PROCEPT BioRobotics (PRCT) investor relations material

Q1 performance and financial guidance

• Q1 revenue exceeded expectations by 3%, with strong system placements and highest-ever ASP above $83,000 per system.

• Inventory reset concerns were addressed, with 95% procedure-to-system ratio achieved, supporting full-year one-to-one target.

• Procedure volume was slightly below target at 12,200, but annual guidance of 60,000–64,000 cases and $390–$410 million revenue was maintained.

• Margin improvement was realized, with Q1 gross margin at 65%, already meeting full-year guidance.

• ASP is expected to remain in the $450,000–$460,000 range for the year, with potential upside.

Commercial realignment and growth strategy

• Commercial team realignment and dedicated launch teams were implemented to drive procedure growth and efficiency.

• New structure assigns both clinical and sales functions to a common regional leader, improving accountability and resource allocation.

• Every account now has a tailored growth plan, focusing on increasing utilization and expanding high-volume surgeon adoption.

• Launch team model reduced time from purchase order to first 10 cases by 50% in pilot, with plans to scale to all new systems by year-end.

• Emphasis on patient-centric growth, aiming to increase awareness and adoption of Aquablation as standard of care.

Market dynamics and competitive landscape

• PAE is not seen as a significant headwind; focus remains on converting TURP procedures and educating patients on Aquablation benefits.

• Direct-to-patient education initiatives are underway to build awareness, with targeted regional pilots and new marketing leadership.

• Patient priorities include symptom relief, one-and-done procedures, and preservation of urinary and sexual function.