PROCEPT BioRobotics Reports Third Quarter 2026 Financial Results and Reaffirms 2026 Financial Guidance
Higher gross margin accompanied wider quarterly losses, while cash and cash equivalents fell from their year-end balance.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
PROCEPT BioRobotics (PRCT) reported third-quarter 2026 revenue of $98.3 million, up 18% year over year, and reaffirmed full-year guidance. U.S. procedures exceeded 13,400, up approximately 22%. U.S. handpiece and consumable revenue rose 21% to $53.9 million, while international revenue increased 32% to $12.5 million.
Gross margin reached 66%, versus 65% a year earlier, but operating expenses increased to $92.5 million from $77.2 million. Net loss widened to $26.5 million from $21.4 million; adjusted EBITDA, a non-GAAP earnings measure, was a $9.8 million loss versus $7.4 million.
The company continues to expect 2026 revenue of $390 million–$410 million, growth of 27%–33%, and 54,000–56,000 U.S. procedures, growth of 25%–29%. It also reaffirmed approximately 65% gross margin and an adjusted EBITDA loss of $35 million to $30 million.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointQ3 revenue rose 18% year over year to $98.3 million.
- Moderate point. Forward-looking: it has not happened yet and may not happen.2026 revenue guidance reaffirmed at $390 million–$410 million, representing 27%–33% growth.
- Moderate pointU.S. procedures exceeded 13,400 in Q3, up approximately 22% year over year.
- Moderate point. Forward-looking: it has not happened yet and may not happen.2026 U.S. procedure guidance reaffirmed at 54,000–56,000, representing 25%–29% growth.
- Minor pointQ3 U.S. revenue grew 16% year over year to $85.8 million.
8 minor points
- Minor pointQ3 U.S. handpiece and consumable revenue rose 21% year over year to $53.9 million.
- Minor pointQ3 international revenue increased 32% year over year to $12.5 million.
- Minor pointQ3 gross margin improved to 66% from 65% a year earlier.
- Minor point62 U.S. HYDROS systems delivered in Q3, including 20 replacements; new-system selling prices averaged approximately $495,000.
- Minor pointQ3 handpiece average selling price increased 12% year over year to approximately $3,570.
- Minor pointQ3 U.S. service revenue increased to $7.275 million from $4.754 million a year earlier.
- Minor pointNine-month revenue increased to $275.922 million from $231.671 million a year earlier.
- Minor point. Forward-looking: it has not happened yet and may not happen.WATER IV data presentation remains on track for the first half of 2027, the company said.
Negative
- Moderate pointQ3 net loss widened to $26.5 million from $21.4 million a year earlier.
- Moderate pointQ3 operating expenses increased to $92.5 million from $77.2 million a year earlier.
- Moderate pointCash and cash equivalents declined to $218.369 million at September 30, 2026, from $286.503 million at year-end 2025.
- Moderate point. Forward-looking: it has not happened yet and may not happen.2026 adjusted EBITDA loss guidance reaffirmed at $35 million to $30 million.
- Moderate point. Forward-looking: it has not happened yet and may not happen.2026 net loss guidance ranges from $97.8 million to $92.8 million.
7 minor points
- Minor pointQ3 net loss per share widened to $0.46 from $0.38 a year earlier.
- Minor pointQ3 operating loss widened to $27.376 million from $23.192 million a year earlier.
- Minor pointQ3 adjusted EBITDA loss widened to $9.8 million from $7.4 million a year earlier.
- Minor pointQ3 U.S. system sales and rental revenue decreased to $24.689 million from $24.747 million a year earlier.
- Minor pointNine-month net loss widened to $85.015 million from $65.727 million a year earlier.
- Minor pointNine-month net loss per share widened to $1.49 from $1.19 a year earlier.
- Minor pointNine-month adjusted EBITDA loss widened to $39.274 million from $31.198 million a year earlier.
