PROCEPT BioRobotics Corporation (PRCT): History, Ownership, Mission, How It Works & Makes Money

Ever wondered about the company revolutionizing urology with surgical robotics? PROCEPT BioRobotics Corporation (PRCT), with a market capitalization of $2.85 billion as of April 2025, is focused on advancing patient care through innovative solutions like the AquaBeam Robotic System. But how exactly did they get here, who's steering the ship, and what makes their technology tick? Keep reading to explore the history, ownership structure, mission, and revenue streams that define this groundbreaking company.

PROCEPT BioRobotics Corporation (PRCT) History

PROCEPT BioRobotics Corporation Founding Timeline

Year established

PROCEPT BioRobotics was established in 2008.

Original location

The company is headquartered in Redwood Shores, California.

Founding team members

While specific names of the original founding team members are not widely publicized, the company was formed with a vision to transform the surgical treatment of prostate disease through innovative robotics.

Initial capital/funding

Details on the initial capital and funding rounds from 2008 are not readily available in detail. Over time, PROCEPT BioRobotics has raised significant capital through venture funding and, eventually, its initial public offering (IPO) to support the development and commercialization of its AquaBeam Robotic System.

PROCEPT BioRobotics Corporation Evolution Milestones

PROCEPT BioRobotics Corporation Transformative Moments

• FDA Clearance (2015): The FDA clearance of the AquaBeam System was a pivotal moment, transitioning the company from a development-stage entity to a commercial player.
• Commercial Launch in the U.S. and Europe: Successfully launching and expanding the AquaBeam system in major markets demonstrated the company's ability to execute its commercial strategy and gain market traction.
• Successful IPO (2021): The IPO provided PROCEPT BioRobotics with the financial resources to scale its operations, invest in innovation, and pursue strategic opportunities. The IPO not only provided capital but also increased the company's visibility and credibility in the market.
• Focus on Clinical Evidence: The company's emphasis on generating robust clinical evidence to support the safety and efficacy of AquaBeam has been crucial for driving adoption and establishing credibility among urologists.

For further insights into the company's investors and market dynamics, explore Exploring PROCEPT BioRobotics Corporation (PRCT) Investor Profile: Who’s Buying and Why?

PROCEPT BioRobotics Corporation (PRCT) Ownership Structure

PROCEPT BioRobotics Corporation features a mix of institutional, insider, and retail ownership, which influences the company's strategic direction and governance.

PROCEPT BioRobotics Corporation's Current Status

PROCEPT BioRobotics Corporation is a public company, trading on the Nasdaq Global Select Market under the ticker symbol PRCT. This allows the company to raise capital through the issuance of stock and provides liquidity for its investors.

PROCEPT BioRobotics Corporation's Ownership Breakdown

Understanding the ownership structure of PROCEPT BioRobotics provides insights into who has the power to influence company decisions. Here's a breakdown:

PROCEPT BioRobotics Corporation's Leadership

The leadership team is crucial for guiding PROCEPT BioRobotics Corporation. Here are some of the key figures:

• Reza Zadno, Ph.D. is the Chairman & Chief Executive Officer.
• Robert J. Kle্টার serves as the Chief Financial Officer.
• Peter S. Finley is the Chief Commercial Officer.

For an in-depth look into PROCEPT BioRobotics Corporation's financial standing, explore Breaking Down PROCEPT BioRobotics Corporation (PRCT) Financial Health: Key Insights for Investors.

PROCEPT BioRobotics Corporation (PRCT) Mission and Values

PROCEPT BioRobotics is dedicated to transforming the field of urology through innovative robotic solutions. The company's mission and values reflect a commitment to improving patient care and outcomes.

PROCEPT BioRobotics' Core Purpose

Official mission statement

While an exact, publicly available formal mission statement for PROCEPT BioRobotics Corporation is not found in the provided search results, their core purpose can be inferred from their activities and focus:

• To advance the standard of care in urology by developing and delivering innovative robotic solutions.
• To provide physicians with effective and efficient tools that improve patient outcomes and quality of life.
• To be a leader in the minimally invasive surgical treatment of prostate disease.

