Aug. 7 at 3:09 PM
$PRCT I am very encouraged by the share price movement post Q2 numbers. A lot has been highlighted about the headwinds PRCT faces. Nevertheless, machine sales are strong and good to see upgrades increasing. Maybe the procedures were a little lighter than investors wanted. However, with over 160 new machines coming on-line in the past 3 quarters, it will not be long before the numbers pick up a lot. The launch team only covered 40% of new accounts in Q2, expected to cover 100% by year end. Companies don’t buy
$500K machines to not use them. With the revised procedure target, PRCT only have to do a little more than duplicate what they did in Q1 and Q2. That is clearly a very low ball target. I remember PRCT quoting that they aim to under promise and over deliver. Q2 procedures were 600 short of a vague target set in Q1. I think we will get some nice surprises once the launch team are running efficiently. All looks v cheap down here. EBITDA + in Q4 don’t forget.
