Procept Biorobotics Corporation · NASDAQ:PRCT

Procept Biorobotics — Investor Day (May 2024)

58 slides from Procept Biorobotics's investor day presentation, May 3, 2024

  1. Slide 1: Investor Event 2024 American Urological Association Annual Meeting

    © 2024 PROCEPT BioRobotics Corporation. All Rights Reserved. Investor Event 2024 American Urological Association Annual Meeting May 3, 2024

  2. Slide 2: Safe Harbor Statement

    2 Safe Harbor Statement This presentation and accompanying oral presentation contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including the expected financial results of PROCEPT BioRobotics Corporation (the “Company”). Words such as “an

  3. Slide 3: Agenda

    3 AGENDA 01 02 03 04 05 06 Introduction Reza Zadno, CEO Financial Review Kevin Waters, CFO Commercial Update Sham Shiblaq, Chief Commercial Officer Georgia Urology Experience Dr. Lewis Kriteman BPH + Prostate Cancer Clinical Update Dr. Brian Helfand Prostate Cancer Fireside Chat Dr. Inderbir Gill +

  4. Slide 4: New Age of Innovation & Market Expansion

    4 New Age of Innovation & Market Expansion Sustainable High Growth Highly Focused on BPH Expanding into Prostate Cancer Patient First Culture Revolutionize BPH treatment to improve patient lives Become a Leading Global Urology Company Mission Vision © 2024 PROCEPT BioRobotics Corporation. All Rights

  5. Slide 5: Expansion into Adjacent Urology Market: Current Treatment Challenges

    5 Expansion into Adjacent Urology Market Current Treatment Challenges BPH Prostate Cancer Patients forced to make tradeoff between safety & efficacy Surgeon skill can vary widely Treatment options depend on prostate size Patients forced to make tradeoff between safety & efficacy Treatment options ha

  6. Slide 6: Strong Foundation for Continued Success

    6 Strong Foundation for Continued Success Large & Underpenetrated Primary Market (BPH) Growing Brand Awareness Best in Class Net Promoter Score Superior Clinical Advantage (BPH) Strong Balance Sheet Pathway to Profitability Expansion into Adjacent Urology Market (Pca) © 2024 PROCEPT BioRobotics Corp

  7. Slide 7: Financial Review

    © 2024 PROCEPT BioRobotics Corporation. All Rights Reserved. FINANCIAL REVIEW KEVIN WATERS Chief Financial Officer

  8. Slide 8: 1Q24 Revenue Recap

    8 1Q24 Revenue Recap 3,400 3,900 4,870 6,400 6,800 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 $44.5M (+83% y/y) G l o b a l R e v e n u e $4.3M (+65% y/y) I n t e r n a t i o n a l R e v e n u e 354 (+84% y/y) U . S . I n s t a l l B a s e 6,800 (+100% y/y) U . S . H a n d p i e c e s S o l d 6.8 (+7% y/y) U . S

  9. Slide 9: Leveraging Fixed Cost Infrastructure

    9 Leveraging Fixed Cost Infrastructure New Headquarters San Jose, CA (160,000 Sq Ft) Future Drivers of Gross Margin Expansion 1 Leverage fixed cost infrastructure with revenue growth 2 Improved efficiencies leading to lower scrap and improved yield © 2024 PROCEPT BioRobotics Corporation. All Rights

  10. Slide 10: 2024 Financial Guidance

    10 2024 Financial Guidance Total Revenue ($ Mil) $34.5 Actual 2024 Guidance $75.0 $136.2 ~$213.5 (1) 2024 financial guidance issued on May 1, 2024 (2) 2023 operating expenses included approximately $19.1 million in stock-based compensation expense (3) 2024 operating expense guidance includes approxi

  11. Slide 11: Non-GAAP Reconciliations

    11 Non-GAAP Reconciliations RECONCILIATION OF GAAP NET LOSS TO ADJUSTED EBITDA (in thousands) (unaudited) RECONCILIATION OF 2024 GAAP NET LOSS TO ADJUSTED EBITDA Guidance (in thousands) (unaudited) © 2024 PROCEPT BioRobotics Corporation. All Rights Reserved.

