$PRCT stockholder filed a claim against Procept BioRobotics for running an undisclosed discount program that incentivized customers to place bulk handpiece orders in excess of actual procedure demand, artificially inflating its reported handpiece sales and revenue growth.
After Procept disclosed that handpiece sales had exceeded actual procedures in every quarter since 2023 and that quarterly handpiece unit sales had fallen nearly 30%, $PRCT fell 18% on February 27, 2026.
$PRCT investors can join this case to be notified about potential recovery.
Between February 28, 2024 and February 25, 2026, Procept told investors that demand for its Aquablation therapy devices was strong and that customer utilization was steadily increasing. Executives repeatedly pointed to rising handpiece unit sales as evidence of growing procedure volumes and assured investors that the "differential" between handpiece sales and actual procedures performed had "remained relatively consistent" since the Company's 2021 IPO.
However, during this period, investors allege Procept was running an undisclosed discount program that incentivized customers to place bulk handpiece orders during the final weeks of each quarter, regardless of actual procedure demand.
Procept allegedly failed to disclose that this program caused handpiece orders to materially exceed underlying procedures in every quarter of the Class Period, that the gap between orders and procedures had grown over time, that customer field inventory had swelled to more than 10,000 excess units, and that its reported handpiece sales and revenue growth were artificially and unsustainably inflated as a result.
Then, on August 6, 2025, Procept reported that handpiece shipments had unexpectedly deteriorated and issued weak guidance for the following quarter, while also disclosing the abrupt departure of Chief Commercial Officer Hisham Shiblaq. $PRCT fell 16% over two trading days.
Additional revelations followed on November 4, 2025, when Procept cut its annual handpiece sales guidance by 1,000 units and new CEO Larry Wood admitted the Company had not been managing customer inventory levels.$PRCT fell more than 10% over two trading days.
Finally, on February 25, 2026, Procept disclosed actual procedure data for the first time, revealing that handpiece sales had exceeded procedures in every quarter since early 2023 and that quarterly handpiece unit sales had fallen nearly 30%.
$PRCT fell 18%, closing at $22.69 — a decline of more than 75% from its Class Period high of approximately $100 per share.
Based on these events, $PRCT investors filed a claim against Procept, alleging the company:
It ran an undisclosed discount program that pulled forward handpiece sales at the expense of future periods.
It hid that handpiece orders materially exceeded actual procedure demand and had built up more than 10,000 excess units of field inventory.
It caused investor losses when weak handpiece sales, inventory problems, and the true procedure data were revealed.
Investors argue Procept misled the market about underlying procedure demand for its Aquablation devices and the sustainability of its handpiece sales growth, causing losses when the truth emerged.