PROCEPT BioRobotics Corporation (PRCT) Stock

PROCEPT BioRobotics Corporation (PRCT) is a Healthcare stock trading at $20.74 (as of 2026-08-20), with a market capitalization of $1.18B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

PROCEPT BioRobotics Corporation, a surgical robotics company, develops transformative solutions in urology. It develops, manufactures, and sells AquaBeam Robotic System, an image-guided, surgical robotic system for use in minimally-invasive urologic surgery with a focus on treating benign prostatic hyperplasia (BPH). The company also designs Aquablation therapy for males suffering from lower urinary tract symptoms due to BPH. As of December 31, 2021, it had an install base of 130 AquaBeam Robotic Systems worldwide comprising 78 in the United States. PROCEPT BioRobotics Corporation was incorporated in 2007 and is headquartered in Redwood City, California.

Understand PROCEPT BioRobotics Corporation: how it makes money

PROCEPT BioRobotics makes AquaBeam Robotic System for minimally invasive urologic surgery for BPH, and it also sells Aquablation therapy and related handpieces and other consumables that are used after customers have a system installed, creating ongoing revenue tied to system use.

The profit engine is the installed AquaBeam system base, which drives recurring handpieces and other consumables demand, so operating performance depends heavily on utilization per account and the resulting consumables revenue.

Business quality (Weak): Strong gross margin profile, but the company is still reporting a large operating loss, so investor focus is on whether utilization translates into sustainable consumables revenue at scale.

Bull case

Recurring usage matters: The company reports monthly utilization (handpieces per account), which is directly connected to how often patients are treated using installed systems and therefore supports ongoing handpiece and other consumables demand.
Install base provides a base for growth: As of December 31, 2021, it had an install base of 130 AquaBeam Robotic Systems worldwide, including 78 in the United States, giving it an installed base that can generate consumables revenue over time.
Gross margin is high: For the latest reported period (2026-03-31), gross margin is 64.9%, indicating the core product and consumables economics are not the main issue.

Bear case

Operating losses: For 2026-03-31, operating margin is -39.2%, showing the company is not yet converting its gross profit into operating profit.
Scale and geography concentration risk: Candidate breakdown shows United States revenue of 0.07B versus total revenue of 0.1B, so performance may be sensitive to demand and reimbursement dynamics in the United States.

Valuation — source: SEC EDGAR (first-party)
Price	$20.74
Market Cap	$1.18B
Price / Book	3.40
Price / Sales	3.75
FCF Yield	-12.1%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$308.05M
Net Margin	-31.0%
Revenue Growth (YoY)	37.2%
EPS Growth (YoY)	-1.7%
FCF Growth (YoY)	-43.7%

Financial Health — source: SEC EDGAR
Altman Z-Score	4.01 (safe)
Piotroski F-Score	3/9 (weak)

Valuation vs Sector & Industry
Sector P/E (Healthcare)	21.6
Industry P/E (Medical Equipment)	32.9

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($163.66M)
Institutional Holders Tracked	10

Company
Sector	Healthcare
Industry	Medical Equipment
CEO	Larry L. Wood
Employees	756
Country	US
IPO Date	2021-09-15

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Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.