Key Highlights

  • Third-quarter sales advanced 18% to USD 98.3 million from USD 83.3 million, and handpiece and consumable Revenue rose 22% to USD 60.8 million.
  • The net loss widened to USD 26.5 million, or USD 0.46 a share, from USD 21.4 million, or USD 0.38, while selling, general and administrative costs grew 23%.
  • Gross Margin reached 66%, up from 65%, a lift that the filing mainly attributes to USD 3.2 million of Tariff refunds.
  • At September 30, 2026 cash and equivalents totaled USD 218.4 million, USD 52.0 million was outstanding on the Loan facility, and the accumulated Deficit stood at USD 726.6 million.

Consumables and Services Pull Ahead of Equipment Sales

PROCEPT BioRobotics (NASDAQ:PRCT) submitted its quarterly filing on November 4, 2026, for the period ended September 30. Revenue of USD 98.3 million climbed 18%: U.S. revenue reached USD 85.8 million, while sales outside the United States came to USD 12.5 million, roughly 13% of the total. Service revenue jumped 51% to USD 8.3 million, while systems and leases grew 4%, reaching USD 29.2 million. The company manufactures AquaBeam and HYDROS robotic platforms that deliver water-jet Aquablation for benign prostatic hyperplasia. It had 1,095 systems installed globally, including 858 in the United States, and that installed base underpins the recurring consumables revenue.

Operating Spend Outpaces Gross Profit Growth

Gross profit increased 21% to USD 65.1 million, but operating expenses grew 20% to USD 92.5 million. Selling, general and administrative spending rose USD 13.5 million to USD 72.5 million, reflecting sales and Marketing staff, stock-based pay and consultants, while Research and Development rose 10% to USD 20.0 million. Operating loss grew 18%, reaching USD 27.4 million, while interest and other income fell 39% to USD 1.7 million, reflecting thinner cash balances. For the first nine months, sales totaled USD 275.9 million, up 19%, and the net loss reached USD 85.0 million, or USD 1.49 a share, versus USD 65.7 million, or USD 1.19.

Securities Litigation, Funding Requirements and Production Footprint

The filing describes a putative securities class action filed July 24, 2026 for purchasers between February 28, 2024 and February 25, 2026, along with a related Shareholder derivative suit filed September 15, 2026. Management says both are preliminary and cannot forecast outcomes or estimate losses. Spending is expected to climb further as the company expands its sales force, operations and research. Since the margin improvement was primarily tied to tariff refunds, the underlying trend is harder to judge. Demand still depends on Medicare, Medicaid and private payor reimbursement, and every local Medicare contractor issued favorable coverage decisions effective in 2021. Systems and handpieces are produced at a single San Jose, California site, and the reviewed sections provide no revenue or Earnings guidance. Reimbursement approvals therefore weigh heavily on how fast new procedures can be adopted.

Where Things Stand

Spending is racing ahead of gross profit. Revenue rose 18% and gross profit 21%, yet operating expenses climbed 20% from a bigger base, pushing the operating loss to USD 27.4 million. With USD 218.4 million in cash, a steady consumables stream and an expanding installed base, PROCEPT BioRobotics (NASDAQ:PRCT) still posts a widening net loss, and lawsuits add uncertainty. Investors should monitor system placements, utilization, the path of sales and marketing costs and any developments in the class action.