PROCEPT Biorobotics Reports Third Quarter 2026 Financial Results And Reaffirms 2026 Financial Guidance

(MENAFN- GlobeNewsWire - Nasdaq) 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 18% revenue growth and 22% U.S. procedure growth while accelerating our replacement cycle to transition AquaBeam systems to HYDROS.”

Third Quarter 2026 Financial Results

• Total revenue of $98.3 million for the third quarter of 2026, an increase of 18% 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 increased 12% compared to the third quarter of 2025
• International revenue of $12.5 million for the third quarter of 2026, an increase of 32% compared to the prior year period
• Gross margin of 66% for the third quarter of 2026, compared to 65% in the prior year period.
  

Total revenue for the third quarter of 2026 was $98.3 million, an increase of 18% compared to the prior year period. The increase was driven by increased U.S. handpiece and system revenue and international revenue. U.S. revenue was $85.8 million, representing growth of 16% compared to the prior year period. U.S. handpiece and consumable revenue for the third quarter of 2026 was $53.9 million, an increase of 21% compared to the prior year period. U.S. system revenue for the third quarter of 2026 was $24.7 million, flat compared to the prior year period. International revenue was $12.5 million for the quarter, an increase of 32% compared to the prior year period.

Gross margin for the third quarter of 2026 was 66% compared to 65% in the prior year period.

Operating expenses in the third quarter of 2026 were $92.5 million, compared with $77.2 million in the prior year period. The increase in operating expenses reflects continued investment in our people, product development, clinical studies and sales and marketing programs.

Net loss was $26.5 million for the third quarter of 2026, compared to a loss of $21.4 million in the prior year period. Adjusted EBITDA* was a loss of $9.8 million for the third quarter of 2026, compared to a loss of $7.4 million in the prior year period.

Cash, cash equivalents and restricted cash balances as of September 30, 2026, totaled approximately $221.4 million.

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 of 27% to 33% 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% to 29% 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:
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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

Media Contact: Pooja Rao, ...
Investor Contact: Marissa Bych, ...

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

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