PROCEPT BioRobotics (PRCT)
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Procept Biorobotics (PRCT) Investor Presentation - Slideshow
2022-11-10 04:31
1 VISION: THE BPH TREATMENT OF CHOICE FOR ALL PROSTATES November 2022 C o p y r i g h t 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . Safe Harbor Statement This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including the expected financial results of PROCEPT BioRobotics Corporation (the "Company"). Words such as "anticipates," "believes," "expects," "intends," "projects, ...
PROCEPT BioRobotics (PRCT) - 2022 Q3 - Earnings Call Transcript
2022-11-06 13:22
Financial Data and Key Metrics Changes - Total revenue for Q3 2022 was $20.3 million, representing a growth of 135% compared to Q3 2021 [11][32] - U.S. revenue for the quarter was $18.6 million, reflecting a growth of 152% year-over-year [32] - Net loss for Q3 2022 was $22.6 million, compared to a loss of $14.1 million in the same period of the prior year [38] - Adjusted EBITDA was a loss of $18.3 million compared to a loss of $10.9 million in Q3 2021 [39] - Cash and cash equivalents as of September 30, 2022, were $249.2 million [39] Business Line Data and Key Metrics Changes - Sold 26 AquaBeam Robotic Systems in Q3 2022, generating U.S. system revenue of $9.8 million, a growth of 95% compared to Q3 2021 [33] - U.S. handpiece and consumables revenue was $8 million, representing a growth of approximately 267% year-over-year [34] - Utilization per account increased approximately 60% compared to Q3 2021 [35] Market Data and Key Metrics Changes - The installed base of AquaBeam systems in the U.S. reached 139, with approximately 2,700 hospitals performing BPH surgeries [15] - International revenue for Q3 was $41.7 million, representing growth of approximately 34% [36] Company Strategy and Development Direction - The company aims to penetrate high-volume BPH hospitals and increase utilization by treating a full range of prostate sizes [30] - A multi-system national contract was announced with Providence, a health system with 52 hospitals, indicating a focus on large integrated hospital networks [22] - The company plans to continue expanding its field-based commercial team and clinical support staff in 2023 [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business's momentum and increased revenue guidance for 2022 to approximately $72.5 million, representing growth of 110% compared to 2021 [41] - The company is not experiencing material product constraints and is focused on ensuring timely supply to customers [12][16] - Management noted that hospitals are prioritizing investments in innovative technologies despite macroeconomic challenges [50] Other Important Information - The company received additional payer coverage from Horizon and other Blue Cross Blue Shield plans, enhancing market access [28] - The average selling price for handpieces in Q3 was approximately $3,100, with 2,300 handpieces shipped in the U.S. [35] Q&A Session Summary Question: Confidence in system pipeline and trends in funnel - Management expressed confidence in the visibility of system placements and noted that hospitals are prioritizing innovative technologies [49][50] Question: Utilization trends and patient conversion - Management confirmed that the majority of patients treated fall within the 60 to 80 milliliters range, indicating a shift from traditional procedures [55] Question: Impact of staffing trends on operations - Management stated that they have not faced significant staffing shortages affecting procedure volumes [71] Question: Gross margin expectations for 2023 - Management indicated that while investments in operations may limit margin expansion in the near term, they expect significant improvements at scale [60][61] Question: Coverage from United and its impact - Management reassured that the lack of coverage from United would not significantly impact growth due to existing Medicare and private payer coverage [63][65] Question: Update on the WATER III study - Management confirmed that the study is ongoing outside the U.S. and aims to strengthen clinical data for larger prostates [87][89] Question: Strategy regarding Ambulatory Surgery Centers (ASCs) - Management clarified that the focus remains on high-volume hospitals, with ASCs not being a priority at this time [74] Question: Commercial organization and hospital exposure - Management discussed plans to hire sales reps at a constant cadence to enhance market penetration [102][104]
PROCEPT BioRobotics (PRCT) - 2022 Q3 - Quarterly Report
2022-11-04 20:07
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40797 PROCEPT BioRobotics Corporation (Exact name of registrant as specified in its charter) | Delaware | | | 26-0199180 | | ...
PROCEPT BioRobotics (PRCT) - 2022 Q3 - Earnings Call Presentation
2022-11-03 23:10
1 VISION: THE BPH TREATMENT OF CHOICE FOR ALL PROSTATES November 2022 C o p y r i g h t 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . Safe Harbor Statement This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including the expected financial results of PROCEPT BioRobotics Corporation (the "Company"). Words such as "anticipates," "believes," "expects," "intends," "projects, ...
PROCEPT BioRobotics (PRCT) - 2022 Q2 - Earnings Call Transcript
2022-08-07 04:19
PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Q2 2022 Earnings Conference Call August 4, 2022 4:30 PM ET Company Participants Matt Bacso - Investor Relations Reza Zadno - Chief Executive Officer Kevin Waters - Chief Financial Officer Conference Call Participants Joshua Jennings - Cowen Craig Bijou - Bank of America Amit Hazan - Goldman Sachs Matthew Mishan - KeyBanc Neil Chatterji - B. Riley Operator Good afternoon, and welcome to PROCEPT BioRobotics Second Quarter Earnings Conference Call. At this time, al ...
PROCEPT BioRobotics (PRCT) - 2022 Q2 - Quarterly Report
2022-08-05 20:05
Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the transition period from to Commission file number 001-40797 PROCEPT BioRobotics Corporation (Exact name of registrant as specified in its charter) | Delaware | | | 26-0199180 | | --- | --- | --- | --- | | (State or other jurisdiction of incorporation or | | | (I.R.S. Employ ...
PROCEPT BioRobotics (PRCT) - 2022 Q1 - Earnings Call Transcript
2022-05-08 07:12
PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Q1 2022 Earnings Conference Call May 5, 2022 4:30 PM ET Company Participants Matt Bacso - Investor Relations Reza Zadno - Chief Executive Officer Kevin Waters - Chief Financial Officer Conference Call Participants Josh Jennings - Cowen Craig Bijou - Bank of America Amit Hazan - Goldman Sachs Matt Bacso Thanks, operator. Good afternoon and thank you for participating in today’s call. Joining me from PROCEPT BioRobotics are Reza Zadno, CEO and Kevin Waters, CFO. E ...
PROCEPT BioRobotics (PRCT) - 2022 Q1 - Quarterly Report
2022-05-06 20:38
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 (Exact name of registrant as specified in its charter) | Delaware | | | 26-0199180 | | --- | --- | --- | --- | | (State or other jurisdiction of incorporation or | | | (I.R.S. Employer Identification No.) | | organization) | | | | | 900 Island Drive | Redwood City | CA | 94065 | | ( ...
PROCEPT BioRobotics (PRCT) - 2021 Q4 - Annual Report
2022-03-22 20:03
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________ FORM 10-K ___________________________________ (Mark One) ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number 001-04321 ___________________ ...
PROCEPT BioRobotics (PRCT) - 2021 Q4 - Earnings Call Transcript
2022-03-08 16:37
PROCEPT BioRobotics (NASDAQ:PRCT) Q4 2021 Earnings Conference Call March 8, 2022 8:00 AM ET Company Participants Reza Zadno – Chief Executive Officer Matt Bacso – Gilmartin Group Kevin Waters – Chief Financial Officer Conference Call Participants Craig Bijou – Bank of America Phil Ames – Goldman Sachs Chris Pasquale – Guggenheim Anne Hite – SVB Leerink Operator Good morning, ladies and gentlemen. And welcome to PROCEPT BioRobotics Fourth-quarter earnings conference call. At this time, all participants are i ...