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PROCEPT BioRobotics® Reports Second Quarter 2024 Financial Results and Increases 2024 Revenue and EBITDA Guidance
SAN JOSE, Calif., Aug. 01, 2024 (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., Aug. 01, 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 unaudited financial results for the quarter ended June 30, 2024. Recent Highlights Total revenue of $53.4 million for the second quarter of 2024, an increase of 61% compared to the prior period in 2023U.S. handpiece and consumables revenue of $27.3 million for the second quarter of 2024, an increase of 101% compared to the prior period in 2023Sold 47 robotic systems in the U.S. in the second quarter of 2024U.S. system and rental revenue of $17.8 million for the second quarter of 2024, an increase of 20% compared to the prior period in 2023International revenue of $5.7 million, for the second quarter of 2024, an increase of 79% compared to the prior period in 2023Increased fiscal year 2024 total revenue guidance to approximately $217 million and improved EBITDA guidance to a loss of $67.5 million “We are pleased to report another successful quarter with annual revenue growth of 61%. This outstanding performance across all segments of the business reflects continued focus on penetrating BPH hospitals, increasing utilization, and driving operational efficiencies across the organization,” said Reza Zadno, Chief Executive Officer. “Additionally, we achieved record gross margins of 59% and demonstrated significant operating expense leverage.” Second Quarter 2024 Financial Results Total revenue for the second quarter of 2024 was $53.4 million, an increase of 61% compared to the prior year period. U.S. revenue was $47.7 million, representing growth of 59% compared to the prior year period. The increase was primarily driven by increased system sales to new hospital customers and increased handpiece and consumable revenue. U.S. handpiece and consumable revenue for the second quarter of 2024 was $27.3 million, an increase of 101% compared to the prior year period. U.S. monthly utilization per account increased approximately 15% in the second quarter of 2024 compared to the prior year period. U.S. system revenue for the second quarter of 2024 was $17.8 million, an increase of 20% compared to the prior year period. As of June 30, 2024, the install base of AquaBeam Robotic Systems in the U.S. was 400 sy...