Intuitive
(Nasdaq: ISRG)
today announced preliminary fourth-quarter results that highlight significant da Vinci surgical robot procedure growth.
Shares of ISRG rose nearly 5% to $565 apiece in early-morning trading following the release of the preliminary results.
The Sunnyvale, California–based surgical robotics leader reported 17% growth in worldwide da Vinci procedures in 2024. For the fourth quarter, that growth totaled 18%. The company anticipates 13%-16% procedure volume growth for da Vinci in 2025 as well. da Vinci placements also increased by 11% compared to 2024 (1,526 vs. 1,370). The company says 362 of those placements were its latest-generation da Vinci 5 system.
Preliminary fourth-quarter 2024 revenue totaled $2.41 billion, marking a 25% increase compared to the same period a year ago. That also comes in ahead of Wall Street expectations of $2.2 billion in sales. Intuitive expects full-year 2024 revenues to total $8.35 billion — good for 17% growth compared to 2023.
The company reported 23% growth in instruments and accessories revenue, thanks to growth in da Vinci and Ion procedure volume.
Intuitive also highlighted that 2024 included no noticeable procedure volume disruptions due to COVID-19, an external factor that had previously affected procedure volumes since 2020. The company reported treatments for a large portion of patients in the backlog created by the pandemic as well. Therefore, it reports an immaterial impact of patient backlogs to procedure volumes in 2024.
“We are pleased with customer adoption of da Vinci 5, Ion, and SP during the quarter and full year,” Intuitive CEO Gary Guthart said. “We remain focused on delivering the goals we share with our customers, centered on improving patient outcomes.”
The analysts’ take on Intuitive’s preliminary Q4 results
BTIG analysts Ryan Zimmerman and Iseult McMahon maintained a “Buy” rating for Intuitive following the preliminary report.
They note that da Vinci 5 procedures came in ahead of Wall Street expectations, while the company’s guidance falls in line with expectations. The analysts also expect Intuitive to continue to raise that range higher over the course of 2025.
“Overall, we view results positively,” the analysts wrote. “We think [da Vinci 5] growth continues to pace well ahead of expectations.”
