PROCEPT BioRobotics Q3 revenue $35.1M (+72% YoY); raises FY2023 guidance to $133.5M

PROCEPT BioRobotics Corp

2023-Q3 EPS reported -$1.70 revenue$92,610,000

Revenue $35.1M, up 72% YoY; U.S. handpiece/consumables $17.0M, up 113%.
Sold 38 U.S. robotic systems in Q3; install base 271; system revenue $13.5M, +37%.
Gross margin 54% vs 50% prior year; net loss $24.6M vs $22.6M.
FY2023 revenue guidance raised to $133.5M (78% growth) from $131.0M; Adj. EBITDA loss guided to ($76.9M).
Completed $162M equity follow-on; received FDA IDE for Aquablation prostate cancer trial.

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 the quarter ended September 30, 2023 results: revenue $35.1 million, net income $24.6 million.

Period: the quarter ended September 30, 2023
Revenue: $35.1 million
Net income: $24.6 million
Result: reported results

Exact text from the filing

Total revenue for the third quarter of 2023 was $35.1 million, an increase of 72% compared to the prior year period. U.S. revenue was $32.3 million, representing growth of 73% compared to the prior year period. The increase was primarily driven by increased handpiece revenue and system sales to new hospital customers. U.S. handpiece and consumable revenue for the third quarter of 2023 was $17.0 million, an increase of 113% compared to the prior year period. Third quarter of 2023 monthly utilization per account increased 6% compared to the prior year period. U.S. system revenue for the third quarter of 2023 was $13.5 million, an increase of 37% compared to the prior year period. As of September 30, 2023, the install base of AquaBeam Robotic Systems in the U.S. was 271 systems. International revenue was $2.8 million for the quarter, an increase of 62% compared to the prior year period. Gross margin for the third quarter 2023 was 54% compared to 50% in the prior year period. Gross margin

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PROCEPT BioRobotics Corp reported full year 2023 results: revenue approximately $133.5 million. Guidance raised.

Period: full year 2023
Revenue: approximately $133.5 million
Guidance: raised
Result: guidance update

Exact text from the filing

The Company projects revenue for the full year 2023 to be approximately $133.5 million, which represents 78% growth over the Company’s prior year revenue.

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PROCEPT BioRobotics Corp filing history →

Source: SEC EDGAR

accession 0001588978-23-000025

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