$PRCT

PROCEPT BioRobotics Corp

CIK:0001588978|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 94,498	$ 79,182	$ 177,631	$ 148,344
Cost of sales	32,119	27,436	61,304	52,437
Gross profit	62,379	51,746	116,327	95,907
Operating expenses:
Research and development	20,101	17,632	41,567	34,034
Selling, general and administrative	69,668	56,303	134,756	111,499
Total operating expenses	89,769	73,935	176,323	145,533
Loss from operations	(27,390)	(22,189)	(59,996)	(49,626)
Interest expense	(842)	(895)	(1,660)	(1,773)
Interest and other income, net	1,465	3,642	3,208	7,172
Loss before provision for income taxes	(26,767)	(19,442)	(58,448)	(44,227)
Provision for income taxes	94	136	51	89
Net loss	$ (26,861)	$ (19,578)	$ (58,499)	$ (44,316)
Net loss per share, basic (in dollars per share)	$ (0.47)	$ (0.35)	$ (1.03)	$ (0.80)
Net loss per share, diluted (in dollars per share)	$ (0.47)	$ (0.35)	$ (1.03)	$ (0.80)
Weighted-average common shares used to compute net loss per share attributable to common shareholders
Basic (in shares)	57,067	55,445	56,790	55,182
Diluted (in shares)	57,067	55,445	56,790	55,182
Other comprehensive loss:
Foreign currency translation adjustment	$ 41	$ (367)	$ (15)	$ (258)
Comprehensive loss	$ (26,820)	$ (19,945)	$ (58,514)	$ (44,574)

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (58,499)	$ (44,316)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation and amortization	3,724	3,063
Stock-based compensation expense	27,606	22,271
Non-cash lease adjustment	(318)	(254)
Provision for credit losses	604	900
Inventory write-down	706	490
(Gain) loss on foreign currency transactions	431	(348)
Changes in operating assets and liabilities:
Accounts receivable	(24,948)	1,223
Inventory	(6,828)	(11,068)
Prepaid expenses and other current assets	1,966	1,089
Other assets	(835)	(1,165)
Accounts payable	(1,316)	1,504
Accrued compensation	(2,726)	(5,248)
Accrued interest expense	100	52
Loan facility liability	0	(2,000)
Deferred revenue	984	223
Other liabilities	1,971	1,561
Net cash used in operating activities	(57,378)	(32,023)
Cash flows from investing activities:
Purchases of property and equipment	(5,867)	(4,638)
Net cash used in investing activities	(5,867)	(4,638)
Cash flows from financing activities:
Proceeds from issuance of common stock from the exercise of stock options	405	2,171
Proceeds from the issuance of common stock under employee stock purchase plan	4,313	3,505
Net cash provided by financing activities	4,718	5,676
Effect of exchange rates on cash, cash equivalents and restricted cash	(62)	(23)
Net decrease in cash, cash equivalents and restricted cash	(58,589)	(31,008)
Beginning of the period	289,541	336,763
End of the period	230,952	305,755
Reconciliation of cash, cash equivalents and restricted cash to balance sheets:
Cash and cash equivalents	227,914	302,717
Restricted cash	3,038	3,038
Cash, cash equivalents and restricted cash in balance sheets	230,952	305,755
Supplemental cash flow information
Interest paid	1,590	1,754
Non-cash investing and financing activities
Property and equipment included in accounts payable and accrued expenses	$ 121	$ 613

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 227,914	$ 286,503
Accounts receivable, net	107,606	83,533
Inventory	77,061	70,694
Prepaid expenses and other current assets	7,704	9,648
Total current assets	420,285	450,378
Restricted cash, non-current	3,038	3,038
Property and equipment, net	31,832	30,399
Operating lease right-of-use assets, net	16,773	17,538
Intangible assets, net	571	709
Other assets	6,853	6,019
Total assets	479,352	508,081
Current liabilities:
Accounts payable	15,069	17,285
Accrued compensation	20,443	23,175
Deferred revenue	14,088	13,048
Operating lease, current	2,505	2,214
Other current liabilities	12,091	10,073
Total current liabilities	64,196	65,795
Long-term debt	51,715	51,615
Operating lease, non-current	23,280	24,654
Other non-current liabilities	91	147
Total liabilities	139,282	142,211
Commitments and contingencies (see Note 11)
Stockholders’ equity:
Preferred stock, $0.00001 par value; Authorized shares: 10,000 at June 30, 2026 and December 31, 2025Issued and outstanding shares: none at June 30, 2026 and December 31, 2025	0	0
Common stock, $0.00001 par value; Authorized shares: 300,000 at June 30, 2026 and December 31, 2025 Issued and outstanding shares: 56,897 and 56,323 at June 30, 2026 and December 31, 2025, respectively	0	0
Additional paid-in capital	1,040,104	1,007,390
Accumulated other comprehensive gain (loss)	22	37
Accumulated deficit	(700,056)	(641,557)
Total stockholders’ equity	340,070	365,870
Total liabilities and stockholders’ equity	$ 479,352	$ 508,081