Procept BioRobotics Shares Are Higher Today, CEO Touts 'Strong Surgeon Interest'

Procept BioRobotics Corp PRCT shares are trading higher after the company announced fourth-quarter (Q4) FY23 preliminary results yesterday. 

The company expects Q4 revenues of $43.3 million-$43.6 million (vs. consensus of $41.48 million).

In particular, PRCT anticipates U.S. revenue of $40 million-$40.3 million, with approximately 6,400 handpieces sold, leading to a monthly utilization of about 7.3.

The San Jose, California-based firm sees U.S. service revenue of about $2.1 million and international revenue of around $3.3 million in Q4.

For FY23, PRCT revenue should hover between $135.9 million and $136.2 million (vs. 133.81 million), representing growth of approximately 81% to 82% Y/Y.

"As we enter 2024, we are well positioned to continue to deliver outsized revenue growth driven by outstanding real-world clinical outcomes of Aquablation Therapy, the largest and most tenured capital sales team in the company's history, and strong surgeon interest leading to rapid adoption within urology practices," Reza Zadno, Procept's chief executive officer, said.

The company plans Q4 and FY23 results on Feb. 27, 2024.

Price Action: PRCT shares are up 7.06% at $45.19 on the last check Tuesday.