Table of Contents 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 CORPORATION (Exact name of registrant as specified in its charter) ___________________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________ FORM 10-K ___________________________________ (Mark ...

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Q4 2023 Earnings Conference Call February 27, 2024 4:30 PM ET Company Participants Matt Bacso - VP, IR and Business Operations Reza Zadno - President and CEO Kevin Waters - EVP and CFO Conference Call Participants Craig Bijou - Bank of America Joshua Jennings - TD Cowen Matthew O'Brien - Piper Sandler Chris Pasquale - Nephron Research Brandon Vasquez - William Blair Nathan Treybeck - Wells Fargo Mike Kratky - Leerink Partners Operator Good day and thank you for ...

44 2024 Financial Guidance Actual 2023 Guidance FY241 Revenue : OPEX Growth Ratio 1.5x ~1.9x Total Revenue ($ Mil) Non-GAAP Reconciliations RECONCILIATION OF 2024 GAAP NET LOSS TO ADJUSTED EBITDA Guidance (in thousands) References 3. WATER U.S. pivotal trial 2014, Ortman, An Aging Nation: The Older Population in the United States Vuichoud, C, Loughlin, K. Benign prostatic hyperplasia: epidemiology, economics and evaluation. Can J Urol. 2015 Oct;22 Suppl 1:1-6. Vuichoud, C, Loughlin, K. Benign prostatic hype ...

PROCEPT BioRobotics Reports Fourth Quarter and Full Year 2023 Results SAN JOSE, Calif., February 27, 2024 -- PROCEPT® BioRobotics Corporation (Nasdaq: PRCT) (the "Company"), a surgical robotics company focused on advancing patient care by developing transformative solutions in urology, today reported financial results for the year ended December 31, 2023. Recent Highlights "I am extremely proud of our commercial achievements in 2023," said Reza Zadno, Chief Executive Officer. "We succeeded in elevating the ...

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, 2023 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) Indicate by check mark whether ...

7 U.S. men actively MANAGED for BPH 12M All numbers are approximate. Vuichoud, C, Loughlin, K. Benign prostatic hyperplasia: epidemiology, economics and evaluation. Can J Urol. 2015 Oct;22 Suppl 1:1-6. Data on File, PROCEPT BioRobotics Total surgeries based on 2019 market data, representing pre-pandemic surgeries PHARMACEUTICAL FALLOUT C o p y r i g h t 2 0 2 3 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 . REAL-TIME, MULTI-DIMENSIONAL VISUALIZATION OF THE EN ...

Financial Data and Key Metrics Changes - Total revenue for Q3 2023 was $35.1 million, representing a growth of 72% compared to Q3 2022 [7][38] - U.S. revenue for the quarter was $32.3 million, reflecting a growth of 73% year-over-year [38] - Net loss for Q3 2023 was $24.6 million, compared to a net loss of $22.6 million in the same period of the prior year [42] - Adjusted EBITDA loss was $19.4 million, compared to a loss of $18.3 million in Q3 2022 [42] - Cash and cash equivalents as of September 30, 2023, were approximately $287 million, including $162 million raised from an equity offering [42][36] Business Line Data and Key Metrics Changes - Sold 38 robots in the U.S. during Q3 2023, representing a unit growth of 46% compared to the prior year [8] - U.S. handpiece and consumable revenue increased by 113% compared to Q3 2022, amounting to $17 million [9][18] - Monthly utilization per account was 6.4 handpieces, which increased sequentially by 5% compared to Q2 2023 [10][39] - U.S. install base grew by 62% compared to the end of 2022, reaching 271 systems by the end of Q3 2023 [30][40] Market Data and Key Metrics Changes - International revenue for Q3 was $2.8 million, representing a growth of 62% [41] - The company expects full-year international revenue to be approximately $11.5 million [22] - In the UK, NICE granted a strong endorsement for Aquablation therapy, which is expected to enhance market penetration [13] Company Strategy and Development Direction - The company plans to invest in expanding its sales infrastructure in the UK to accelerate growth [35] - The strategy focuses on long-term clinical data, gaining reimbursement coverage, and building a high-performing sales team [28] - The company aims to become the standard of care for treating men with BPH, with Aquablation therapy currently representing only 6% of annual receptive BPH procedures in the U.S. [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving long-term growth plans, citing positive trends in all tracked metrics [16] - The company is not providing 2024 financial guidance but remains optimistic about growth drivers such as increased utilization and a robust capital sales pipeline [50][51] - Management noted that the addition of UnitedHealthcare coverage allows access to approximately 95% of men in the U.S. [37] Other Important Information - The company completed an equity follow-on offering in August 2023, raising $162 million to strengthen its balance sheet [15] - The company moved its corporate headquarters to a larger facility in San Jose to support future growth [36] Q&A Session Summary Question: How are new systems performing in terms of utilization? - Management noted that new accounts typically launch with two to three surgeons, contributing to increased utilization [46][65] Question: What are the key drivers for revenue growth in 2024? - Management highlighted strong pipeline growth, increased utilization, and the addition of UnitedHealthcare as key drivers for future growth [50][51] Question: How does the company view the competitive landscape regarding TURP and Greenlight procedures? - Management indicated that TURP and Greenlight are the primary competitors, with Aquablation therapy offering advantages such as shorter therapy time and faster recovery [76] Question: What is the expected impact of IDN relationships on pricing? - Management stated that IDN relationships do not negatively impact system average selling prices and that they are on track to have most large IDNs under contract by the end of 2023 [79] Question: Can you provide insights on the Aquablation therapy for prostate cancer? - Management expressed excitement about the potential of Aquablation therapy for prostate cancer, emphasizing that it is still early in the research phase [126][127]

