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Mar 31
Intuitive Surgical Q1 2025 Earnings Report
Intuitive Surgical reported strong Q1 2025 results with double-digit revenue and net income growth driven by da Vinci procedure volume and system placements.
Key Takeaways
Intuitive Surgical delivered a robust quarter with 19% revenue growth and a solid increase in net income. The company saw higher da Vinci system placements, especially the da Vinci 5, and increased procedure volumes across its platforms.
Revenue grew 19% year-over-year to $2.25B driven by da Vinci procedure and system placement growth.
EPS reached $1.92, while non-GAAP EPS came in at $1.81.
367 da Vinci systems were placed, including 147 da Vinci 5 units.
Instruments and accessories revenue rose 18%, reflecting higher surgical volume.
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 expects continued growth in procedures and operating expenses, while facing margin pressures from tariffs.
Positive Outlook
- Expected worldwide da Vinci procedure growth of 15% to 17% in 2025.
- Non-GAAP operating expense growth anticipated between 10% and 14%.
- Strong adoption trends of da Vinci 5 platform.
- Growth in installed base supports recurring revenue streams.
- Expansion in Ion procedure volume contributing to accessory revenue.
Challenges Ahead
- Expected non-GAAP gross profit margin down to 65%-66.5%, from 69.1% in 2024.
- Tariffs expected to impact gross margin by about 1.7% of revenue.
- Potential for additional tariff-related headwinds.
- Non-GAAP gross margin may vary with system sales mix and China volume.
- Rising costs related to manufacturing and global operations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income