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PROCEPT BioRobotics® Reports Second Quarter 2023 Financial Results and Increases 2023 Revenue Guidance
REDWOOD CITY, Calif., July 27, 2023 (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":"REDWOOD CITY, Calif., July 27, 2023 (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 unaudited financial results for the quarter ended June 30, 2023. Recent Highlights Total revenue of $33.1 million for the second quarter of 2023, an increase of 98% compared to the same period in 2022Sold a record 40 U.S. robotic systems in the second quarter of 2023U.S. system and rental revenue of $14.8 million for the second quarter of 2023, an increase of 74% compared to the same period in 2022U.S. handpiece and consumables revenue of $13.6 million for the second quarter of 2023, an increase of 138% compared to the same period in 2022Increased fiscal year 2023 total revenue guidance to $131.0 millionReceived positive coverage policy decision from United Healthcare, effective June 1, 2023Initiated patient enrollment in Japanese post market survey in mid-July “Our record performance in the second quarter reflects strong execution across all our growth drivers. Procedure numbers saw impressive growth in the quarter, largely attributed to increased utilization rates among our existing accounts on a sequential basis. As we move into the second half of 2023, our pipeline of opportunities continues to grow meaningfully, which gives us increased confidence to meet our growth objectives,” said Reza Zadno, Chief Executive Officer. “We believe the combination of compelling long-term clinical data, increased private payor coverage, outstanding real-world patient outcomes and an expanded field based commercial team continue to drive surgeon interest, patient demand and adoption of Aquablation® therapy.\" Second Quarter 2023 Financial Results Total revenue for the second quarter of 2023 was $33.1 million, an increase of 98% compared to the prior year period. U.S. revenue was $29.9 million, representing growth of 102% compared to the prior year period. The increase was primarily driven by system sales to new hospital customers and increased handpiece revenue. U.S. handpiece and consumable revenue for the second quarter of 2023 was $13.6 million, an increase of 138% compared to the prior year period. Second quarter of 2023 monthly utilization per account increased 9% compared to the prior year per...