PROCEPT BioRobotics Corporation has recently released its 10-Q report, detailing its financial performance and operations for the period. The company, headquartered in San Jose, California, focuses on developing transformative solutions in urology, particularly in treating benign prostatic hyperplasia (BPH). It has developed the AquaBeam Robotic System and HYDROS Robotic System, both of which are advanced, image-guided, surgical robotic systems for minimally invasive urologic surgery.
In the 10-Q, PROCEPT BioRobotics discussed the factors affecting its performance, including growing its install base of robotic systems, increasing system utilization, reimbursement and coverage decisions by third-party payors, cost of sales, and investment in research and development. The company reported revenue of $69.2 million and a net loss of $24.7 million for the three months ended March 31, 2025, compared to revenue of $44.5 million and a net loss of $26.0 million for the same period in 2024.
The revenue breakdown for the three months ended March 31, 2025, shows that 87% of the company's revenue was generated in the United States, with the remaining 13% from outside the United States. The company expects revenue to continue increasing in absolute dollars as it expands its install base of robotic systems, with a larger increase anticipated in the United States.
During the same period, PROCEPT BioRobotics reported a gross margin of 64%, an increase from 56% in the previous year. The cost of sales increased by 28% to $25.0 million, primarily due to the growth in the number of units sold. The company's operating expenses also increased, with research and development expenses rising by 25% and selling, general and administrative expenses increasing by 39%.
The market has reacted to these announcements by moving the company's shares -1.6% to a price of $54.71. Check out the company's full 10-Q submission here.
