PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Q2 2024 Earnings Conference Call August 1, 2024 4:30 AM ET
Company Participants
Matt Bacso - Vice President, Investor Relations
Reza Zadno - President & Chief Executive Officer
Sham Shiblaq - Executive VP, Chief Commercial Officer
Kevin Waters - Executive VP, Chief Financial Officer
Conference Call Participants
Craig Bijou - Bank of America
Matthew O'Brien - Piper Sandler
Richard Newitter - Truist
Brandon Vasquez - William Blair
Joshua Jennings - TD Cowen
Dino Weinstock - Wells Fargo
Ryan Zimmerman - BTIG
Operator
Good afternoon and welcome to PROCEPT BioRobotics Second Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this call is being recorded for replay purposes. I would now like to turn the call over to Matt Bacso, Vice President of Investor Relations, for a few introductory comments.
Matt Bacso
Good afternoon, and thank you for joining PROCEPT BioRobotics Second Quarter 2024 Earnings Conference Call. Presenting on today's call are Reza Zadno, Chief Executive Officer; and Kevin Waters, Chief Financial Officer. Also present is Sham Shiblaq, Chief Commercial Officer, who will participate in the Q&A session.
Before we begin, I'd like to remind listeners that statements made on this conference call that relate to future plans, events, or performance are forward-looking statements as defined under Private Securities Litigation Reform Act of 1995. While these forward-looking statements are based on management's current expectations and beliefs, these statements are subject to several risks, uncertainties, assumptions, and other factors that could cause results to differ materially from the expectations expressed on this conference call. These risks and uncertainties are disclosed in more detail in PROCEPT BioRobotics' filings with the Securities and Exchange Commission, all of which are available online at www.sec.gov. Listeners are cautioned not to place under reliance on these forward-looking statements, which speak only as of today's date, August 1, 2024. Except as required by law, PROCEPT BioRobotics undertakes no obligation to update or revise any forward-looking statements to reflect new information, circumstances or unanticipated events that may arise.
During the call, we will also reference certain financial measures that are not prepared in accordance with GAAP. More information about how we use these non-GAAP financial measures as well as reconciliations of these measures to their nearest GAAP equivalent are included in our earnings release. With that, I'll turn the call over to Reza.
Reza Zadno
Good afternoon, and thank you for joining us. For today's call, I will provide opening comments and a general business update, followed by Kevin who will then provide additional detail regarding our financial performance and updated 2024 guidance. Starting with our quarterly revenue results. We are pleased to report another strong quarter with total revenue for the second quarter of 2024 of $53.4 million, representing growth of 61% compared to the second quarter of 2023. Growth in the quarter was driven by strong U.S. system sales, increased utilization from expanded U.S. installed base and record international revenues.