Intuitive Surgical

Performance indicators

2021: Revenue - $5.71 billion, profit - $1.73 billion

At the end of 2021, Intuitive Surgical's revenue reached $5.71 billion, in 2020 the figure was $4.36 billion. The company's profit for the year amounted to $1.73 billion, while in 2020 the figure was $1.07 billion.

Of these indicators, revenue from robotic surgeons amounted to $1.7 billion, tools and accessories for them accounted for $3.100 billion, for service - $916.2 million. In 2020, the indicators were $1.18 billion (robotic surgical systems), $2.45 billion (tools and accessories) and $723.8 million (service), respectively.

In 2021, the manufacturer of robotic surgeons da Vinci increased sales by 31%

Revenue from sales of robotic surgeons in 2021 reached $1.86 billion, which is 33% more than in 2020 - $1.4 billion. The sale of tools and accessories for surgical robots in 2021 reached 875.4 million, which is 31% more than in 2020 - $670.6 million. The service direction brought Intuitive Surgical revenues in the amount of $312.9 million against $241.2 million in 2020, an increase of 30%.

Deliveries of robotic surgeons in 2021 amounted to 482, of which Dual Console X systems - 126 pieces, Single Console X - 9 pieces, Dual Console Xi - 89 pieces, Single Console Xi - 252 pieces, SP - 6. In 2020, Dual Console X was delivered - 89 pieces, Single Console X - 5 pieces, Dual Console Xi - 58 pieces, Single Console Xi -180 pieces, SP - 4.

In 2020, the COVID-19 pandemic significantly affected the sales volumes of da Vinci robotic surgeons, as health systems around the world focused on the capabilities to respond to COVID-19. During 2021, repeated outbreaks of COVID-19 continued to affect the supply of surgical systems. The impact of the COVID-19 pandemic on the company's business has been and continues to vary depending on geographical location and region.^[1]

History

2025: Hundreds laid off due to lack of money

At the end of August 2025, Intuitive Surgical, the developer of da Vinci robotic surgeons, announced its intention to reduce the number of personnel by about 2%. One reason for the reorganization is a lack of money.

At the end of 2024, the company's staff was about 15.6 thousand employees. Layoffs will be held at the headquarters of Intuitive Surgical in Sunnyvale (California, USA). In total, about 330 people will lose their jobs. In particular, the managers of production processes, material processing specialists, instructors, production technicians, leading specialists, senior quality inspectors, product production specialists, etc. will be reduced.

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Фото: yahoo.com

The reorganization involves the termination of work during night shifts and on weekends in the production of tools and accessories of the Intuitive Surgical Ion system (provides minimally invasive deep lung biopsy), as well as in all related logistics and quality control positions. In addition, the company announced plans to switch from 4×10 shifts (four days a week for 10 hours a day) to a 5×8 schedule. The move applies to all production crews in Sunnyvale. Intuitive Surgical notes that the changes are part of its strategy to create a global "hub model."

We are moving to a new shift schedule so that our production teams can coordinate their work more effectively. As part of this process, we informed employees in advance of the planned changes. Our goal is to retain specialists in positions on a standard schedule. At the same time, we understand that the new work scheme may not be suitable for some of the employees, and we are striving to help them move to alternative positions, - said representatives of Intuitive Surgical.[2]

2021

Investing $500 million in office expansion

In early August 2021, Intuitive Surgical will spend more than $500 million to expand its Peachtree Corners campus northeast of Atlanta.

The Sunnyvale, California-based robotic surgical systems company is one of the favorites in the field and has been present in Georgia for 10 years. It is planned to expand the campus in Peachtree Corners to 70 thousand square meters. m., where various production and engineering facilities will be located, training centers for surgeons and hospital teams, as well as administrative offices for workers.

Robotic surgeon maker Intuitive Surgical invests $500 million to expand office

The expansion will take place in stages and with final completion in 2024. Intuitive Surgical plans to create 1,200 jobs in addition to 180 professionals who already work in Peachtree Corners.

One of the company's robotic systems can cost $2 million or more. Surgeons around the world have used the company's robots to perform more than 1.2 million procedures in 2020, according to Intuitive Surgical. Her most famous product is the da Vinci surgical system.

To meet the growing demand for minimally invasive surgical technologies, Intuitive Surgical needs a highly educated, dedicated personnel, quality infrastructure and the right geographical location. And all of that, we've found it here, and we're excited to continue to grow in the state. We are committed to hiring a diverse and inclusive workforce as we expand our presence in Georgia, "Intuitive CEO Gary Guthart said in a statement.

Kemp noted the state's advanced medical environment, dynamic workforce, business support policies and a thriving economy.

California continues to attract world-renowned companies like Intuitive Surgical and this huge investment in a new campus in Peachtree Corners will benefit hundreds of hardworking Georgia residents across Atlanta.^[3]

Legal action for imposing the purchase of new parts and a ban on third-party contractors servicing the equipment

In mid-July 2021, several hospitals began legal proceedings against Intuitive Surgical. The authors of the complaint claim that the monopoly position of the medical equipment manufacturer forces clinics to buy maintenance services and spare parts at inflated prices, despite the existence of cheaper options on the market.

In one statement, the hospital alleges that Hospitals sued robot maker da Vinci for imposing the purchase of new parts and banning third-party contractors from servicing the equipment remotely shut down the hospital's surgical robot midway through the operation, forcing the surgeon to put the procedure into manual mode and work with the patient himself, after the hospital said. Hospital management attributes this action to their recent statement saying the hospital was considering a service contract with a third party.

