Procept Biorobotics: Grows by 83% in Q1 and Raises Sales Forecast. The AQUABEAM System Could be Considered for Prostate Cancer Treatment!

Robotics is one of the most exciting investment trends. Procept Biorobotics (PRCT) currently stands out in this regard. After yesterday's figures and the updated outlook, the share moved to a 52-week high.

With its AQUABEAM robotic system, the group enables aquablation therapy, in which prostate tissue is removed using water pressure. The system from Procept BioRobotics is used in the treatment of prostate hyperplasia, a benign enlargement of the prostate that makes urination difficult. This new, gentle method is beginning to catch on.

As reported on May 1, 2024, the company achieved 83% growth to $44.5 million in the first quarter. Consumables accounted for $23.6 million and saw a 101% increase in revenue. In the long term, when the installed base of currently 354 robots has increased significantly, the recurring, high-margin revenue will be generated by consumables. This is because the market addressed is 2,700 hospitals in size. New customers from the hospital sector in particular opted for the robotic system. At the bottom line, the group still posted a net loss of $26 million. This will change in the long term. The story is comparable to Intutitive Surgical, which already has over 8,000 systems installed with its surgical robots and is now living off the consumables business.

Because demand is strong, Procept Biorobotics has raised its 2024 outlook. Sales growth should be 57% to $213.5 million. Previously, $210 million was assumed. EBITDA will be less strongly negative with a loss of $70 million than previously with a loss of $73 million. It is also exciting that aquablation therapy could also be used in the treatment of prostate cancer to reduce surgical damage. In addition, the investment environment for hospitals looks stable to slightly improving. Hospitals are even beginning to prioritize investments in AQUABEAM robotic systems in order to ensure competitiveness and avoid losing patients to other hospitals.

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