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Intuitive Surgical logoIntuitive Surgical ISRG

The company said revenue for Q2 2024 was $2.01 billion, up 14% from $1.76 billion in Q2 2023. It cited growth in da Vinci procedure volume and an increase in the installed base of systems as drivers of the higher revenue.

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

Key points

AI summary

  1. The company said revenue for Q2 2024 was $2.01 billion, up 14% from $1.76 billion in Q2 2023. It cited growth in da Vinci procedure volume and an increase in the installed base of systems as drivers of the higher revenue.

  2. Intuitive said worldwide da Vinci procedures grew about 17% in Q2 2024 compared with Q2 2023, and that it placed 341 da Vinci surgical systems, including 5 da Vinci 70 systems. The installed base grew 14% to 9,203 systems as of June 30, 2024.

  3. The company said GAAP net income attributable to Intuitive was $527 million, or $1.46 per diluted share, in Q2 2024, compared with $421 million, or $1.18 per share, in Q2 2023. Non-GAAP net income for the same quarter was $641 million, or $1.78 per diluted share.

  4. The company said its cash, cash equivalents, and investments were $7.68 billion as of the end of Q2 2024, an increase of $360 million during the quarter. It cited cash generated from operations as the main driver, partially offset by capital expenditures.

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 Q2 2024 Revenue Rises 14% Year over Year to $2.01 billion

The company said revenue for Q2 2024 was $2.01 billion, up 14% from $1.76 billion in Q2 2023. It cited growth in da Vinci procedure volume and an increase in the installed base of systems as drivers of the higher revenue.

Source · Based on the filing body and exhibits

da Vinci Procedures Up About 17%, 341 Systems Placed in Q2

Intuitive said worldwide da Vinci procedures grew about 17% in Q2 2024 compared with Q2 2023, and that it placed 341 da Vinci surgical systems, including 5 da Vinci 70 systems. The installed base grew 14% to 9,203 systems as of June 30, 2024.

Source · Based on the filing body and exhibits

Intuitive Surgical GAAP net income attributable to Intuitive Surgical, Inc. for Q2 $527 million

The company said GAAP net income attributable to Intuitive was $527 million, or $1.46 per diluted share, in Q2 2024, compared with $421 million, or $1.18 per share, in Q2 2023. Non-GAAP net income for the same quarter was $641 million, or $1.78 per diluted share.

Source · Based on the filing body and exhibits

Cash, Cash Equivalents and Investments $7.68 billion at End of Q2

The company said its cash, cash equivalents, and investments were $7.68 billion as of the end of Q2 2024, an increase of $360 million during the quarter. It cited cash generated from operations as the main driver, partially offset by capital expenditures.

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.