Procept Biorobotics Stock Earnings Reports

Key investor takeaways from PROCEPT BioRobotics Q1 2026 earnings call: 1) Solid top-line start: Q1 revenue $83.1M (+20% YoY) with U.S. revenue $72M; ~12,200 U.S. procedures in Q1 (+~30% YoY). 2) Capital traction: 49 Hydros systems sold in the U.S. (including 2 replacements) at a record Q1 ASP of ~$485k; U.S. installed base of 765 systems. 3) Consumables: Handpiece ASP ~$3,500 (+10% YoY); handpieces sold represented ~95% of procedures in Q1 with management reiterating a full‑year ~1:1 handpiece:procedure expectation. 4) Profitability path: Gross margin 65% in Q1 (management’s full‑year gross margin guide remains ~65%); adjusted EBITDA loss guidance narrowed to ($30M) to ($17M) for FY2026 and management expects positive adjusted EBITDA in Q4 2026. 5) FY2026 guidance: Total revenue expected $390M–$410M (growth ~27%–33%); U.S. procedures 60,000–64,000; international revenue ~$50M–$51M. Q2 revenue guide: $91M–$95M. 6) Balance sheet: Cash, cash equivalents and restricted cash $249M at 3/31/26. 7) Operational update: Company completed a commercial realignment into regional integrated teams and launched a dedicated launch team to accelerate site ramp; management expects more benefit in H2 2026 as the changes settle. 8) Clinical/regulatory progress: EAU upgraded Aquablation therapy recommendation; FirstAssist AI (2nd gen) cleared by FDA; first international Hydros launches in the U.K.; WATER IV enrollment expected to complete in May with primary endpoint presentation targeted for AUA 2027. 9) Risks/notes: Some short‑term disruption from the commercial realignment impacted Q1 procedure growth and handpiece cadence; management is focusing on pricing discipline and sustainable execution rather than over‑committing to one quarter’s ASPs.