Business
PROCEPT BioRobotics® Reports Fourth Quarter and Full Year 2024 Results
SAN JOSE, Calif., Feb. 25, 2025 (GLOBE NEWSWIRE) -- PROCEPT BioRobotics Corporation (Nasdaq: PRCT) (the “Company”), a surgical robotics company focused on
About this update from Procept Biorobotics Corporation
[{"type":"text","content":"SAN JOSE, Calif., Feb. 25, 2025 (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 financial results for the fourth quarter and year ended December 31, 2024. Recent Highlights Total revenue of approximately $68.2 million for the fourth quarter of 2024, an increase of 57% compared to the prior year periodU.S. system revenue of $27.6 million for the fourth quarter of 2024, an increase of 67% compared to the prior year periodSold 60 new robotic systems in the U.S. in the fourth quarter of 2024 at a blended average selling price of approximately $460,000U.S. handpiece and consumables revenue of $29.3 million for the fourth quarter of 2024, an increase of 36% compared to the prior year periodTotal revenue of $224.5 million for full year 2024, an increase of 65% compared to 2023Issued 2025 total revenue guidance of approximately $320 million, which would represent an increase of 42% compared to actual full year 2024 revenue “In pursuit of our long-term vision to transform the global treatment of BPH and ultimately build a global urology company, 2024 was a productive year for PROCEPT in two key areas,\" said Reza Zadno, Chief Executive Officer. “First, in August, we received FDA 510(k) clearance of our next-generation platform – the HYDROS™ Robotic System. This was a pivotal moment for the Company as HYDROS represents the first significant technological advancement compared to the AquaBeam® system. Second, we received FDA-IDE approval to initiate WATER IV PCa, a pivotal randomized clinical study for prostate cancer. As we enter 2025, we believe there are several positive factors that will enable us to continue to pursue our long-term growth strategy while continuing a disciplined approach on our path to profitability.” Fourth Quarter 2024 Financial Results Total revenue for the fourth quarter of 2024 was $68.2 million, an increase of 57% compared to the prior year period. The increase was primarily driven by increased system and handpiece sales, higher system average selling prices, and increased international revenue. U.S. system revenue was $27.6 million, an increase of 67% compared to the prior year period. As of December 31, 2024, the install base of AquaBeam and Hydros Ro...