PROCEPT BioRobotics Reports Second Quarter 2025 Financial Results and Increases 2025 Revenue Guidance

Rhea-AI Summary

PROCEPT BioRobotics (Nasdaq: PRCT) reported strong Q2 2025 financial results with total revenue of $79.2 million, up 48% year-over-year. The company's U.S. revenue grew 46% to $69.6 million, driven by system sales and increased handpiece revenue. International revenue surged 69% to $9.6 million.

Key highlights include 51 new U.S. robotic system sales and an expanded U.S. install base of 595 systems. Gross margin improved to 65% from 59% year-over-year. The company increased its 2025 revenue guidance to $325.5 million, representing 45% growth. Additionally, PROCEPT announced the appointment of Larry Wood as CEO, effective September 2, 2025.

Positive

• Revenue grew 48% year-over-year to $79.2 million
• U.S. handpiece and consumables revenue increased 58% to $43.1 million
• International revenue surged 69% to $9.6 million
• Gross margin improved to 65% from 59% year-over-year
• Strong cash position with $305.8 million in cash and equivalents
• Increased 2025 revenue guidance to $325.5 million

Negative

• Net loss of $19.6 million in Q2 2025
• Operating expenses increased 27% to $73.9 million
• Projected Adjusted EBITDA loss of $35.0 million for 2025
• Potential gross margin headwind of $1.0-$2.0 million from tariffs

Insights

Financial Analyst

PROCEPT BioRobotics delivered exceptional 48% YoY revenue growth, raised guidance, and shows strong adoption of Aquablation therapy with improving margins.

PROCEPT BioRobotics has delivered outstanding financial results for Q2 2025, with $79.2 million in total revenue representing 48% year-over-year growth. The performance was driven by strong adoption across all segments, particularly in U.S. handpiece and consumables revenue which grew 58% to $43.1 million—a clear indicator of increasing procedural volumes and growing utilization of their Aquablation therapy.

The company's margin profile is showing significant improvement, with gross margin expanding to 65% from 59% in the year-ago period. This 600 basis point improvement reflects better operational efficiencies, overhead absorption, and higher average selling prices on robotic systems—all positive signs of scaling economics as the company grows.

PROCEPT's U.S. commercial strategy appears to be working exceptionally well. They sold 51 robotic systems in the U.S. during the quarter, bringing their installed base to 595 systems—a critical metric as each system placement drives recurring revenue through handpiece and consumable sales. The 24% growth in U.S. system revenue to $22.1 million coupled with the faster 58% growth in consumables suggests increasing utilization rates per system.

International expansion is also accelerating, with international revenue surging 69% to $9.6 million, indicating successful market penetration beyond the U.S.

While still operating at a loss, PROCEPT's financial trajectory is improving substantially. Net loss narrowed to $19.6 million from $25.6 million in the prior year, and Adjusted EBITDA loss improved to $8.0 million from $17.9 million—a 55% improvement that suggests a clear path toward profitability as revenue continues to scale.

The company's balance sheet remains strong with $305.8 million in cash and cash equivalents against $52.0 million in long-term borrowings, providing ample runway to fund growth initiatives including the WATER IV prostate cancer study.

Management's decision to raise full-year 2025 revenue guidance to $325.5 million (from $323.0 million) signals confidence in sustained momentum. With gross margin expected to reach approximately 64.5% for the full year, PROCEPT is demonstrating both strong top-line growth and improving operational efficiency.

SAN JOSE, Calif., Aug. 06, 2025 (GLOBE NEWSWIRE) -- PROCEPT BioRobotics® Corporation (Nasdaq: PRCT) (the “Company”), a surgical robotics company focused on advancing patient care by developing transformative solutions in urology, today reported unaudited financial results for the quarter ended June 30, 2025.

