Intuitive Surgical Q4 2024 Earnings Report
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
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