PROCEPT BioRobotics Corporation

listen-only mode. We will be facilitating a question and answer session towards the end of today's call. As a reminder, this call is being recorded for replay purposes. I would now like to turn the call over to Matt Baxo, Vice President of Vassar Relations, for a few introductory comments.

Good afternoon, and thank you for joining ProCEP Biorebotics' second quarter 2025 earnings conference call. Presenting on today's call are Reza Zadno, Chief Executive Officer, Larry Wood, incoming Chief Executive Officer, and Kevin Waters, Chief Financial Officer. Before we begin, I'd like to remind listeners that statements made on this conference call that relate to future plans, events, or performance are forward-looking statements as defined under the Private Securities, Litigation, and Reform Act of 1995. While these forward-looking statements are based on management's current expectations and beliefs, these statements are subject to several risks, uncertainties, assumptions, and other factors that could cause results to differ materially from the expectations expressed on this conference call. These risks and uncertainties are disclosed in more detail in ProCEP Biorebotics' filings with the Securities and Exchange Commission, all of which are available online at .sec.gov. Listeners are cautioned not to place undue reliance on these forward-looking statements, which speak only as of today's date, August 6, 2025. Accepted as required by law, ProCEP Biorebotics undertakes no obligation to update or revise any forward-looking statements to reflect new information, circumstances, or unanticipated events that may arise. During the call, we will also reference certain financial measures that are not prepared in accordance with GAAP. More information about how we use these non-GAAP financial measures as well as reconciliations of these measures to their nearest GAAP equivalent are included in our earnings release. With that, I would like to now turn the call over to Reza.

Good afternoon. Before we review our second quarter results and provide an update on our Outlook for 2025, I'd like to share a few brief remarks on our progress and welcome Larry Wood to ProCEP. As we mark this leadership transition, we do so from a position of strength supported by several sustainable growth drivers. We expect to exit 2025 with an estimated install base of 715 systems with the only 20% procedural share in the hospital market, highlighting significant room for expansion. The recent launch of Hydros, our next-generation robotic platform that will serve as a foundation for continued innovation. Enrollment in the Waterford trial is progressing well, positioning us to enter the highly synergistic prostate cancer market. And financially, the company is well-capitalized, with growth margins expanding into the mid-60s range, establishing a clearer path to profitability. None of this momentum would be possible without a strong team executing at a high level. ProCEP will continue to evolve and scale, investing in strategic capabilities while developing and strengthening leadership to support future growth. A great example of that evolution is the succession process that has yielded Larry Wood as our next CEO. While many of you know Larry from his time building the Tabor business at Edwards, we are excited to have him here today to make a few comments before he officially starts on September 2. Larry?