PROCEPT BioRobotics (PRCT) 45th Annual William Blair Growth Stock Conference summary

Market opportunity and clinical need

• BPH affects 40 million men in the U.S., with prevalence rising as the population ages; the number of men over 65 is expected to double by 2060.

• Current treatments for BPH have significant side effects, leading many patients to avoid surgery and remain on medication.

• Aquablation therapy addresses unmet needs by offering a solution suitable for all prostate sizes and shapes, aiming to minimize side effects.

• The technology is supported by robust clinical data and is positioned to become the standard of care in BPH treatment.

• Full Medicare and broad private payer coverage enable access for about 95% of eligible patients.

Technology and clinical outcomes

• Aquablation uses an automated water jet and ultrasound guidance to avoid heat damage and improve safety and efficacy.

• Clinical trials (WATER, WATER II, WATER III) demonstrated superior or comparable safety and efficacy to TURP and enucleation, with lower rates of incontinence and sexual dysfunction.

• The HYDROS Robotic System, launched recently, offers AI-powered planning, advanced imaging, and faster setup.

• Consistent and predictable outcomes across all prostate sizes have led many hospitals to standardize on this procedure.

• Over 540 systems have been installed in the U.S., with more than 30,000 cases performed last year.

Commercial strategy and adoption

• Standardization to the robotic platform is driven by predictable outcomes, efficiency, and ease of use, appealing to both experienced and younger urologists.

• Most market share is taken from TURP and GreenLight procedures, with growing awareness among patients.

• Surgeon retention, clinical outcomes, and net promoter scores are key focus areas for driving adoption.

• Expansion within high-volume centers starts with top surgeons and broadens as reimbursement and payer limitations are addressed.

• International growth is strong, with significant revenue increases in the U.K. and Japan.