  12. Slide 12: Commercial Strategy

    © 2024 PROCEPT BioRobotics Corporation. All Rights Reserved. COMMERCIAL STRATEGY SHAM SHIBLAQ Chief Commercial Officer

  13. Slide 13: BPH Market Remains Underpenetrated

    13 BPH Market Remains Underpenetrated 354 2,700 Procept Install Base U.S. BPH Hospitals 7.0 17.5 Procept (2024E) Avg High Volume Hospital 33,000 300,000 Procept (2024E) U.S. Surgical Market Target U.S. Hospitals Monthly Utilization BPH Procedure Volume 13% 40% 11% 1 2 2 (1) US Install Base as of 3/3

  14. Slide 14: Developing Winning Culture

    14 Developing Winning Culture Hire highly experienced and tenured sales professionals Recruit & Develop Clinical and sales excellence Commercial Execution Outstanding clinical outcomes lead to increased demand Strong Partnerships © 2024 PROCEPT BioRobotics Corporation. All Rights Reserved

  15. Slide 15: Strong Momentum to Increase Utilization

    15 Strong Momentum to Increase Utilization Commercial Goal: Convert all resective BPH hospital-based procedures to Aquablation Therapy Strong Foundation for Sustainable Growth 1 Largest & most tenured utilization team 2 >90% surgeon retention 3 Consistent & repeatable clinical outcomes 4 Standardizi

  16. Slide 16: U.S. Capital in Position of Strength

    16 U.S. Capital in Position of Strength 1Q23 ~30 Sr Capital Reps ~40 ~6 months Sr Capital Rep Avg Tenure ~15 months Zero Jr Capital Reps <10 Zero Strategic Account Team 5 Deteriorating Capital Environment Stable-to-Improving No Signed Majority IDN Contracts Yes ~70% % U.S. Covered Lives >95% 1Q24 ©

  17. Slide 17: 2024 Commercial Tailwinds

    17 2024 Commercial Tailwinds Improving Hospital CAPEX Environment Largest & Most Tenured U.S. Sales Force Strong & Growing U.S. Sales Funnel Robust Demand in United Kingdom Launching New Accounts with Multiple Surgeons 1 2 43 5 © 2024 PROCEPT BioRobotics Corporation. All Rights Reserved

  18. Slide 18: Georgia Urology Adoption

    © 2024 PROCEPT BioRobotics Corporation. All Rights Reserved. GEORGIA UROLOGY ADOPTION Dr. Lewis Kriteman Partner and Executive VP, Georgia Urology

  19. Slide 19: Disclosures

    19 Disclosures The views expressed in this presentation are those of the presenter and do not necessarily reflect the views or policies of PROCEPT BioRobotics or its subsidiaries. No official endorsement by PROCEPT BioRobotics or any of its subsidiaries of any vendor, products or services contained

  20. Slide 20: Georgia Urology Aquablation Surgeons and Volume

    20 Georgia Urology 27 Aquablation Surgeons (today) 7 AquaBeam Systems 960 Aquablation Volume (2023) © 2024 PROCEPT BioRobotics Corporation. All Rights Reserved

  21. Slide 21: Challenges of Legacy Resective Procedures

    21 Challenges of Legacy Resective Procedures Optimal results depend on surgeon skill Difficult & Steep Learning Curve Average procedure duration of medium to larger prostates can vary widely depending on patient anatomy and surgeon skill Unpredictable Operating Room Time Resective technology is unch

  22. Slide 22: Aquablation Therapy is Easy Sell to Patients, Surgeons, Hospitals

    22 Aquablation Therapy is Easy Sell to…. Patients Surgeons Hospitals • Customized treatment • Superior clinical outcomes • Sexual function preservation • Improved post-op recovery • Consistent outcomes • Standardization across all prostate sizes & shapes • Retain patients that were previously referr

  23. Slide 23: Dynamics Disrupting the Atlanta Market

    23 Dynamics Disrupting the Atlanta Market Increasing Brand Awareness Patients are actively seeking out hospitals with AquaBeam Robot Standardization Hospitals are operating more efficiently offering Aquablation Therapy to all BPH patients Local Marketing Initiatives Hospitals are now marketing direc

  24. Slide 24: Northern Georgia + Atlanta Market 2019

    24 Northern Georgia + Atlanta Market 2019 A T L A N T A M A C O N S A V A N N A H 50 miles 65 miles © 2024 PROCEPT BioRobotics Corporation. All Rights Reserved Robot at Hospital

