Intuitive Surgical Reports 19% Revenue Growth to $2.25 Billion in Q1 2025

Intuitive Surgical, Inc. reported a significant increase in financial performance for the first quarter of 2025, with total revenue rising 19% to $2.25 billion, compared to $1.89 billion in the same period last year. This growth was driven by an 18% increase in instruments and accessories revenue, which reached $1.37 billion, and a 25% rise in systems revenue, totaling $523 million. Service revenue also saw a 16% increase, amounting to $363 million. The company's net income attributable to Intuitive Surgical, Inc. was $698.4 million, up from $544.9 million in the prior year, resulting in a diluted earnings per share of $1.92, compared to $1.51 in the previous year.

The company experienced notable operational developments, with approximately 732,000 da Vinci procedures performed during the quarter, marking a 17% increase from 627,000 procedures in the first quarter of 2024. The growth in procedures was particularly strong in U.S. general surgery, as well as in international markets, especially in Europe and Asia. The installed base of da Vinci surgical systems grew by 15% to approximately 10,189 systems, reflecting continued demand for robotic-assisted surgery. Additionally, the company placed 367 da Vinci surgical systems in the first quarter, a significant increase from 313 systems in the same period last year, including 147 units of the newly launched da Vinci 5 system.

Intuitive Surgical's strategic initiatives included the ongoing rollout of the da Vinci SP surgical system, which has received regulatory clearances in multiple regions, including the U.S., South Korea, and Europe. The company also announced plans to acquire the da Vinci and Ion distribution businesses in Italy, Spain, Portugal, Malta, and San Marino for approximately EUR 290 million, with the transaction expected to close in the first half of 2026, subject to regulatory approvals. This acquisition is part of Intuitive's strategy to enhance its market presence in Europe.

Despite the positive financial results, the company noted challenges related to macroeconomic conditions, including potential impacts from tariffs and supply chain disruptions. The U.S. imposed new tariffs on imports from various countries, which could affect the cost of raw materials and finished goods. Intuitive Surgical anticipates that these tariffs may significantly increase its cost of revenue in the latter half of 2025. The company remains focused on mitigating these risks while continuing to invest in product development and expanding its global footprint.

Looking ahead, Intuitive Surgical expressed optimism about its growth trajectory, driven by increasing adoption of robotic-assisted surgical procedures and the expansion of its product offerings. The company plans to continue investing in research and development to enhance its technology and maintain its competitive edge in the market.