It sold 87 systems in the quarter, compared to 164 during the same period one year ago. Revenue from older da Vinci systems fell nearly 59 percent in Q1 2014 to about $106 million from $256 million during Q1 2013, Intuitive says. Without the impact of the trade-out program, revenue would have been $491 million, still a sharp decrease of 20 percent.
Intuitive says its took a $26 million hit on existing clients who used its trade-in program to upgrade from recently purchased da Vinci instruments and accessories to new da Vinci Xi products.
Intuitive expects Q1 2014 revenue to be approximately $465 million, down 24 percent from $611 million Q1 2013. Hovering near the $520-mark ahead of the earnings report, they gained about 9% so far this year.Just days after announcing its new da Vinci Xi surgical robot received FDA clearance, RBR50 company Intuitive Surgical issued a warning about its first quarter (Q1) 2014 financial results. Related: Intuitive Surgical Q2 2019 Earnings Call TranscriptĪfter retreating from its recent peak, the company’s shares are once again on the growth path. On the back of strong growth in the shipments of da Vinci systems, Intuitive Surgical’s second-quarter earnings and revenues rose in double digits to $3.25 per share and around $1 billion respectively. Among the big names, Medtronic (MDT) is planning to hit the market in a big way, while Johnson & Johnson (JNJ) is doing the groundwork. The company, which has dominated the area of robotic surgery for several years, is currently facing competition with the entry of new players. Intuitive Surgical’s expertise in robotic surgery and innovations involving artificial intelligence give it an edge over competitors in this largely untapped healthcare segment.
Taking a cue from the steady growth in shipments, the company recently acquired the robotic endoscope business of Schölly Fiberoptic, brightening the long-term prospects of the business. Initial estimates show that surgeons in the overseas markets performed more procedures than they did in the previous quarters, lifting the demand for the product.Īt the same time, the Systems and Services segments stand to benefit from the success of the advanced imaging and augmented reality programs.
There has been a steady increase in da Vinci-based procedures and installed bases both in the US and in the international market, which is expected to have continued in the to-be-reported quarter.
So, the Instruments & Accessories segment, which includes the da Vinci system and accounts for more than 50% of the total revenues, will be the key revenue driver this time. It is estimated that the management’s efforts to enhance customer experience and reduce costs had a positive effect on the results. The growth reflects an estimated 16% rise in revenues to $1.06 billion.Īlso see: Retail firms see opportunity in healthcareĪs usual, the performance will largely depend on the demand for the company’s flagship da Vinci Surgical System. Analysts’ consensus earnings estimate is $2.99 per share, up 6% year-over-year. The medical devices firm is preparing to publish its third-quarter results Thursday after the market’s close. Intuitive Surgical ( NASDAQ: ISRG), a market leader in robotic-assisted surgical systems, continues to scale new heights aided by the success of its pioneering technology that got regulatory clearance about two decades ago.