$PRCT
PROCEPT BioRobotics Corp

2023 Q3 Form 10-Q Financial Statement

#000158897823000022 Filed on July 28, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $35.10M $33.10M
YoY Change 72.5% 98.33%
Cost Of Revenue $16.23M $14.68M
YoY Change 60.39% 78.85%
Gross Profit $18.87M $18.43M
YoY Change 84.48% 117.17%
Gross Profit Margin 53.77% 55.67%
Selling, General & Admin $32.88M $32.44M
YoY Change 32.84% 65.05%
% of Gross Profit 174.22% 176.03%
Research & Development $11.60M $11.61M
YoY Change 52.99% 73.17%
% of Gross Profit 61.46% 63.01%
Depreciation & Amortization $1.049M $642.0K
YoY Change 49.22% -10.46%
% of Gross Profit 5.56% 3.48%
Operating Expenses $44.48M $44.05M
YoY Change 37.56% 67.12%
Operating Profit -$25.61M -$25.63M
YoY Change 15.85% 43.36%
Interest Expense $1.019M $340.0K
YoY Change -29.97% -76.41%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$24.62M -$25.29M
YoY Change 8.88% 31.8%
Income Tax
% Of Pretax Income
Net Earnings -$24.62M -$25.29M
YoY Change 8.88% 31.8%
Net Earnings / Revenue -70.14% -76.38%
Basic Earnings Per Share -$0.51 -$0.56
Diluted Earnings Per Share -$0.51 -$0.56
COMMON SHARES
Basic Shares Outstanding 45.28M shares 45.05M shares
Diluted Shares Outstanding 48.31M shares 45.16M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $287.1M $149.7M
YoY Change 15.2% -44.52%
Cash & Equivalents $287.1M $149.7M
Short-Term Investments
Other Short-Term Assets $4.758M $4.516M
YoY Change 5.29% 16.99%
Inventory $42.20M $42.64M
Prepaid Expenses
Receivables $34.62M $33.17M
Other Receivables $0.00 $0.00
Total Short-Term Assets $368.7M $230.0M
YoY Change 27.6% -22.9%
LONG-TERM ASSETS
Property, Plant & Equipment $27.03M $16.36M
YoY Change 427.97% 272.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $415.0K $131.0K
YoY Change 105.45% -56.62%
Total Long-Term Assets $52.46M $42.43M
YoY Change 49.43% 237.01%
TOTAL ASSETS
Total Short-Term Assets $368.7M $230.0M
Total Long-Term Assets $52.46M $42.43M
Total Assets $421.1M $272.4M
YoY Change 29.96% -12.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.60M $10.04M
YoY Change 114.77% 200.3%
Accrued Expenses $14.97M $12.30M
YoY Change 17.32% 34.25%
Deferred Revenue $5.007M $4.717M
YoY Change 113.79% 153.19%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $41.36M $35.95M
YoY Change 51.16% 92.91%
LONG-TERM LIABILITIES
Long-Term Debt $51.31M $51.28M
YoY Change 1.21% 1.52%
Other Long-Term Liabilities $29.11M $29.32M
YoY Change 14453.0% 14562.0%
Total Long-Term Liabilities $51.31M $51.28M
YoY Change 0.82% 1.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $41.36M $35.95M
Total Long-Term Liabilities $51.31M $51.28M
Total Liabilities $121.8M $116.5M
YoY Change 17.91% 62.46%
SHAREHOLDERS EQUITY
Retained Earnings -$427.1M -$402.4M
YoY Change 33.25% 35.09%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $299.4M $155.9M
YoY Change
Total Liabilities & Shareholders Equity $421.1M $272.4M
YoY Change 29.96% -12.38%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$24.62M -$25.29M
YoY Change 8.88% 31.8%
Depreciation, Depletion And Amortization $1.049M $642.0K
YoY Change 49.22% -10.46%
Cash From Operating Activities -$18.94M -$28.34M
YoY Change -4.59% 65.47%
INVESTING ACTIVITIES
Capital Expenditures $5.781M $5.372M
YoY Change -481.84% -2564.22%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$5.781M -$5.372M
YoY Change 281.84% 2364.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 162.1M 2.430M
YoY Change 20764.74% -15.09%
NET CHANGE
Cash From Operating Activities -18.94M -28.34M
Cash From Investing Activities -5.781M -5.372M
Cash From Financing Activities 162.1M 2.430M
Net Change In Cash 137.4M -31.28M
YoY Change -767.37% 116.0%
FREE CASH FLOW
Cash From Operating Activities -$18.94M -$28.34M
Capital Expenditures $5.781M $5.372M
Free Cash Flow -$24.72M -$33.71M
YoY Change 34.81% 99.38%

Facts In Submission

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<div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates </span></div><div style="margin-bottom:9pt;text-indent:24.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts and disclosures reported in the condensed consolidated financial statements. Management uses significant judgment when making estimates related to its stock-based compensation expense, right-of-use lease asset, lease liability, loan facility derivative liability, as well as certain accrued liabilities. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from those estimates.</span></div>
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Files In Submission

Name View Source Status
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