Key Highlights

  • Revenue rose 18% to USD 98.3 million in the third quarter, from USD 83.3 million, with handpieces and consumables up 22% to USD 60.8 million.
  • Net loss was USD 26.5 million, or USD 0.46 per share, against USD 21.4 million, or USD 0.38, a year earlier, as selling, general and administrative expense rose 23%.
  • Gross Margin was 66% against 65%, and the filing attributes the year-over-year increase primarily to Tariff refunds of USD 3.2 million.
  • Cash and cash equivalents were USD 218.4 million at September 30, 2026, with USD 52.0 million outstanding on the Loan Facility and an accumulated Deficit of USD 726.6 million.

Consumables and Service Outgrow System Sales

PROCEPT BioRobotics (NASDAQ:PRCT) filed its Quarterly Report for the period ended September 30, 2026 on November 4, 2026. Revenue of USD 98.3 million was up 18%, with U.S. revenue at USD 85.8 million and revenue outside the United States at USD 12.5 million, which was 13% of the total. Handpieces and consumables rose 22%, service revenue rose 51% to USD 8.3 million, and system sales and leases rose only 4% to USD 29.2 million. The company makes the AquaBeam and HYDROS robotic systems, which use water-jet Aquablation therapy to treat benign prostatic hyperplasia, and had 1,095 systems installed globally, 858 of them in the United States.

Operating Spending Grows Faster Than Gross Profit

Gross profit rose 21% to USD 65.1 million. Operating expenses rose 20% to USD 92.5 million, with selling, general and administrative expense up USD 13.5 million to USD 72.5 million on sales and Marketing headcount, Stock Compensation and consulting, and Research and Development up 10% to USD 20.0 million. Loss from operations widened 18% to USD 27.4 million, and interest and other income fell 39% to USD 1.7 million on lower cash balances. For nine months, revenue was USD 275.9 million, up 19%, and the net loss was USD 85.0 million, or USD 1.49 per share, against USD 65.7 million, or USD 1.19.

Securities Class Action, Derivative Suit and Funding Needs

The filing discloses a putative securities class action filed on July 24, 2026 on behalf of buyers of the stock between February 28, 2024 and February 25, 2026, and a related Shareholder derivative action filed on September 15, 2026. The company says both are at an early stage and it cannot predict the outcome or estimate a loss. It expects expenses to keep increasing as it invests in its sales force, operations and research. Because the filing attributes the gross margin gain primarily to tariff refunds, the underlying margin trend is harder to read. Reimbursement from Medicare, Medicaid and private payors also remains central to procedure demand, and the filing notes that all local Medicare administrative contractors issued positive coverage decisions effective in 2021. The company manufactures its systems and handpieces at a single facility in San Jose, California. The filing in the sections reviewed gives no revenue or Earnings guidance.

Where Things Stand

Spending is growing faster than gross profit. Revenue grew 18% and Gross Profit 21%, but operating expenses rose 20% on a larger base, so the operating loss widened 18% to USD 27.4 million. PROCEPT BioRobotics (NASDAQ:PRCT) has USD 218.4 million of cash, a recurring consumables stream and a growing install base, yet a net loss that is still widening and lawsuits that add uncertainty. Next markers are system placements, utilization, the cost trajectory in sales and marketing and developments in the class action.