Intuitive Announces Preliminary Fourth Quarter and Full Year 2024 Results

Core Viewpoint - Intuitive announced preliminary financial results for Q4 and full year 2024, showing significant revenue growth driven by increased procedure volumes and customer adoption of its robotic-assisted surgical systems [1][3][11]. Financial Performance - Q4 2024 revenue is expected to be approximately $2.41 billion, a 25$1.93 billion in Q4 2023 [3][8]. - Full year 2024 revenue is projected at approximately $8.35 billion, reflecting a 17$7.12 billion in 2023 [3][8]. - Instruments and accessories revenue for Q4 2024 is expected to be around $1.41 billion, up 23$1.14 billion in Q4 2023 [4][8]. - Full year 2024 instruments and accessories revenue is anticipated to be approximately $5.08 billion, a 19$4.28 billion in 2023 [4][8]. - Systems revenue for Q4 2024 is expected to be approximately $655 million, a 36$480 million in Q4 2023 [6][8]. - Full year 2024 systems revenue is projected at approximately $1.97 billion, a 17$1.68 billion in 2023 [6][8]. Operational Highlights - Q4 2024 da Vinci procedures increased by approximately 18% compared to Q4 2023, with about 2,683,000 procedures performed in 2024, a 17% increase from 2,286,000 in 2023 [5][8]. - The growth in procedure volume was driven by a 19% increase in U.S. general surgery procedures and a 23% increase in procedures outside the U.S., primarily in cancer surgeries [5][8]. - The company placed 493 da Vinci surgical systems in Q4 2024, up 19% from 415 systems in Q4 2023 [7][8]. - For the full year 2024, the company placed 1,526 da Vinci surgical systems, an 11% increase from 1,370 systems in 2023 [9][8]. Future Outlook - The company expects worldwide da Vinci procedures to increase by approximately 13% to 16% in 2025 compared to 2024 [5][8]. - The company did not experience noticeable disruptions in procedure volumes due to COVID-19 in 2024, indicating a recovery from previous impacts [10][8].