Recent Highlights

• Total revenue of $79.2 million for the second quarter of 2025, an increase of 48% compared to the prior year period in 2024
• U.S. handpiece and consumables revenue of $43.1 million for the second quarter of 2025, an increase of 58% compared to the prior year period in 2024
• Sold 51 robotic systems in the U.S. in the second quarter of 2025
• U.S. system and rental revenue of $22.1 million for the second quarter of 2025, an increase of 24% compared to the prior year period in 2024
• International revenue of $9.6 million for the second quarter of 2025, an increase of 69% compared to the prior year period in 2024
• Increased fiscal year 2025 total revenue guidance to $325.5 million, an increase of 45% compared to the prior year period in 2024
• Appointed Larry Wood as chief executive officer, effective September 2, 2025, bringing 40 years of leadership experience in the global medical technology industry
  

“We delivered another strong quarter, with revenue growing 48% year-over-year, driven by robust global demand and continued procedural momentum,” said Reza Zadno, chief executive officer. “Throughout the second quarter, we remained focused on expanding utilization of Aquablation® therapy in the U.S., deepening penetration within the U.S. BPH hospital market, accelerating enrollment in the WATER IV prostate cancer study, and advancing our commercial efforts in key international markets. We believe these initiatives position us well for sustained growth and long-term value creation.”

Second Quarter 2025 Financial Results

Total revenue for the second quarter of 2025 was $79.2 million, an increase of 48% compared to the prior year period. U.S. revenue was $69.6 million, representing growth of 46% compared to the prior year period. The increase was primarily driven by system sales to new hospital customers and increased handpiece revenue. U.S. handpiece and consumable revenue for the second quarter of 2025 was $43.1 million, an increase of 58% compared to the prior year period. U.S. system revenue for the second quarter of 2025 was $22.1 million, an increase of 24% compared to the prior year period. As of June 30, 2025, the install base of robotic systems in the U.S. was 595 systems. International revenue was $9.6 million for the quarter, an increase of 69% compared to the prior year period.

Gross margin for the second quarter 2025 was 65% compared to 59% in the prior year period and 64% in the first quarter of 2025. Gross margin expansion in the second quarter was due to improved operational efficiencies and overhead absorption, along with higher average selling prices on U.S. robotic systems.

Operating expenses in the second quarter of 2025 were $73.9 million, compared with $58.3 million in the prior year period. The increase in operating expenses was primarily due to expenses to expand the commercial organization, increased research and development expenses and increased general and administrative expenses.

Net loss was $19.6 million for the second quarter of 2025, compared to a loss of $25.6 million in the prior year period. Adjusted EBITDA was a loss of $8.0 million for the second quarter of 2025, compared to a loss of $17.9 million in the prior year period.

Cash, cash equivalents and restricted cash balances as of June 30, 2025, totaled $305.8, while long-term borrowings totaled $52.0 million.

Full Year 2025 Financial Guidance

• The Company projects revenue for the full year 2025 revenue to be approximately $325.5 million, which represents 45% growth over the Company’s prior year revenue. This compares to previous revenue guidance of $323.0 million.
• The Company expects full year 2025 gross margin to be approximately 64.5%. Should global tariff rates remain at current levels, the Company estimates a potential gross margin headwind of approximately $1.0 to $2.0 million.
• The Company projects full year 2025 total operating expense of approximately $302.0 million. This compares to previous operating expense guidance of $300.0 million
• The Company projects full year 2025 Adjusted EBITDA loss to be approximately ($35.0) million.

Adjusted EBITDA is a financial measure that is not prepared in accordance with generally accepted accounting principles in the United States (GAAP). For more information about the Company’s use of non-GAAP financial measures, please see the section below titled “Use of Non-GAAP Financial Measures (Unaudited).”

Webcast and Conference Call Information
PROCEPT BioRobotics will host a conference call to discuss the second quarter 2025 financial results on Wednesday, August 6, 2025, at 4:30 p.m. Eastern Time.

Investors interested in listening to the conference call may do so by following one of the below links:

• Webcast link for interested listeners:
  • https://edge.media-server.com/mmc/p/apg8aowj/
• Dial-in registration for sell-side research analysts:
  • https://register-conf.media-server.com/register/BI6a34da2819a549879a20996d9920dc2f

About PROCEPT BioRobotics Corporation
PROCEPT BioRobotics’ mission is to revolutionize BPH treatment globally in partnership with urologists by delivering best-in-class robotic solutions that positively impact patients and drive value. PROCEPT BioRobotics manufactures the AQUABEAM® and HYDROS Robotic Systems. The HYDROS™ Robotic System is the only AI-Powered, robotic technology that delivers Aquablation therapy. PROCEPT BioRobotics designed Aquablation therapy to deliver effective, safe, and durable outcomes for males suffering from lower urinary tract symptoms or LUTS, due to BPH that are independent of prostate size and shape or surgeon experience. BPH is the most common prostate disease and impacts approximately 40 million men in the United States. The Company has developed a significant and growing body of clinical evidence with over 150 peer-reviewed publications, supporting the benefits and clinical advantages of Aquablation therapy.

