PRCT - Procept BioRobotics spikes as guidance tops estimates

The shares of Procept BioRobotics(PRCT +4.8%) have recorded the second biggest intraday gain on Tuesday after the surgical robotics company issued better-than-expected guidance for 2022 and the current quarter. Revenue for Q4 and full-year 2021 climbed ~216% YoY and ~348% YoY to $10.1M and $34.5M, respectively. The U.S. system and rental revenue grew ~317% YoY to $5.0M, while U.S. handpiece and consumables generated ~$3.4M with ~325% YoY growth. As of the year-end, the install base of Aquabeam Robotic Systems in the U.S. was 78 units compared to 75 units at the end of Q3 2021. Even as the gross margin for the quarter stood at ~45% from ~15% in the prior-year period, the quarterly net loss climbed ~20% YoY to $18.3M, driven by a ~56% YoY growth in operating expenses that reached to $21.3M. Full-year net loss increased ~13% YoY to $59.9M, while gross margin rose to ~46% from ~16%

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Procept BioRobotics spikes as guidance tops estimates