Intuitive Reports Strong Q1 2025 Results on Continued da Vinci Growth

Intuitive Surgical reported a 19% year-over-year revenue increase in Q1 2025, reaching $2.25 billion, driven by 17% global growth in da Vinci surgical procedures and expanded placements of the company’s latest robotic system.

The company placed 367 da Vinci systems during the quarter, including 147 of the next-generation da Vinci 5 units, up significantly from just 8 in the same period last year. The total installed base now stands at 10,189 systems, reflecting a 15% annual increase.

GAAP net income rose to $698 million, or $1.92 per diluted share, compared to $545 million, or $1.51, in Q1 2024. Non-GAAP net income was $662 million, or $1.81 per diluted share. The strong results were supported by higher procedure volumes, system placements, and increasing adoption of the Ion platform, which saw a 58% increase in procedure volume.

Instrument and accessories revenue rose 18% to $1.37 billion, while system revenue climbed 25% to $523 million. Operating income on a GAAP basis grew to $578 million, with non-GAAP operating income reaching $768 million.

Intuitive ended the quarter with $9.1 billion in cash and investments, up $269 million from the previous quarter.

Looking ahead, the company forecasts da Vinci procedure growth of 15% to 17% for full-year 2025, and non-GAAP gross margins between 65% and 66.5%, reflecting anticipated tariff impacts. Operating expenses are expected to grow by 10% to 14%.

CEO Gary Guthart stated, “We are pleased by the continued adoption of our platforms, including da Vinci 5. We remain focused on enabling better outcomes and increased access to care.”