PROCEPT BioRobotics Announces Preliminary Fourth Quarter Revenue of $43.3 million to $43.6 million

SAN JOSE, Calif., Jan. 08, 2024 (GLOBE NEWSWIRE) -- PROCEPT BioRobotics Corporation (Nasdaq: PRCT) (the “Company”), a surgical robotics company focused on advancing patient care by developing transformative solutions in urology, today reported preliminary unaudited revenue for the quarter and fiscal year ended December 31, 2023.

Preliminary, Unaudited Revenue Highlights:

• Total revenue for the fourth quarter of 2023 is expected to be in the range of $43.3 million to $43.6 million, compared to $23.8 million in the prior year period.
  • Total U.S. revenue of approximately $40.0 million to $40.3 million for the fourth quarter of 2023
  • Total U.S. Handpieces sold of approximately 6,400 resulting in monthly utilization of approximately 7.3 for the fourth quarter of 2023
  • U.S. system sales of 44 robots at an average selling price of approximately $375 thousand per system
  • Total U.S. service revenue of approximately $2.1 million for the fourth quarter of 2023
  • Total international revenue of approximately $3.3 million for the fourth quarter of 2023
• Fiscal year 2023 revenue is expected to be approximately $135.9 million to $136.2 million, representing growth of approximately 81% to 82% compared to the prior year period.
  

“We are very pleased to close out 2023 with another quarter of excellent results, driven by an acceleration in monthly utilization and strong U.S. system sales,” said Reza Zadno, Chief Executive Officer. “As we enter 2024, we are well positioned to continue to deliver outsized revenue growth driven by outstanding real-world clinical outcomes of Aquablation Therapy, the largest and most tenured capital sales team in the company’s history, and strong surgeon interest leading to rapid adoption within urology practices.”

The Company plans to report financial results for the fourth quarter and fiscal year 2023 after market close on Tuesday, February 27, 2024. The Company’s management will host a corresponding conference call beginning at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time. The preliminary results included in this press release are unaudited and remain subject to adjustment.

Investors interested in listening to the conference call may do so by following one of the below links:

• Webcast link for interested listeners:
  • https://edge.media-server.com/mmc/p/criqtmsz/
• Dial-in registration for sell-side research analysts:
  • https://register.vevent.com/register/BI7b221aac8d584cdf800e3bebd464305 ...

Live audio of the webcast will be available on the “Investors” section of the Company’s website at: https://ir.procept-biorobotics.com