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  "docSlug": "1233d0b05ad9",
  "documentTitle": "PROCEPT BioRobotics Corporation (PRCT)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2025-01-16 00:00:00",
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  "notes": "The slide uses a red box to highlight the discrepancy between the company's claim and the academic average.",
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      "kind": "callout",
      "text": "While we acknowledge that there is no “perfect” source and some may exclude certain types of claims, we find that none come close to the procedure volume estimate disclosed by Procept.",
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      "text": "Annual resective procedures: 58,063",
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      "kind": "paragraph",
      "text": "As shown, Procept represents that 400,000 BPH surgical procedures are performed each year in the US, of which they claim 290,000 are resective procedures for which Aquablation is a potential substitute.",
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      "text": "Source: Procept October 2024 investor presentation, various academic studies.",
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      "text": "Comparison table of four academic studies vs Procept's claims.",
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      "kind": "title",
      "text": "We Believe The Resective Procedure Market Is Much Smaller Than Procept Represents",
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