Intuitive Surgical Q1 Earnings: Revenue Beat, EPS Beat, Surgical System Installed Base Up 14% And More

Intuitive Surgical Inc ISRG reported first-quarter financial results Thursday after the market close. Here’s a look at the key metrics from the quarter.

Q1 Earnings: Intuitive Surgical reported first-quarter revenue of $1.89 billion, which beat the consensus estimate of $1.87 billion, according to Benzinga Pro. The robotic-assisted surgery company’s top-line results were up 11% on a year-over-year basis.

Intuitive Surgical reported quarterly adjusted earnings of $1.50 per share, which beat analyst estimates of $1.41 per share.

Worldwide da Vinci procedures increased approximately 16% year-over-year. The company said it placed 313 da Vinci surgical systems in the quarter, versus 312 in the prior year’s quarter. Eight of the systems placed during the quarter were Intuitive’s new da Vinci 5 systems.

Intuitive Surgical’s da Vinci surgical system installed base totaled 8,887 systems as of March 31, up 14% on a year-over-year basis. The company ended the quarter with $7.32 billion in cash, equivalents and investments.

“The core measures of our business remained healthy this quarter, as we reached meaningful milestones across several parts of our business,” said Gary Guthart, CEO of Intuitive Surgical.

“We are pleased by feedback from our measured da Vinci 5 launch as well as the continued adoption of SP and Ion, and we remain focused on delivering the goals we share with our customers, including improving patient outcomes.”

Management will hold a conference call to discuss these results at 4:30 p.m. ET.

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ISRG Price Action: Intuitive Surgical shares were volatile during after-hours trading on Thursday following the release. The stock was up 1.03% at $372.85 at the time of publication, according to Benzinga Pro.

Photo: Courtesy of Intuitive Surgical.