News Explained
In reporting
Key Figures
- Q3 revenue
- $98.3 million
- Third quarter 2026
- Revenue growth
- 18%
- Q3 2026 compared with the prior-year period
- Gross margin
- 66%
- Q3 2026; 65% in the prior-year period
- Net loss
- $26.5 million
- Q3 2026; compared with $21.4 million in Q3 2025
- Adjusted EBITDA loss
- $9.8 million
- Q3 2026; compared with $7.4 million in Q3 2025
- Cash, cash equivalents and restricted cash
- $221.4 million
- As of September 30, 2026
- 2026 revenue guidance
- $390 million to $410 million
- Full-year 2026; reiterated
- 2026 adjusted EBITDA loss guidance
- $35 million to $30 million
- Full-year 2026; reiterated
Previous Earnings Reports
-
Q2 revenue rose 19% year over year, and the company reiterated full-year revenue guidance.
-
Q1 revenue grew 20% year over year, with full-year revenue guidance confirmed.
-
The report set 2026 revenue guidance at $390–$410 million, versus the earlier $410–$430 million range.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
randomized trial medical
radical prostatectomy medical
bph medical
gaap financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
SAN JOSE, Calif., Nov. 04, 2026 (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 September 30, 2026.
“As we enter the fourth quarter, we remain focused on executing against our full-year revenue guidance and profitability plan,” said Larry Wood, Chief Executive Officer. “Further, we remain excited to present data from WATER IV, our randomized trial comparing Aquablation to radical prostatectomy in prostate cancer, on track for the first half of 2027. We see significant opportunity and a clear path to achieving durable growth and profitability ahead.”
Wood continued, “This quarter, we continued expanding our installed base and drove strong utilization in HYDROS® accounts. We delivered approximately
Third Quarter 2026 Financial Results
- Total revenue of
$98.3 million for the third quarter of 2026, an increase of18% compared to the prior year period in 2025 - U.S. procedures over 13,400 for the third quarter of 2026, an increase of approximately
22% compared to the prior year period - Delivered 62 U.S. HYDROS systems, which included 20 replacement systems. U.S. average selling price was approximately
$495,000 for new HYDROS systems - U.S. handpieces sold as percent of U.S. procedures in the third quarter of 2026 was approximately
106% - Third quarter of 2026 handpiece average selling price of approximately
$3,570 increased12% compared to the third quarter of 2025 - International revenue of
$12.5 million for the third quarter of 2026, an increase of32% compared to the prior year period - Gross margin of
66% for the third quarter of 2026, compared to65% in the prior year period.
Total revenue for the third quarter of 2026 was
Gross margin for the third quarter of 2026 was
Operating expenses in the third quarter of 2026 were
Net loss was
Cash, cash equivalents and restricted cash balances as of September 30, 2026, totaled approximately
Full Year 2026 Financial Guidance
- The Company reiterates revenue for the full year 2026 to be in the range of
$390 million to$410 million , which represents growth of27% to33% compared to the prior year period - The Company reiterates U.S. procedure volume for the full year 2026 to be in the range of 54,000-56,000 which represents growth of
25% to29% compared to the prior year period - The Company reiterates gross margin for the full year 2026 to be approximately
65% - The Company reiterates adjusted EBITDA* loss for the full year 2026 to be in the range of
$35 million to$30 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 third quarter 2026 financial results on Wednesday, November 4, 2026, at 4:30 p.m. Eastern Time.
