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Dec 31, 2022
PROCEPT BioRobotics Q4 2022 Earnings Report
PROCEPT BioRobotics experienced substantial revenue growth, driven by strong U.S. sales and increased adoption of Aquablation therapy.
Key Takeaways
PROCEPT BioRobotics reported a strong fourth quarter with a 135% increase in revenue compared to the prior year period. The company's U.S. system and consumable sales drove growth, and the installed base of AquaBeam Robotic Systems in the U.S. reached 167. The company issued 2023 total revenue guidance of approximately $125 million.
Total revenue for Q4 2022 was $23.8 million, a 135% increase year-over-year.
U.S. system and rental revenue increased by 109% to $10.4 million in Q4 2022.
U.S. handpiece and consumables revenue grew by 202% to $10.4 million in Q4 2022.
The company projects revenue for the full year 2023 to be approximately $125 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company projects revenue for the full year 2023 to be approximately $125 million and full year 2023 gross margin to be approximately 53%.
Positive Outlook
- Revenue for the full year 2023 is projected to be approximately $125 million, representing 67% growth over the prior year.
- Full year 2023 gross margin is projected to be approximately 53%.
Challenges Ahead
- Full year 2023 total operating expense is projected to be approximately $163 million.
- Full year 2023 Adjusted EBITDA loss is projected to be approximately $70.5 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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