PROCEPT BioRobotics
San Jose, California surgical robotics company whose AQUABEAM and HYDROS systems deliver Aquablation therapy for benign prostatic hyperplasia.
PROCEPT BioRobotics is a commercial-stage surgical robotics company in urology, headquartered in San Jose, California. Its AQUABEAM and HYDROS robotic systems deliver Aquablation therapy, an ultrasound-guided, robotically controlled waterjet resection of prostate tissue to treat benign prostatic hyperplasia. The FDA granted 510(k) clearance to HYDROS in August 2024, a next-generation platform with FirstAssist AI treatment planning, when the company had more than 400 systems installed in the US, and in March 2026 PROCEPT launched HYDROS in the United Kingdom as its first international market for the system. For the second quarter of 2026 it reported revenue of $94.5 million, up 19% from a year earlier, more than 13,100 US procedures and a US installed base of 816 systems. Larry Wood is chief executive. PROCEPT went public on Nasdaq under PRCT in September 2021, closing an upsized initial public offering of 7,539,400 shares at $25.00, including the underwriters' full option, for gross proceeds of approximately $188.5 million, with BofA Securities and Goldman Sachs as joint lead bookrunners. In August 2023 it priced an upsized follow-on offering of 4,422,169 shares at $33.92 for gross proceeds of approximately $150 million, and in October 2024 it priced an offering of 1,923,076 shares at $91.00 for gross proceeds of approximately $175 million.
- Latest funding
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- Total funding
- $189M
- Latest valuation
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- Founded
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- Country
- United States
- Oct 29, 2024Follow-on offering—
- Aug 1, 2023Follow-on offering—
- Sep 21, 2021IPO$189M