GET DAILY SIGNALSPROCEPT BioRobotics (PRCT) Delivers 18% Revenue Growth in Q3 Despite Slight Miss
Key Takeaways
- PROCEPT BioRobotics reported third-quarter 2026 revenue of $98.3 million, up 18% year over year, but slightly below the consensus estimate of roughly $100.5 million.
- Net loss per share (EPS, or earnings per share) was $0.46, a larger loss than the $0.39 analysts had expected.
- U.S. procedure volume climbed 22% to more than 13,400 procedures, driven by strong utilization of the HYDROS robotic system.
- Management reaffirmed full-year 2026 revenue guidance of $390 million to $410 million and reiterated its goal of positive adjusted EBITDA in the fourth quarter.
- International revenue reached a record $12.5 million, up 32% year over year.
Why This Quarter Matters to Investors
PROCEPT BioRobotics is a surgical robotics company focused on urology, best known for its HYDROS system and Aquablation therapy, which treats benign prostatic hyperplasia (BPH, an enlarged prostate). This quarterly report matters because it tests whether the company can sustain double-digit procedure growth while simultaneously transitioning its installed base from legacy AquaBeam systems to the newer HYDROS platform. I am watching the path to profitability closely, as management has repeatedly pointed to positive adjusted EBITDA by the fourth quarter of 2026. With procedure volume, system pricing, and gross margin all moving in the right direction, the third-quarter print offers a key read on the durability of the company's commercial momentum. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
Breaking Down the Reported Results
For the quarter ended September 30, 2026, PROCEPT BioRobotics reported total revenue of $98.3 million, an 18% increase from $83.3 million in the prior-year period. The figure came in modestly below the consensus estimate of approximately $100.5 million. U.S. revenue rose 16% to $85.8 million, while international revenue grew 32% to a record $12.5 million.
U.S. procedures increased 22% year over year to more than 13,400, and U.S. handpiece and consumable revenue climbed 21% to $53.9 million, supported by a higher handpiece average selling price (ASP) of approximately $3,570. The company shipped 62 HYDROS systems in the quarter, including 20 replacement systems, at a new-system ASP of approximately $495,000.
Gross margin improved to 66% from 65% a year earlier. Operating expenses rose to $92.5 million from $77.2 million, reflecting investment in clinical studies, product development, and sales programs. The net loss widened to $26.5 million, or $0.46 per share, compared with a net loss of $21.4 million, or $0.38 per share, in the prior-year period. Adjusted EBITDA was a loss of $9.8 million, versus a loss of $7.4 million a year ago. Cash, cash equivalents, and restricted cash totaled $221.4 million at quarter-end.
Market Reaction and Investor Sentiment
Heading into the report, sentiment was mixed after the company missed the EPS consensus estimate in the second quarter even as revenue topped expectations. The third-quarter results carried a similar theme: solid top-line growth and healthy procedure momentum, but a bottom-line result that landed slightly below analyst forecasts. The reaffirmation of full-year revenue guidance of $390 million to $410 million and the reiterated commitment to positive adjusted EBITDA in the fourth quarter are likely to be the most closely watched signals for investor confidence. The company's emphasis on pricing discipline, an accelerating HYDROS replacement cycle, and a record international quarter provide supportive context, though the modest revenue and EPS shortfalls may temper near-term enthusiasm.
Forward Outlook and Key Factors to Monitor
Management reiterated its full-year 2026 revenue outlook of $390 million to $410 million, implying 27% to 33% growth versus 2025, and now expects roughly 54,000 U.S. procedures for the year. The company also guided for fourth-quarter gross margin of about 65% and full-year operating expenses of $359 million to $363 million, with adjusted EBITDA expected to turn positive in the fourth quarter.
One key dynamic to watch is the pace of the AquaBeam-to-HYDROS upgrade cycle. Management now expects 50 to 60 replacement system sales in 2026 at an ASP of roughly $315,000, a sign that account conversions are accelerating. Because HYDROS accounts generate meaningfully higher procedure volume than legacy AquaBeam accounts, a faster transition could support stronger recurring revenue over time.
Looking further ahead, management indicated that approximately 20% revenue growth is a reasonable starting point for 2027 planning. Investors should also monitor gross margin trends, handpiece pricing, and international expansion in the United Kingdom and Japan. Finally, the WATER4 clinical trial, which compares Aquablation therapy to radical prostatectomy for prostate cancer, remains a major catalyst, with primary endpoint results expected in May 2027.
Using AI Tools in My Research Process
In my analysis of names like PRCT, I frequently turn to Tickeron's AI Screener for a structured way to filter opportunities based on technical patterns, fundamentals, and performance metrics. It helps surface candidates efficiently and supports a more systematic approach without replacing my own judgment on the numbers and outlook.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
PRCT's MACD Histogram just turned positive
The Moving Average Convergence Divergence (MACD) for PRCT turned positive on October 08, 2026. Looking at past instances where PRCT's MACD turned positive, the stock continued to rise in 38 of 45 cases over the following month. The odds of a continued upward trend are 84%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where PRCT's RSI Indicator exited the oversold zone, 26 of 37 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 70%.
The Momentum Indicator moved above the 0 level on October 15, 2026. You may want to consider a long position or call options on PRCT as a result. In 75 of 92 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 82%.
PRCT moved above its 50-day moving average on November 02, 2026 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for PRCT crossed bullishly above the 50-day moving average on October 30, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In 13 of 16 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 81%.
Following a +5.05% 3-day Advance, the price is estimated to grow further. Considering data from situations where PRCT advanced for three days, in 193 of 263 cases, the price rose further within the following month. The odds of a continued upward trend are 73%.
The Aroon Indicator entered an Uptrend today. In 148 of 178 cases where PRCT Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 83%.
Bearish Trend Analysis
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In 43 of 52 cases where PRCT's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are 83%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where PRCT declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 82%.
PRCT broke above its upper Bollinger Band on October 22, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Fundamental Analysis (Ratings)
The Tickeron Valuation Rating of 20 (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (3.397) is normal, around the industry mean (4.170). P/E Ratio (-10.344) is within average values for comparable stocks, (1.500). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (11.253). Dividend Yield (0.000) settles around the average of (0.010) among similar stocks. P/S Ratio (3.249) is also within normal values, averaging (40.124).
The Tickeron PE Growth Rating for this company is 54 (best 1 - 100 worst), pointing to average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is 57 (best 1 - 100 worst), indicating steady price growth. PRCT’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is 97 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. PRCT’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 95, placing this stock worse than average.
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Advertisement
General Information
Industry MedicalNursingServices