PROCEPT Q3 revenue $8.7M up 314% YoY; raises FY 2021 guide to $33.0-$33.3M

PROCEPT BioRobotics Corp

2021-Q3 EPS reported -$5.64 revenue$24,335,000

Total revenue of $8.7M vs. $2.1M in Q3 2020; U.S. system revenue $5.0M vs. $0.6M.
Net loss of $14.1M; cash and short-term investments $320.5M after $172.4M IPO net proceeds.
Gross margin 48.9%, up from -1% in Q3 2020 and 42.2% in Q2 2021.
Full-year 2021 revenue guidance raised to $33.0-$33.3M.
Cigna adopted positive coverage policy for Aquablation, adding 16M covered lives effective Sept 15, 2021.

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