Intuitive Surgical, a leader in robotic-assisted surgery systems, experienced a significant increase in revenue during the fourth quarter. The company’s impressive performance can be attributed to a rise in completed procedures utilizing their innovative technology.
In the quarter ended December 31, Intuitive Surgical achieved a profit of $606.2 million, or $1.69 per share, surpassing expectations for per-share earnings of $1.30. This is a remarkable improvement compared to the previous year’s figures of $324.9 million in profit, or 91 cents per share.
When adjusting for specific one-time items, the company’s adjusted per-share earnings amounted to $1.60, exceeding analysts’ forecast of $1.48. Moreover, revenue grew by 17% to reach $1.93 billion, beating analysts’ expectations of $1.89 billion.
Notably, Intuitive Surgical experienced a 22% increase in instruments and accessories revenue during this period. This growth can be attributed to a 21% increase in procedure volume utilizing their da Vinci systems and a positive pricing benefit. Furthermore, the company witnessed a 14% expansion in its installed base compared to the previous year.
These results demonstrate the continued success and impact of Intuitive Surgical’s robotic-assisted surgery systems, solidifying their position as a leader in the industry.
Written by Ben Glickman