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.
Intuitive (Nasdaq: ISRG) reported Q2 2020 revenue of $852 million, down 22% from $1,099 million in Q2 2019, heavily impacted by the COVID-19 pandemic. Worldwide da Vinci procedures declined 19%, and the shipment of da Vinci Surgical Systems fell 35% to 178 units. The installed base of systems grew 9% to 5,764. GAAP net income was $68 million ($0.57/share), down from $318 million ($2.67/share) last year. The company ended the quarter with $6.1 billion in cash and equivalents. Despite challenges, Intuitive launched an 'Extended Use Program' for instruments to improve economic efficacy.
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