Investors interested in listening to the conference call may do so by following one of the links below:
- Webcast link for interested listeners:
- Dial-in registration for sell-side research analysts:
About PROCEPT BioRobotics Corporation
PROCEPT BioRobotics is a surgical robotics company focused on advancing patient care by developing transformative solutions in urology. 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 approximately 250 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 2026, 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, procedure growth, 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 26, 2026, 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/
Media Contact: Pooja Rao, media@procept-biorobotics.com
Investor Contact: Marissa Bych, ir@procept-biorobotics.com
| PROCEPT BioRobotics Corporation CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in thousands, except per share data) | |||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Revenue | $ | 98,291 | $ | 83,327 | $ | 275,922 | $ | 231,671 | |||||||
| Cost of sales | 33,143 | 29,321 | 94,447 | 81,758 | |||||||||||
| Gross profit | 65,148 | 54,006 | 181,475 | 149,913 | |||||||||||
| Operating expenses: | |||||||||||||||
| Research and development | 20,011 | 18,187 | 61,578 | 52,221 | |||||||||||
| Selling, general and administrative | 72,513 | 59,011 | 207,269 | 170,510 | |||||||||||
| Total operating expenses | 92,524 | 77,198 | 268,847 | 222,731 | |||||||||||
| Loss from operations | (27,376 | ) | (23,192 | ) | (87,372 | ) | (72,818 | ) | |||||||
| Interest expense | (856 | ) | (919 | ) | (2,516 | ) | (2,692 | ) | |||||||
| Interest and other income, net | 1,658 | 2,734 | 4,866 | 9,905 | |||||||||||
| Loss before income taxes | (26,574 | ) | (21,377 | ) | (85,022 | ) | (65,605 | ) | |||||||
| Provision for (benefit from) income taxes | (58 | ) | 34 | (7 | ) | 122 | |||||||||
| Net loss | $ | (26,516 | ) | $ | (21,411 | ) | $ | (85,015 | ) | $ | (65,727 | ) | |||
| Net loss per share, basic and diluted | $ | (0.46 | ) | $ | (0.38 | ) | $ | (1.49 | ) | $ | (1.19 | ) | |||
| Weighted-average common shares used to | |||||||||||||||
| Compute net loss per share attributable to | |||||||||||||||
| Common shareholders, basic and diluted | 57,326 | 55,727 | 56,971 | 55,366 | |||||||||||
| PROCEPT BioRobotics Corporation RECONCILIATION OF GAAP NET LOSS TO ADJUSTED EBITDA (Unaudited, in thousands) | |||||||||||||||
| Three Months Ended September30, | Nine Months Ended September 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Net loss | $ | (26,516 | ) | $ | (21,411 | ) | $ | (85,015 | ) | $ | (65,727 | ) | |||
| Depreciation and amortization expense | 2,539 | 1,619 | 6,264 | 4,681 | |||||||||||
| Stock-based compensation expense | 15,080 | 14,490 | 42,686 | 36,761 | |||||||||||
| Interest (income) and interest expense, net | (925 | ) | (2,093 | ) | (3,209 | ) | (6,913 | ) | |||||||
| Adjusted EBITDA | $ | (9,822 | ) | $ | (7,395 | ) | $ | (39,274 | ) | $ | (31,198 | ) | |||
| PROCEPT BioRobotics Corporation RECONCILIATION OF GAAP NET LOSS TO ADJUSTED 2026 EBITDA Guidance (Unaudited, in thousands) | |||||||
| For the Year Ending December 31, 2026 | |||||||
| LOW | HIGH | ||||||
| Net loss | $ | (97,800 | ) | $ | (92,800 | ) | |
| Depreciation and amortization expense | 8,800 | 8,800 | |||||
| Stock-based compensation expense | 58,200 | 58,200 | |||||
| Interest (income) and interest expense, net | (4,200 | ) | (4,200 | ) | |||
| Adjusted EBITDA | $ | (35,000 | ) | $ | (30,000 | ) | |
| PROCEPT BioRobotics Corporation CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited, in thousands) | |||||||
| September 30, 2026 | December 31, 2025 | ||||||
| Assets | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 218,369 | $ | 286,503 | |||
| Accounts receivable, net | 105,030 | 83,533 | |||||
| Inventory | 81,410 | 70,694 | |||||
| Prepaid expenses and other current assets | 9,381 | 9,648 | |||||
| Total current assets | 414,190 | 450,378 | |||||
