PROCEPT BioRobotics Corp — Form 8-K
Filed November 4, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 42/100
What the filing says
PROCEPT reported Q3 2026 revenue of $98.3M (+18% YoY), with U.S. procedures at 13,400 (+22% YoY). The company delivered 62 HYDROS systems (20 replacements) at ~$495K ASP and handpieces at $3,570 ASP (+12% YoY). Gross margin improved to 66% from 65%. Net loss widened to $26.5M from $21.4M; Adjusted EBITDA loss was $9.8M vs. $7.4M prior year. Full-year 2026 guidance reaffirmed: revenue $390–410M (+27–33%), procedures 54,000–56,000 (+25–29%), gross margin ~65%, Adjusted EBITDA loss $30–35M. Cash position: $221.4M. WATER IV trial data expected H1 2027.
Why this rating
Q3 growth solid (18% revenue, 22% procedures) and guidance reiteration are reassuring, but worsening net losses (-24% worse YoY) and deteriorating Adjusted EBITDA (-33% worse) signal margin pressure despite higher volumes. Relative to $3.2B market cap, $98M quarterly revenue is ~12% annualized run-rate; improvement trends and cash runway ($221M) are healthy, but profitability path remains uncertain. Routine earnings delivery.
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