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1. Company Snapshot

1.a. Company Description

PROCEPT BioRobotics Corporation, a surgical robotics company, develops transformative solutions in urology.It develops, manufactures, and sells AquaBeam Robotic System, an image-guided, surgical robotic system for use in minimally-invasive urologic surgery with a focus on treating benign prostatic hyperplasia (BPH).The company also designs Aquablation therapy for males suffering from lower urinary tract symptoms due to BPH.


As of December 31, 2021, it had an install base of 130 AquaBeam Robotic Systems worldwide comprising 78 in the United States.PROCEPT BioRobotics Corporation was incorporated in 2007 and is headquartered in Redwood City, California.

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1.b. Last Insights on PRCT

PROCEPT BioRobotics Corporation faced negative drivers, including a quarterly loss of $0.38 per share, although beating revenue estimates. The company's Q3 2025 earnings call highlighted its focus on urology solutions. A decrease in medical care costs could positively impact the company. Additionally, an increase in stake by State of New Jersey Common Pension Fund D, which purchased 2,938 shares, may indicate growing investor confidence. The company also announced a presentation at the 37th Annual Piper Sandler Healthcare Conference.

1.c. Company Highlights

2. PROCEPT BioRobotics' Q3 2025 Earnings: Strong Revenue Growth and Improving Utilization

PROCEPT BioRobotics reported total revenue of $83.3 million for Q3 2025, representing a 43% growth compared to Q3 2024. The strong revenue growth was driven primarily by U.S. capital systems shipped, which totaled 58 in the quarter. Gross margin for the quarter was 64.8%, representing an increase of 160 basis points year-over-year. The company's actual EPS loss was $0.38, beating estimates of a $0.41 loss. Analysts estimate next year's revenue growth at 29.6%.

Publication Date: Nov -08

📋 Highlights
  • Q3 2025 Revenue Growth:: Total revenue reached $83.3 million, up 43% YoY, driven by 58 U.S. capital systems shipped.
  • Handpiece Sales Surge:: 13,225 handpieces sold, reflecting 51% YoY unit growth and $44.4 million in consumable revenue (50% growth).
  • Gross Margin Expansion:: Gross margin hit 64.8%, a 160-basis-point increase YoY, due to operational efficiency.
  • 2026 Revenue Guidance:: $410–430 million projected, factoring in capital sales momentum and strategic investments in commercial capabilities.
  • International Growth:: Q3 revenue of $9.4 million, up 53% YoY, with plans to expand market-specific strategies globally.

Revenue Breakdown and Growth Drivers

U.S. revenue for Q3 2025 was $73.9 million, representing 42% growth compared to the prior year period. Handpiece and other consumable revenue for Q3 2025 was $44.4 million, representing 50% growth compared to Q3 2024. The company sold approximately 13,225 handpieces, reflecting 51% year-over-year unit growth. International revenue in Q3 2025 was $9.4 million, representing 53% growth compared to the prior year period.

Utilization and Procedural Growth

The company's procedure utilization is an area of focus for improvement, with the launch of an initiative aimed at achieving procedural targets in the shortest possible time after a sale. Early results have been encouraging, and the company plans to expand this program in Q4 2025 and fully implement it in 2026. As Larry Wood mentioned, "Our focus is on initiatives to improve utilization." The company's efforts to drive utilization growth are expected to continue, with a strong procedure quarter expected in Q4.

Outlook and Valuation

The company guided for total revenue in the range of $410 million to $430 million for FY 2026, reflecting its current momentum in capital sales. The outlook incorporates the expectation of modest procedural headwinds in the first half of 2026. With a P/S Ratio of 5.95, the market is pricing in significant revenue growth. The EV/EBITDA ratio is -20.97, indicating that the company's valuation is largely dependent on its future growth prospects. As the company continues to invest in its strategic priorities, it remains focused on driving long-term growth and achieving profitability.

