AI English summary of an SEC filing — figures as filed
Intuitive Surgical ISRGThe company said its total revenue for the 3 months ended June 30, 2024 rose 14% to $2.01 billion, compared with $1.76 billion a year earlier. It cited higher instruments and accessories revenue 16%, systems revenue 14%, and service revenue 10% as contributors to the increase.
Key points
AI summaryThe company said its total revenue for the 3 months ended June 30, 2024 rose 14% to $2.01 billion, compared with $1.76 billion a year earlier. It cited higher instruments and accessories revenue 16%, systems revenue 14%, and service revenue 10% as contributors to the increase.
The company said it placed 341 da Vinci surgical systems in Q2 2024, compared with 331 a year earlier. It said the da Vinci installed base was approximately 9,203 systems as of June 30, 2024, compared with approximately 8,042 on the same date a year earlier.
The company said product gross profit for Q2 2024 rose 19% to $1.15 billion, or 68.1% of product revenue, compared with $0.97 billion (66.1%) a year earlier. It cited lower component pricing from suppliers, lower logistics costs, and leverage on fixed overhead costs as the factors behind the change.
The company said net cash provided by operating activities for the 6 months ended June 30, 2024 was $886 million, which was less than net income of $1,079 million. It explained that the $693 million cash used for changes in operating assets and liabilities included an increase in inventory of $389 million.
Key figures
Quarter ended June 30, 2024
- Revenue
- $2.0B
- Operating income
- $567M
- Net income
- $527M
- EPS
- $1.46
- Gross profit
- $1.4B
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Q2 2024 Total Revenue $2.01 billion
The company said its total revenue for the 3 months ended June 30, 2024 rose 14% to $2.01 billion, compared with $1.76 billion a year earlier. It cited higher instruments and accessories revenue 16%, systems revenue 14%, and service revenue 10% as contributors to the increase.
Source · Based on the MD&A text of the filing
da Vinci System Placements and Installed Base
The company said it placed 341 da Vinci surgical systems in Q2 2024, compared with 331 a year earlier. It said the da Vinci installed base was approximately 9,203 systems as of June 30, 2024, compared with approximately 8,042 on the same date a year earlier.
Source · Based on the MD&A text of the filing
Q2 Product Gross Margin 68.1%
The company said product gross profit for Q2 2024 rose 19% to $1.15 billion, or 68.1% of product revenue, compared with $0.97 billion (66.1%) a year earlier. It cited lower component pricing from suppliers, lower logistics costs, and leverage on fixed overhead costs as the factors behind the change.
Source · Based on the MD&A text of the filing
6-Month Operating Cash Flow $886 million
The company said net cash provided by operating activities for the 6 months ended June 30, 2024 was $886 million, which was less than net income of $1,079 million. It explained that the $693 million cash used for changes in operating assets and liabilities included an increase in inventory of $389 million.
Source · Based on the MD&A text of the filing
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.
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