11:35 AM EDT, 10/28/2024 (MT Newswires) -- (Updates to add stock move in the headline and the first paragraph.)

PROCEPT BioRobotics ( PRCT ) shares advanced more than 27% in recent Monday trading after it announced Q3 results that topped market expectations and raised its revenue outlook for 2024.

The company reported a Q3 net loss Monday of $0.40 per diluted share, compared with a loss of $0.51 a year earlier.

Analysts surveyed by Capital IQ expected a loss of $0.49.

Revenue for the quarter ended Sept. 30 was $58.4 million, up from $35.1 million a year earlier.

Analysts surveyed by Capital IQ expected $53.2 million.

For 2024, the company said it now expects revenue in the range of $222.5 million to $223 million, compared with the prior guidance of $217 million. Analysts polled by Capital IQ expect $217.1 million.

Price: 87.64, Change: +18.87, Percent Change: +27.44