PROCEPT BioRobotics Corporation (PRCT) reported first-quarter 2026 financial results, showing strong revenue growth supported by higher U.S. system sales, increased procedure volumes, and improved pricing across its Aquablation platform.
Aquablation is PROCEPT's minimally invasive robotic waterjet therapy used to treat benign prostatic hyperplasia (BPH).
The company said the results reflect early benefits from recent operational changes aimed at improving commercial discipline and execution.
Q1 2026 Financial Performance
PROCEPT generated $83.1 million in revenue for Q1 2026, a 20% increase from $69.2 million in the same quarter last year.
-U.S. revenue: $72.0 million, up 19% from $60.3 million year-over-year
- International revenue: $11.1 million, up 25% from $8.8 million year over year
-Gross margin: 65%, compared with 64% in Q1 2025
-Operating expenses: $86.6 million, up from $71.6 million last year
-Net loss: $31.6 million, compared with a loss of $24.7 million in Q1 2025
-Adjusted EBITDA loss: $18.1 million, versus $15.8 million last year
The company ended the quarter with $249 million in cash, cash equivalents, and restricted cash.
Commercial and Procedure Highlights
Aquablation adoption continued to expand in the U.S., with approximately 12,200 procedures performed in Q1 2026- a 30% increase from the prior-year period
Additional operational metrics included:
- 49 U.S. Hydros systems sold, including 2 replacements
-U.S. average selling price: approximately $485,000 per new Hydros system
-Handpiece utilization: approximately 95% of U.S. procedures
- Handpiece ASP: approximately $3,500, up 5% from Q4 2025
-U.S. installed base: 765 systems, up 40% year over year
CEO Larry Wood said the company is seeing early benefits from its organizational reset, noting that the commercial team is "adapting quickly" and that PROCEPT expects momentum to build through the rest of 2026.
Technology & Product Updates
PROCEPT recently received FDA clearance for its second-generation First Assist AI software, which enhances personalized, image-guided planning for Aquablation therapy. The company said the upgrade strengthens the capabilities of its next generation HYDROS robotic system by improving prostate anatomy identification and treatment planning consistency.
2026 Outlook
The company reaffirmed its full-year 2026 guidance:
-Revenue is expected between $390 million to $410 million, which represents growth of 27% to 33% compared to $308.1 million prior year period.
- U.S. procedure growth: 39% to 48%
-Gross margin: approximately 65%
-Adjusted EBITDA loss: $30 million to $17 million, compared to an adjusted EBITDA loss $50.2 million prior year period.
PROCEPT also mentioned it remains focused on expanding its commercial footprint, advancing innovation across its BPH platform, and supporting its ongoing WATER IV prostate cancer trial.
PRCT has traded between $19.63 and $66.85 over the past year. The stock closed Wednesday's trading at $21.71, down 5.73%. During overnight trading the stock traded at $24.28, up 11.84%.
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Business News
April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.