PROCEPT BioRobotics Q1 revenue up 72% to $24.4M; raises FY2023 revenue guidance to $128M

PROCEPT BioRobotics Corp

2023-Q1 EPS reported -$0.63 revenue$24,404,000

Total revenue $24.4M (+72% YoY); U.S. handpiece/consumables $11.8M (+165% YoY).
Net loss $28.5M vs $17.2M; Adjusted EBITDA loss $23.9M vs $13.5M.
FY2023 revenue guidance raised to $128M (from $125M); gross margin guidance ~54% (from ~53%).
United Healthcare positive coverage policy effective June 1, 2023; national sales contract with largest U.S. IDN signed April 1.
U.S. install base 192 AquaBeam systems; monthly utilization per account 6.3, up 14% YoY.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PROCEPT BioRobotics Corp reported full year 2023 results: revenue $128 million. Guidance raised.

Period: full year 2023
Revenue: $128 million
Guidance: raised
Result: guidance update

Exact text from the filing

The Company projects revenue for the full year 2023 to be $128 million, which represents 71% growth over the Company’s prior year revenue.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PROCEPT BioRobotics Corp reported the quarter ended March 31, 2023 results: revenue Total revenue of $24.4 million for the first quarter of 2023, net income Net loss was $28.5 million for the first quarter of 2023.

Period: the quarter ended March 31, 2023
Revenue: Total revenue of $24.4 million for the first quarter of 2023
Net income: Net loss was $28.5 million for the first quarter of 2023
Result: reported results

Exact text from the filing

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 March 31, 2023.

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Source: SEC EDGAR

accession 0001588978-23-000012

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