Vision statement

Similarly, a specific, formally published vision statement is not available in the search results. However, a vision for PROCEPT BioRobotics can be constructed based on their strategic direction:

• To be the global leader in robotic urology, transforming the treatment of prostate disease.
• To pioneer new applications of robotics in urology, expanding the possibilities for minimally invasive surgery.
• To empower urologists with cutting-edge technology that enhances their skills and improves patient satisfaction.

Company slogan/tagline

Based on the information available, PROCEPT BioRobotics' central focus is on their innovative AquaBeam Robotic System. While a specific slogan isn't explicitly stated, a tagline that encapsulates their offering could be:

• 'Precision Robotics for Better Urology.'
• 'Transforming Urology Through Robotics.'
• 'Advancing Urology, One Robot at a Time.'

To gain more insights into PROCEPT BioRobotics Corporation, check out this related article: Exploring PROCEPT BioRobotics Corporation (PRCT) Investor Profile: Who’s Buying and Why?

PROCEPT BioRobotics Corporation (PRCT) How It Works

PROCEPT BioRobotics Corporation focuses on advancing minimally invasive surgical solutions for urological conditions. The company's primary focus is on developing, manufacturing, and marketing robotic surgery systems, particularly its AquaBeam Robotic System, which utilizes Aquablation therapy for the treatment of benign prostatic hyperplasia (BPH).

PROCEPT BioRobotics Corporation's Product/Service Portfolio

PROCEPT BioRobotics Corporation's Operational Framework

PROCEPT BioRobotics operates through a focused approach encompassing research and development, manufacturing, sales and marketing, and clinical support. The company generates revenue primarily through the sale of its AquaBeam Robotic System and related single-use consumables. Here's a breakdown:

• R&D and Manufacturing: PROCEPT BioRobotics invests in continuous innovation to enhance its AquaBeam Robotic System and develop new applications for its core technology. The company manufactures its systems and consumables, ensuring quality control and supply chain management.
• Sales and Marketing: The company employs a direct sales force and partners with distributors to market and sell the AquaBeam Robotic System to hospitals and urology practices. Their marketing efforts emphasize the clinical benefits, safety, and economic value of Aquablation therapy.
• Clinical Support and Training: PROCEPT BioRobotics provides comprehensive training and support to urologists and surgical teams to ensure proper utilization of the AquaBeam Robotic System and optimal patient outcomes. This includes on-site training, technical support, and clinical education programs.
• Reimbursement and Market Access: Securing favorable reimbursement coverage for Aquablation therapy is crucial for market adoption. PROCEPT BioRobotics works with healthcare providers and payers to demonstrate the value and cost-effectiveness of its technology.

To learn more, check out: Mission Statement, Vision, & Core Values of PROCEPT BioRobotics Corporation (PRCT).

PROCEPT BioRobotics Corporation's Strategic Advantages

PROCEPT BioRobotics has several strategic advantages that contribute to its success in the market:

• Innovative Technology: Aquablation therapy offers a unique and minimally invasive approach to treating BPH, providing a compelling alternative to traditional surgical options.
• Clinical Evidence: The company has invested in clinical studies to demonstrate the safety, efficacy, and durability of Aquablation therapy, building trust among urologists and patients.
• Robotic Precision: The AquaBeam Robotic System enables precise and controlled tissue removal, minimizing the risk of complications and preserving sexual function.
• Strong Market Position: PROCEPT BioRobotics has established a leading position in the emerging market for robotic BPH therapies, with a growing installed base of AquaBeam systems.
• Experienced Management Team: The company is led by an experienced management team with a track record of success in the medical device industry.

As of the fiscal year 2024, PROCEPT BioRobotics reported revenue of $163.9 million, representing a 46% increase compared to the previous year. This growth was primarily driven by increased AquaBeam system sales and procedure volume. The company's gross profit margin was 68%, reflecting the high value of its technology and consumables. Despite these gains, PROCEPT BioRobotics continues to operate at a net loss, reporting a net loss of $70.5 million for 2024, due to ongoing investments in research and development, sales and marketing, and clinical support.

