Investing.com — Intuitive (NASDAQ:ISRG) stock rose 3.5% after the company reported preliminary results for the fourth quarter and full year 2024 that exceeded consensus estimates. A technology leader in minimally invasive care and a pioneer in robotic-assisted surgery announced its financial success ahead of its presentation at the 43rd JP Morgan Healthcare Conference.
In the fourth quarter, Intuitive earned revenue of $2.41 billion, marking a 25% increase from $1.93 billion in the same quarter last year and reaching the consensus estimate of $2.2 billion. Revenue for 2024 also showed significant growth, with preliminary estimates of $8.35 billion, up 17% from $7.12 billion in 2023 and slightly above the consensus forecast of $8.14 billion. This increase in revenue is mainly due to the growth of da Vinci (EPA:) and Ion process volume and customer purchasing patterns.
The company also reported an 18% increase in da Vinci procedures worldwide in the fourth quarter compared to a year ago. Throughout 2024, the number of procedures grew by approximately 17%, and the company expects this growth to continue at a rate of 13% to 16% in 2025. A 19% increase from the fourth quarter of 2023, indicating continued demand for its products.
The strong performance in system placement and volume of processes shows the resilience and growth of the company despite the challenges brought by the COVID-19 pandemic in the past years. The company did not experience major disruptions due to COVID-19 in 2024, suggesting a return to normalcy and the resolution of the backlog of patients during the pandemic.
Intuitive’s CEO, Gary Guthart, commented on the results, expressing satisfaction with customer acceptance of the da Vinci 5, Ion, and SP systems and reiterating the company’s commitment to improving patient and customer outcomes.
Preliminary financial results are subject to final closing procedures and annual independent audits, indicating that reported figures may be adjusted. However, positive preliminary data gave Intuitive’s stock a boost, reflecting investor confidence in the company’s growth and market leadership in robotic-assisted surgery solutions.
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