Core Insights - PROCEPT BioRobotics Corporation reported a strong performance with a 43% year-over-year global revenue growth for Q3 2025, driven by increased demand for the HYDROS® Robotic System and Aquablation therapy adoption [3][4]. Financial Performance - Total revenue for Q3 2025 was $83.3 million, a 43% increase compared to Q3 2024 [4][9]. - U.S. revenue reached $73.9 million, reflecting a 42% growth year-over-year, primarily from system sales and increased handpiece revenue [4][9]. - U.S. handpiece and consumable revenue was $44.4 million, up 50% from the previous year, while system revenue was $24.7 million, a 26% increase [4][9]. - International revenue for the quarter was $9.4 million, marking a 53% increase compared to the prior year [4][9]. Gross Margin and Operating Expenses - Gross margin improved to 65% in Q3 2025 from 63% in the prior year, attributed to operational efficiencies despite increased tariff expenses [5]. - Operating expenses rose to $77.2 million from $59.3 million in the prior year, driven by expansion of the commercial organization and increased R&D and administrative expenses [6]. Net Loss and Adjusted EBITDA - The net loss for Q3 2025 was $21.4 million, slightly higher than the $21.0 million loss in Q3 2024 [7]. - Adjusted EBITDA loss improved to $7.4 million from a loss of $12.4 million in the prior year [7][18]. Cash Position - As of September 30, 2025, the company had cash, cash equivalents, and restricted cash totaling $297.3 million [7]. Full Year Guidance - The company maintains its revenue guidance for the full year 2025 at approximately $325.5 million, representing a 45% growth over the previous year [8][9]. - For 2026, the projected revenue is between $410 million and $430 million, indicating a growth of 26% to 32% compared to 2025 [10][9].

Core Insights - PROCEPT BioRobotics announced the appointment of Larry L. Wood as president and CEO effective September 2, 2025, succeeding Dr. Reza Zadno who will retire on September 1, 2025 [1][3] - Dr. Zadno has led the company through significant growth, including the adoption of Aquablation® therapy for BPH treatment and a successful public offering in 2021 [2][3] - The company pre-announced second quarter 2025 revenue of approximately $79.2 million, representing an annual growth of 48% [5][4] Leadership Transition - Larry L. Wood brings over 40 years of experience in the medical technology industry, previously serving at Edwards Lifesciences and Baxter Healthcare [4][3] - Wood has been a member of PROCEPT BioRobotics' board of directors since 2024 and is recognized for his leadership in the medical device sector [4][3] - The board expressed confidence in Wood's ability to lead the company through its next growth phase, emphasizing his experience in clinically demanding medical device categories [4][3] Company Performance - Under Dr. Zadno's leadership, the number of global Aquablation procedures increased from a few hundred to nearly 100,000, and the company raised over $600 million in capital [2][3] - The company aims to revolutionize BPH treatment globally by delivering advanced robotic solutions that positively impact patient care [5][6] - PROCEPT BioRobotics has developed a significant body of clinical evidence supporting the benefits of Aquablation therapy, with over 150 peer-reviewed publications [6]