PROCEPT BioRobotics (PRCT) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $94.5 million, up 19% year-over-year, with over 13,100 U.S. procedures completed, a 21% increase, though below expectations due to softness in legacy AquaBeam accounts.

• HYDROS system adoption accelerated, with record placements and higher procedure volumes per account compared to legacy systems.

• Commercial reorganization and launch team model scaled, supporting faster ramp-up and higher early utilization for new accounts.

• Direct-to-patient pilots launched in 18 U.S. markets, showing strong digital engagement and increased patient inquiries.

• Clinical and regulatory milestones achieved, including strengthened AUA guidelines for Aquablation and completion of WATER IV trial enrollment.

Financial highlights

• Q2 2026 revenue: $94.5 million, up 19% year-over-year; U.S. revenue: $83.4 million, up 20%; international revenue: $11.1 million, up 15%.

• Gross margin improved to 66% from 65% last year, aided by a $2.9 million tariff recovery.

• Net loss widened to $26.9 million from $19.6 million; adjusted EBITDA loss was $11.3 million versus $8 million last year.

• Cash and equivalents totaled $231 million as of June 30, 2026.

• Operating expenses rose to $89.8 million from $73.9 million, reflecting investments in commercial and R&D activities.

Outlook and guidance

• Full-year 2026 revenue expected at $390–$410 million, representing 27%–33% growth.

• U.S. procedures forecasted at 54,000–56,000, up 25%–29% year-over-year.

• International revenue guidance at $50–$51 million.

• Gross margin expected to be 65% for the year; operating expenses guided at $355–$360 million.

• Adjusted EBITDA loss expected at $35–$30 million, with positive adjusted EBITDA anticipated in Q4.