Revenue growth has normalized to 20.2% in 2026Q1, while gross margins have improved to 64.9% as the company shifts toward higher-margin recurring disposables.
| Sales/Revenue | 322.02M | 308.05M | 224.5M | 136.19M | 75.01M | 34.47M | 7.72M | 6.17M |
| Revenue Growth % | 29.26% | 37.22% | 64.84% | 81.55% | 117.6% | 346.72% | 25.09% | - |
| Cost of Goods Sold | 119.22M | 111.83M | 87.4M | 65.14M | 37.93M | 18.61M | 8.97M | 8.05M |
| COGS % of Revenue | - | 36.3% | 38.93% | 47.83% | 50.56% | 53.98% | 116.26% | 130.56% |
| Gross Profit | 202.81M | 196.23M | 137.1M | 71.05M | 37.09M | 15.87M | -1.25M | -1.89M |
| Gross Margin % | 62.98% | 63.7% | 61.07% | 52.17% | 49.44% | 46.02% | -16.26% | -30.56% |
| Gross Profit Growth % | - | 43.13% | 92.96% | 91.58% | 133.75% | 1364.14% | 33.42% | - |
| Operating Expenses | 311.83M | 300.08M | 233.71M | 180.22M | 117.81M | 70.03M | 46.55M | 41.66M |
| OpEx % of Revenue | - | 97.41% | 104.1% | 132.33% | 157.05% | 203.14% | 603.17% | 675.39% |
| Selling, General & Admin | 238.7M | 228.81M | 171.41M | 131.77M | 88.83M | 51.04M | 30.27M | 28.52M |
| SG&A % of Revenue | - | 74.28% | 76.35% | 96.76% | 118.42% | 148.05% | 392.28% | 462.28% |
| Research & Development | 73.13M | 71.28M | 62.3M | 48.45M | 28.98M | 18.99M | 16.27M | 13.15M |
| R&D % of Revenue | - | 23.14% | 27.75% | 35.57% | 38.63% | 55.1% | 210.9% | 213.11% |
| Other Operating Expenses | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -109.03M | -103.86M | -96.61M | -109.17M | -80.72M | -54.16M | -47.8M | -43.55M |
| Operating Margin % | -33.86% | -33.71% | -43.04% | -80.16% | -107.61% | -157.12% | -619.44% | -705.95% |
| Operating Income Growth % | - | -7.5% | 11.5% | -35.24% | -49.04% | -13.31% | -9.76% | - |
| EBITDA | -102.38M | -97.47M | -91.38M | -105.36M | -77.88M | -50.84M | -44.94M | -42.06M |
| EBITDA Margin % | -31.79% | -31.64% | -40.7% | -77.36% | -103.82% | -147.48% | -582.38% | -681.73% |
| EBITDA Growth % | -12.65% | -6.66% | 13.27% | -35.28% | -53.19% | -13.12% | -6.86% | - |
| D&A (Non-Cash Add-back) | 6.65M | 6.39M | 5.23M | 3.81M | 2.84M | 3.32M | 2.86M | 1.49M |
| EBIT | -109.03M | -103.86M | -87.23M | -101.9M | -81.97M | -54.04M | -47.76M | -41.25M |
| Net Interest Income | -3.53M | 8.63M | 6.71M | 3.56M | -2.69M | -5.73M | -5.08M | 425K |
| Interest Income | 0 | 12.22M | 10.89M | 7.55M | 2.5M | 76K | 184K | 1.15M |
| Interest Expense | 3.53M | 3.59M | 4.18M | 4M | 5.18M | 5.81M | 5.26M | 724K |
| Other Income/Expense | 6.75M | 8.48M | 5.2M | 3.27M | -6.43M | -5.69M | -5.22M | 1.57M |
| Pretax Income | -102.28M | -95.38M | -91.41M | -105.9M | -87.15M | -59.85M | -53.02M | -41.98M |
| Pretax Margin % | -31.76% | -30.96% | -40.72% | -77.76% | -116.18% | -173.62% | -687.04% | -680.42% |
| Income Tax | 190K | 190K | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | -0.19% | -0.2% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -102.47M | -95.57M | -91.41M | -105.9M | -87.15M | -59.85M | -53.02M | -41.98M |
| Net Margin % | -31.82% | -31.02% | -40.72% | -77.76% | -116.18% | -173.62% | -687.04% | -680.42% |
| Net Income Growth % | -13.61% | -4.55% | 13.68% | -21.51% | -45.61% | -12.89% | -26.31% | - |
| Net Income (Continuing) | -102.47M | -95.57M | -91.41M | -105.9M | -87.15M | -59.85M | -53.02M | -41.98M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.81 | -1.72 | -1.75 | -2.24 | -1.96 | -1.37 | -1.51 | -1.25 |
| EPS Growth % | -7.06% | 1.71% | 21.88% | -14.29% | -43.07% | 9.27% | -20.8% | - |
| EPS (Basic) | - | -1.72 | -1.75 | -2.24 | -1.96 | -1.37 | -1.51 | -1.25 |
| Diluted Shares Outstanding | 56.51M | 55.54M | 52.13M | 47.26M | 44.4M | 43.7M | 35.14M | 33.59M |
| Basic Shares Outstanding | 56.51M | 55.54M | 52.13M | 47.26M | 44.4M | 43.7M | 35.14M | 33.59M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
High commercial scaling costs
