PROCEPT BioRobotics (PRCT) Q3 2026 earnings summary

Executive summary

• Q3 revenue was $98.3M, up 18% YoY; U.S. procedures exceeded 13,400, up ~22%, supported by HYDROS utilization and account conversions.

• Global install base reached 1,095 systems, including 858 in the U.S.; 20 of 62 U.S. HYDROS placements were replacements.

• 9M revenue increased 19% YoY to $275.9M, while net loss widened to $85.0M from $65.7M.

Financial highlights

• Q3 gross profit was $65.1M; gross margin was 66% versus 65%, with $3.2M in tariff refunds contributing to the increase.

• Operating expenses rose to $92.5M from $77.2M, reflecting investments in personnel, product development, clinical studies, and sales and marketing.

• Net loss was $26.5M versus $21.4M; operating loss was $27.4M versus $23.2M, and diluted loss per share was $0.46 versus $0.38.

• Adjusted EBITDA loss was $9.8M versus $7.4M in Q3 2025.

• 9M gross profit was $181.5M, up 21%; operating expenses rose 21% to $268.8M, and operating loss was $87.4M versus $72.8M.

Outlook and guidance

• FY26 revenue guidance remains $390M-$410M, or 27%-33% growth; U.S. procedure guidance is 54,000-56,000, and international revenue guidance is $50M-$51M.

• FY26 gross margin guidance is ~65%; OpEx guidance is $359M-$363M and adjusted EBITDA loss guidance is $30M-$35M, implying positive adjusted EBITDA in Q4.

• FY26 system revenue is expected to exceed initial guidance; replacement sales are forecast at 50-60 systems, with ASP of ~$315,000.

• ~20% YoY revenue growth is the 2027 planning baseline, assuming capital similar to 2026, stable pricing, and HYDROS mix shift; cancer-market contribution is excluded.