Financial Data and Key Metrics Changes - Total revenue for Q2 2023 was $33.1 million, representing growth of 98% compared to Q2 2022 [140] - U.S. revenue for the quarter was $29.9 million, representing growth of 102% compared to the prior year period [145] - Net loss was $25.3 million for Q2 2023 compared to $19.2 million in the same period of the prior year [32] - Adjusted EBITDA was a loss of $19.9 million compared to a loss of $14.6 million in Q2 2022 [32] - Gross margin for Q2 2023 was a record 56%, with full year 2023 gross margins expected to be approximately 55% [30][26] Business Line Data and Key Metrics Changes - Sold a record 40 robotic systems in the U.S., generating total U.S. system revenue of $14.8 million, representing growth of 74% compared to the prior year [5][9] - U.S. handpiece and consumable revenue increased 138% compared to Q2 2022, with 3,904 handpieces shipped in Q2 2023, representing unit growth of 124% [29][41] - Average selling price for systems was $370,000, up 5% compared to Q1 2023 [10] Market Data and Key Metrics Changes - International revenue for Q2 was $3.2 million, representing growth of 68% compared to the prior year period, driven primarily by strong performance in the U.K. [30][144] - Approximately 95% of men in the U.S. now have access to Aquablation therapy following UnitedHealthcare's updated coverage policy [7] Company Strategy and Development Direction - The company plans to invest further in the U.K. market to accelerate growth and expand patient awareness [8] - The company continues to expect approximately 55% of system sales to be in the second half of 2023, equating to 144 placements for the full year [23] - The company signed a national sales contract with the largest IDN in the U.S., which will secure pricing for system placements and handpieces sold [136] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting sales expectations due to a growing capital sales pipeline and high surgeon retention rates [5][6] - Management noted that while Q3 system sales are expected to be down relative to Q2, Q4 is anticipated to be the strongest quarter of the year [23] - Management highlighted that the increase in operating expenses is associated with strategic investments in R&D and commercial team expansion [26] Other Important Information - The company expects full year 2023 total revenue guidance to be $131 million, representing growth of 75% compared to 2022 [33] - The company anticipates a modest benefit from UnitedHealthcare's coverage in Q4, contributing to expanded utilization [148] Q&A Session All Questions and Answers Question: Can you provide insights on patient demand for Aquablation treatment? - Management noted that there is an increase in patient demand, with patients actively seeking Aquablation treatment and awareness growing through online activities [40][52] Question: What are the plans for capital rep sales force expansion in 2023? - Management indicated that the capital sales team has been expanded from 20 to 30 reps, with plans to continue adding more reps to ensure continuity and support for growth [55] Question: How do you expect the impact of UnitedHealthcare's coverage to manifest? - Management does not anticipate a significant impact in Q3 but expects a modest benefit in Q4 from the coverage expansion [148][86] Question: Can you comment on the capital environment and system placements? - Management observed that hospitals are prioritizing spending on innovative treatments, which aligns with the company's offerings [112] Question: What is the typical time frame to close on a system placement? - Management stated that the typical time frame to close on a system placement ranges from 3 to 9 months, depending on various factors [122]

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 June 30, 2023 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 If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition peri ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 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 | | --- | --- | -- ...