Intuitive Surgical Inc

Latest Results (20.08.2024):

Revenue Growth

Intuitive Surgical Inc. reported a revenue of $2.01 billion for the second quarter of 2024, marking a 14% increase compared to $1.76 billion in the second quarter of 2023. This growth was primarily driven by an increase in da Vinci procedure volume and a larger installed base of systems.

System Placements

During the second quarter of 2024, Intuitive Surgical Inc. placed 341 da Vinci surgical systems, including 70 da Vinci 5 systems. This is a slight increase from the 331 systems placed in the second quarter of 2023. The total installed base of da Vinci systems grew to 9,203, a 14% increase from the previous year.

Net Income

Intuitive Surgical Inc. reported a GAAP net income of $527 million, or $1.46 per diluted share, for the second quarter of 2024. This represents an increase from the $421 million, or $1.18 per diluted share, reported in the second quarter of 2023. On a non-GAAP basis, net income was $641 million, or $1.78 per diluted share, compared to $507 million, or $1.42 per diluted share, in the same period last year.

Instruments and Accessories Revenue

Revenue from instruments and accessories for Intuitive Surgical Inc. increased by 16% to $1.24 billion in the second quarter of 2024, compared to $1.08 billion in the second quarter of 2023. This growth was driven by a 17% increase in da Vinci procedure volume and an 82% increase in Ion procedure volume.

Cash and Investments

As of the end of the second quarter of 2024, Intuitive Surgical Inc. had $7.68 billion in cash, cash equivalents, and investments. This represents an increase of $360 million during the quarter, primarily driven by cash generated from operations, partially offset by capital expenditures.