Press release
Intuitive Announces Preliminary Fourth Quarter and Full Year 2023 Results
SUNNYVALE, Calif., Jan. 09, 2024 (GLOBE NEWSWIRE) -- Intuitive (the “Company”) (Nasdaq: ISRG), a global technology leader in minimally invasive care and the
About this update from Intuitive Surgical, Inc.
[{"type":"text","content":"SUNNYVALE, Calif., Jan. 09, 2024 (GLOBE NEWSWIRE) -- Intuitive (the “Company”) (Nasdaq: ISRG), a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery, today announced certain unaudited preliminary fourth quarter and full year 2023 financial results ahead of its presentation at the 42nd Annual J.P. Morgan Healthcare Conference on January 10, 2024. Financial and Operational Highlights Fourth quarter 2023 worldwide da Vinci procedures grew approximately 21% compared with the fourth quarter of 2022. The comparative fourth quarter of 2022 reflected a resurgence of COVID-19 in China, which negatively impacted procedure volumes in the region.Full year 2023 worldwide da Vinci procedures grew approximately 22% compared with 2022. The Company expects worldwide da Vinci procedures to increase approximately 13% to 16% in 2024 as compared to 2023.The Company placed 415 da Vinci surgical systems in the fourth quarter of 2023, an increase of 12% compared with 369 in the fourth quarter of 2022. The Company placed 1,370 da Vinci surgical systems in 2023, an increase of 8% compared with 1,264 systems in 2022.Preliminary fourth quarter 2023 revenue of approximately $1.93 billion increased 17% compared with $1.66 billion in the fourth quarter of 2022. Preliminary 2023 revenue of approximately $7.12 billion increased 14% compared with $6.22 billion in 2022. Preliminary Results The Company expects fourth quarter 2023 revenue of approximately $1.93 billion, an increase of 17% compared with $1.66 billion in the fourth quarter of 2022. The Company expects 2023 revenue of approximately $7.12 billion, an increase of 14% compared with $6.22 billion in 2022. The unaudited results in this press release are preliminary and subject to the completion of the Company’s final closing procedures and annual independent audit and, therefore, are subject to adjustment. Preliminary fourth quarter 2023 instruments and accessories revenue increased by 22% to approximately $1.14 billion, compared with $0.94 billion in the fourth quarter of 2022, primarily driven by growth in da Vinci procedure volume and higher pricing for instruments and accessories, partially offset by customer buying patterns. Preliminary full year 2023 instruments and accessories revenue increased by 22% to approximately $4.28 billion, compared with $3.52 bil...