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Intuitive Surgical logoIntuitive Surgical ISRG

Intuitive said its revenue for Q1 2024 was $1.89 billion, up 11% from $1.70 billion in Q1 2023. The company cited growth in da Vinci procedure volume and a larger installed base of systems as the drivers of the higher revenue.

8-KResults of Operations and Financial ConditionFiled Period of report Summary published (UTC)

Key points

AI summary

  1. Intuitive said its revenue for Q1 2024 was $1.89 billion, up 11% from $1.70 billion in Q1 2023. The company cited growth in da Vinci procedure volume and a larger installed base of systems as the drivers of the higher revenue.

  2. Intuitive said instruments and accessories revenue for Q1 2024 rose 18% to $1.16 billion, citing growth in da Vinci procedures of approximately 16% and Ion procedures of approximately 90%, along with higher pricing. Systems revenue was $418 million, compared with $427 million a year earlier.

  3. The company said GAAP net income attributable to Intuitive Surgical, Inc. for Q1 2024 was $545 million, or $1.51 per diluted share, and included excess tax benefits of $111 million. Non-GAAP net income was $541 million, or $1.50 per diluted share.

  4. The company said it received FDA clearance for da Vinci 5 in March 2024 and placed 8 systems in Q1. It also said cash, cash equivalents, and investments were $7.32 billion as of the end of Q1 2024, a decrease of $21 million during the quarter.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Intuitive Revenue for Q1 2024 Rises to $1.89 billion, Up 11% from $1.70 billion a Year Earlier

Intuitive said its revenue for Q1 2024 was $1.89 billion, up 11% from $1.70 billion in Q1 2023. The company cited growth in da Vinci procedure volume and a larger installed base of systems as the drivers of the higher revenue.

Source · Based on the filing body and exhibits

Intuitive Q1 instruments and accessories revenue $1.16 billion, systems revenue $418 million

Intuitive said instruments and accessories revenue for Q1 2024 rose 18% to $1.16 billion, citing growth in da Vinci procedures of approximately 16% and Ion procedures of approximately 90%, along with higher pricing. Systems revenue was $418 million, compared with $427 million a year earlier.

Source · Based on the filing body and exhibits

Intuitive Q1 GAAP net income attributable to Intuitive $545 million, $1.51 per diluted share

The company said GAAP net income attributable to Intuitive Surgical, Inc. for Q1 2024 was $545 million, or $1.51 per diluted share, and included excess tax benefits of $111 million. Non-GAAP net income was $541 million, or $1.50 per diluted share.

Source · Based on the filing body and exhibits

da Vinci 5 gets FDA clearance; 8 systems placed in Q1; cash and investments $7.32 billion

The company said it received FDA clearance for da Vinci 5 in March 2024 and placed 8 systems in Q1. It also said cash, cash equivalents, and investments were $7.32 billion as of the end of Q1 2024, a decrease of $21 million during the quarter.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗
Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.