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Mar 31, 2022
PROCEPT BioRobotics Q1 2022 Earnings Report
PROCEPT BioRobotics experienced significant revenue growth driven by US sales and expanded its install base.
Key Takeaways
PROCEPT BioRobotics reported a strong first quarter in 2022, with total revenue increasing by 97% compared to the prior year period. The growth was primarily driven by U.S. revenues, including system sales and handpiece revenue. The company also increased its full year 2022 total revenue guidance range to $58.0 million to $62.0 million.
Total revenue for Q1 2022 was $14.2 million, a 97% increase compared to Q1 2021.
U.S. system and rental revenue reached $7.8 million, a 70% increase year-over-year.
U.S. handpiece and consumables revenue was $4.4 million, a 174% increase year-over-year.
Fiscal year 2022 total revenue guidance was increased to a range of $58.0 million to $62.0 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company projects revenue for the full year 2022 to range from $58 million to $62 million, which represents 68% to 80% growth over the company’s prior year revenue. The Company reiterates full year 2022 Adjusted EBITDA loss to be in the range of ($63) million to ($60) million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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