Procept BioRobotics Shares Are Higher Today, CEO Touts 'Strong Surgeon Interest'
Portfolio Pulse from Lekha Gupta
Procept BioRobotics Corp (NASDAQ:PRCT) shares rose after announcing preliminary Q4 FY23 revenues exceeding consensus estimates. The company expects Q4 revenues of $43.3-$43.6 million, with U.S. revenue around $40 million and international revenue at $3.3 million. FY23 revenues are projected to be $135.9-$136.2 million, indicating an 81%-82% Y/Y growth. CEO Reza Zadno highlighted strong surgeon interest in Aquablation Therapy and the company's position for continued revenue growth. Official Q4 and FY23 results will be released on Feb. 27, 2024. PRCT shares increased by 7.06% to $45.19.
January 09, 2024 | 4:59 pm
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POSITIVE IMPACT
Procept BioRobotics Corp's stock rose after reporting preliminary Q4 FY23 revenues that surpassed expectations, with significant year-over-year growth and positive commentary from the CEO about future prospects.
The positive preliminary Q4 FY23 revenue figures and the optimistic outlook provided by the CEO are likely to instill confidence in investors, leading to a short-term positive impact on PRCT's stock price. The reported growth and the anticipation of continued revenue increases due to product adoption suggest strong fundamentals, which typically contribute to stock appreciation.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100