Form 8-K

8-K — PROCEPT BioRobotics Corp

Accession: 0001588978-26-000028

Filed: 2026-08-04

Period: 2026-08-04

CIK: 0001588978

SIC: 3841 (SURGICAL & MEDICAL INSTRUMENTS & APPARATUS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — prct-20260804.htm (Primary)

EX-99.1 (prct_q22026earningsrelease.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: prct-20260804.htm · Sequence: 1

prct-20260804

0001588978false00015889782026-08-042026-08-04

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 4, 2026

PROCEPT BIOROBOTICS CORPORATION

(Exact name of registrant as specified in its charter)

Delaware 001-40797 26-0199180

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification Number)

150 Baytech Drive

San Jose, California 95134

(Address of principal executive offices, including Zip Code)

Registrant’s telephone number, including area code: (650) 232-7200

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange

on which registered

Common Stock, $0.00001 par value per share PRCT The Nasdaq Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

On August 4, 2026, PROCEPT BioRobotics Corporation (the "Company") issued a press release announcing its financial results for the quarter ended June 30, 2026. The full text of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information in this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, nor shall it be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

Exhibit No. Description

99.1

Press Release of PROCEPT BioRobotics Corporation, dated August 4, 2026

104 Cover Page Interactive Data File, formatted in Inline XBRL.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

PROCEPT BIOROBOTICS CORPORATION

Date: August 4, 2026

By:

/s/ Alaleh Nouri

Alaleh Nouri

Chief Legal Officer and Secretary

EX-99.1

Filename: prct_q22026earningsrelease.htm · Sequence: 2

Document

PROCEPT BioRobotics Reports Second Quarter 2026 Financial Results

SAN JOSE, Calif., August 4, 2026 -- PROCEPT BioRobotics® Corporation (Nasdaq: PRCT) (the “Company”), a surgical robotics company focused on advancing patient care by developing transformative solutions in urology, today reported unaudited financial results for the quarter ended June 30, 2026.

"This was an important quarter for PROCEPT as we continued to strengthen the foundation of our business for long-term growth," said Larry Wood, Chief Executive Officer. "We delivered 19% revenue growth, achieved record HYDROS placements, demonstrated continued pricing discipline, executed a more robust replacement strategy and completed the commercial realignment that positions us to execute more effectively going forward. Importantly, HYDROS accounts continue to perform well- procedures in the second quarter of 2026 were significantly higher per HYDROS account as compared to our legacy Aquabeam systems.”

Wood continued, "We also reached several important strategic milestones during the quarter, including completing enrollment in our WATER IV prostate cancer study and receiving a strengthened recommendation for Aquablation therapy in the updated American Urological Association guidelines. As we enter the second half of the year, we remain focused on execution and confident in our long-term opportunity to advance the standard of care in prostate disease."

Second Quarter 2026 Financial Results

•Total revenue of $94.5 million for the second quarter of 2026, an increase of 19% compared to the prior year period in 2025

•U.S. procedures over 13,100 for the second quarter of 2026, an increase of approximately 21% compared to the prior year period

•Delivered 65 U.S. HYDROS® systems, which included 14 replacement systems. U.S. average selling prices were approximately $495,000 for new HYDROS systems

•U.S. handpieces sold as percent of U.S. procedures in the second quarter of 2026 was approximately 98%

•Second quarter of 2026 handpiece average selling price of approximately $3,550 increased 11% compared to the second quarter of 2025

•International revenue of $11.1 million for the second quarter of 2026, an increase of 15% compared to the prior year period

•Gross margin of 66% for the second quarter of 2026, compared to 65% in the prior year period and 65% in the first quarter of 2026

Total revenue for the second quarter of 2026 was $94.5 million, an increase of 19% compared to the prior year period. The increase was driven by increased U.S. handpiece and system revenue and international revenue. U.S. revenue was $83.4 million, representing growth of 20% compared to the prior year period. U.S. handpiece and consumable revenue for the second quarter of 2026 was $48.4 million, an increase of 12% compared to the prior year period. U.S. system revenue for the second quarter of 2026 was $29.1 million, an increase of 32% compared to the prior year period. International revenue was $11.1 million for the quarter, an increase of 15% compared to the prior year period.

Gross margin for the second quarter of 2026 was 66% compared to 65% in the prior year period. Gross margin increase in the second quarter was primarily driven by increased U.S. system and consumable pricing; and a $2.9 million tariff refund.

