Intuitive Surgical (NASDAQ:ISRG) started the day with a nearly 9% rise in its share price as investors reacted positively to its third-quarter 2024 earnings. The company reported a solid 17% increase in revenue to $2.04 billion. dollars, driven by an 18% increase in da Vinci procedure volume. Sales of instruments and accessories increased at the same time, while system revenues reached $445 million, thanks to the deployment of 379 da Vinci surgical systems, including 110 of the latest da Vinci 5 models. This raised the installed base to 9,539 systems, an increase of 15% year over year, demonstrating the accelerated adoption of robotic-assisted surgery.
The financial data paints a picture of growing strength. GAAP net income soared to $565 million, or $1.56 per share, a significant jump from $416 million last year. On a non-GAAP basis, net income rose to $669 million, or $1.84 per share. With operating revenue increasing to $577 million and cash reserves increasing to $8.31 billion, Intuitive’s strategic moves continue to strengthen its market position and build a solid foundation for future growth in minimally invasive care.
Adding to the momentum, Intuitive recently obtained regulatory approval for its da Vinci 5 system in South Korea, opening new avenues for growth in urology, gynecology and cardiothoracic procedures. The combination of expanding international markets and growing demand for robotic-assisted surgery positions Intuitive well for sustained growth, as it continues to redefine the surgical care landscape and drive shareholder value.
This article first appeared in FocusGuru.
