San Francisco – September 11, 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 September 11, 2026 and September 11, 2026, with a lead plaintiff deadline set for September 11, 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 September 11, 2026, PROCEPT's Q2 2025 results showed handpiece sales missing consensus estimates by a wide margin. On September 11, 2026, 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 September 11, 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 September 11, 2026, PROCEPT's share price had declined $22.06, or more than 48%, from its close on September 11, 2026, 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.