  25. Slide 25: Northern Georgia + Atlanta Market 2019 >> 2021

    25 A T L A N T A M A C O N S A V A N N A H Northern Georgia + Atlanta Market 2019 >> 2021 50 miles 65 miles © 2024 PROCEPT BioRobotics Corporation. All Rights Reserved Robot at Hospital

  26. Slide 26: Northern Georgia + Atlanta Market 2019 >> 2021 >> Today

    26 A T L A N T A M A C O N S A V A N N A H Northern Georgia + Atlanta Market 2019 >> 2021 >> TODAY 65 miles 50 miles © 2024 PROCEPT BioRobotics Corporation. All Rights Reserved Robot at Hospital

  27. Slide 27: Aquablation Therapy is Expanding the Market

    27 Aquablation Therapy is Expanding the Market 19 180 2019 2023 Aquablation Therapy cases have increased 9.5x since 2019 Averaging 15 monthly procedures in 2023 Total BPH procedures has grown significantly since 2019. • Resective procedures are biggest growth driver • Non-Resective procedures have d

  28. Slide 28: Summary

    28 Summary Hosted Aquablation therapy education events with >1,000 surgeon attendees Education Events Lower learning curve with Aquablation is game changer Learning Curve Resecting tissue provides surgeons with more predictable outcomes Predictable Outcomes © 2024 PROCEPT BioRobotics Corporation. Al

  29. Slide 29: BPH + Prostate Cancer Clinical Update

    © 2024 PROCEPT BioRobotics Corporation. All Rights Reserved. BPH + PROSTATE CANCER CLINICAL UPDATE Dr. Brian Helfand Division of Urology, Northshore University Health System

  30. Slide 30: Disclosures

    30 Disclosures The views expressed in this presentation are those of the presenter and do not necessarily reflect the views or policies of PROCEPT BioRobotics or its subsidiaries. No official endorsement by PROCEPT BioRobotics or any of its subsidiaries of any vendor, products or services contained

  31. Slide 31: Northshore Highland Hospital AquaBeam Users

    31 Northshore Highland Hospital 8 AquaBeam Users 390 Aquablation Volume Pioneers of Same Day Discharge 2 Robots at Single Site © 2024 PROCEPT BioRobotics Corporation. All Rights Reserved

  32. Slide 32: Before & After Aquablation Therapy

    32 Before & After Aquablation Therapy BEFORE AFTER Primarily focused on oncology Refer out most BPH patients Standardized BPH treatment algorithm 130 annual Aquablation Procedures Acquired 2nd AquaBeam in 3Q23 © 2024 PROCEPT BioRobotics Corporation. All Rights Reserved

  33. Slide 33: Hemostasis Evolution

    33 HEMOSTASIS EVOLUTION 2014-2019 (<2,000 patients) 2020 & Beyond (>50,000 patients) Introduction of Focal Bladder Neck Cautery FIM, WATER, WATER II, OPEN WATER, & early commercialization Various hemostasis protocols investigated1 Electrocautery proved most effective and is now the standard 10 Years

  34. Slide 34: Day Case Aquablation Gaining Adoption

    34 DAY CASE AQUABLATION GAINING ADOPTION 37 of 40 (93%) Patients Discharged Same Day Prostates <150mL Success with same day surgery. Post-op day 3 void without catheter Organically developed during COVID due to lack of bed space New data being presented at AUA 2024 Numerous surgeons in US, UK, and C

  35. Slide 35: Aquablation Therapy for Prostate Cancer is a Natural Technology Evolution

    35 Aquablation Therapy for Prostate Cancer is a Natural Technology Evolution ~1/3 of Men with Prostate Cancer have BPH1 Prostate cancer & BPH effect similar populations Waterjet resection can be planned up to prostate capsule Aquablation resects tissue as opposed to in-situ ablation BPH: 900,000 Dx/

  36. Slide 36: Prostate Cancer Treatment Patient (PRCT002)

    36 62yo Latino-American • Family history of PCa • Family history of BPH Prostate Cancer Treatment Patient (PRCT002) PSA (ng/ml) Stage MRI Positive Cores Pathology Diagnostic Bx 3/22 OSH 5.8 T1c Not done 3/12 Rt Apex GG2 Confirmatory Bx 7/22 7.6 T1c PIRADS 5 1.1cc Rt Apex 3/15 Rt Apex GG2 Target only

