Welcome to our dedicated page for Intuitive Surgical news (Ticker: ISRG), a resource for investors and traders seeking the latest updates and insights on Intuitive Surgical stock.
Intuitive Surgical reports developments in robotic-assisted minimally invasive care, centered on its da Vinci surgical systems, da Vinci 5, da Vinci SP, and Ion Endoluminal System. Company news commonly covers procedure volume, system placements, installed-base growth, instruments and accessories revenue, operating lease placements, and share repurchase activity.
Updates also include FDA clearances that expand indications for Intuitive platforms, such as cardiac procedures for da Vinci 5 and additional procedures for da Vinci SP. News about the company also reflects completed commercial expansion in Europe, including direct operations for da Vinci and Ion distribution in Southern European markets.
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Intuitive (Nasdaq: ISRG) reported strong Q1 2023 financial results, with revenue of $1.70 billion, a 14% increase compared to Q1 2022. The growth was driven by a 26% rise in da Vinci procedures despite ongoing COVID-19 disruptions in China. The company placed 312 da Vinci Surgical Systems, maintaining a steady growth of its installed base to 7,779 systems, a 12% increase year-over-year. Non-GAAP net income was $437 million, or $1.23 per diluted share, up from $413 million, or $1.13 per diluted share in Q1 2022. However, GAAP net income decreased slightly to $355 million from $366 million year-over-year. The company ended the quarter with $6.58 billion in cash and cash equivalents, reflecting share repurchases of $350 million.
Intuitive (Nasdaq: ISRG) announced fourth-quarter 2022 results, reporting revenue of $1.66 billion, a 7% increase from Q4 2021. Worldwide da Vinci procedures rose approximately 18%, but were affected by COVID-19 surges in China. The company placed 369 da Vinci Surgical Systems, down 4% from the previous year, while the installed base grew to 7,544 systems, a 12% increase.
GAAP net income was $325 million or $0.91 per diluted share, down from $381 million or $1.04 per share in Q4 2021. The company repurchased $1 billion in stock during the quarter, ending with $6.74 billion in cash and equivalents.