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Mar 31, 2020
Intuitive Surgical Q1 2020 Earnings Report
Intuitive Surgical's financial performance for Q1 2020 reflected revenue growth driven by increased procedures and system placements, with net income impacted by COVID-19 in the latter half of March.
Key Takeaways
Intuitive Surgical announced Q1 2020 financial results, with revenue growing 13% year-over-year to $1.1 billion. The company shipped 237 da Vinci Surgical Systems, a 1% increase compared to Q1 2019. GAAP net income was $314 million, or $2.62 per diluted share, while non-GAAP net income was $323 million, or $2.69 per diluted share.
Worldwide da Vinci procedures grew approximately 10% compared to Q1 2019.
The company shipped 237 da Vinci Surgical Systems, a 1% increase compared to Q1 2019.
The da Vinci Surgical System installed base grew to 5,669 systems as of March 31, 2020, an 11% increase year-over-year.
First quarter revenue reached $1,100 million, a 13% increase compared to Q1 2019.
Revenue by Segment
Forward Guidance
Due to the uncertain scope and duration of the pandemic, and uncertain timing of global recovery and economic normalization, we cannot, at this time, reliably estimate the future impact on our operations and financial results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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