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Intuitive positioned eight of its next-generation da Vinci 5 programs within the first quarter of 2024. | Supply: Intuitive Surgical
Intuitive Surgical Inc. yesterday posted first-quarter outcomes that exceeded Wall Avenue’s consensus forecast whereas growing its forecast for full-year process development.
The Sunnyvale, Calif.-based surgical robotics chief reported income of $545 million, or $1.51 per diluted share, for the three months ended March 31, 2024, up 53% from the primary quarter of 2023. Complete income was $1.89 billion for the quarter, up 11% from the identical interval a yr in the past.
Intuitive cited development within the quantity of robot-assisted surgical procedures and a rise in its put in base of programs. World da Vinci procedures grew roughly 16% from the identical quarter a yr in the past. The corporate, which traded as ISRG, positioned 313 da Vinci surgical programs throughout the quarter, in contrast with 312 from the prior-year interval.
Intuitive’s complete put in base climbed to eight,887 programs, up 14% from a yr in the past. Eight of the programs positioned within the first quarter of 2024 had been Intuitive’s next-generation da Vinci 5.
“The core measures of our enterprise remained wholesome this quarter, as we reached significant milestones throughout a number of elements of our enterprise,” stated Intuitive CEO Gary Guthart in a launch. “We’re happy by suggestions from our measured da Vinci 5 launch, in addition to the continued adoption of SP and Ion, and we stay targeted on delivering the objectives we share with our clients, together with bettering affected person outcomes.”
Intuitive additionally experiences growing accent gross sales
Intuitive reported an 18% improve in gross sales of devices and equipment to $1.16 billion, pushed by the expansion of da Vinci process quantity and a 90% development in Ion process quantity.
Adjusted to exclude one-time gadgets, earnings per share (EPS) had been $1.50, $0.09 forward of the Avenue, the place analysts had been on the lookout for EPS of $1.41 on gross sales of $1.87 billion. The corporate elevated its forecast for full-year process development from a 13% to 16% vary to 14% to 17%.
“The low finish of the vary assumes additional weak spot and bariatric procedures together with challenges in China from growing provincial robotic competitors and delayed tenders impacting capital placements and due to this fact process development,” stated Brian King, head of investor relations at Intuitive, on a name with executives to debate the outcomes. “We additionally assume there isn’t any profit affected person backlog within the yr.”
“On the excessive finish of the vary, we assume bariatrics continues at flat to barely constructive development charges, and components in China don’t have a major affect on our enterprise,” he added. “As well as, we assume any backlog of sufferers would decline all year long.”
Traders reacted positively to the outcomes, with ISRG shares rising 3% to $385 apiece in after-hours buying and selling.
Study extra at DeviceTalks Boston, Robotics Summit
Brian Miller, government vice chairman and chief digital officer at Intuitive Surgical, will likely be keynoting DeviceTalks Boston, which is co-located with the Robotics Summit & Expo. The occasions takes place on Could 1 and a pair of on the Boston Conference Heart.
Miller’s discuss is slated for 4:15 p.m. ET on the primary day of the occasion.
Based on WTWH Media, which produces The Robotic Report, the Robotics Summit, MassDevice, and DeviceTalks, this would be the largest one but. The occasion will embody greater than 200 exhibitors, numerous networking alternatives, a Ladies in Robotics breakfast, a profession honest, an engineering theater, a startup showcase, and extra! Registration is now open for the occasion.
Editor’s word: This text was syndicated from The Robotic Report sibling web site MassDevice.