PROCEPT BioRobotics (NASDAQ:PRCT) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Key Points

• PROCEPT reported Q1 EPS of ($0.56), missing estimates by $0.01 while revenue rose ~20% YoY to $83.1 million, though the company still shows a negative net margin and return on equity.
• The company hit a 65% gross margin milestone and reiterated a path to positive adjusted EBITDA in Q4 2026 alongside product and regulatory momentum (HYDROS launches, FDA clearance for FirstAssist AI Gen2).
• Operating expenses pushed the Q1 net loss to $31.6M with an adjusted EBITDA loss of $18.1M, but the firm has about $249 million in cash; the stock fell roughly 5.7% and insiders have been active, including a director purchasing ~98,699 shares.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) issued its earnings results on Wednesday. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.01), Zacks reports. PROCEPT BioRobotics had a negative return on equity of 25.13% and a negative net margin of 31.02%.The company's revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.45) earnings per share.

Here are the key takeaways from PROCEPT BioRobotics' conference call:

• PROCEPT reported a solid start to 2026 with $83.1 million in Q1 revenue (+20% YoY), ~12,200 U.S. procedures (+30% YoY), 49 HYDROS system sales, and record U.S. system ASPs (~$485,000) with handpiece ASPs around $3,500.
• The company hit a key margin milestone with a 65% gross margin in Q1 (in line with full‑year guidance) and reiterated a path to positive adjusted EBITDA in Q4 2026.
• Management completed a commercial realignment into regional integrated teams and dedicated launch teams, which caused short‑term disruption to procedure/handpiece trends in Q1 but is expected to drive stronger utilization and faster ramping in the back half of 2026.
• Clinical and regulatory momentum accelerated: the EAU upgraded Aquablation with a strong recommendation versus TURP, FDA cleared FirstAssist AI Gen2, HYDROS launched in the U.K., WATERFORT enrollment nears completion, and WATER IV primary endpoint is planned for AUA 2027.
• Operating expenses rose to $86.6 million, Q1 net loss widened to $31.6 million and adjusted EBITDA loss was $18.1 million; full‑year adjusted EBITDA is still guided to a loss of $30M–$17M despite cash of $249 million supporting execution.

PROCEPT BioRobotics Stock Down 5.7%

NASDAQ PRCT traded down $1.32 during trading hours on Wednesday, hitting $21.71. The company had a trading volume of 2,146,606 shares, compared to its average volume of 1,531,861. PROCEPT BioRobotics has a fifty-two week low of $19.35 and a fifty-two week high of $66.85. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -12.70 and a beta of 0.94. The company has a debt-to-equity ratio of 0.14, a current ratio of 6.85 and a quick ratio of 5.77. The firm's 50 day moving average is $25.24 and its 200 day moving average is $29.56.

Insider Activity at PROCEPT BioRobotics

In related news, Director Antal Rohit Desai purchased 98,699 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was purchased at an average cost of $24.55 per share, for a total transaction of $2,423,060.45. Following the acquisition, the director owned 426,262 shares in the company, valued at approximately $10,464,732.10. This trade represents a 30.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alaleh Nouri sold 5,363 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $25.96, for a total value of $139,223.48. Following the completion of the sale, the executive vice president owned 105,354 shares of the company's stock, valued at approximately $2,734,989.84. This represents a 4.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders purchased 426,262 shares of company stock worth $10,483,091 and sold 23,229 shares worth $573,466. 17.40% of the stock is owned by insiders.

Institutional Trading of PROCEPT BioRobotics

Several large investors have recently modified their holdings of PRCT. Caitong International Asset Management Co. Ltd grew its stake in shares of PROCEPT BioRobotics by 436.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company's stock valued at $29,000 after acquiring an additional 746 shares in the last quarter. US Bancorp DE grew its stake in shares of PROCEPT BioRobotics by 175.7% during the third quarter. US Bancorp DE now owns 1,693 shares of the company's stock valued at $60,000 after acquiring an additional 1,079 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of PROCEPT BioRobotics during the fourth quarter valued at about $68,000. Lazard Asset Management LLC grew its stake in shares of PROCEPT BioRobotics by 90.7% during the second quarter. Lazard Asset Management LLC now owns 1,703 shares of the company's stock valued at $98,000 after acquiring an additional 810 shares in the last quarter. Finally, Osaic Holdings Inc. grew its stake in shares of PROCEPT BioRobotics by 20.3% during the second quarter. Osaic Holdings Inc. now owns 2,001 shares of the company's stock valued at $115,000 after acquiring an additional 337 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PRCT has been the topic of several research reports. Oppenheimer reaffirmed a "market perform" rating on shares of PROCEPT BioRobotics in a research report on Thursday, February 26th. Jefferies Financial Group lowered PROCEPT BioRobotics from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 26th. TD Cowen cut their target price on PROCEPT BioRobotics from $50.00 to $34.00 and set a "buy" rating on the stock in a research report on Thursday, February 26th. Truist Financial cut their target price on PROCEPT BioRobotics from $47.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, February 27th. Finally, Wells Fargo & Company cut their target price on PROCEPT BioRobotics from $51.00 to $34.00 and set an "overweight" rating on the stock in a research report on Thursday, February 26th. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $40.82.

About PROCEPT BioRobotics

PROCEPT BioRobotics, Inc is a medical device company specializing in the development and commercialization of robotic systems for the treatment of benign prostatic hyperplasia (BPH). The company's technology leverages precision robotics and real-time imaging to perform minimally invasive procedures, aiming to reduce patient recovery time and improve clinical outcomes compared to traditional surgical approaches.

The company's flagship product, the AquaBeam Robotic System, uses a high-velocity waterjet to selectively remove prostate tissue while preserving surrounding healthy structures.

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