PROCEPT BioRobotics Corporation (NASDAQ: PRCT) shares surged 5.24% in the after-hours trading session on Tuesday, following the company's fourth quarter 2024 earnings report. The medical device company reported strong revenue growth and a narrower-than-expected loss for the quarter.
According to the earnings report, PROCEPT BioRobotics posted revenue of $68.24 million for the fourth quarter, a 56.6% increase compared to the same period last year. This figure beat analysts' consensus estimate of $66.78 million. The company's adjusted net loss per share of $0.35 also came in slightly better than the expected loss of $0.33 per share.
The solid financial performance and better-than-anticipated results suggest that PROCEPT BioRobotics' products and services are gaining traction in the market. Investors reacted positively to the news, driving the stock higher in the after-hours session as they anticipate continued growth and profitability for the company in the future.
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