Intuitive(US:ISRG) Globenewswireยท2025-04-22 20:05Core Viewpoint - Intuitive Surgical reported strong financial results for Q1 2025, with significant revenue growth driven by increased da Vinci procedure volume and system placements, indicating robust demand for its robotic-assisted surgical technologies [4][10]. Financial Performance - Q1 2025 revenue reached $2.25 billion, a 19% increase from $1.89 billion in Q1 2024, attributed to higher da Vinci procedure volume and system placements [4][10]. - Instruments and accessories revenue grew by 18% to $1.37 billion, driven by a 17% increase in da Vinci procedure volume and a 58% increase in Ion procedure volume [5]. - Systems revenue was $523 million, up from $418 million in Q1 2024, with 367 da Vinci surgical systems placed, including 147 da Vinci 5 systems [6][10]. - GAAP income from operations increased to $578 million from $469 million in Q1 2024, while non-GAAP income from operations rose to $768 million from $630 million [7]. - GAAP net income attributable to Intuitive Surgical was $698 million, or $1.92 per diluted share, compared to $545 million, or $1.51 per diluted share, in Q1 2024 [8][10]. - Non-GAAP net income attributable to Intuitive was $662 million, or $1.81 per diluted share, compared to $541 million, or $1.50 per diluted share, in Q1 2024 [9]. Operational Highlights - Worldwide da Vinci procedures grew approximately 17% compared to Q1 2024, with the installed base of da Vinci surgical systems increasing to 10,189, a 15% rise from 8,887 [10]. - The company ended Q1 2025 with $9.10 billion in cash, cash equivalents, and investments, reflecting a $269 million increase during the quarter [11]. Future Outlook - For 2025, the company anticipates worldwide da Vinci procedure growth of approximately 15% to 17% and expects non-GAAP gross profit margin to be between 65% and 66.5% of revenue, down from 69.1% in 2024 [18]. - Non-GAAP operating expense growth is projected to be between 10% and 14% in 2025, compared to 10% in 2024 [18].