Use of Non-GAAP Financial Measures (Unaudited)
This press release references Adjusted EBITDA, a financial measure that is not prepared in accordance with generally accepted accounting principles in the United States (GAAP). The Company defines Adjusted EBITDA as earnings before interest expense, taxes, depreciation and amortization and stock-based compensation. Non-GAAP financial measures are not a substitute for or superior to measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to any other performance measures derived in accordance with GAAP.

The Company believes that presenting Adjusted EBITDA provides useful supplemental information to investors about the Company in understanding and evaluating its operating results, enhancing the overall understanding of its past performance and future prospects, and allowing for greater transparency with respect to key financial metrics used by its management in financial and operational decision making. However, there are a number of limitations related to the use of non-GAAP measures and their nearest GAAP equivalents. For example, other companies may calculate non-GAAP measures differently, or may use other measures to calculate their financial performance, and therefore any non-GAAP measures the Company uses may not be directly comparable to similarly titled measures of other companies.

Forward Looking Statements
This release contains forward‐looking statements within the meaning of federal securities laws, including with respect to the Company’s projected financial performance for full year 2025, statements regarding the potential utilities, values, benefits and advantages of Aquablation therapy performed using PROCEPT BioRobotics’ products, including AquaBeam or Hydros Robotic Systems, which involve risks and uncertainties that could cause the actual results to differ materially from the anticipated results and expectations expressed in these forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are only predictions based on the Company’s current expectations, estimates, and assumptions, valid only as of the date they are made, and subject to risks and uncertainties, some of which the Company is not currently aware.   Forward-looking statements may include statements regarding financial guidance, market opportunity and penetration, clinical trial outcomes, the Company’s possible or assumed future results of operations, including descriptions of the Company’s revenues, gross margins, profitability, operating expenses, installed base growth, commercial momentum and overall business strategy. Forward‐looking statements should not be read as a guarantee of future performance or results and may not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. These forward‐looking statements are based on the Company’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward‐looking statements as a result of these risks and uncertainties. These risks and uncertainties are described more fully in the section titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including the Company’s annual report on Form 10-K filed with the SEC on February 27, 2025, and amended on April 11, 2025, and subsequent quarterly reports on Form 10-Q. PROCEPT BioRobotics does not undertake any obligation to update forward‐looking statements and expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward‐looking statements contained herein. These forward-looking statements should not be relied upon as representing PROCEPT BioRobotics’ views as of any date subsequent to the date of this press release.

Important Safety Information
All surgical treatments have inherent and associated side effects. For a list of potential side effects visit https://aquablation.com/safety-information/ 

Investor Contact:
Matt Bacso
VP, Investor Relations and Business Operations
m.bacso@procept-biorobotics.com 

PROCEPT BioRobotics Corporation CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in thousands, except per share data)
		Three Months Ended June 30,								Six Months Ended June 30,
			2025				2024				2025				2024
Revenue		$	79,182			$	53,353			$	148,344			$	97,892
Cost of sales			27,436				21,871				52,437				41,376
Gross profit			51,746				31,482				95,907				56,516
Operating expenses:
Research and development			17,632				17,501				34,034				30,585
Selling, general and administrative			56,303				40,809				111,499				80,408
Total operating expenses			73,935				58,310				145,533				110,993
Loss from operations			(22,189	)			(26,828	)			(49,626	)			(54,477	)
Interest expense			(895	)			(1,030	)			(1,773	)			(2,075	)
Interest and other income, net			3,506				2,232				7,083				4,969
Net loss		$	(19,578	)		$	(25,626	)		$	(44,316	)		$	(51,583	)
Net loss per share, basic and diluted		$	(0.35	)		$	(0.50	)		$	(0.80	)		$	(1.01	)
Weighted-average common shares used to
Compute net loss per share attributable to
Common shareholders, basic and diluted			55,445				51,622				55,182				51,316

