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PROCEPT BioRobotics
(NASDAQ:PRCT)
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Rating:55Neutral
Price Target:
$20.50
▼(-5.09% Downside)
Action:Reiterated
Date:10/02/26
The score is held back primarily by continued heavy losses and worsening cash burn (financing risk), reinforced by a clearly bearish technical setup (price below key moving averages and negative MACD). Offsetting factors include strong revenue growth and improving gross margins, plus constructive 2026 guidance and an outlined path to positive adjusted EBITDA in Q4 2026; valuation remains constrained by negative earnings and no dividend.
Positive Factors
Revenue and Procedure Growth
Strong revenue and procedure growth indicates expanding adoption of Aquablation and increasing utilization of the installed HYDROS base. If sustained, higher procedure volume should support recurring consumables revenue and improve operating leverage as the commercial platform scales.
Negative Factors
Persistent Losses and Cash Burn
Continued operating and free-cash-flow losses mean growth is not yet self-funded and increase dependence on available liquidity or financing. If profitability is delayed, ongoing cash consumption could restrict investment flexibility and raise the importance of reaching management’s EBITDA targets.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Procedure Growth
Strong revenue and procedure growth indicates expanding adoption of Aquablation and increasing utilization of the installed HYDROS base. If sustained, higher procedure volume should support recurring consumables revenue and improve operating leverage as the commercial platform scales.
Read all positive factors
PROCEPT BioRobotics Key Performance Indicators (KPIs)
Any
Revenue by Segment
Separates income from capital device sales, consumable disposables, and recurring services or training, showing how much revenue is one-time versus repeatable. A higher share of consumables and service revenue points to more predictable, annuity-like cash flow from the installed base, while heavy reliance on device sales makes results more dependent on hospital budgets and adoption cycles.
Separates income from capital device sales, consumable disposables, and recurring services or training, showing how much revenue is one-time versus repeatable. A higher share of consumables and service revenue points to more predictable, annuity-like cash flow from the installed base, while heavy reliance on device sales makes results more dependent on hospital budgets and adoption cycles.
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The Fly
The FlyPROCEPT BioRobotics (PRCT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.14B
Dividend YieldN/A
Average Volume (3M)1.34M
Price to Earnings (P/E)―
Beta (1Y)0.68
Revenue Growth22.69%
EPS Growth-25.05%
CountryUS
Employees888
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-1.94
Shares Outstanding57,273,660
10 Day Avg. Volume1,272,916
30 Day Avg. Volume1,343,207
Financial Highlights & Ratios
PEG Ratio10.67
Price to Book (P/B)4.78
Price to Sales (P/S)5.67
P/FCF Ratio-29.95
Enterprise Value/Market Cap1.00
Enterprise Value/Revenue3.37
Enterprise Value/Gross Profit5.29
Enterprise Value/Ebitda-11.50
Forecast
1Y Price Target
$22.89Price Target Upside5.97% Upside
Rating ConsensusHold
Number of Analyst Covering12
EPS Forecast (FY)-1.67
Revenue Forecast (FY)$395.29M
PROCEPT BioRobotics Business Overview & Revenue Model
Company Description
PROCEPT BioRobotics Corporation specializes in pioneering surgical robotic technologies, offering innovative solutions within the field of urology. Its flagship product is the AquaBeam Robotic System, a sophisticated, image-guided surgical robot d...
How the Company Makes Money
PROCEPT BioRobotics primarily makes money by selling and supporting its HYDROS Robotic System ecosystem used for Aquablation therapy in hospitals and surgical centers. Key revenue streams generally include: (1) System revenue: upfront sales (or ot...
PROCEPT BioRobotics Earnings Call Summary
Earnings Call Date:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call presents a generally positive outlook driven by strong HYDROS adoption, record pricing, solid top-line growth (Q2 revenue +19% and procedures +21% YoY), important clinical and regulatory milestones, and a clear path to positive adjusted EBITDA in Q4 2026. Offsetting risks include a concentrated procedure shortfall in legacy AQUABEAM accounts, higher operating expenses that widened losses in the quarter, and some one-time benefits (tariff recovery) supporting margins. Management is focused on upgrades, scaling launch teams, and patient-activation initiatives to drive durable utilization improvements.Positive Updates
Top-line Revenue and Procedure Growth
Total revenue of $94.5M in Q2 2026, up 19% year-over-year; U.S. revenue $83.4M, up 20% YoY. U.S. procedures exceeded 13,100 in the quarter, up ~21% YoY.
Negative Updates
Procedure Shortfall Concentrated in Legacy AQUABEAM Accounts
Although overall U.S. procedures grew 21% YoY, Q2 procedure volume was softer than expected and the shortfall was concentrated primarily in legacy AQUABEAM accounts. AQUABEAM and HYDROS installed base is roughly split ~50/50, but AQUABEAM performance declined recently.
