Intuitive Surgical said total revenue for the year ended December 31, 2024 increased 17% to $8.4 billion, compared to $7.1 billion in 2023. The company cited 19% higher instruments and accessories revenue, 17% higher systems revenue, and 12% higher service revenue as the drivers of the increase.

10-KAnnual reportFiled Jan 31, 2025Period of report Dec 31, 2024Summary published (UTC) Oct 10, 2026

Key points

AI summary

Intuitive Surgical said total revenue for the year ended December 31, 2024 increased 17% to $8.4 billion, compared to $7.1 billion in 2023. The company cited 19% higher instruments and accessories revenue, 17% higher systems revenue, and 12% higher service revenue as the drivers of the increase.
Intuitive Surgical said the increase in instruments and accessories revenue in 2024 was primarily driven by approximately 17% higher da Vinci procedure volume and approximately 78% higher Ion procedure volume. The company also said it placed 1,526 da Vinci surgical systems in 2024, compared to 1,370 systems in 2023, of which 362 were da Vinci 5 systems.
Intuitive Surgical said product gross profit for 2024 was $4.73 billion, representing 67.2% of product revenue, compared to 65.7% for 2023, and service gross profit was $0.90 billion, representing 69.0% of service revenue, compared to 69.8% for 2023.
Intuitive Surgical said operating cash flow for 2024 was $2.42 billion, exceeding net income of $2.34 billion. The company also said the combined total of cash, cash equivalents, and short-term and long-term investments increased $1.49 billion to $8.83 billion as of December 31, 2024.

Key figures

Fiscal year ended December 31, 2024

Revenue: $8.4B
Operating income: $2.3B
Net income: $2.3B
EPS: $6.42
Gross profit: $5.6B
Operating cash flow: $2.4B

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.

Annual Total Revenue $8.4 billion, Up 17%

Intuitive Surgical said total revenue for the year ended December 31, 2024 increased 17% to $8.4 billion, compared to $7.1 billion in 2023. The company cited 19% higher instruments and accessories revenue, 17% higher systems revenue, and 12% higher service revenue as the drivers of the increase.

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

Da Vinci Procedures Up 17%, 1,526 Systems Placed

Intuitive Surgical said the increase in instruments and accessories revenue in 2024 was primarily driven by approximately 17% higher da Vinci procedure volume and approximately 78% higher Ion procedure volume. The company also said it placed 1,526 da Vinci surgical systems in 2024, compared to 1,370 systems in 2023, of which 362 were da Vinci 5 systems.

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

Product Gross Profit Margin 67.2%, Service 69.0%

Intuitive Surgical said product gross profit for 2024 was $4.73 billion, representing 67.2% of product revenue, compared to 65.7% for 2023, and service gross profit was $0.90 billion, representing 69.0% of service revenue, compared to 69.8% for 2023.

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

Operating Cash Flow $2.42 billion, Cash and Investments $8.83 billion

Intuitive Surgical said operating cash flow for 2024 was $2.42 billion, exceeding net income of $2.34 billion. The company also said the combined total of cash, cash equivalents, and short-term and long-term investments increased $1.49 billion to $8.83 billion as of December 31, 2024.

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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