| Restricted cash, non-current | 3,038 | 3,038 | |||||
| Property and equipment, net | 30,165 | 30,399 | |||||
| Operating lease right-of-use assets, net | 16,373 | 17,538 | |||||
| Intangible assets, net | 502 | 709 | |||||
| Other assets | 9,491 | 6,019 | |||||
| Total assets | $ | 473,759 | $ | 508,081 | |||
| Liabilities and Stockholders' Equity | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 16,721 | $ | 17,285 | |||
| Accrued compensation | 25,976 | 23,175 | |||||
| Deferred revenue | 15,636 | 13,048 | |||||
| Operating leases, current | 2,655 | 2,214 | |||||
| Other current liabilities | 9,365 | 10,073 | |||||
| Total current liabilities | 70,353 | 65,795 | |||||
| Long-term debt | 51,767 | 51,615 | |||||
| Operating leases, non-current | 22,570 | 24,654 | |||||
| Other non-current liabilities | 161 | 147 | |||||
| Total liabilities | 144,851 | 142,211 | |||||
| Stockholders’ equity: | |||||||
| Additional paid-in capital | 1,055,475 | 1,007,390 | |||||
| Accumulated other comprehensive gain | 5 | 37 | |||||
| Accumulated deficit | (726,572 | ) | (641,557 | ) | |||
| Total stockholders’ equity | 328,908 | 365,870 | |||||
| Total liabilities and stockholders’ equity | $ | 473,759 | $ | 508,081 | |||
| PROCEPT BioRobotics Corporation REVENUE BY TYPE AND GEOGRAPHY (Unaudited, in thousands) | |||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||
| U.S. | |||||||||||
| System sales and rentals | $ | 24,689 | $ | 24,747 | $ | 77,141 | $ | 65,400 | |||
| Handpieces and other consumables | 53,861 | 44,411 | 145,247 | 125,668 | |||||||
| Service | 7,275 | 4,754 | 18,875 | 12,723 | |||||||
| Total U.S. revenue | 85,825 | 73,912 | 241,263 | 203,791 | |||||||
| Outside of U.S. | |||||||||||
| System sales and rentals | 4,503 | 3,391 | 11,756 | 10,179 | |||||||
| Handpieces and other consumables | 6,974 | 5,316 | 20,175 | 15,805 | |||||||
| Service | 989 | 708 | 2,728 | 1,896 | |||||||
| Total outside of U.S. revenue | 12,466 | 9,415 | 34,659 | 27,880 | |||||||
| Total revenue | $ | 98,291 | $ | 83,327 | $ | 275,922 | $ | 231,671 | |||
| PROCEPT BioRobotics Corporation QUARTERLY U.S. INSTALL BASE AND PROCEDURES (Unaudited, in thousands) | |||||||||||||||||||||||||||||
| Q1'24 | Q2'24 | Q3'24 | Q4'24 | Q1'25 | Q2'25 | Q3'25 | Q4'25 | Q1'26 | Q2'26 | Q3'26 | Q4'26 | FY 24 | FY 25 | FY 26 | |||||||||||||||
| U.S. Install Base | |||||||||||||||||||||||||||||
| Beginning install base | 315 | 354 | 400 | 445 | 505 | 547 | 595 | 653 | 718 | 765 | 816 | 315 | 505 | ||||||||||||||||
| Systems placed | 39 | 46 | 45 | 60 | 42 | 48 | 58 | 65 | 47 | 51 | 42 | 190 | 213 | ||||||||||||||||
| Ending install base | 354 | 400 | 445 | 505 | 547 | 595 | 653 | 718 | 765 | 816 | 858 | 505 | 718 | ||||||||||||||||
| U.S Procedures (000) | 6.1 | 7.0 | 7.4 | 7.2 | 9.3 | 10.8 | 11.0 | 12.2 | 12.2 | 13.1 | 13.4 | ||||||||||||||||||
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were PROCEPT BioRobotics’ third-quarter 2026 financial results?
PROCEPT BioRobotics reported $98.3 million in revenue, up 18% year over year, and a $26.5 million net loss. Gross margin was 66%, compared with 65% a year earlier. Net loss per share was $0.46, versus $0.38.
What is PRCT’s full-year 2026 guidance?
PROCEPT BioRobotics reaffirmed $390 million–$410 million in revenue and 54,000–56,000 U.S. procedures for 2026. Those ranges represent growth of 27%–33% and 25%–29%, respectively. The company also expects approximately 65% gross margin and an adjusted EBITDA loss of $35 million to $30 million.
When does PROCEPT BioRobotics expect to present WATER IV trial data?
PROCEPT BioRobotics expects to present WATER IV data in the first half of 2027. WATER IV is a randomized trial comparing Aquablation with radical prostatectomy in prostate cancer.
How many HYDROS systems did PROCEPT BioRobotics deliver in the third quarter of 2026?
PROCEPT BioRobotics delivered 62 U.S. HYDROS systems in the third quarter of 2026, including 20 replacement systems. The average selling price for new U.S. HYDROS systems was approximately $495,000.