PROCEPT BioRobotics Q1 revenue $14.2M (+97% YoY); raises FY2022 revenue guidance to $58-62M

PROCEPT BioRobotics Corp

2022-Q1 EPS reported -$0.39 revenue$14,197,000

Q1 total revenue $14.2M, +97% YoY; U.S. system revenue $7.8M (+70%), handpiece & consumables $4.4M (+174%).
Net loss widened to $17.2M from $12.8M; operating expenses $23.4M, up from $14.9M.
Raised FY2022 revenue guidance to $58-62M (prior $54-58M); reaffirms Adjusted EBITDA loss of ($63)-($60)M.
Install base of Aquabeam Robotic Systems in U.S. grew to 93 systems; received regulatory approvals in Korea and Japan.
Gross margin improved to 54% from 49%; cash & short-term investments $284.3M, long-term debt $50.0M.

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