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As you might know, PROCEPT BioRobotics Corporation (NASDAQ:PRCT) just kicked off its latest first-quarter results with some very strong numbers. It looks like a positive result overall, with revenues of US$69m beating forecasts by 5.7%. Statutory losses of US$0.45 per share were 5.7% smaller than the analysts expected, likely helped along by the higher revenues. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.
Taking into account the latest results, the consensus forecast from PROCEPT BioRobotics' ten analysts is for revenues of US$324.3m in 2025. This reflects a major 30% improvement in revenue compared to the last 12 months. Losses are forecast to narrow 8.5% to US$1.51 per share. Yet prior to the latest earnings, the analysts had been forecasting revenues of US$321.7m and losses of US$1.49 per share in 2025.
See our latest analysis for PROCEPT BioRobotics
As a result, it's unexpected to see that the consensus price target fell 15% to US$77.00, with the analysts seemingly becoming more concerned about ongoing losses, despite making no major changes to their forecasts. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. Currently, the most bullish analyst values PROCEPT BioRobotics at US$91.00 per share, while the most bearish prices it at US$60.00. Analysts definitely have varying views on the business, but the spread of estimates is not wide enough in our view to suggest that extreme outcomes could await PROCEPT BioRobotics shareholders.
Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. It's pretty clear that there is an expectation that PROCEPT BioRobotics' revenue growth will slow down substantially, with revenues to the end of 2025 expected to display 42% growth on an annualised basis. This is compared to a historical growth rate of 54% over the past three years. Juxtapose this against the other companies in the industry with analyst coverage, which are forecast to grow their revenues (in aggregate) 8.0% per year. So it's pretty clear that, while PROCEPT BioRobotics' revenue growth is expected to slow, it's still expected to grow faster than the industry itself.