Intuitive Revenues Up 22% Y/Y, 13% Sequential

Q4 Highlights

• Worldwide da Vinci procedures grew approximately 19% compared with the fourth quarter of 2018, driven primarily by growth in U.S. general surgery procedures and worldwide urologic procedures.
• The Company shipped 336 da Vinci Surgical Systems, an increase of 16% compared with 290 in the fourth quarter of 2018.
• The Company grew its da Vinci Surgical System installed base to 5,582 systems as of December 31, 2019, an increase of 12% compared with 4,986 as of the end of the fourth quarter of 2018.
• Q4 2019 revenue of $1.28 billion grew 22% compared with $1.05 billion in the fourth quarter of 2018.
• Q4 2019 GAAP net income was $358 million, or $2.99 per diluted share, compared with $293 million, or $2.45 per diluted share, in the fourth quarter of 2018.
• Q4 2019 non-GAAP* net income was $417 million, or $3.48 per diluted share, compared with $353 million, or $2.96 per diluted share, in the fourth quarter of 2018.

Intuitive a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery announced financial results for the Q4, after the close.

Sunnyvale, Calif.-based Intuitive reported profits of $358 million or $2.99 per share, on sales of $1.28 billion for the three months ended Dec. 31, 2019,  22.3% bottom-line gain on sales growth of 22.1% compared with Q3 2018.