Read all updates
Q2-2026 Updates
Positive
Negative
Top-line Revenue and Procedure Growth
Total revenue of $94.5M in Q2 2026, up 19% year-over-year; U.S. revenue $83.4M, up 20% YoY. U.S. procedures exceeded 13,100 in the quarter, up ~21% YoY.
Read all positive updates
Company Guidance
Management reiterated 2026 guidance calling for total revenue of approximately $390–410 million (≈27–33% growth vs. 2025), international revenue of $50–51 million, and U.S. procedures of about 54,000–56,000 (≈25–29% growth), with a full‑year handpiece:procedure ratio of ~1:1 (Q2 handpiece ASP ~$3,550; handpiece revenue guidance implies roughly $200–215 million) and implied system revenue of roughly $210–220 million; they expect H2 new U.S. HYDROS ASP of ~$480–490k (Q2 HYDROS ASP ~$495k), about 40 replacement sales at a ~$300–325k ASP at the midpoint, full‑year gross margin of ~65%, operating expenses of $355–360 million, an adjusted EBITDA loss of $35–30 million with positive adjusted EBITDA forecast for Q4, and cash, cash equivalents and restricted cash of $231 million as of June 30, 2026.PROCEPT BioRobotics Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
72
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 337.34M | 308.05M | 224.50M | 136.19M | 75.01M | 34.47M |
| Gross Profit | 215.03M | 196.23M | 137.10M | 71.05M | 37.09M | 15.87M |
| EBITDA | -98.95M | -85.41M | -82.00M | -98.09M | -79.13M | -50.72M |
| Net Income | -109.75M | -95.57M | -91.41M | -105.90M | -87.15M | -59.85M |
Balance Sheet | ||||||
| Total Assets | 479.35M | 508.08M | 534.02M | 404.72M | 309.33M | 337.02M |
| Cash, Cash Equivalents and Short-Term Investments | 227.91M | 286.50M | 333.73M | 257.22M | 222.64M | 304.32M |
| Total Debt | 77.50M | 78.48M | 80.25M | 79.20M | 77.32M | 54.10M |
| Total Liabilities | 139.28M | 142.21M | 131.80M | 123.97M | 112.26M | 69.93M |
| Stockholders Equity | 340.07M | 365.87M | 402.22M | 280.75M | 197.07M | 267.09M |
Cash Flow | ||||||
| Free Cash Flow | -125.97M | -58.34M | -103.62M | -133.21M | -83.03M | -57.93M |
| Operating Cash Flow | -112.47M | -48.98M | -99.21M | -108.00M | -80.38M | -57.33M |
| Investing Cash Flow | -13.50M | -9.36M | -4.41M | -25.21M | -2.65M | -592.00K |
| Financing Cash Flow | 10.46M | 11.19M | 180.13M | 167.79M | 3.61M | 262.12M |
PROCEPT BioRobotics Technical Analysis
Positive
21.60
Price Trends
19.55
Positive
20.47
Negative
23.63
Negative
Market Momentum
0.01
Negative
57.23
Neutral
75.30
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PRCT, the sentiment is Positive. The current price of 21.6 is above the 20-day moving average (MA) of 18.23, above the 50-day MA of 19.55, and below the 200-day MA of 23.63, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 57.23 is Neutral, neither overbought nor oversold. The STOCH value of 75.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PRCT.
PROCEPT BioRobotics Risk Analysis
PROCEPT BioRobotics disclosed 77 risk factors in its most recent earnings report. PROCEPT BioRobotics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
PROCEPT BioRobotics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $122.05B | 23.33 | 10.60% | 3.00% | 9.77% | 12.28% | |
66 Neutral | $66.22B | 18.42 | 14.90% | ― | 13.53% | 46.29% | |
66 Neutral | $1.48B | 26.59 | 5.51% | 0.41% | 3.86% | -48.06% | |
55 Neutral | $1.14B | -10.29 | -30.62% | ― | 22.69% | -25.05% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | $451.08M | -34.51 | -26.77% | ― | 89.98% | -0.32% |
* Healthcare Sector Average
PRCT
PROCEPT BioRobotics
19.96
-16.39
-45.09%
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45.69
-56.74
-55.39%
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1.89
3.99%
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95.41
4.30
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SSII
SS Innovations International
2.25
-6.35
-73.84%
PROCEPT BioRobotics Corporate Events
Business Operations and StrategyExecutive/Board Changes
PROCEPT BioRobotics Adds Esteemed Surgeon to Board
Positive
Oct 2, 2026
On October 2, 2026, PROCEPT BioRobotics expanded its board of directors from nine to ten members and appointed cardiac surgeon Dr. Michael Mack as a Class II independent director, with a term running until the 2029 annual meeting of stockholders. ...
Business Operations and StrategyPrivate Placements and Financing
PROCEPT BioRobotics Extends Term Loan Maturity Agreement
Positive
Sep 24, 2026
On September 23, 2026, PROCEPT BioRobotics Corporation amended its Loan and Security Agreement with Canadian Imperial Bank of Commerce, marking the third modification to the financing arrangement originally executed in October 2022. The latest ame...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.