PROCEPT BioRobotics Q1 Revenue Jumps 20% to $83.1M with 30% Procedure Growth
PROCEPT BioRobotics reported Q1 revenue of $83.1 million, up 20% year-over-year, driven by 49 U.S. Hydros system sales and approximately 12,200 Aquablation procedures, a 30% increase. Gross margin rose to 65%, cash balances reached $249 million and full-year revenue guidance stands at $390–$410 million (27–33% growth).
1. Strong Q1 Revenue Growth
PROCEPT BioRobotics generated $83.1 million in revenue for the quarter ended March 31, 2026, marking a 20% increase year-over-year. This performance was fueled by 49 U.S. Hydros system sales, two of which were replacements, and approximately 12,200 Aquablation procedures, reflecting a 30% rise in utilization.
2. Margin Expansion and Cash Position
Gross margin improved to 65% from 64% in the prior year period and 61% in Q4 2025, driven by favorable revenue mix and pricing adjustments. The company ended the quarter with $249 million in cash, cash equivalents and restricted cash, underpinning its commercial and R&D investments.
3. Investment Impact on Profitability
Operating expenses increased to $86.6 million from $71.6 million, reflecting expanded commercial efforts, BPH platform innovation and funding for the WATER IV prostate cancer trial. Net loss widened to $31.6 million, and adjusted EBITDA loss increased to $18.1 million for the quarter.
4. Guidance and AI-Driven Innovation
PROCEPT BioRobotics reaffirmed full-year 2026 revenue guidance of $390–$410 million (27%–33% growth), U.S. procedure growth of 39%–48%, and a 65% gross margin target. The company also received FDA clearance for its second-generation FirstAssist AI software, enhancing precision in Aquablation therapy planning.