PROCEPT BioRobotics Projects 2024 Revenue Of $222.5M-$223M Compared To Prior Guidance Of $217M And Consensus Of 217.064M
Portfolio Pulse from Benzinga Newsdesk
PROCEPT BioRobotics has updated its 2024 financial guidance, projecting higher revenue and gross margin than previously expected. The company now anticipates revenue between $222.5M and $223M, a significant increase from the prior $217M guidance. Gross margin is expected to be around 61%, up from 59%. Operating expenses remain unchanged, and the adjusted EBITDA loss is projected to be $60M, an improvement from the previous $67.5M loss estimate.
October 28, 2024 | 11:05 am
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PROCEPT BioRobotics has increased its 2024 revenue guidance to $222.5M-$223M, surpassing previous guidance and consensus estimates. The company also improved its gross margin forecast to 61% and reduced its expected adjusted EBITDA loss to $60M.
The updated guidance indicates stronger-than-expected financial performance, with increased revenue and gross margin projections. The reduction in expected EBITDA loss further suggests improved operational efficiency. These factors are likely to positively impact the stock price in the short term.
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