PROCEPT BioRobotics (PRCT) - 2024 Q4 - Annual Results

Revenue Performance - Total revenue for Q4 2024 was $68.2 million, a 57% increase compared to the prior year period[4] - Full year 2024 total revenue reached $224.5 million, a 65% increase from $136.2 million in 2023[11] - Total revenue for the twelve months ended December 31, 2024, was $224.498 million, a 65% increase compared to $136.191 million in 2023[33] - U.S. total revenue for the three months ended December 31, 2024, was $60.389 million, up 50% from $40.269 million in the same period of 2023[33] - U.S. handpiece and consumables revenue for Q4 2024 was $29.3 million, a 36% increase compared to the prior year[10] - Handpieces and other consumables revenue in the U.S. for the twelve months ended December 31, 2024, reached $110.542 million, a significant increase of 73% from $64.051 million in 2023[33] Profitability and Loss - Net loss for Q4 2024 was $18.9 million, an improvement from a loss of $27.5 million in the prior year[7] - PROCEPT BioRobotics Corporation reported a net loss of $80 million for 2025, with an adjusted EBITDA of $(35) million[29] Operating Expenses - Operating expenses for Q4 2024 were $63.4 million, compared to $50.8 million in the prior year, marking a significant increase[6] Gross Margin - Gross margin for Q4 2024 improved to 64%, up from 49% in the prior year period[5] Assets and Liabilities - Total assets increased to $534.017 million in 2024, up from $404.717 million in 2023, representing a growth of approximately 32%[31] - Current assets rose to $481.842 million in 2024, compared to $350.567 million in 2023, marking a 37% increase[31] - Total liabilities increased slightly to $131.797 million in 2024 from $123.965 million in 2023[31] - The company's accumulated deficit increased to $(545.985) million in 2024 from $(454.572) million in 2023[31] - Cash and cash equivalents grew to $333.725 million in 2024, up from $257.222 million in 2023, indicating a 30% increase[31] Future Projections - The company projects total revenue for 2025 to be approximately $320 million, representing a 42% growth over 2024[10] - The company anticipates a depreciation and amortization expense of $6.8 million for 2025[29] Technological Advancements - The company received FDA 510(k) clearance for the HYDROS™ Robotic System in August 2024, marking a significant technological advancement[3] Install Base - The install base of AquaBeam and Hydros Robotic Systems in the U.S. was 505 systems as of December 31, 2024[4]