Fri, Oct 18, 8:47 PM (262 days ago)
Intuitive Surgical, Inc. (ISRG) reported strong financial results for Q3 2024, with total revenue increasing 17% year-over-year to $2.04 billion. Product revenue rose 18%, driven by a 18% increase in da Vinci procedures and a notable 73% rise in Ion procedures. The gross profit margin improved slightly to 67.4%, supported by operational efficiencies despite rising costs associated with new product launches. Operating income surged 24% to $577 million, while net income reached $570.6 million, reflecting a 36% increase. The installed base of da Vinci systems grew 15% to approximately 9,539. Cash and investments totaled $8.31 billion, bolstered by robust operational cash flow. However, macroeconomic uncertainties, including supply chain pressures and inflation, could impact future performance. The company continues to navigate these challenges while expanding its product offerings and market presence, particularly with the recent launch of the da Vinci 5 system and ongoing regulatory approvals for its Ion system.