One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
PROCEPT BioRobotics Corporation
PRCT · NGM · Healthcare · Medical Devices
Current price
$18.51
52-week range
$16.66 - $39.99
Market cap
$1.05B
Balance sheet
Healthy
-28.96x Concerning
Net cash $150.41M. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
1 Risk
1 rewards · 1 risks
- Reward Revenue grew 9.5% last year.
- Risk Return on equity was -30.2% last year — the company lost money on shareholders' equity.
What this company does
PROCEPT BioRobotics Corporation
PROCEPT BioRobotics makes and sells robotic systems, like its AquaBeam product, that help surgeons treat an enlarged prostate, a common condition in men. The company's goal is to offer a more precise, minimally invasive option for a widespread health issue, which could improve patient recovery and outcomes.
How the company got here
PROCEPT BioRobotics was founded in 2007 to create a new, robotic way to treat a common men's health issue called benign prostatic hyperplasia (BPH), or an enlarged prostate. For many years, the company focused on developing its technology and running clinical trials to prove it was safe and effective. A major turning point came in 2017 when its AquaBeam Robotic System received clearance from the U.S. Food and Drug Administration (FDA), allowing it to be sold in the United States. The company went public with an initial public offering (IPO), meaning it started selling shares of its stock to the public, in 2021 to raise money and expand its business.
What it actually does
PROCEPT BioRobotics is a surgical robotics company that has developed a unique treatment for an enlarged prostate, a condition that affects many men as they get older. It created a system called the AquaBeam Robotic System, which uses a high-pressure, heat-free waterjet to precisely remove excess prostate tissue. This procedure, called Aquablation therapy, is guided by real-time imaging, allowing surgeons to create a customized map for each patient's prostate. The goal is to relieve symptoms with a minimally invasive surgery, which means it's done without large incisions in the abdomen.
Robotic Systems and Consumables
This is the company's single line of business, focused on what is known as a 'razor-and-blade' model. First, the company sells its AquaBeam or HYDROS Robotic Systems to hospitals and surgical centers. Then, for every surgery performed with the robot, the hospital must purchase a single-use handpiece and other consumables (disposable items used for the procedure). This creates a recurring revenue stream (ongoing income from the same customers) that is a key part of the company's strategy. The initial sale of the robotic system is important, but the repeated sales of the disposable handpieces for each procedure make up a significant and growing portion of the company's income.
What management is betting on now
Management is focused on making its Aquablation therapy the go-to surgical treatment for enlarged prostates. A key part of their strategy is to increase the number of hospitals and surgery centers that have their robotic systems, what's known as the installed base. They are also working to increase how often these systems are used by surgeons, which drives the sale of the profitable single-use handpieces. The company is also investing in new technology, like its next-generation HYDROS system with AI-powered software, to make the procedure even more precise and consistent. Additionally, PROCEPT is exploring the use of its technology for other conditions, including a clinical trial for treating prostate cancer.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-19.05M
FY2024 Q4
$-33.56M
FY2025 Q1
$-18.82M
FY2025 Q2
$-17.84M
FY2025 Q3
$-9.50M
FY2025 Q4
$-12.18M
FY2026 Q1
$-41.04M
FY2026 Q2
$-22.20M
Revenue
$94.50M
Net income
$-26.86M
Diluted EPS
-0.47
Operating cash flow
$-19.25M
Free cash flow
$-22.20M
Fetching…
Sources
Revenue
$83.13M
Net income
$-31.64M
Diluted EPS
-0.56
Operating cash flow
$-38.13M
Free cash flow
$-41.04M
Fetching…
Sources
Revenue
$76.38M
Net income
$-29.85M
Diluted EPS
-0.54
Operating cash flow
$-10.33M
Free cash flow
$-12.18M
Fetching…
Sources
Revenue
$83.33M
Net income
$-21.41M
Diluted EPS
-0.38
Operating cash flow
$-6.63M
Free cash flow
$-9.50M
Fetching…
Sources
Revenue
$79.18M
Net income
$-19.58M
Diluted EPS
-0.35
Operating cash flow
$-15.04M
Free cash flow
$-17.84M
Fetching…
Sources
Revenue
$69.16M
Net income
$-24.74M
Diluted EPS
-0.45
Operating cash flow
$-16.98M
Free cash flow
$-18.82M
Fetching…
Sources
Revenue
$68.24M
Net income
$-18.86M
Diluted EPS
-0.34
Operating cash flow
$-32.39M
Free cash flow
$-33.56M
Fetching…
Sources
Revenue
$58.37M
Net income
$-20.97M
Diluted EPS
-0.40
Operating cash flow
$-18.80M
Free cash flow
$-19.05M
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $18.51
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $150.4M - more cash than debt. Interest coverage -29.0x.
Net debt
$-150.41M
Interest coverage
-28.96x
PROCEPT BioRobotics Corporation's profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 1 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
PRCT
BASELINE
PROCEPT BioRobotics Corporation
Total debt $77.50M Interest coverage -28.96x This is the baseline the peer rows are being compared against.
Total debt $29.09M Interest coverage 371.93x This peer still has a real interest-payment cushion, while PRCT does not.
Total debt $727.35M Interest coverage -4.03x Neither company has much profit cushion over interest right now.
Total debt $212.71M Interest coverage 144.35x This peer still has a real interest-payment cushion, while PRCT does not.
What you should know
The case for and against PRCT
1 Reward
1 Risk
Rewards
-
Revenue grew 9.5% last year.
Risks
-
Return on equity was -30.2% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
-16.05x
P/B
3.12x
P/S
3.12x
EV/EBITDA
-8.26x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
63.4%
Operating margin
-32.1%
Net margin
-32.5%
ROE
-30.2%
ROA
-14.8%
Health
Liquidity and balance-sheet strength
Debt / equity
0.23x
Current ratio
6.55x
Quick ratio
5.23x
Total debt
$77.50M
Total cash
$227.91M
Growth
How the business has been compounding
Revenue TTM
$337.34M
Revenue 5Y CAGR
72.9%
EPS TTM
-1.95
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-74.34M
Free CF TTM
$-58.34M
FCF margin
-17.3%
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
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