PROCEPT BioRobotics (PRCT) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $94.5 million, up 19% year-over-year, with 13,100+ U.S. procedures, a 21% increase, though legacy AquaBeam accounts underperformed.

• HYDROS system adoption accelerated, with 65 placements (50 greenfield, 14 replacements, 1 lease), and higher procedure volumes per account compared to legacy systems.

• Commercial reorganization and launch team model are largely complete, enabling sales reps to focus on therapy adoption and utilization.

• Direct-to-patient pilots launched in 18 U.S. markets, showing strong digital engagement and increased patient inquiries.

• Clinical and regulatory milestones include strengthened AUA guidelines for Aquablation and completion of WATER IV trial enrollment.

Financial highlights

• U.S. revenue was $83.4 million, up 20% year-over-year; international revenue was $11.1 million, up 15%.

• U.S. system revenue grew 32% to $29.1 million; handpiece and consumable revenue rose 12% to $48.4 million.

• Gross margin improved to 66% (from 65%), aided by a $2.9 million tariff recovery.

• Net loss widened to $26.9 million from $19.6 million; adjusted EBITDA loss was $11.3 million versus $8 million prior year.

• Cash and equivalents stood at $231 million as of June 30, 2026.

Outlook and guidance

• Full-year 2026 revenue expected at $390–$410 million (27–33% growth); international revenue $50–$51 million.

• U.S. procedures forecast at 54,000–56,000 (25–29% growth); new system ASP expected at $480,000–$490,000 in H2.

• About 40 replacement sales anticipated at $300,000–$325,000 ASP.

• Full-year gross margin guided at 65%; operating expenses $355–$360 million.

• Adjusted EBITDA loss expected at $35–$30 million, with positive adjusted EBITDA in Q4 2026.