Intuitive Announces Preliminary Fourth Quarter and Full Year 2020 Results
SUNNYVALE, CALIF., Jan. 13, 2021 (GLOBE NEWSWIRE) -- Intuitive (the “Company”) (Nasdaq: ISRG), a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery,
today announced certain unaudited preliminary fourth quarter and full year 2020 financial results ahead of its participation at the 39th Annual JP Morgan Healthcare Conference on January 11-14,
Financial and Operational Highlights
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- Fourth quarter 2020 worldwide da Vinci procedures increased approximately 6% compared with the fourth quarter of 2019, reflecting continued disruption caused by the COVID-19 pandemic. Full year 2020 worldwide da Vinci procedures increased approximately 1% compared with 2019.
- The Company shipped 326 da Vinci Surgical Systems in the fourth quarter of 2020, compared with 336 in the fourth quarter of 2019. The Company shipped 936 da Vinci Surgical Systems in 2020, compared with 1,119 systems in 2019.
- Preliminary fourth quarter 2020 revenue of approximately $1.33 billion increased by 4% compared with $1.28 billion
in the fourth quarter of 2019. Preliminary 2020 revenue of approximately $4.36 billion decreased by 3% compared with $4.48 billion in 2019.
The Company expects fourth quarter 2020 revenue of approximately $1.33 billion, an increase of 4% compared with $1.28 billion in the fourth quarter of 2019. The Company expects 2020 revenue of approximately $4.36 billion, a decrease of 3% compared with $4.48 billion in 2019. The unaudited results in this press release are preliminary and subject to the completion of the Company’s final closing procedures and annual independent audit and, therefore, are subject to adjustment.
Preliminary fourth quarter 2020 instruments and accessories revenue increased by 11% to approximately $747 million, compared with $671 million in the fourth quarter of 2019, primarily driven by growth in da Vinci procedure volume and stocking orders associated with the Company's launch of Extended Use Instruments. Preliminary full year 2020 instruments and accessories revenue increased by 2% to approximately $2.46 billion, compared with $2.41 billion for 2019, primarily driven by growth in da Vinci procedure volume.