PROCEPT BioRobotics Corporation RECONCILIATION OF GAAP NET LOSS TO ADJUSTED EBITDA (Unaudited, in thousands)
		Three Months Ended June 30,								Six Months Ended June 30,
			2025				2024				2025				2024
Net loss		$	(19,578	)		$	(25,626	)		$	(44,316	)		$	(51,583	)
Depreciation and amortization expense			1,588				1,269				3,063				2,453
Stock-based compensation expense			12,163				7,986				22,271				14,242
Interest (income) and interest expense, net			(2,167	)			(1,559	)			(4,821	)			(3,398	)
Adjusted EBITDA		$	(7,994	)		$	(17,930	)		$	(23,803	)		$	(38,286	)

PROCEPT BioRobotics Corporation RECONCILIATION OF GAAP NET LOSS TO ADJUSTED 2025 EBITDA Guidance (Unaudited, in thousands)
				2025
Net loss			$	(83,500	)
Depreciation and amortization expense				6,800
Stock-based compensation expense				50,000
Interest (income) and interest expense, net				(8,300	)
Adjusted EBITDA			$	(35,000	)

PROCEPT BioRobotics Corporation CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited, in thousands)
		June 30, 2025				December 31, 2024
Assets
Current assets:
Cash and cash equivalents		$	302,717			$	333,725
Accounts receivable, net			80,817				83,496
Inventory			67,032				56,168
Prepaid expenses and other current assets			7,501				8,453
Total current assets			458,067				481,842
Restricted cash, non-current			3,038				3,038
Property and equipment, net			28,602				26,709
Operating lease right-of-use assets, net			18,260				18,941
Intangible assets, net			795				932
Other assets			4,292				2,555
Total assets		$	513,054			$	534,017
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable		$	11,783			$	10,032
Accrued compensation			16,302				21,537
Deferred revenue			9,889				9,565
Operating leases, current			2,059				1,910
Loan facility liability			—				2,000
Other current liabilities			9,694				8,089
Total current liabilities			49,727				53,133
Long-term debt			51,524				51,472
Operating leases, non-current			25,784				26,868
Other liabilities			223				324
Total liabilities			127,258				131,797
Stockholders’ equity:
Additional paid-in capital			976,240				948,091
Accumulated other comprehensive gain			(144	)			114
Accumulated deficit			(590,300	)			(545,985	)
Total stockholders’ equity			385,796				402,220
Total liabilities and stockholders’ equity		$	513,054			$	534,017

PROCEPT BioRobotics Corporation REVENUE BY TYPE AND GEOGRAPHY (Unaudited, in thousands)
		Three Months Ended June 30,								Six Months Ended June 30,
				2025			2024				2025				2024
U.S.
System sales and rentals		$		22,082		$	17,819			$	40,769			$	32,055
Handpieces and other consumables				43,130			27,260				81,141				50,878
Service				4,373			2,589				7,968				4,936
Total U.S. revenue				69,585			47,668				129,878				87,869
Outside of U.S.
System sales and rentals				2,945			3,078				6,798				4,818
Handpieces and other consumables				6,002			2,271				10,479				4,614
Service				650			336				1,189				591
Total outside of U.S. revenue				9,597			5,685				18,466				10,023
Total revenue		$		79,182		$	53,353			$	148,344			$	97,892

FAQ

What were PROCEPT BioRobotics (PRCT) Q2 2025 earnings results?

PRCT reported Q2 2025 revenue of $79.2 million, up 48% year-over-year, with a net loss of $19.6 million. U.S. revenue grew 46% to $69.6 million, while international revenue increased 69% to $9.6 million.

How many robotic systems did PROCEPT BioRobotics install in Q2 2025?

PROCEPT sold 51 robotic systems in the U.S. during Q2 2025, bringing the total U.S. install base to 595 systems.

What is PROCEPT BioRobotics' revenue guidance for 2025?

PROCEPT increased its 2025 revenue guidance to $325.5 million, representing 45% growth over 2024, up from the previous guidance of $323.0 million.

Who is the new CEO of PROCEPT BioRobotics?

Larry Wood has been appointed as the new chief executive officer, effective September 2, 2025, bringing 40 years of leadership experience in the global medical technology industry.

What was PROCEPT BioRobotics' gross margin in Q2 2025?

PROCEPT's gross margin for Q2 2025 was 65%, improved from 59% in the prior year period, due to improved operational efficiencies, overhead absorption, and higher U.S. robotic system selling prices.