  37. Slide 37: Prostate Size Perspective

    37 62yo Latino-American • Family history of PCa • Family history of BPH • Prostate Volume: 96mL • AUA-SI: 22, QoL: 5 • Qmax: 10mL/sec 1. Olsson et al Ar J Urol 2011 50mL is average prostate size for prostatectomy in New York City1 This specific 96mL prostate is very large for prostate cancer case Pr

  38. Slide 38: Surgical Pre-Planning Final Diagnosis

    38 Surgical Pre-Planning Final Diagnosis GG2 GG2 Sagittal View 3D MRI Transverse View Systematic biopsy Right apex (GG2) Targeted biopsy Right apex lesion (GG2) Left apex lesion (benign) Prostate Apex © 2024 PROCEPT BioRobotics Corporation. All Rights Reserved CAUTION Investigational device. Limited

  39. Slide 39: Surgical Pre-Planning Treatment Plans

    39 Surgical Pre-Planning Treatment Plans + + = Waterjet Pass 1 Waterjet Pass 2 Waterjet Pass 3 Cumulative Pass 225° high angle cut 195° wide angle cut Targeted cut Optimized to Access Peripheral Zone © 2024 PROCEPT BioRobotics Corporation. All Rights Reserved CAUTION Investigational device. Limited

  40. Slide 40: Actual Treatment: Pass #1

    40 Actual Treatment: Pass #1 Transverse View Sagittal View 225° high angle cut © 2024 PROCEPT BioRobotics Corporation. All Rights Reserved CAUTION Investigational device. Limited by United States law to investigational use." However, since that may make it sound like the device is completely investi

  41. Slide 41: Actual Treatment: Pass #2

    41 Actual Treatment: Pass #2 Transverse View Sagittal View 195° wide angle cut © 2024 PROCEPT BioRobotics Corporation. All Rights Reserved CAUTION Investigational device. Limited by United States law to investigational use." However, since that may make it sound like the device is completely investi

  42. Slide 42: Actual Treatment: Pass #3

    42 Actual Treatment: Pass #3 Transverse View Sagittal View Targeted cut © 2024 PROCEPT BioRobotics Corporation. All Rights Reserved CAUTION Investigational device. Limited by United States law to investigational use." However, since that may make it sound like the device is completely investigationa

  43. Slide 43: Initial Aquablation Impressions for Prostate Cancer

    43 Initial Aquablation Impressions for Prostate Cancer Real Time Imaging Surgical planning with ultrasound and 3D MRI reconstruction Surgeon Confidence Waterjet resection provides confidence to carry out comprehensive treatment plan Post-op Recovery Postop recovery similar to BPH treatment experienc

  44. Slide 44: Active Surveillance & Focal Therapy Both Aim to Delay or Avoid Radical Treatment

    44 Active Surveillance & Focal Therapy Both Aim to Delay or Avoid Radical Treatment and Its Respective Morbidities Strategy Cost to Patient Failure Rate Active Surveillance (watch) No immediate action. Regular testing & radical treatment if progression occurs No treatment morbidity 50%-60% radical t

  45. Slide 45: Radical Therapy Leads to Substantial Morbidity

    45 Radical Therapy Leads to Substantial Morbidity Strategy Cost to Patient Failure Rate Active Surveillance (watch) No immediate action. Regular testing & radical treatment if progression occurs No treatment morbidity 50%-60% radical treatment within 10-15 years1 Focal Therapy (disrupt) Disrupt natu

  46. Slide 46: Prostate Cancer Overview

    © 2024 PROCEPT BioRobotics Corporation. All Rights Reserved. PROSTATE CANCER OVERVIEW Barry Templin EVP, Technology & Clinical Development

  47. Slide 47: Prostate Cancer in U.S.

    47 Prostate Cancer in U.S. 3.3 Million Men in the U.S. living with prostate cancer today1 Prostate cancer is a serious disease, but most men diagnosed do not die from it2 Low Mortality Common treatment recommendation given low disease lethality and high risk of treatment morbidity Active Surveillanc

