NASDAQ$PRCT
PROCEPT BioRobotics Corporation · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
PROCEPT BioRobotics reported strong second-quarter results with significant revenue growth and increased revenue guidance for 2023.
PROCEPT BioRobotics reported a strong second quarter with total revenue of $33.1 million, a 98% increase compared to the prior year period. U.S. revenue grew by 102% to $29.9 million, driven by system sales and increased handpiece revenue. The company increased its full-year 2023 revenue guidance to $131 million and achieved a gross margin of 56%.
- Total revenue for Q2 2023 reached $33.1 million, a 98% increase year-over-year.
- U.S. system and rental revenue was $14.8 million, up 74% compared to the same period in 2022.
- U.S. handpiece and consumables revenue increased by 138% to $13.6 million.
- Fiscal year 2023 total revenue guidance was increased to $131.0 million.
Headline financials
Revenue & EPS history
PROCEPT BioRobotics · Revenue · Quarterly
$33.1M
Revenue by segment
PROCEPT BioRobotics · $31.3M total across 4 segments · Q2 2023
- U.S. System Sales$14.8M+74.1%47.4%
- U.S. Consumables$13.6M+137.7%43.5%
- Intl. System Sales$1.6M+84.0%5.1%
- Intl. Consumables$1.27M+52.5%4.1%
Forward guidance
The Company projects revenue for the full year 2023 to be approximately $131 million, which represents 75% growth over the Company’s prior year revenue. The Company projects full year 2023 gross margin to be approximately 55%. The Company projects full year 2023 total operating expense of approximately $174 million. The Company projects full year 2023 Adjusted EBITDA loss to be ($74.5) million.
Tailwinds
- Revenue for full year 2023 is projected to be approximately $131 million, representing 75% growth over the prior year.
- Full year 2023 gross margin is projected to be approximately 55%.
- Company is experiencing strong growth.
- Company is focused on advancing patient care.
- Company is focused on developing transformative solutions in urology.
Headwinds
- Full year 2023 total operating expenses are projected to be approximately $174 million.
- Full year 2023 Adjusted EBITDA loss is projected to be ($74.5) million.
- Net loss was $25.3 million for the second quarter of 2023, compared to a loss of $19.2 million in the prior year period.
- Operating expenses in the second quarter of 2023 were $44.1 million, compared with $26.4 million in the prior year period.
- Adjusted EBITDA was a loss of $19.9 million for the second quarter of 2023, compared to a loss of $14.6 million in the prior year period.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+1.3%
Avg return
Earnings day
-0.2%
Avg return
5 days after
+0.6%
Avg return
30 days after
45%
10 / 22 earnings
Positive
+40.6%
Q3 2024
Best reaction
-15.2%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +10.7% | +16.0% | +21.3% | |
| Q4 2025 | -15.2% | -5.7% | -5.3% | |
| Q3 2025 | +1.6% | -7.5% | +2.7% | |
| Q1 2025 | -5.6% | +1.1% | +3.0% | |
| Q4 2024 | +8.6% | -3.4% | -4.2% | |
| Q3 2024 | +40.6% | +34.2% | +41.5% | |
| Q2 2024 | -9.4% | -4.3% | +24.8% | |
| Q1 2024 | +16.5% | +15.9% | +25.3% | |
| Q4 2023 | +1.1% | +0.5% | +1.2% | |
| Q3 2023 | +21.7% | +22.5% | +39.5% | |
| Q2 2023 | -6.7% | -10.3% | -18.4% | |
| Q1 2023 | -15.0% | -20.1% | -10.9% | |
| Q4 2022 | +1.2% | -4.3% | -28.7% | |
| Q3 2022 | -9.9% | -8.4% | +5.8% | |
| Q2 2022 | +4.3% | +4.3% | +0.2% | |
| Q1 2022 | -5.1% | -17.9% | +19.5% | |
| Q4 2021 | +1.2% | +5.9% | +38.7% | |
| Q3 2020 | -2.2% | -4.5% | -28.0% | |
| Q4 2020 | -2.2% | -4.5% | -28.0% | |
| Q2 2021 | -2.2% | -4.5% | -28.0% | |
| Q1 2021 | -2.2% | -4.5% | -28.0% | |
| Q3 2021 | -4.4% | -3.9% | -29.6% | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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