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We are a surgical robotics company focused on advancing patient care by developing transformative solutions in urology. We develop, manufacture and sell the AquaBeam Robotic System and HYDROS Robotic System, which are advanced, image-guided, surgical robotic systems for use in minimally invasive urologic surgery, with an initial focus on treating benign prostatic hyperplasia, or BPH.
The business is unprofitable at the operating level (-33.71% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 37.7% YoY with margins expanding 9.5pp.
Negative free cash flow of -$58M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$322M
▲ +37.7% YoY
Net Income (TTM)
-$102M
▼ -4.5% YoY
Op. Margin
-33.86%
▲ +9.5pp YoY
ROIC
-19.20%
▲ +0.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$81M
▲ +43.7% YoY
Op. Cash Flow (TTM)
-$70M
▲ +50.6% YoY
Net Debt
-$168M
Net Cash Position
Cash & Equiv.
$246M
5Y CAGR: +109.0%
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