Operating expenses in the second quarter of 2026 were $89.8 million, compared with $73.9 million in the prior year period. The increase in operating expenses reflects continued investment in our commercial organization, innovation across our BPH platform, as well as costs associated with completing enrollment and advancing follow-up in our WATER IV Prostate Cancer trial.

Net loss was $26.9 million for the second quarter of 2026, compared to a loss of $19.6 million in the prior year period. Adjusted EBITDA* was a loss of $11.3 million for the second quarter of 2026, compared to a loss of $8.0 million in the prior year period.

Cash, cash equivalents and restricted cash balances as of June 30, 2026, totaled approximately $231 million.

The Company remains committed to advancing the standard of care in urology through continued innovation, combining AI, robotics, and real-time imaging to enable personalized, precise, and durable treatment for the millions of men affected by benign prostatic hyperplasia (BPH).

Full Year 2026 Financial Guidance

•The Company reiterates revenue for the full year 2026 to be in the range of $390 million to $410 million, which represents growth of 27% to 33% compared to the prior year period

•The Company now expects full year 2026 U.S. procedure volume to be 54,000-56,000 with growth to be in the range of 25% to 29% compared to the prior year period

•The Company reiterates full year 2026 gross margin to be approximately 65%

•The Company now expects full year 2026 adjusted EBITDA* loss to be in the range of $35 million to $30 million

*Adjusted EBITDA is a financial measure that is not prepared in accordance with generally accepted accounting principles in the United States (GAAP). For more information about the Company’s use of non-GAAP financial measures, please see the section below titled “Use of Non-GAAP Financial Measures (Unaudited).

Webcast and Conference Call Information

PROCEPT BioRobotics will host a conference call to discuss the second quarter 2026 financial results on Tuesday, August 4, 2026, at 4:30 p.m. Eastern Time.

Investors interested in listening to the conference call may do so by following one of the links below:

•Webcast link for interested listeners:

◦https://edge.media-server.com/mmc/p/8fznodv2/

•Dial-in registration for sell-side research analysts:

◦https://register-conf.media-server.com/register/BI52750114763b4e46862d9605fe2f2b01

About PROCEPT BioRobotics Corporation

PROCEPT BioRobotics is a surgical robotics company focused on advancing patient care by developing transformative solutions in urology. PROCEPT BioRobotics manufactures the AQUABEAM® and HYDROS Robotic Systems. The HYDROS Robotic System is the only AI-powered, robotic technology that delivers Aquablation therapy. PROCEPT BioRobotics designed Aquablation therapy to deliver effective, safe, and durable outcomes for males suffering from lower urinary tract symptoms or LUTS, due to BPH that are independent of prostate size and shape or surgeon experience. BPH is the most common prostate disease and impacts approximately 40 million men in the United States. The Company has developed a significant and growing body of clinical evidence with approximately 250 peer-reviewed publications, supporting the benefits and clinical advantages of Aquablation therapy.

Use of Non-GAAP Financial Measures (Unaudited)

This press release references Adjusted EBITDA, a financial measure that is not prepared in accordance with generally accepted accounting principles in the United States (GAAP). The Company defines Adjusted EBITDA as earnings before interest expense, taxes, depreciation and amortization and stock-based compensation. Non-GAAP financial measures are not a substitute for or superior to measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to any other performance measures derived in accordance with GAAP.

The Company believes that presenting Adjusted EBITDA provides useful supplemental information to investors about the Company in understanding and evaluating its operating results, enhancing the overall understanding of its past performance and future prospects, and allowing for greater transparency with respect to key financial metrics used by its management in financial and operational decision making. However, there are a number of limitations related to the use of non-GAAP measures and their nearest GAAP equivalents. For example, other companies may calculate non-GAAP measures differently, or may use other measures to calculate their financial performance, and therefore any non-GAAP measures the Company uses may not be directly comparable to similarly titled measures of other companies.

Forward Looking Statements

This release contains forward‐looking statements within the meaning of federal securities laws, including with respect to the Company’s projected financial performance for full year 2026, statements regarding the potential utilities, values, benefits and advantages of Aquablation therapy performed using PROCEPT BioRobotics’ products, including AquaBeam or Hydros Robotic Systems, which involve risks and uncertainties that could cause the actual results to differ materially from the anticipated results and expectations expressed in these forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are only predictions based on the Company’s current expectations, estimates, and assumptions, valid only as of the date they are made, and subject to risks and uncertainties, some of which the Company is not currently aware. Forward-looking statements may include statements regarding financial guidance, market opportunity and penetration, procedure growth, the Company’s possible or assumed future results of operations, including descriptions of the Company’s revenues, gross margins, profitability, operating expenses, installed base growth, commercial momentum and overall business strategy. Forward‐looking statements should not be read as a guarantee of future performance or results and may not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. These forward‐looking statements are based on the Company’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward‐looking statements as a result of these risks and uncertainties. These risks and uncertainties are described more fully in the section titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including the Company’s annual report on Form 10-K filed with the SEC on

February 26, 2026, and subsequent quarterly reports on Form 10-Q. PROCEPT BioRobotics does not undertake any obligation to update forward‐looking statements and expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward‐looking statements contained herein. These forward-looking statements should not be relied upon as representing PROCEPT BioRobotics’ views as of any date subsequent to the date of this press release.

