Intuitive Surgical said total revenue for the 3 months ended September 30, 2024 rose 17% to $2.04 billion ($1.74 billion a year earlier), reflecting growth in instruments and accessories 18%, systems 17%, and service 12%.

10-QQuarterly reportFiled Oct 18, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

Intuitive Surgical said total revenue for the 3 months ended September 30, 2024 rose 17% to $2.04 billion ($1.74 billion a year earlier), reflecting growth in instruments and accessories 18%, systems 17%, and service 12%.
The company said it placed 379 da Vinci surgical systems in Q3 2024 (312 a year earlier). Of this increase, 110 were da Vinci 5 placements. It also said the installed base was approximately 9,539 systems as of September 30, 2024.
The company said product gross profit for Q3 2024 rose 20% to $1.15 billion, or 67.5% of product revenue, compared with 66.3% a year earlier. It cited leverage on fixed overhead costs as the driver, partially offset by higher costs related to the launch of the da Vinci 5 surgical system.
The company said net cash provided by operating activities for the 9 months ended September 30, 2024 was $1.59 billion, less than net income of $1.65 billion. It said changes in operating assets and liabilities, including an increase in inventory of $651 million, used $779 million of cash.

Key figures

Quarter ended September 30, 2024

Revenue: $2.0B
Operating income: $577M
Net income: $565M
EPS: $1.56
Gross profit: $1.4B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis 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.

Q3 2024 Total Revenue $2.04 billion

Intuitive Surgical said total revenue for the 3 months ended September 30, 2024 rose 17% to $2.04 billion ($1.74 billion a year earlier), reflecting growth in instruments and accessories 18%, systems 17%, and service 12%.

Source · Based on the MD&A text of the filing

da Vinci System Placements of 379, Installed Base of 9,539

The company said it placed 379 da Vinci surgical systems in Q3 2024 (312 a year earlier). Of this increase, 110 were da Vinci 5 placements. It also said the installed base was approximately 9,539 systems as of September 30, 2024.

Source · Based on the MD&A text of the filing

Q3 Product Gross Margin 67.5%

The company said product gross profit for Q3 2024 rose 20% to $1.15 billion, or 67.5% of product revenue, compared with 66.3% a year earlier. It cited leverage on fixed overhead costs as the driver, partially offset by higher costs related to the launch of the da Vinci 5 surgical system.

Source · Based on the MD&A text of the filing

9-Month Operating Cash Flow $1.59 billion

The company said net cash provided by operating activities for the 9 months ended September 30, 2024 was $1.59 billion, less than net income of $1.65 billion. It said changes in operating assets and liabilities, including an increase in inventory of $651 million, used $779 million of cash.

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

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