PROCEPT BioRobotics (PRCT) - 2025 Q3 - Quarterly Results

Revenue Performance - Total revenue for Q3 2025 was $83.3 million, a 43% increase year-over-year[4] - U.S. revenue reached $73.9 million, reflecting a 42% growth compared to the prior year[4] - International revenue for the quarter was $9.4 million, a 53% increase year-over-year[4] - Total revenue for the three months ended September 30, 2025, was $83.327 million, a 42.7% increase from $58.370 million in the same period of 2024[28] - U.S. total revenue reached $73.912 million, up 41.5% from $52.215 million year-over-year[28] - Total revenue for the nine months ended September 30, 2025, was $231.671 million, representing a 48.1% increase from $156.262 million in the same period of 2024[28] - Full year 2025 revenue guidance is approximately $325.5 million, representing a 45% increase over the previous year[9] - For fiscal year 2026, the company projects revenue between $410 million and $430 million, indicating growth of 26% to 32% compared to fiscal 2025[13] Product Revenue - U.S. handpiece and consumable revenue was $44.4 million, up 50% year-over-year[4] - Revenue from handpieces and other consumables in the U.S. increased by 50% to $44.411 million compared to $29.620 million in the prior year[28] - System sales and rentals in the U.S. for the three months ended September 30, 2025, were $24.747 million, up from $19.643 million in the same period of 2024[28] - The company reported a total of $9.415 million in revenue from outside the U.S. for the three months ended September 30, 2025, compared to $6.155 million in the prior year[28] Financial Metrics - Gross margin improved to 65% from 63% in the prior year, driven by operational efficiencies[5] - Operating expenses for Q3 2025 were $77.2 million, up from $59.3 million in the prior year[6] - Net loss for Q3 2025 was $21.4 million, compared to a loss of $21.0 million in the prior year[7] - Total current assets decreased to $454.752 million as of September 30, 2025, from $481.842 million at the end of 2024[26] - Total liabilities slightly decreased to $131.265 million from $131.797 million at the end of 2024[26] - Stockholders' equity decreased to $380.276 million from $402.220 million at the end of 2024, reflecting an accumulated deficit of $611.711 million[26] Market Expansion and R&D - The install base of robotic systems in the U.S. increased by 58 systems, totaling 653 systems as of September 30, 2025[10] - The company continues to focus on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[28]