Important Safety Information

All surgical treatments have inherent and associated side effects. For a list of potential side effects visit https://aquablation.com/safety-information/

Investor Contact:

Marissa Bych

Managing Director

Gilmartin Group LLC

Marissa@gilmartinir.com

PROCEPT BioRobotics Corporation

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited, in thousands, except per share data)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

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 income taxes

(26,767)

(19,442)

(58,448)

(44,227)

Provision for income taxes

136

Net loss

(26,861)

(19,578)

(58,499)

(44,316)

Net loss per share, basic and diluted

(0.47)

(0.35)

(1.03)

(0.80)

Weighted-average common shares used to

Compute net loss per share attributable to

Common shareholders, basic and diluted

57,067

55,445

56,790

55,182

PROCEPT BioRobotics Corporation

RECONCILIATION OF GAAP NET LOSS TO ADJUSTED EBITDA

(Unaudited, in thousands)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

Net loss

(26,861)

(19,578)

(58,499)

(44,316)

Depreciation and amortization expense

1,989

1,588

3,724

3,063

Stock-based compensation expense

14,534

12,163

27,606

22,271

Interest (income) and interest expense, net

(992)

(2,167)

(2,284)

(4,821)

Adjusted EBITDA

(11,330)

(7,994)

(29,453)

(23,803)

PROCEPT BioRobotics Corporation

RECONCILIATION OF GAAP NET LOSS TO ADJUSTED 2026 EBITDA Guidance

(Unaudited, in thousands)

For the Year Ending December 31, 2026

LOW

HIGH

Net loss

(96,000)

(91,000)

Depreciation and amortization expense

7,800

Stock-based compensation expense

58,000

Interest (income) and interest expense, net

(4,800)

Adjusted EBITDA

(35,000)

(30,000)

PROCEPT BioRobotics Corporation

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited, in thousands)

June 30, 2026

December 31, 2025

Assets

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

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

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable

15,069

17,285

Accrued compensation

20,443

23,175

Deferred revenue

14,088

13,048

Operating leases, 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 leases, non-current

23,280

24,654

Other non-current liabilities

147

Total liabilities

139,282

142,211

Stockholders’ equity:

Additional paid-in capital

1,040,104

1,007,390

Accumulated other comprehensive gain

Accumulated deficit

(700,056)

(641,557)

Total stockholders’ equity

340,070

365,870

Total liabilities and stockholders’ equity

479,352

508,081

PROCEPT BioRobotics Corporation

REVENUE BY TYPE AND GEOGRAPHY

(Unaudited, in thousands)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

U.S.

System sales and rentals

29,066

22,082

52,452

40,769

Handpieces and other consumables

48,368

43,130

91,386

81,141

Service

5,986

4,373

11,600

7,968

Total U.S. revenue

83,420

69,585

155,438

129,878

Outside of U.S.

System sales and rentals

3,400

2,945

7,253

6,798

Handpieces and other consumables

6,828

6,002

13,201

10,479

Service

850

650

1,739

1,189

Total outside of U.S. revenue

11,078

9,597

22,193

18,466

Total revenue

94,498

79,182

177,631

148,344

PROCEPT BioRobotics Corporation

QUARTERLY U.S. INSTALL BASE AND PROCEDURES

(Unaudited, in thousands)

Q1'24

Q2'24

Q3'24

Q4'24

Q1'25

Q2'25

Q3'25

Q4'25

Q1'26

Q2'26

Q3'26

Q4'26

FY 24

FY 25

FY 26

U.S. Install Base

Beginning install base

315

354

400

445

505

547

595

653

718

765

315

505

Systems placed

190

213

Ending install base

354

400

445

505

547

595

653

718

765

816

—

505

718

U.S Procedures (000)

6.1

7.0

7.4

7.2

9.3

10.8

11.0

12.2

13.1

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- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

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dei_TradingSymbol

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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