San Francisco – September 10, 2026 -- A securities class action has been filed against PROCEPT BioRobotics Corporation (NASDAQ: PRCT), alleging the company inflated handpiece sales through an undisclosed bulk-discount program that pulled forward demand and masked deteriorating customer inventory levels. Law firm Hagens Berman Sobol Shapiro LLP is representing investors who purchased PROCEPT stock between February 28, 2024 and February 25, 2026, with a lead plaintiff deadline set for September 22, 2026.
Complaint alleges bulk-order discounts artificially boosted reported handpiece revenue
The lawsuit claims PROCEPT used an extensive, previously undisclosed discount program to push customers into placing bulk orders during the final weeks of each quarter, exceeding actual procedure demand. Investors allege this pulled sales forward at the expense of future periods, inflating unit sales and revenue figures tied to the single-use handpiece component of the company's Aquablation therapy for enlarged prostate treatment.
Three consecutive disclosures wiped out nearly half of PROCEPT's share value
On August 6, 2025, PROCEPT's Q2 2025 results showed handpiece sales missing consensus estimates by a wide margin. On November 4, 2025, Q3 2025 results again missed unit sales expectations, with management cutting annual handpiece guidance and acknowledging on the earnings call that customer inventory had not been managed properly, with some customers "probably carrying too much."
The most damaging disclosure came February 25, 2026, when PROCEPT reported Q4 2025 results and, for the first time, disclosed actual field procedure counts. The data revealed U.S. handpiece sales had materially exceeded procedures in every quarter since Q1 2023, with cumulative excess customer inventory exceeding 10,000 units. U.S. handpiece sales sequentially cratered 30%, and management said it was eliminating the bulk-order discount program entirely.
PROCEPT shares fell over 48% from August 2025 through the February disclosure
By February 25, 2026, PROCEPT's share price had declined $22.06, or more than 48%, from its close on August 6, 2025, as the market absorbed the sequence of inventory-related disclosures.
Hagens Berman partner questions whether sales pull-ins were intentional
"We're focused on whether PROCEPT may have intentionally pulled-in sales from future quarters to make it seem like the company was meeting expectations and, if so, whether the company had been sufficiently transparent in its investor communications," said Reed Kathrein, the Hagens Berman partner leading the investigation.
The firm is also encouraging individuals with non-public information about PROCEPT's sales practices to consider participation in the SEC Whistleblower program, which offers rewards of up to 30 percent of any successful recovery.