PROCEPT BioRobotics (PRCT)2025-04-24 18:37Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was 24.7 million, compared to a net loss of 60.3 million, representing a growth of 50% compared to the prior year [29] - The company sold 43 robotic systems in Q1 2025, with an average selling price of approximately 38 million, representing a growth of 61% year-over-year, with 11,235 handpieces sold [33] Market Data and Key Metrics Changes - International revenue in Q1 2025 was $8.9 million, representing growth of 104% compared to the prior year, primarily driven by strong sales in the UK [26][34] - The US installed base of robotic systems reached 547, reflecting a growth of 55% compared to the prior year [8] Company Strategy and Development Direction - The company is focused on expanding the installed base of Hydro systems in greenfield accounts while also seeing interest from existing customers for replacements [39] - The management believes that the current tariff environment will not compromise the path to achieving long-term profitability objectives [44] - The company aims to standardize aquablation therapy across hospital networks, driven by consistent outcomes and operational efficiency [22][112] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to continue growing the installed base and procedural volumes despite macroeconomic challenges [25] - The company anticipates a modest impact on 2025 gross margin due to strong inventory positions and limited exposure to foreign suppliers [11][53] - Management highlighted the positive changes in Medicare coverage that will expand access to aquablation therapy [15][126] Other Important Information - The company is preparing for the AUA conference, where it will present significant clinical data related to aquablation therapy [47][49] - The management is actively evaluating operational strategies to mitigate future tariff exposure [44][102] Q&A Session Summary Question: Can you discuss the CapEx environment and buyer interest in the system? - Management has not seen an impact on capital interest in acquiring Hydro systems, with a strong pipeline and high hospital interest [59][60] Question: How many handpieces sold in Q1 were pushed from Q4? - The impact from deferrals in Q4 was largely offset by the saline issue, resulting in Q1 procedures driven by business strength [66] Question: Can you provide more color on procedure volume growth in March? - March showed a return to normalcy, with guidance for Q2 and Q3 assuming similar utilization rates to Q1 [71][72] Question: What is the current utilization in IDN accounts? - Utilization is driven by surgeons, with IDNs showing interest in educating staff to increase patient volume for aquablation [108][110] Question: How is the company balancing growth in OUS markets? - The company is focusing on the UK as a key market while ensuring disciplined growth strategies [86][87] Question: What are the implications of the recent LCD changes? - The removal of certain limitations will streamline patient pre-workup and expand access to aquablation therapy [126][128]