Overview

• Surgical robotics firm's Q1 revenue rose 20% yr/yr, beating analyst expectations

• Q1 adjusted EBITDA loss beat analyst estimates

• Company received FDA clearance for second-generation AI software for Aquablation therapy

Outlook

• Procept Biorobotics expects 2026 revenue of $390 mln to $410 mln, up 27%-33% year-on-year

• Company maintains 2026 U.S. procedure growth outlook of 39% to 48%

• Procept Biorobotics continues to forecast 2026 gross margin of about 65%

Result Drivers

• U.S. SYSTEM SALES AND PRICING - Q1 revenue growth was driven by strong U.S. system sales and improved pricing, according to CEO Larry Wood

• PROCEDURE VOLUME - U.S. procedures rose 30% yr/yr, supporting higher handpiece and consumable sales

• INTERNATIONAL GROWTH - International revenue increased 25% yr/yr, contributing to overall revenue growth

Company press release: ID:nGNX4t81X6

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue	Beat	$83.13 mln	$80.51 mln (13 Analysts)
Q1 EPS		-$0.56
Q1 Net Income		-$31.64 mln
Q1 Adjusted EBITDA	Beat	-$18.12 mln	-$18.66 mln (9 Analysts)

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"

• Wall Street's median 12-month price target for Procept Biorobotics Corp is $30.50, about 32.4% above its April 28 closing price of $23.03

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