Intuitive Surgical, Inc. · NASDAQ:ISRG
Intuitive Surgical — Q1 2025 Earnings Presentation
27 slides from Intuitive Surgical's earnings presentation, Apr 22, 2025
Slide 1: Investor Presentation Q1 2025
Investor Presentation Q1 2025 © 2025 Intuitive Surgical Operations, Inc. All rights reserved.All rights reserved. 1
Slide 2: Cautionary note on forward-looking statements
Cautionary note on forward-looking statements This presentation contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things: future operating and financial performance, product development, and market position and business st
Slide 3: Our mission and vision
Our mission Our vision We believe that We envision a future of minimally invasive care care that is less invasive is life-enhancing care. and profoundly better, Through ingenuity and where diseases are intelligent technology, identified early and we expand the potential treated quickly so of physici
Slide 4: The Quintuple Aim
The Quintuple Aim We measure ourselves against the metrics our customers care about Better Better patient Better care team Lower total Advance outcomes experience experience cost of care health equity Length of stay Recovery Ergonomics Clinical cost Access Consistency of Conversions Dedicated teams
Slide 5: Procedures performed on da Vinci systems in 2024
2,680,000+ 1,790+ Procedures performed on da Vinci® systems in 2024 Intuitive systems placed in 2024 4,000+ Peer-reviewed articles published in 2024 95,000+ 1,430+ 95+ 270+ Ion procedures performed in 2024 Multiport Single port Ion 17,670,000+ 11,040+ Procedures performed on da Vinci® systems to dat
Slide 6: Worldwide procedure trend
Worldwide procedure trend 3,000,000 17% growth 2,500,000 2,000,000 1,500,000 1,000,000 500,000 2019 2019 2020 2020 2021 2021 2022 2022 2023 2023 2024 2024 General Surgery Urology Gynecology Other Source: Intuitive 2024 earnings. *da Vinci only. © 2025 Intuitive Surgical Operations, Inc. All rights r
Slide 7: Worldwide capital trend
Worldwide capital trend System placements Installed base +15% 1,800 11,000 YoY 1,600 10,000 9,000 1,400 8,000 1,200 7,000 1,000 6,000 800 5,000 4,000 600 3,000 400 2,000 200 1,000 2020 2020 2021 2021 2022 2022 2023 2023 2024 Fcst 2024 2020 2021 2022 2022 2023 2023 2024 2024 Greenfield/Incremental Tr
Slide 8: Procedure growth drivers
Procedure growth drivers +17% YoY growth overall +31% YoY growth OUS non-urology 2024 +19% YoY growth U.S. general surgery Procedures +11% All other 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Source: Intuitive 2024 earnings. *da Vinci only © 2025 Intuitive Surgical Operations,
Slide 9: Customers continue to standardize
Customers continue to standardize Phase 1 IDNs globally with 20+ dV systems Hospitals globally with 7+ dV systems Adopt ~8% ~49% Phase 2 YoY 2025 Q1 YoY 2025 Q1 Operationalize Phase 3 Standardize 2025 2025 2017 2018 2019 2020 2021 2022 2023 2024 2017 2018 2019 2020 2021 2022 2023 2024 Q1 Q1 Source:
Slide 10: 2025 priorities
2025 priorities Accelerate access to and quality of MIS by driving: Innovation — Increased adoption Continued progress Digital excellence — Full launch of dV5 and for focus procedures on building industrial Launch of tools in key regional clearances. by country through scale, product quality markets
Slide 11: Business Overview
Business Overview © 2025 Intuitive Surgical Operations, Inc. All rights reserved. 11
Slide 12: Comprehensive and Integrated Ecosystem
Comprehensive and Integrated Ecosystem Systems Learning Services Instruments Online education Support services Technology training Clinical studies and Stapling economics analysis Continuing Patients, surgeons, Surgical systems education System maintenance and hospitals Peer-to-peer education Progra
Slide 13: Da Vinci SP, Da Vinci Xi, Ion
Da Vinci SP® Da Vinci Xi® Ion © 2025 Intuitive Surgical Operations, Inc. All rights reserved. 13
Slide 14: Da Vinci: Surgery, transformed.
Da Vinci 5 Surgery, transformed. © 2025 Intuitive Surgical Operations, Inc. All rights reserved.
Slide 15: Encouraging phase 1 launch of da Vinci 5 in 2024
Encouraging phase 1 launch of da Vinci 5 in 2024 362 System placements in 2024 32,000+ Procedures performed in 2024 40 Procedure types performed 2,500+ Surgeons using da Vinci 5 Source: Intuitive 2024 earnings. © 2025 Intuitive Surgical Operations, Inc. All rights reserved. 15
Slide 16: What are we hearing from customers?
What are we hearing from customers? Force Feedback Increased efficiency Case Insights Surgeon autonomy Improved vision Ergonomics © 2025 Intuitive Surgical Operations, Inc. All rights reserved. 16
Slide 17: What are we hearing from customers?
What are we hearing from customers? “I think the tissue tension and the ability to feel that instead of having to look for visual cues is a Increased efficiency Case Insights massive transformational improvement for robotic surgery.” Dr. Sam Bagchi Chief Clinical Officer Force Feedback Surgeon auton
Slide 18: What are we hearing from customers?
What are we hearing from customers? “I think the really nice Force Feedback thing about da Vinci 5 Case Insights is that it democratizes the bedside assist.” Dr. Pamela Lee Colorectal surgeon Surgeon autonomy Increased efficiency Improved vision Ergonomics © 2025 Intuitive Surgical Operations, Inc.
Slide 19: What are we hearing from customers?
What are we hearing from customers? “ [Case Insights] is going to transform our value to the way we teach the next generation of surgeons and allow those surgeons Force Feedback Increased efficiency to be much better, much more quickly than we were.” Dr. Michael Stifelman Urologic surgeon Surgeon au
Slide 20: © 2025 Intuitive Surgical Operations, Inc. All rights reserved.
© 2025 Intuitive Surgical Operations, Inc. All rights reserved. 20
Slide 21: Revenue trend
Revenue trend (USD, in millions) +17% $9,000 YoY System sale or sales-type lease $8,000 da Vinci Surgical Systems ASP of $0.7M – $3.1M $7,000 84% $6,000 Instruments and accessories 83% $1,00 – $3,600 per da Vinci procedure $5,000 79% Services $4,000 75% $100K – $225K per year for da Vinci Surgical S
Slide 22: Q1'25 Results
Q1’25 Results © 2025 Intuitive Surgical Operations, Inc. All rights reserved. 22
Slide 23: Q1 2025 Results
Q1 2025 Results 17% $2.25 Da Vinci Procedure growth Y/Y Billion in revenue (19% Y/Y) 15% 66.4% Da Vinci Installed base growth Y/Y Pro-forma gross margin 367 $1.81 Da Vinci systems placed Pro-forma EPS © 2025 Intuitive Surgical Operations, Inc. All rights reserved. 23
Slide 24: Da Vinci System Installed Base
Da Vinci System Installed Base 5,957 1,790 United States 10,189 Asia worldwide as of 1,937 March 31, 2025 505 Europe Rest of World © 2025 Intuitive Surgical Operations, Inc. All rights reserved. 24
Slide 25: Environmental, Social and Governance
Environmental, Social and Governance © 2025 Intuitive Surgical Operations, Inc. All rights reserved. 25
Slide 26: ESG
ESG We believe that minimally invasive care is life-enhancing care that benefits society and the planet. We strive to meaningfully improve patient care while being responsible stewards of the environment, our communities, and our governance values. View the 2024 ESG Report on our website › View the
Slide 27: intuitive.com
intuitive.com