PROCEPT BioRobotics Corp. (PRCT)

PROCEPT BioRobotics reported strong financial results, with Q2 2025 revenue growing 48% year-over-year to $79.2 million and Q3 2025 revenue increasing 43% year-over-year to $83.3 million. U.S. handpiece and consumable revenue showed significant growth, increasing by 58% in Q2 2025 and 50% in Q3 2025. The company increased its 2025 revenue guidance in August 2025 and issued 2026 revenue guidance in November 2025, projecting $410 million to $430 million. The WATER IV trial procedures for prostate cancer with Aquablation therapy were completed in July 2025, and the FDA cleared the HYDROS Robotic System in August 2025. Analyst ratings have been generally positive, with a consensus of 'Moderate Buy' as of January 2026. However, the stock price declined by 60.77% between January 8, 2025, and January 7, 2026, closing at $33.92 on January 7, 2026.

Specific information on demand seasonality is not explicitly provided, but the company's business model suggests potentially stable demand once systems are installed due to recurring revenue from disposable handpieces. The company aims to mitigate seasonal fluctuations by expanding its installed base and increasing utilization of Aquablation therapy.

PROCEPT BioRobotics Corporation is a commercial-stage surgical robotics company focused on advancing urological patient care. They develop, manufacture, and sell image-guided, surgical robotic systems, primarily for treating benign prostatic hyperplasia (BPH). Their main products are the AquaBeam and HYDROS Robotic Systems, which use Aquablation therapy, a heat-free, robotic-assisted waterjet ablation solution. The HYDROS Robotic System is AI-powered, featuring FirstAssist AI™ treatment planning. The company's business model relies on recurring sales of disposable handpieces.

PROCEPT BioRobotics Corporation generates most of its revenue from the United States, but also operates internationally. The company's global headquarters are in San Jose, California, having moved from Redwood City, California, in September 2023. As of September 30, 2025, there were 653 robotic systems installed in the U.S.

PROCEPT BioRobotics' brand reputation has been enhanced by the FDA clearance of the HYDROS Robotic System and positive results from the WATER III trial. The assignment of a Category I CPT code for Aquablation therapy in July 2025, effective January 2026, signals broad clinical acceptance and is expected to increase Medicare reimbursement rates. Despite mentions of a management transition and temporary disruptions, consistent improvements in financial performance and strong market demand indicate a robust and growing brand reputation.

PROCEPT BioRobotics Corporation's ownership is heavily weighted towards institutional investors, owning approximately 70.13% to 85.35% of the stock. Major institutional owners include Fmr Llc, Vanguard Group Inc, BlackRock, Inc., Alliancebernstein L.p., T. Rowe Price Investment Management, Inc., and Westfield Capital Management Co Lp. CPMG Inc. is the largest individual shareholder, owning 10.92 million shares, representing 19.54% of the company. Insiders own approximately 3.04% of the stock.