PROCEPT BioRobotics Corp. (PRCT)

NASDAQHealth CareMedical - DevicesSnapshot 2026-10-23

$19.96-0.35%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge PROCEPT BioRobotics Corp.’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
FY 2026 · Q4
Revenue	—	117.8M
EPS	—	-0.246
FY 2026 · Annual
Revenue	—	395.29M
EPS	—	-1.672
Gross margin	About 65%	—
FY 2027 · Annual
Revenue	—	476.37M
EPS	—	-1.152

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Limit adjusted EBITDA loss to $17M-$30M in 2026	Management plans to reduce adjusted EBITDA loss to between $17M and $30M.	Broken	Adjusted EBITDA loss exceeds $30M in FY26	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 2 of last 2 quarters. Adjusted EBITDA loss improved from $18.1 million in 2026-Q1 to $11.3 million in 2026-Q2. Management reiterated full year 2026 adjusted EBITDA loss guidance of $35 million to $30 million. The trajectory shows improving adjusted EBITDA loss consistent with the stated target range. Delivery assessment Oct 24, 2026
Maintain 65% gross margin in 2026	It targets a stable 65% gross margin.	Intact	Gross margin falls below 60% in FY26	Gross margin: 66.01% FY2026-Q2; GAAP. Published target: 65%. Target period is not explicitly aligned with this observation. Source published Aug 5, 202666.010921 percent · calculatedSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 1557fcba-ac80-4c74-be95-fad02529e3bf. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 2 of last 2 quarters. Gross margin was 65% in 2026-Q1 and improved slightly to 66% in 2026-Q2, consistent with management's reiterated full year 2026 guidance of approximately 65%. The trajectory shows stable to modestly improving margin performance aligned with stated goals. Delivery assessment Oct 24, 2026
Achieve $390M-$410M revenue in 2026	A primary condition in PROCEPT BioRobotics Corp.'s published investment case. The stated target is ~$400M.	Intact	Annual revenue falls below $325M in 2026	Revenue: $94.498M FY2026-Q2; GAAP. Published target: ~$400M. Target period is not explicitly aligned with this observation. Source published Aug 5, 202694,498,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 1557fcba-ac80-4c74-be95-fad02529e3bf. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context 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. Delivery assessment Oct 24, 2026

