ISRG Intuitive Surgical (ISRG) Q1 FY25 earnings call
Intuitive Surgical delivered a strong Q1 FY25, driven by robust procedure growth, particularly in the U.S. with the da Vinci 5 launch, and significant international expansion for Ion and SP platforms. The company raised its full-year procedure growth guidance, reflecting confidence in underlying demand and product adoption. However, new tariff impacts are expected to weigh on gross margins, and management is navigating a dynamic global trade environment while prioritizing supply chain stability and long-term investment in innovation.
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ISRG operating KPIs by quarter
| KPI | This call Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Sep 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|---|
| Installed base da Vinci | — | — | <10.8KFor our da Vinci business, procedures grew 19%, the installed base of da Vinci systems increased by 13% to almost 10,800 systems and average system utilization increased by 4%.Source: earnings call transcript | 11.1K+For our da Vinci business, procedures grew 17%, the installed base of da Vinci systems increased by 12% to just over 11,100 systems and average system utilization increased by 4%.Source: earnings call transcript | — | — | — | — |
| Installed base da Vinci 5 | — | 689Following our progression into US broad launch of da Vinci 5 during Q2, we placed 180 da Vinci 5 systems, bringing the installed base to 689 systems.Source: earnings call transcript | 929The installed base of da Vinci 5 is now 929 systems.Source: earnings call transcript | — | <1,500The installed base of da Vinci 5 is now almost 1,500 systems used by almost 13,000 surgeons since launch.Source: earnings call transcript | 1,700+The installed base of da Vinci 5 is just over 1,700 systems used by over 15,000 surgeons since launch.Source: earnings call transcript | 2,000+We exited the quarter with more than 2,000 da Vinci 5 systems installed worldwide, used by over 18,000 surgeons since launch.Source: earnings call transcript | — |
| Installed base Ion | — | 9057 of these systems were placed in markets outside the US The installed base of Ion systems expanded to 905 systems and average system utilization increased 8% from the year ago period.Source: earnings call transcript | ~950We continue to see robust growth for our Ion platform with procedures increasing 52%, the installed base up by 30% to approximately 950 systems and average system utilization increasing by 14%.Source: earnings call transcript | <1,000For our Ion platform, we continue to see robust clinical growth with procedures increasing 44%, the installed base up by 24% to just under 1,000 systems and average system utilization increasing by 11%.Source: earnings call transcript | — | — | — | — |
| Procedures Ion | ~31KProcedures grew 58% to approximately 31,000 in the quarter.Source: earnings call transcript | ~35KWe performed approximately 35,000 Ion procedures in Q2, a 52% increase over the prior year.Source: earnings call transcript | — | — | 43KIn Q1, da Vinci procedures grew 16% to 847,000, and Ion procedures increased 39% to 43,000.Source: earnings call transcript | 48KIon procedures increased 36% to 48,000 and now exceed 400,000 cumulatively.Source: earnings call transcript | — | +11.6% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.