PROCEPT BioRobotics Corporation reported significant financial growth in its latest quarterly results, with revenue reaching $69.2 million for the three months ended March 31, 2025, a 55% increase from $44.5 million in the same period last year. The company’s gross profit also saw a substantial rise, climbing to $44.2 million, resulting in a gross margin of 64%, up from 56% in the prior year. Despite this revenue growth, PROCEPT recorded a net loss of $24.7 million, slightly improved from a net loss of $25.9 million in the previous year.
The increase in revenue was primarily driven by higher sales volumes of system sales, handpieces, and service contracts, particularly in the United States, which accounted for $60.3 million of total revenue. The company reported a notable increase in sales of handpieces and consumables, which rose by 64% year-over-year. Operating expenses also increased, with research and development costs rising by 25% to $16.4 million and selling, general, and administrative expenses increasing by 39% to $55.2 million, reflecting the company's investment in expanding its commercial infrastructure.
In terms of operational developments, PROCEPT BioRobotics has made strides in expanding its install base, with a total of 703 AquaBeam and HYDROS robotic systems installed globally as of March 31, 2025, including 547 in the United States. The company is focused on increasing system utilization by targeting hospitals that perform resective procedures for benign prostatic hyperplasia (BPH). The company’s pivotal WATER study has demonstrated the efficacy of its Aquablation therapy, which has been recognized in clinical guidelines by various professional associations.
Looking ahead, PROCEPT BioRobotics aims to leverage its growing body of clinical evidence and strong relationships with key opinion leaders in the urology community to drive further adoption of its technologies. The company anticipates that its revenue will continue to grow as it expands its sales force and enhances its marketing efforts. As of March 31, 2025, PROCEPT had cash and cash equivalents of $316.2 million, which the company believes will be sufficient to meet its capital requirements for at least the next twelve months, despite ongoing investments in research and development and commercialization activities.
About PROCEPT BioRobotics Corp
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