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$-1.15

$-0.89 → $-1.15 · observed estimates

FY2027 revenue$0.48B

$0.49B → $0.48B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$-0.89	$490,489,830	10 / 13
2026-07-25	$-0.89	$490,489,830	10 / 13
2026-07-26	$-0.89	$490,489,830	10 / 13
2026-07-27	$-0.89	$490,489,830	10 / 13
2026-07-28	$-0.89	$490,489,830	10 / 13
2026-07-29	$-0.90	$490,129,050	11 / 14
2026-07-30	$-0.89	$490,489,628	8 / 9
2026-07-31	$-0.90	$490,128,868	9 / 10
2026-08-01	$-0.90	$490,128,868	9 / 10
2026-08-02	$-0.90	$490,129,050	11 / 14
2026-08-03	$-0.90	$490,127,682	9 / 10
2026-08-04	$-0.90	$490,127,682	9 / 10
2026-08-05	$-0.90	$490,127,682	9 / 10
2026-08-06	$-0.90	$490,127,682	9 / 10
2026-08-07	$-1.11	$478,269,346	9 / 10
2026-08-08	$-1.15	$476,838,470	11 / 14
2026-08-09	$-1.15	$476,838,470	11 / 14
2026-08-10	$-1.11	$478,269,346	9 / 10
2026-08-12	$-1.15	$476,838,470	11 / 14
2026-08-13	$-1.11	$478,269,346	9 / 10
2026-08-14	$-1.11	$478,269,346	9 / 10
2026-08-15	$-1.11	$478,269,346	9 / 10
2026-08-16	$-1.11	$478,269,346	9 / 10
2026-08-17	$-1.11	$478,269,346	9 / 10
2026-08-18	$-1.11	$478,269,346	9 / 10
2026-08-19	$-1.11	$478,269,346	9 / 10
2026-08-20	$-1.14	$476,978,903	9 / 10
2026-08-21	$-1.14	$476,976,474	9 / 10
2026-08-22	$-1.14	$476,976,474	9 / 10
2026-08-23	$-1.14	$476,976,474	9 / 10
2026-08-24	$-1.14	$476,976,474	9 / 10
2026-08-25	$-1.14	$476,976,474	9 / 10
2026-08-26	$-1.14	$476,976,474	9 / 10
2026-08-27	$-1.14	$476,976,474	9 / 10
2026-08-28	$-1.14	$476,976,474	9 / 10
2026-08-29	$-1.14	$476,976,474	9 / 10
2026-08-30	$-1.14	$476,976,474	9 / 10
2026-08-31	$-1.14	$476,976,474	9 / 10
2026-09-01	$-1.14	$476,978,903	9 / 10
2026-09-02	$-1.14	$476,978,903	9 / 10
2026-09-03	$-1.14	$476,978,903	9 / 10
2026-09-04	$-1.14	$476,978,903	9 / 10
2026-09-05	$-1.14	$476,978,903	9 / 10
2026-09-06	$-1.14	$476,978,903	9 / 10
2026-09-07	$-1.14	$476,978,903	9 / 10
2026-09-08	$-1.14	$476,978,903	9 / 10
2026-09-09	$-1.14	$476,978,903	9 / 10
2026-09-10	$-1.14	$476,978,903	9 / 10
2026-09-11	$-1.14	$476,978,903	9 / 10
2026-09-12	$-1.14	$476,978,903	9 / 10
2026-09-13	$-1.14	$476,978,903	9 / 10
2026-09-14	$-1.14	$476,978,903	9 / 10
2026-09-15	$-1.14	$476,978,903	9 / 10
2026-09-16	$-1.14	$476,978,903	9 / 10
2026-09-17	$-1.14	$476,978,903	9 / 10
2026-09-18	$-1.14	$476,978,903	9 / 10
2026-09-19	$-1.14	$476,978,903	9 / 10
2026-09-20	$-1.14	$476,978,903	9 / 10
2026-09-21	$-1.14	$476,978,903	9 / 10
2026-09-22	$-1.14	$476,978,903	9 / 10
2026-09-23	$-1.14	$476,978,903	9 / 10
2026-09-24	$-1.14	$476,978,903	9 / 10
2026-09-25	$-1.14	$476,978,903	9 / 10
2026-09-26	$-1.14	$476,978,903	9 / 10
2026-09-27	$-1.14	$476,978,903	9 / 10
2026-09-28	$-1.14	$476,978,903	9 / 10
2026-09-29	$-1.14	$476,978,903	9 / 10
2026-09-30	$-1.14	$476,978,903	9 / 10
2026-10-01	$-1.14	$476,978,903	9 / 10
2026-10-02	$-1.14	$476,978,903	9 / 10
2026-10-03	$-1.14	$476,978,903	9 / 10
2026-10-04	$-1.14	$476,978,903	9 / 10
2026-10-05	$-1.14	$476,978,903	9 / 10
2026-10-06	$-1.13	$476,764,617	9 / 10
2026-10-07	$-1.15	$476,764,617	9 / 10
2026-10-08	$-1.15	$476,764,617	9 / 10
2026-10-09	$-1.15	$476,764,617	9 / 10
2026-10-10	$-1.15	$476,764,617	9 / 10
2026-10-11	$-1.15	$476,371,760	9 / 10
2026-10-12	$-1.15	$476,371,760	9 / 10
2026-10-13	$-1.15	$476,371,760	9 / 10
2026-10-14	$-1.15	$476,371,760	9 / 10
2026-10-15	$-1.15	$476,371,760	9 / 10
2026-10-16	$-1.15	$476,371,760	9 / 10
2026-10-17	$-1.15	$476,371,760	9 / 10
2026-10-18	$-1.15	$476,371,760	9 / 10
2026-10-19	$-1.15	$476,371,760	9 / 10
2026-10-20	$-1.15	$476,371,760	9 / 10
2026-10-21	$-1.15	$476,371,760	9 / 10
2026-10-22	$-1.15	$476,371,760	9 / 10
2026-10-23	$-1.15	$476,371,760	9 / 10
2026-10-24	$-1.15	$476,371,760	9 / 10

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	7	4	1
2026-06-01	7	5	1
2026-07-01	7	7	1
2026-08-01	6	9	1
2026-09-01	4	9	1
2026-10-01	5	9	1

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 5 Buy / Strong Buy · 9 Hold · 1 Sell / Strong Sell

0 upgrades0 downgrades0 maintains

Recent actions · Sep 25–Oct 24 · 0 recorded

Price-target changes

30 days

○ Previous · ● Latest · common dollar scale

BarclaysOct 6

$30.00New observation · no comparable prior

$0$16.50$33.00

0 raises · 0 cuts · 0 unchanged · 1 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Limit adjusted EBITDA loss to $17M-$30M in 2026Published status: Broken
Maintain 65% gross margin in 2026Gross margin: 66.01%
Achieve $390M-$410M revenue in 2026Revenue: $94.498M

Next proof point

Nov 4, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

2.7%Typical daily move · historical

Downside history

-54.8%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

PROCEPT BioRobotics Corp. outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

This is a high-growth medical technology business with a loss-making profile, rather than an established profit compounder. The multi-year view is on watch: management is meeting several stated goals, but recent financial performance has lagged its industry cohort.

What's priced into PROCEPT BioRobotics Corp.

PRCT trades at a meaningful premium to peers, and the valuation model shows a negative expectations gap, meaning expectations appear demanding relative to the evidence. The pricing tag is justified and no fragility signals were flagged, but the premium leaves limited room for execution to weaken.

What the fundamentals likely do

Near term, revenue growth and gross margins are tracking management’s 2026 goals, while adjusted EBITDA losses improved from the first quarter to the second. The company remains loss-making, and recent performance is weak; the next results matter because the evidence points to elevated risk of a miss.

What PROCEPT BioRobotics Corp. hinges on

The near-term test is whether management maintains its reaffirmed 2026 guidance and continues to narrow adjusted EBITDA losses. A guidance cut or a weaker jobs backdrop would add pressure, while continued strong results and guidance from large healthcare peers could support sector momentum.