PROCEPT BioRobotics Corp. (PRCT)
NASDAQHealth CareMedical - DevicesSnapshot 2026-09-04
$22.76+6.50%
Close 2026-09-04 · 1-day change
NASDAQHealth CareMedical - DevicesSnapshot 2026-09-04
Broken: Primary pillar broken — Limit adjusted EBITDA loss to $17M-$30M in 2026: FY26 EBITDA loss guided to $30M-$35M vs $30M target.
PROCEPT BioRobotics aims for $390M-$410M revenue in 2026. It targets a stable 65% gross margin. Management plans to reduce adjusted EBITDA loss to between $17M and $30M. Recent revenue growth and margin levels support these goals.
The company is still loss-making with an operating loss of $32.61M in Q1 2026. Revenue growth and margin targets are challenging to sustain. The recent sharp stock selloff reflects elevated risk and uncertainty.
The market prices in about 33% revenue growth and values the stock roughly 26% below our fair value near $29. Our fair value aligns closely with the Street median, reflecting cautious optimism but acknowledging ongoing losses.
Breaks if: Adjusted EBITDA loss exceeds $30M in FY26
Breaks if: Gross margin falls below 60% in FY26
Breaks if: Annual revenue falls below $325M in 2026
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a turnaround story, as PRCT is currently loss-making but has stable management and is focused on improving its financials. The current thesis state is cautious, given recent mixed signals and a watchful approach due to performance concerns.
The market currently reflects a low fragility tier, suggesting that expectations are somewhat justified but there is a divergence from peers. PRCT trades at a premium compared to its industry, indicating that investors are factoring in some growth potential despite recent underperformance.
Management is on track to meet revenue and gross margin targets, with a slight improvement in adjusted EBITDA loss. However, recent financial performance has been weak, and there is a notable risk of missing future guidance, which could impact investor sentiment.
The most important moves since the prior daily snapshot.
Our read on the company is unchanged since the prior snapshot.
as of 2026-09-04
Review the evidence to watch, what would become a concern, and what would make it less concerning.
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Continue to grow total revenue to between $390 million and $410 million for full year 2026, representing 27% to 33% growth over prior year.
Stated as a priority in 2 of last 2 quarters. Revenue grew from $148.3 million in first half 2025 to $177.6 million in first half 2026, a 19.7% increase. Management reiterated full year 2026 revenue guidance of $390 million to $410 million, targeting 27% to 33% growth over 2025. The trajectory is delivering consistent growth aligned with stated guidance.
“The Company reiterates revenue for the full year 2026 to be in the range of $390 million to $410 million”
“The Company continues to expect revenue for the full year 2026 to be in the range of $390 million to $410 million”
The future of PRCT hinges on maintaining its revenue growth targets and managing costs effectively to reduce losses. Additionally, external factors such as the performance of sector bellwethers and overall economic conditions will play a significant role in shaping the company's trajectory.
In the next 1 to 3 years, PRCT's performance will depend on its ability to execute on its financial goals and navigate external risks. Not investment advice.