PROCEPT BioRobotics Corp

Listed Company

PRCTCIK 0001588978NasdaqLarge AcceleratedSurgical & Medical Instruments & ApparatusDelawareFY ends Dec 31

Period

FY 2025

Revenue

$308.05M

Net Income

$-95.57M

Total Assets

$508.08M

Equity

$365.87M

Shares Out

56.92M

Op. Cash Flow

$-48.98M

Business

PROCEPT BioRobotics Corp is a surgical robotics company that develops, manufactures and sells advanced, image‑guided robotic systems for minimally invasive urologic surgery focused on treating benign prostatic hyperplasia (BPH). It offers the AquaBeam and HYDROS Robotic Systems and single‑use disposable handpieces that deliver Aquablation therapy combining real‑time imaging, personalized treatment planning, automated robotics and heat‑free waterjet ablation. Its business encompasses system and consumable sales, clinical research, training, reimbursement support and field service. The company primarily markets to hospitals, ambulatory surgery centers, leasing companies and distributors in the United States and selected international markets via direct sales and distribution partners.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	308	224	136	75	34
Cost of sales	112	87	65	38	19
Gross profit	196	137	71	37	16
Research and development	71	62	48	29	19
Selling, general and administrative	229	171	132	89	51
Total operating expenses	300	234	180	118	70
Loss from operations	−104	−97	−109	−81	−54
Interest expense	−4	−4	−4	−5	—
Interest and other income (expenses), net	12	10	7	2	121,000
Loss before income taxes	−95	−91	−106	—	—
Provision for income taxes	190,000	368,000	80,000	—	—
Net loss	−96	−91	−106	−87	−60
Net loss per share, basic (in dollars per share)	−1.72	−1.75	−2.24	−1.96	−3.63
Net loss per share, diluted (in dollars per share)	−1.72	−1.75	−2.24	−1.96	−3.63
Basic (in shares)	56	52	47	44	16
Diluted (in shares)	56	52	47	44	16
Foreign currency translation adjustment	−77,000	0	0	—	—
Unrealized gain on cash equivalents	0	30,000	90,000	48,000	−40,000
Comprehensive loss	−96	−91	−106	−87	−60

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	287	334	257	222	304
Accounts receivable, net,	84	83	48	15	4
Inventory	71	56	40	29	13
Prepaid expenses and other current assets	10	8	5	6	4
Total current assets	450	482	351	273	326
Restricted cash, non-current	3	3	3	3	777,000
Property and equipment, net	30	27	29	9	5
Operating lease right-of-use assets, net	18	19	20	23	3
Intangible assets, net	709,000	932,000	1	1	2
Other assets	6	3	919,000	51,000	0
Total assets	508	534	405	309	337
Accounts payable	17	10	13	9	2
Accrued compensation	23	22	17	13	6
Deferred revenue	13	10	6	3	1
Operating leases, current	2	2	2	2	2
Loan facility derivative liability	0	2	2	0	—
Other current liabilities	10	8	6	7	5
Total current liabilities	66	53	46	35	16
Long-term debt	52	51	51	51	50
Operating leases, non-current	25	27	26	24	2
Other non-current liabilities	147,000	324,000	517,000	0	200,000
Total liabilities	142	132	124	112	70
Commitments and contingencies (Note 12)	—	—	—	—	—
Preferred stock, $0.00001 par value; authorized shares: 10,000 at December 31, 2025 and 2024, respectively Issued and outstanding shares: none at December 31, 2025 and 2024	0	0	0	0	0
Common stock, $0.00001 par value; authorized shares: 300,000 at December 31, 2025 and 2024, respectively Issued and outstanding shares: 54,718 and 50,771 at December 31, 2025 and 2024	0	0	0	0	0
Additional paid-in capital	1,007	948	735	546	529
Accumulated other comprehensive gain	37,000	114,000	84,000	−6,000	−54,000
Accumulated deficit	−642	−546	−455	−349	−262
Total stockholders equity	366	402	281	197	267
Total liabilities and stockholders equity	508	534	405	309	337

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	6	5	4	3	3
Stock-based compensation expense	48	32	19	10	4
Change in fair value in derivative liability	0	114,000	107,000	283,000	—
Non-cash lease adjustment	−508,000	−383,000	13,000	1	−345,000
Provision for credit losses	219,000	840,000	0	—	—
Inventory write-down	565,000	2	995,000	62,000	650,000
(Gain) loss on foreign currency transactions	157,000	0	0	—	—
Accounts receivable, net	−898,000	−36	−33	−11	−3
Inventory	−14	−17	−10	−15	−6
Prepaid expenses and other current assets	−1	−3	1	−2	−3
Other assets	−3	−2	−868,000	−51,000	0
Accounts payable	7	−2	6	4	812,000
Accrued compensation	2	5	3	7	2
Accrued interest expense	142,000	134,000	125,000	757,000	1
Loan facility liability	−2	0	0	—	—
Deferred revenue	3	4	3	2	792,000
Reimbursements for leasehold improvements from operating leases	0	3	5	327,000	0
Other liabilities	2	2	−1	3	2
Net cash used in operating activities	−49	−99	−108	−80	−57
Purchases of property and equipment	−9	−4	−25	−3	−592,000
Net cash used in investing activities	−9	−4	−25	−3	−592,000
Proceeds from issuance of common stock under employee stock purchase plan	6	5	4	2	0
Proceeds from issuance of common stock from the exercise of stock options, net	5	11	2	4	4
Proceeds from issuance of common stock, net of issuance costs	0	165	162	0	0
Net cash provided by financing activities	11	180	168	4	262
Effect of exchange rates on cash, cash equivalents and restricted cash	−74,000	0	0	—	—
Net increase (decrease) in cash, cash equivalents and restricted cash	−47	77	35	−79	204
Interest paid	3	4	4	4	5
Property and equipment included in accounts payable and accrued expenses	969,000	348,000	2	4	210,000

Filings

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