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Dec 31, 2024
Intuitive Surgical Q4 2024 Earnings Report
Intuitive Surgical's Q4 2024 earnings reflected strong growth in revenue and system placements.
Key Takeaways
Intuitive Surgical announced strong financial results for the fourth quarter of 2024, with revenue increasing by 25% compared to the fourth quarter of 2023. The company placed 493 da Vinci surgical systems during the quarter, including 174 da Vinci 5 systems. GAAP net income attributable to Intuitive Surgical was $686 million, or $1.88 per diluted share, while non-GAAP net income was $805 million, or $2.21 per diluted share.
Worldwide da Vinci procedures grew approximately 18% compared with the fourth quarter of 2023.
The Company placed 493 da Vinci surgical systems, compared with 415 in the fourth quarter of 2023.
Fourth quarter 2024 revenue of $2.41 billion increased 25% compared with $1.93 billion in the fourth quarter of 2023.
Fourth quarter 2024 GAAP net income attributable to Intuitive Surgical, Inc. was $686 million, or $1.88 per diluted share.
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
The Company expects worldwide da Vinci procedures to increase approximately 13% to 16% in 2025 as compared to 2024. The Company expects non-GAAP gross profit margin to be within a range of 67% and 68% of net revenue in 2025, compared to 69.1% in 2024. The Company expects non-GAAP operating expense growth to be within a range of 10% to 15% in 2025, compared to 10% in 2024.
Positive Outlook
- Worldwide da Vinci procedures to increase approximately 13% to 16% in 2025
- Strong revenue growth driven by da Vinci procedure volume
- Increase in the installed base of systems
- Continued innovation with da Vinci 5 systems
- Expected non-GAAP gross profit margin between 67% and 68%
Challenges Ahead
- Potential impact of new tariffs on business
- Macroeconomic environment may impact customer spending
- Disruptions to the Company’s supply chain
- Delays in obtaining new product approvals
- Changes in hospital admissions and actions by payers
Revenue & Expenses
Visualization of income flow from segment revenue to net income