3. NewsRoom

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PROCEPT BioRobotics® to Present at Upcoming 37th Annual Piper Sandler Healthcare Conference on December 2, 2025

Nov -20

Source: globenewswire.com

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Artisan Global Discovery Fund: Q3 Delivers Strong Results Amid Trimming And Exits

Nov -20

Source: seekingalpha.com

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PROCEPT BioRobotics Corporation (PRCT) Q3 2025 Earnings Call Transcript

Nov -05

Source: seekingalpha.com

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PROCEPT BioRobotics Corporation (PRCT) Reports Q3 Loss, Beats Revenue Estimates

Nov -04

Source: zacks.com

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PROCEPT BioRobotics Reports Third Quarter 2025 Financial Results and Issues 2026 Revenue Guidance

Nov -04

Source: globenewswire.com

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State of New Jersey Common Pension Fund D Purchases 2,938 Shares of PROCEPT BioRobotics Corporation $PRCT

Nov -02

Source: defenseworld.net

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Is Procept BioRobotics Stock a Buy After Investment Company Chicago Capital Scoops Up Nearly 1 Million Shares?

Oct -24

Source: fool.com

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PROCEPT BioRobotics® to Report Third Quarter 2025 Financial Results on November 4, 2025

Oct -15

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (9.88%)

6. Segments

Hand Pieces and Other Consumables

Expected Growth: 8.9%

The 8.9% growth of Hand Pieces and Other Consumables from PROCEPT BioRobotics Corporation is driven by increasing adoption of Aquablation therapy, expanding urologist training and education, growing demand for minimally invasive treatments, and rising prevalence of benign prostatic hyperplasia (BPH) among aging men.

System and Rentals

Expected Growth: 10.5%

PROCEPT BioRobotics Corporation's System and Rentals segment growth of 10.5% is driven by increasing adoption of minimally invasive surgical procedures, growing demand for robotic-assisted surgery, and expansion into new markets. Additionally, the company's innovative products, such as the AquaBeam System, are gaining traction, contributing to the segment's rapid growth.

Service

Expected Growth: 13.9%

PROCEPT BioRobotics Corporation's 13.9% growth is driven by increasing adoption of its robotic systems in urology, expanding product portfolio, and growing demand for minimally invasive surgical procedures. Additionally, strategic partnerships, investments in R&D, and geographic expansion into new markets contribute to the company's rapid growth.

7. Detailed Products

AquaBeam System

A robotic system for minimally invasive urologic procedures, providing surgeons with real-time visualization and precise dissection capabilities.

AquaBeam Robotic Console

A state-of-the-art console that integrates advanced visualization, precision robotics, and real-time imaging to enable surgeons to perform complex procedures with enhanced precision and control.

AquaBeam Handpieces

Disposable handpieces designed for use with the AquaBeam System, providing surgeons with precise dissection and ablation capabilities.

PROCEPT Bx System

A robotic system for biopsy and tissue acquisition, providing clinicians with precise and minimally invasive tissue sampling capabilities.

8. PROCEPT BioRobotics Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes is low for PROCEPT BioRobotics Corporation because the company's products are highly specialized and there are no close substitutes available in the market.

Bargaining Power Of Customers

The bargaining power of customers is medium for PROCEPT BioRobotics Corporation because the company's products are specialized and customers have some bargaining power due to the availability of alternative products.

Bargaining Power Of Suppliers

The bargaining power of suppliers is low for PROCEPT BioRobotics Corporation because the company has a diversified supplier base and is not heavily dependent on a single supplier.

Threat Of New Entrants

The threat of new entrants is high for PROCEPT BioRobotics Corporation because the company operates in a rapidly evolving industry with low barriers to entry, making it easier for new companies to enter the market.

Intensity Of Rivalry

The intensity of rivalry is medium for PROCEPT BioRobotics Corporation because the company operates in a competitive industry with several established players, but the company's specialized products and strong brand recognition help to differentiate it from competitors.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 15.89%
Debt Cost 5.04%
Equity Weight 84.11%
Equity Cost 8.69%
WACC 8.11%
Leverage 18.89%

11. Quality Control: PROCEPT BioRobotics Corporation passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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PROCEPT BioRobotics

A-Score: 3.4/10

Value: 6.4

Growth: 6.2

Quality: 4.2

Yield: 0.0

Momentum: 0.0

Volatility: 3.3

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A-Score: 3.0/10

Value: 6.4

Growth: 1.8

Quality: 5.3

Yield: 0.0

Momentum: 0.5

Volatility: 4.0

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

37.03$

Current Price

37.03$

Potential

-0.00%

Expected Cash-Flows