Key Points
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Q3 revenue rose 18% to $98.3 million, supported by consumables and international growth, while the net loss widened to $26.5 million and adjusted EBITDA loss increased to $9.8 million.
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HYDROS adoption is reshaping the business: procedure volume at HYDROS accounts was more than 35% above AquaBeam accounts, and PROCEPT shipped 62 systems. New-account placements came in below expectations, but the company maintained its 2026 outlook.
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PROCEPT kept its 2026 revenue forecast at $390 million to $410 million and expects positive adjusted EBITDA in Q4. Management’s initial 2027 planning assumption is about 20% revenue growth; it also expects key WATER IV prostate cancer trial results in May 2027.
PROCEPT BioRobotics (NASDAQ:PRCT) reported 18% revenue growth in the third quarter of 2026 as demand for its HYDROS systems and procedure-related products helped offset slower-than-expected placements at new U.S. accounts.
The company maintained its full-year revenue outlook and said it expects to reach positive adjusted EBITDA in the fourth quarter. Management also offered an initial 2027 planning assumption of approximately 20% revenue growth, while emphasizing that formal guidance will come later.
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Third-quarter revenue rose to $98.3 million, while the net loss widened to $26.5 million from $21.4 million a year earlier. U.S. procedures increased approximately 22% to more than 13,400.
HYDROS transition drives strategy
CEO Larry Wood said procedure volume at HYDROS accounts was more than 35% higher than at accounts using the older AquaBeam system. He attributed weakness in AquaBeam utilization primarily to surgeons choosing HYDROS when they have access to both platforms, sometimes deferring cases to use the newer system.
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Is PROCEPT BioRobotics the Next Big Thing in Surgical Robotics?
Wood cited HYDROS features including enhanced imaging, AI-driven planning and a more efficient workflow. He said the company did not yet have enough experience with replacement systems to provide meaningful metrics on how individual account upgrades affect utilization.
PROCEPT shipped 62 HYDROS systems in the quarter, including 20 replacements, bringing its year-to-date replacement total to 36. The company now expects 50 to 60 replacement sales for 2026 at an average selling price of approximately $315,000. Wood said the company had initially expected five to 10 replacements for the full year.
