PROCEPT BioRobotics Corp. reported first‑quarter 2026 revenue of $83.1 million, a 20% year‑over‑year increase driven by $43.0 million in handpiece and consumable sales and $23.4 million in system sales. The company’s U.S. revenue rose to $72.0 million while international revenue grew to $11.1 million, underscoring a strong domestic market presence.
Gross margin expanded to 65%, up from 64% in Q1 2025, reflecting a favorable mix of higher‑margin handpiece and consumable sales and improved pricing power. Net loss widened to $31.6 million, and adjusted EBITDA loss increased to $18.1 million, largely due to a $15.0 million rise in operating expenses—$86.6 million in Q1 2026 versus $71.6 million in Q1 2025—as the company continues to invest in commercial expansion and the ongoing WATER IV prostate cancer trial.
The company completed 12,200 U.S. procedures in the quarter, with handpiece utilization at 95%, indicating robust adoption of its Aquablation technology. FDA clearance of the FirstAssist AI software was also announced, adding a new revenue stream to the HYDROS robotic platform and positioning PROCEPT for future growth in AI‑enabled surgical solutions.
Earnings per share were reported at –$0.56, matching the analyst estimate of –$0.56 and providing a clear benchmark for future performance. Management highlighted the impact of its commercial realignment: CEO Larry Wood said, “Over the past six months, we have taken decisive actions to reset the organization by sharpening our focus on operational excellence, accountability, and commercial discipline, and our first‑quarter results reflect the early impact of that work.” CFO Kevin Waters added, “Our confidence in executing within our guidance range has increased with Q1 performance. We maintain current expectations as we emerge from the commercial realignment, and we feel good about the full year across all metrics.”
Full‑year 2026 guidance remains unchanged, with revenue projected at $390 million to $410 million and an adjusted EBITDA loss of $30 million to $17 million. The guidance reflects management’s confidence that the company’s operational discipline and growing procedure volume will translate into sustained revenue growth and margin improvement over the year.
The results demonstrate that PROCEPT is successfully scaling its core business while investing heavily in growth initiatives. Revenue growth, margin expansion, and a strong procedure pipeline signal a positive trajectory, even as the company continues to absorb the costs of commercial expansion and clinical trials. The company’s ability to maintain a 65% gross margin and a 95% handpiece utilization rate indicates operational efficiency and market acceptance of its technology. The FDA clearance of FirstAssist AI further strengthens the company’s competitive position and provides a foundation for future revenue diversification.
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