PROCEPT BioRobotics (PRCT) stock surged 5.07% in intraday trading on Wednesday, following the company's impressive Q4 2024 earnings report that highlighted strong revenue growth and the successful launch of its new AI-enabled Hydro robotic system.
The company reported a 57% year-over-year increase in total revenue for Q4 2024, reaching $68.2 million, driven by increased sales of its Aquabeam and Hydro robotic systems, as well as a surge in procedures performed. Full-year 2024 revenue grew by an impressive 65% compared to the previous year.
A key driver of PROCEPT's growth was the introduction of the Hydro robotic system, featuring advanced AI and ultrasound integration, which has been well-received in the market. The company achieved a 60% growth in its US installed base, with 505 systems by the end of 2024, and the Hydro system accounted for 95% of new system sales in Q4.
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