Intuitive Surgical Q3 2022 Earnings Report

Revenue increased driven by da Vinci procedure volume growth, offset by a decline in system placements.

Key Takeaways

Intuitive Surgical announced its Q3 2022 financial results, with revenue increasing by 11% to $1.56 billion compared to Q3 2021. The growth was driven by increased da Vinci procedure volume, although system placements saw a decline. GAAP net income attributable to Intuitive Surgical was $324 million, or $0.90 per diluted share, while non-GAAP net income was $429 million, or $1.19 per diluted share.

Worldwide da Vinci procedures grew approximately 20% compared with the third quarter of 2021.

The Company placed 305 da Vinci Surgical Systems, a decrease of 9% compared with 336 in the third quarter of 2021.

The Company grew its da Vinci Surgical System installed base to 7,364 systems as of September 30, 2022, an increase of 13% compared with 6,525 as of the end of the third quarter of 2021.

Third quarter 2022 revenue of $1.56 billion increased 11% compared with $1.40 billion in the third quarter of 2021.

da Vinci Installed Base

7.36K

Previous year: 6.53K