  48. Slide 48: U.S. Prostate Cancer Market

    48 U.S. Prostate Cancer Market 300,000 New Cases of Prostate Cancer Annually Low Risk Intermediate Risk High Risk 210,000 90,000 54,600 105,000 50,400 Localized Diagnoses by Risk2 Localized Non-Localized Annual Incidence1 1. American Cancer Society 2024; 2. Rasul et al CUAJ 2020 © 2024 PROCEPT BioRo

  49. Slide 49: Localized Prostate Cancer Treatment Landscape

    49 Localized Prostate Cancer Treatment Landscape Prognosis Spectrum LOW RISK HIGH RISKINTERMEDIATE NCCN / AUA Guidelines Aquablation Target Active Surveillance Radiation + Surgery Contemporary Practice Active Surveillance Focal Therapies Radiation + Surgery Grade Group GG1 GG2 - GG3 GG4 - GG5 © 2024

  50. Slide 50: Initial Prostate Cancer Research PRCT001

    50 Initial Prostate Cancer Research PRCT001 Objective Evaluate safety & efficacy of Aquablation therapy for patients with BPH & localized prostate cancer. Step 1 Step 2 Feasibility performed in 5 patients Key Inclusion IPSS ≥ 8 Grade Group 1-3 PIRADS 3-4 PSA < 20 ng/ml Single Arm on-label study of B

  51. Slide 51: Cancer Progression

    51 Cancer Progression MRI Visibility is cause for concern1,2,3 MRI progression is a cause for biopsy1,2,3 Grade group progression is usually a trigger for radical treatment4 1. Stavrinides et al 2019; 2. Omil-Lima et al 2022; 3.Osses et al 2020; 4. Weinstock et al 2020 Active Surveillance (6-13m Bx)

  52. Slide 52: Aquablation Cancer Progression Data

    52 Aquablation Cancer Progression Data MRI Visibility is cause for concern1,2,3 MRI progression is a cause for biopsy1,2,3 Grade group progression is usually a trigger for radical treatment4 1. Stavrinides et al 2019; 2. Omil-Lima et al 2022; 3.Osses et al 2020; 4. Weinstock et al 2020 5. Data on fi

  53. Slide 53: FDA Prostate Cancer Research PRCT002

    53 FDA Prostate Cancer Research PRCT002 Objective Evaluate safety & efficacy of Aquablation therapy for localized prostate cancer. Single-arm FDA IDE Study • Localized prostate cancer • Grade Group 1-2 20 patients PRCT002 Design 5 US Sites © 2024 PROCEPT BioRobotics Corporation. All Rights Reserved

  54. Slide 54: Treatment Strategy Categories

    54 Treatment Strategy Categories Strategy Cost to Patient Failure Rate Active Surveillance (watch) No immediate action. Regular testing & radical treatment if progression occurs No morbidity from active treatment 50%-60% radical treatment within 10-15 years1 Focal Therapy (disrupt) Disrupt natural c

  55. Slide 55: PCa Summary for Aquablation Therapy

    55 PCa Summary for Aquablation Therapy Enrolling Patients in Two Trials 3 ~3 Million Patients 2 Near Whole Gland Treatment 1 Stop or delay progression of cancer in low & intermediate risk patients Reduce rates of unnecessary morbidity to low & intermediate risk patients Offer safe & effective treatm

  56. Slide 56: Prostate Cancer Fireside Chat

    © 2024 PROCEPT BioRobotics Corporation. All Rights Reserved. PROSTATE CANCER FIRESIDE CHAT Dr. Inderbir Gill Founding Executive Director for USC Urology. Chairman of Urological Cancer Surgery at Keck School of Medicine of USC

  57. Slide 57: Disclosures

    57 Disclosures The views expressed in this presentation are those of the presenter and do not necessarily reflect the views or policies of PROCEPT BioRobotics or its subsidiaries. No official endorsement by PROCEPT BioRobotics or any of its subsidiaries of any vendor, products or services contained

  58. Slide 58: Treatment Strategy Categories

    58 Treatment Strategy Categories Strategy Cost to Patient Failure Rate Active Surveillance (watch) No immediate action. Regular testing & radical treatment if progression occurs No morbidity from active treatment 50%-60% radical treatment within 10-15 years1 Focal Therapy (disrupt) Disrupt natural c

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