PROCEPT BioRobotics Business Summary

PROCEPT BioRobotics employs a razor-and-blade revenue model focused on its proprietary Aquablation therapy for Benign Prostatic Hyperplasia (BPH). The company generates capital revenue through the sale of its AquaBeam and next-generation HYDROS Robotic Systems—the latter of which features AI-driven FirstAssist software for automated treatment planning—supplemented by high-margin recurring revenue from single-use disposable handpieces and service agreements. With U.S. operations driving the vast majority of the company's $410M–$430M fiscal year 2026 revenue guidance, the business is segmented into capital sales, consumables, and international expansion. PROCEPT competes directly with Teleflex (UroLift), Boston Scientific (Rezum), and Olympus (iTind), positioning itself as the technologically superior, heat-free robotic alternative capable of treating any prostate size or shape with standardized, surgeon-independent outcomes. The company is led by President and CEO Larry L. Wood, who assumed the role in September 2025 after nearly 40 years at Edwards Lifesciences, where he was instrumental in the global success of the TAVR business. He is supported by Executive VP and CFO Kevin Waters, who brings extensive financial leadership experience from Accuray and Conceptus. PROCEPT was co-founded by Dr. Nikolai Aljuri and Dr. Rodney Perkins, both of whom possess deep backgrounds in medical device innovation and engineering. The board of directors is notably anchored by surgical robotics pioneer Dr. Frederic Moll, founder of Intuitive Surgical, and Thomas Prescott, former CEO of Align Technology, providing a high-pedigree governance structure focused on scaling disruptive medical technologies into global standards of care.