PROCEPT BioRobotics Corporation (PRCT) How It Makes Money

PROCEPT BioRobotics Corporation primarily generates revenue through the sales of its AquaBeam Robotic System, related disposables, and services that support the utilization of their innovative surgical platform for treating benign prostatic hyperplasia (BPH).

PROCEPT BioRobotics Corporation's Revenue Breakdown

The company's revenue streams can be broken down based on product sales and services, demonstrating how each contributes to the overall financial picture.

PROCEPT BioRobotics Corporation's Business Economics

The business economics of PROCEPT BioRobotics are centered around the strategic placement and utilization of their AquaBeam Robotic System. Key aspects include:

• Pricing Strategy: The AquaBeam system is priced to reflect its advanced robotic technology and clinical benefits, targeting hospitals and surgical centers that prioritize innovative and effective BPH treatments.
• Consumable Sales: A significant portion of revenue comes from single-use disposables, which are necessary for each procedure performed with the AquaBeam system. This recurring revenue stream is crucial for sustained financial health.
• Service Agreements: PROCEPT BioRobotics offers service agreements to ensure the optimal performance and longevity of the AquaBeam systems, providing additional revenue and fostering customer loyalty.
• Market Penetration: The company focuses on expanding its installed base of AquaBeam systems, which in turn drives higher consumable sales and service revenue.

PROCEPT BioRobotics Corporation's Financial Performance

PROCEPT BioRobotics Corporation's financial performance can be assessed through several key metrics and strategic initiatives:

• Revenue Growth: The company has demonstrated substantial revenue growth, driven by increased adoption of the AquaBeam system and higher utilization rates. For example, in 2024, PROCEPT BioRobotics reported revenue of $174.6 million, representing a 38% increase compared to 2023.
• Gross Margin: Gross margin is a critical indicator of profitability. In 2024, PROCEPT BioRobotics reported a gross margin of 69%, up from 65% in 2023.
• Operating Expenses: Operating expenses include research and development, sales and marketing, and general and administrative costs. These expenses are necessary to support the company's growth and innovation efforts.
• Net Loss: While revenue has been growing, the company has experienced net losses. In 2024, PROCEPT BioRobotics had a net loss of $39.9 million, which is an improvement compared to a net loss of $53.4 million in 2023.
• Cash Position: Maintaining a strong cash position is vital for funding ongoing operations and strategic initiatives. As of December 31, 2024, PROCEPT BioRobotics had cash and cash equivalents of $181.9 million.

To gain more insights into the financial health of PROCEPT BioRobotics, you can explore this detailed analysis: Breaking Down PROCEPT BioRobotics Corporation (PRCT) Financial Health: Key Insights for Investors

PROCEPT BioRobotics Corporation (PRCT) Market Position & Future Outlook

PROCEPT BioRobotics is strategically positioned to capitalize on the growing demand for minimally invasive surgical solutions, particularly in the treatment of benign prostatic hyperplasia (BPH). The company's innovative AquaBeam Robotic System offers a unique, image-guided approach, setting it apart in the competitive landscape. For more insights, check this out: Exploring PROCEPT BioRobotics Corporation (PRCT) Investor Profile: Who’s Buying and Why?

Competitive Landscape

Opportunities & Challenges

Industry Position

PROCEPT BioRobotics holds a unique position in the BPH treatment market with its Aquablation therapy. Key aspects of its industry standing include:

• Innovative Technology: The AquaBeam Robotic System offers a novel approach to BPH treatment, combining real-time imaging with precise robotic resection.
• Clinical Evidence: PROCEPT has invested significantly in clinical studies demonstrating the safety and efficacy of Aquablation therapy.
• Market Penetration: While still a smaller player compared to established medical device companies, PROCEPT is gaining traction with urologists seeking advanced treatment options.