Intuitive Surgical Expects 31% Jump In FY21 Revenues

Intuitive Surgical Inc ISRG posted interim Q4 sales of $1.55 billion, +17% Y/Y, better than the consensus of $1.51 billion.

• Preliminary 2021 revenue of approximately $5.71 billion increased 31% Y/Y, ahead of analysts' estimate of $5.68 billion.
• Q4 2021 worldwide da Vinci procedures grew approximately 19% compared with Q4 FY20.
• Intuitive Surgical shipped 385 da Vinci Surgical Systems in Q4 FY21, +18%. The company shipped 1,347 da Vinci Surgical Systems in 2021, an increase of 44%.
• Related: Intuitive's Q3 Earnings Slightly Edges Out Expectations.
• Interim Q4 instruments and accessories revenue increased by 13% to approximately $843 million, primarily driven by da Vinci procedure volume growth.
• Fourth-quarter 2021 systems revenue increased by 28% to approximately $470 million.
• In December 2021, the company received FDA clearance for the 8 mm SureForm 30 Curved-Tip Stapler and reloads for use in general, thoracic, gynecologic, urologic, and pediatric surgery. 
• The company noted that COVID-19 would likely continue to have an adverse impact on its procedure volumes.
• Price Action: ISRG shares are down 1.38% at $323.63 during the market session on the last check Wednesday.