As reported in recent financial filings, PRCT's year-over-year revenue growth has decelerated from the 80% range observed in late 2023 to 20.2% in 2026Q1, suggesting that the initial rapid market penetration phase is transitioning toward a more sustainable, albeit slower, adoption curve within the urology sector.
The deceleration in top-line growth indicates that the company is moving past the early-adopter phase, where initial system placements drove outsized gains. Investors should monitor whether the current growth rate can be maintained as the company shifts focus from high-volume academic centers to smaller, more capital-constrained community hospitals.
Based on the provided income statement data, PRCT has improved gross margins from 48.8% in 2023Q4 to 64.9% in 2026Q1, reflecting a successful shift in revenue mix toward higher-margin recurring disposables as the installed base of AquaBeam robotic systems continues to expand across the domestic market.
While the margin expansion is encouraging, the current level remains below the 70-80% threshold typical of mature medical device peers. Achieving further structural improvement will likely require significant manufacturing efficiencies and a higher utilization rate of the installed base to offset the costs of the robotic hardware.
According to quarterly income statements, PRCT's operating expenses, particularly SG&A, continue to scale alongside revenue, resulting in persistent operating losses that reached $32.6 million in 2026Q1, indicating that the company has yet to demonstrate meaningful operating leverage despite its aggressive commercial expansion efforts in the BPH market.
The high fixed-cost structure, driven by a specialized direct sales force, suggests that profitability is secondary to market share capture at this stage. Analysts should watch for a divergence where revenue growth begins to outpace the growth in SG&A, which would signal the onset of operational efficiency.
Data from recent filings reveals that stock-based compensation has risen to $13.1 million in 2026Q1, a significant non-cash expense that effectively obscures the true magnitude of the company's cash burn and complicates the assessment of underlying operational profitability for investors evaluating the path to GAAP break-even.
The reliance on equity-based incentives suggests a strategy to preserve cash while attracting talent, but it also dilutes shareholders and inflates the reported expense profile. Investors should adjust for these non-cash charges to better understand the actual cash runway and the sustainability of the current operating model.
As noted in historical financial trends, the company's reliance on aggressive sales and marketing spend to drive adoption may be unsustainable, as evidenced by the $65.1 million SG&A expense in 2026Q1, which raises concerns about the long-term cost of customer acquisition in a competitive urological landscape.
Short-term revenue gains may be masking the difficulty of penetrating the broader market against established pharmaceutical and minimally invasive alternatives. If the company fails to achieve higher procedure volumes per system, the current high-cost commercial infrastructure may become a significant drag on future valuation and liquidity.
Quick answers to the most common questions about buying PRCT stock.
For fiscal year 2025, PROCEPT BioRobotics Corporation (PRCT) reported total revenue of $308.1M. This represents a 4893.6% increase compared to $6.2M in 2019.
PROCEPT BioRobotics Corporation (PRCT) reported a net loss of $95.6M for the fiscal year ending 2025.
PROCEPT BioRobotics Corporation (PRCT) reported an operating income of $-103.9M, resulting in an operating profit margin of -33.7%. This margin reflects the operational efficiency of the business before interest and taxes.
PROCEPT BioRobotics Corporation (PRCT) generated $196.2M in gross profit for the year, representing a gross profit margin of 63.7%. This demonstrates the company's core pricing power and production efficiency.