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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's recent performance was negatively impacted by a significant adjusted EBITDA loss of $50.2 million, which diverged sharply from the projected $35 million. The company's revenue guidance was also undercut by internal pricing changes, resulting in a $17.4 million shortfall. Investigations into potential securities law violations have been launched by Levi & Korsinsky and Pomerantz Law Firm on behalf of investors. Additionally, the company's CFO reaffirmed a $325.5 million revenue target, which was not met.

1.c. Company Highlights

2. PROCEPT BioRobotics: Strong Procedure Growth, But Miss on EPS

PROCEPT BioRobotics reported Q4 2025 revenue of $76.4 million, representing 12% year-over-year growth, with U.S. revenue at $66.6 million, reflecting 10% growth. The company's gross margin was impacted by a one-time field action related to handpiece and system compatibility, resulting in a $1.5 million impact. The actual EPS came out at '-0.53' relative to estimates at '-0.32', a miss. The average selling price of handpieces was $3,340, up 5% sequentially.

Publication Date: Mar -02

📋 Highlights
  • Q4 2025 Procedure Growth:: 12,200 procedures completed, reflecting 69% annual growth.
  • 2026 Revenue Guidance:: $390M–$410M total revenue, representing 27%–33% annual growth.
  • Handpiece Model Shift:: 1:1 ratio with procedure volume, replacing prior 108-115% model, driven by price increases and inventory normalization.
  • System Sales Performance:: 65 systems sold in Q4 at $425,000 ASP, with 2026 system placements expected to be flat to slightly up.
  • 2026 Procedure Outlook:: 60,000–64,000 U.S. procedures, representing 39%–48% growth, driven by new launches and installed base expansion.

Operational Highlights

The company completed 12,200 procedures in Q4 2025, reflecting 69% annual growth. The company sold 65 systems in Q4 at a $425,000 ASP, which doesn't reflect softness in capital sales. The company has adjusted its business model for handpiece sales, now modeling it at a 1:1 ratio with procedure volume, a significant change from previous modeling at 108-115% of procedure volume.

Guidance and Outlook

For 2026, the company expects total revenue to be in the range of $390 million to $410 million, representing annual growth of 27% to 33%. The company expects 2026 total U.S. procedures to be in the range of 60,000 to 64,000, representing growth of approximately 39% to 48%. Gross margin for 2026 is expected to be approximately 65%. Analysts estimate next year's revenue growth at 24.2%, slightly below the company's guidance.

Valuation Metrics

Using the current valuation metrics, the company's P/S Ratio is 4.12, and EV/EBITDA is -12.1. ROE is -25.13%, and ROIC is -23.48%. These metrics indicate that the market is pricing in significant growth, but the company's current financial performance is not yet profitable. The negative EPS and EBITDA loss are expected to continue in the short term, as indicated by the guidance for Q1 EBITDA loss of around $20 million.

Future Plans

The company plans to drive growth through procedure volume, not customer ordering or stocking patterns. The sales force realignment is complete, with new account targets, quotas, and incentive plans in place. The company aims to target men with BPH through education programs and increase awareness and adoption of Aquablation therapy for BPH treatment. More details on these plans will be shared at the Analyst Day.

3. NewsRoom

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PROCEPT BioRobotics® to Report First Quarter 2026 Financial Results on April 29, 2026

Apr -09

Source: globenewswire.com

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Reviewing PROCEPT BioRobotics (NASDAQ:PRCT) & OPKO Health (NASDAQ:OPK)

Apr -06

Source: defenseworld.net

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PROCEPT BioRobotics Corporation $PRCT Shares Acquired by SG Americas Securities LLC

Apr -04

Source: defenseworld.net

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PRCT: $50.2M ADJUSTED EBITDA LOSS VS. $35M PROJECTED -- LEVI & KORSINSKY, LLP INVESTIGATES

Apr -01

Source: prnewswire.com

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Procept BioRobotics: An Undervalued Surgical Robotics Growth Story

Mar -30

Source: seekingalpha.com

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INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of PROCEPT BioRobotics Corporation - PRCT

Mar -26

Source: prnewswire.com

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PRCT: GUIDED $325.5M, HID PRICING HEADWIND -- LEVI & KORSINSKY, LLP INVESTIGATES

Mar -26

Source: globenewswire.com

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PRCT: $50.2M ADJUSTED EBITDA LOSS VS. $35M PROJECTED -- LEVI & KORSINSKY, LLP INVESTIGATES

Mar -25

Source: prnewswire.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: 6.6

Growth: 6.2

Quality: 4.5

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Momentum: 0.0

Volatility: 3.0

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A-Score: 3.2/10

Value: 6.2

Growth: 1.8

Quality: 5.5

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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

25.67$

Current Price

25.67$

Potential

-0.00%

Expected Cash-Flows