Intuitive Surgery (NASDAQ: ISRG) saw its shares bounce higher Wednesday. The company, a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery, today announced financial results for the quarter ended March 31, 2023.
Worldwide da Vinci procedures grew approximately 26% compared with the first quarter of 2022. The first quarter of 2023 reflected continued disruptions from COVID-19 in China, which negatively impacted procedure volumes in January. The first quarter of 2022 also reflected COVID-19 disruptions in January in the U.S. and, in the latter part of the quarter, in Asia, which negatively impacted procedure volumes. The compound annual growth rate between the first quarter of 2019 and the first quarter of 2023 was approximately 18%.
The Company placed 312 da Vinci Surgical Systems, compared with 311 in the first quarter of 2022.
The Company grew its da Vinci Surgical System installed base to 7,779 systems as of March 31, 2023, an increase of 12% compared with 6,920 as of the end of the first quarter of 2022.
First-quarter 2023 revenue of $1.70 billion increased 14% compared with $1.49 billion in the first quarter of 2022.
Q1 GAAP net income attributable to Intuitive was $355 million, or $1.00 per diluted share, compared with $366 million, or $1.00 per diluted share, in the first quarter of 2022.
ISRG shares screamed higher $33.83, or 12.6%, to $303.11
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