PROCEPT BioRobotics Corp. (NASDAQ:PRCT) shares are down during Thursday’s premarket session following the company’s recent financial results and updates on its revenue guidance.
Performance Metrics
In its fourth quarter of 2025, PROCEPT BioRobotics reported total revenue of $76.4 million, marking a 12% increase compared to the prior year, missing the consensus of $94.14 million. The increase was primarily driven by increased handpiece revenue.
U.S. handpiece and consumable revenue was $34.0 million, an increase of 16%. U.S. system revenue reached $27.6 million, which was flat compared to the prior year period.
As of December 31, 2025, the install base of robotic systems in the U.S. was 718 systems, an increase of 42%.
The company reported a loss of 53 cents, missing the consensus loss of 32 cents.
Gross margin for the fourth quarter of 2025 declined to 61%, down from 64% in the same period a year earlier. The decrease was primarily attributable to lower-than-expected U.S. consumables revenue, along with a one-time expense related to a voluntary field action.
"In the fourth quarter, we delivered our highest procedure volume to date—approximately 12,200—and sold 65 new systems, marking our strongest capital quarter," said Larry Wood, CEO.
“To sharpen our focus on delivering durable procedure growth, we realigned our commercial organization, established a dedicated launch team to reduce activation variability, and implemented a more disciplined handpiece pricing strategy. Furthermore, we successfully reduced field inventory levels and eliminated end-of-quarter purchasing incentives, which led to a fourth quarter revenue shortfall but improved handpiece average selling price by approximately 5%," Wood commented on Wednesday.
Guidance
"Historically, handpiece unit sales exceeded procedure volumes by approximately 8% to 16%. Going forward, we expect handpiece unit sales and procedure volumes to be closely aligned," said Wood.
"While annual U.S. procedure growth will be in the range of 39% to 48%, our decision to forecast procedure and handpiece volumes in close alignment has reduced our projected 2026 handpiece revenue guidance; however, this impact is meaningfully offset by higher handpiece prices of $3,500 per unit.”
“Considering these factors, together with the short-term disruption associated with the sales force realignment…,” Wood added.
PROCEPT BioRobotics expects first quarter 2026 sales between $79 and $82 million compared consensus of $92.65 million.
The company expects total procedures for the first quarter of 12,000-12,800, up 31%-36%.
The robotic system maker lowered its fiscal 2026 sales guidance from $410 million-$430 million to $390 million-$410 million, with U.S. procedure growth between 39% and 48%.
Analyst View
William Blair notes that after a 30% decline, the stock is trading at roughly 2x its updated 2026 sales estimate, near the low end of the small- and mid-cap medtech peer group.
The firm believes this undervaluation overlooks a still underpenetrated total addressable market (TAM), potential expansion into prostate cancer (which it says is currently not reflected in the share price), and leadership under a CEO with a track record of establishing standards of care in medical devices.
“We acknowledge the noise around the model and commercial execution can make this a difficult recommendation, but we are buyers of the stock on weakness and maintain our Outperform rating,” analyst Brandon Vazquez wrote on Wednesday.
Technical Analysis
The stock is currently trading 21.88% below its 20-day simple moving average (SMA) and 32.5% below its 100-day SMA, indicating significant short-term weakness. Over the past 12 months, shares have decreased substantially and are currently positioned closer to their 52-week lows than highs.
The RSI is at 44.45, which is considered neutral territory, suggesting that the stock is neither overbought nor oversold at this time. Meanwhile, MACD is not available, limiting insights into momentum trends.
The combination of neutral RSI and the absence of MACD data suggests mixed momentum for the stock, indicating that traders should remain cautious.
- Key Resistance: $26.00
- Key Support: $21.00
PRCT Price Action: PROCEPT BioRobotics shares were down 26.33% at $20.51 during premarket trading on Thursday. The stock is trading at a new 52-week low, according to Benzinga Pro data.
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