Da Vinci systems offer surgeons high-definition 3D vision, a magnified view, and robotic and computer assistance. | Source: Intuitive Surgical
Intuitive Surgical Operations Inc. this week announced preliminary fourth-quarter results that highlight significant da Vinci surgical robot procedure growth.
Shares of the Sunnyvale, Calif.–based company rose nearly 5% to $565 apiece in early morning trading on Jan. 15 following the release of the preliminary results.
Intuitive Surgical reported 17% growth in worldwide da Vinci procedures in 2024. For the fourth quarter, that growth totaled 18%. The surgical robotics leader said it anticipates 13% to 16% procedure volume growth for da Vinci in 2025 as well.
Placements of da Vinci also increased by 11% — from 1,526 vs. 1,370 — in comparison with 2024. Intuitive said 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 with the same period a year ago. That also came in ahead of Wall Street expectations of $2.2 billion in sales. Intuitive said it 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 reported 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.”
Analysts approve of Intuitive’s preliminary Q4 results
BTIG analysts Ryan Zimmerman and Iseult McMahon maintained a “Buy” rating for Intuitive following the preliminary report.
They noted that da Vinci 5 procedures came in ahead of Wall Street expectations, while the company’s guidance fell in line with expectations. Zimmerman and McMahon also said they 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.”
Intuitive Surgical adds executives
At the start of this year, Intuitive announced three new executive leadership promotions to support its continued growth. Henry Charlton, Gary Loeb, and Jamie Samath all received promotions within the organization.
Charlton, a 21-year Intuitive veteran, moved up to the role of executive vice president (EVP) and chief commercial and marketing officer. Loeb, who joined Intuitive in 2022 as senior vice president and general counsel, shifted to the role of EVP and chief legal and compliance officer. While Samath took on the position of EVP, chief financial officer, and enterprise technology leader.
Editor’s note: This article was syndicated from The Robot Report sibling site MassDevice.
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