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Mar 31, 2022
Intuitive Surgical Q1 2022 Earnings Report
Intuitive Surgical's Q1 2022 financial results were announced, demonstrating revenue growth driven by increased da Vinci procedure volume and system placements amidst COVID-19 related challenges.
Key Takeaways
Intuitive Surgical announced a 15% increase in revenue to $1.49 billion for Q1 2022, driven by growth in da Vinci procedure volume and system placements. GAAP net income was $366 million, or $1.00 per diluted share, while non-GAAP net income was $413 million, or $1.13 per diluted share. The company's installed base grew to 6,920 systems.
Worldwide da Vinci procedures grew approximately 19% compared to Q1 2021, with a compound annual growth rate of approximately 15% between Q1 2019 and Q1 2022.
The company placed 311 da Vinci Surgical Systems, a 4% increase compared to Q1 2021.
The da Vinci Surgical System installed base grew to 6,920 systems as of March 31, 2022, a 13% increase compared to the end of Q1 2021.
First quarter revenue increased 15% to $1.49 billion, compared to $1.29 billion in the first quarter of 2021.
Intuitive Surgical
Intuitive Surgical
Intuitive Surgical Revenue by Segment
Revenue by Segment
Instruments and Accessories Revenue
CapyFin.comSystems Revenue
CapyFin.comServices Revenue
CapyFin.com Forward Guidance
Intuitive Surgical did not provide specific forward guidance in this earnings report. The report highlights the impact of COVID-19 on procedure volumes and mentions the company's focus on meeting customer demand and advancing innovation programs.
Revenue & Expenses
Visualization of income flow from segment revenue to net income