Hospitals sue Intuitive Surgical for imposing purchase of new parts and banning third-party contractors from servicing appliances

Intuitive Surgical manufactures the da Vinci surgical robot and sells them to hospitals at a price of $500,000 to $2.5 million per 1 unit.

But most of Intuitive Surgical's $4 billion in annual revenue comes from related tools, accessories and maintenance contracts that are needed to keep robots running. Franciscan Health, Valley Medical Center and Kaleida Health filed class action lawsuits that say Intuitive Surgical has a monopoly on minimally invasive surgical robots (the system incorporates the highest motion control technologies, so that each motion provides smooth and accurate motions resembling those of an experienced surgeon, even at slow design speeds), giving the company near-total market dominance of all the parts and services robots need after being bought by hospitals.

One lawsuit alleges that hospitals cannot serve their da Vinci robots with third parties, as Intuitive Surgical forces hospitals to sign multi-year exclusive service agreements at prices that are much higher than other providers.

Hospitals also claim that Intuitive Surgical forces them to buy expensive new tools and attachments for their robots (called EndoWrists) after 10 uses, even if the parts are in good working order.

Intuitive Surgical has been facing antitrust lawsuits from third-party repair and service companies since early 2019, but this lawsuit is already from the hospitals themselves. A representative of Intuitive Surgical said that they would not comment on these claims yet.

By July 20, 2021, the market value of Intuitive Surgical is $113 billion, which is more than that of companies such as CVS Health or, and Lockheed Martin its leaders are among the highest paid in the field. health care^[4][5]

2020

Falling sales due to pandemic COIVD-19

Intuitive Surgical completed 2020 with revenue of $4.36 billion, slightly less than the one-year-old figure of $4.48 billion.

Revenue from the sales of robotic surgeons decreased - from $1.35 billion in 2019 to $1.18 billion a year later. The sale of tools and accessories for this equipment has also decreased, although slightly - from $2.41 billion to $2.46 billion. The service direction brought revenues to the manufacturer in the amount of $723.8 million against $724.2 million in 2019.

In addition to sales, Intuitive Surgical also had a decrease in net income. In 2020, it amounted to $1.07 billion, while in 2019 it was $1.38 billion.

Intuitive Surgical sales in 2020 showed a drop due to the pandemic

The company associated its financial downturn with the COVID-19 pandemic, due to which the number of operations carried out using da Vinci robotic surgical systems has significantly decreased, as many hospitals have switched to treating patients with coronavirus. By the end of 2020, in the United States, the number of operations carried out with the participation of these robotic surgeons has practically returned to pandemic levels, according to the financial statements of Intuitive Surgical.

Da Vinci deliveries to the American market in 2020 amounted to 600 units, which is 18% less than a year earlier. In Europe, shipments of this medical equipment decreased by 20%, to 136 units. In Asia, the rate of decline was slightly lower (-14%), and sales - 157 units. The rest of the countries combined received 43 systems, which is 8% higher than a year ago.

The average cost of the sold robot surgeon da Vinci at the end of 2020 amounted to $1.5 million against $1.52 million a year earlier. By December 31, there were 5,989 installed systems in the world (+ 7% by the end of 2019^[6]

Launch of $100 million venture capital fund Intuitive Ventures

At the end of October 2020, Intuitive Surgical, a manufacturer, robots surgeons da Vinci announced the opening of the first $100 million investment fund called. Intuitive Ventures According to the company's management, the new venture capital fund will consider investment opportunities related to digital instruments, precision diagnostics, focus therapy and platform technologies. More. here

Buying startup Orpheus Medical

In mid-February 2020, Intuitive Surgical announced the acquisition of the startup Orpheus Medical. The financial terms of the deal were not disclosed. Read more here.

2019

The average price of a robot surgeon reached $1.52 million

In 2019, Intuitive Surgical raised $4.48 billion against $3.72 billion a year earlier. The company earned $1.35 billion on sales of new robotic surgeons, while in 2018 the figure was $1.13 billion.

Supplies of tools and accessories for medical equipment brought the manufacturer most of the revenues - $2.41 billion against $1.96 billion a year earlier. The volume of services provided in 2019 was measured at $724.2 million, increasing relative to revenues in 2018 ($635.1 million).

Intuitive Surgical financials

The largest market for Intuitive Surgical remains the United States, although this country brings less and less revenue to the vendor from year to year. In 2019, the company's revenue in the American market amounted to $3.13 billion against $2.63 billion a year earlier. The US share of the company's total turnover fell from 71% in 2018 to 70% a year later. In 2017, the share was 73%.

In 2019, Intuitive Surgical received a net profit of $1.38 billion, which is more than the previous year's profit of $1.13 billion.

By the end of 2019, the number of da Vinci robotic systems used worldwide reached 5582, which is 12% more than in the same period in 2018, when the number was 4986.

In 2019, the company delivered 1,119 da Vinci systems against 926 a year earlier. In the United States, equipment deliveries increased from 581 to 728 units, and in all countries combined - from 345 to 391.

It also follows from the report that in 2019, Intuitive Surgical supplied customers with 425 robotic surgeons under leasing agreements and 272 used devices. The average sales value of one da Vinci device in 2019 reached $1.52 million, an increase of $1.45 million compared to a year ago.

The company ended 2019 with a cash reserve of $5.8 billion. This also includes cash and investment equivalents.^[7]

Buying Scholly Fiberoptic Robotic Endoscope Business

On July 15, 2019, Intuitive Surgical announced the acquisition of the Scholly Fiberoptic robotic endoscope business. Read more here.

2018:1 million operations by robot surgeon da Vinci

In 2018, Intuitive Surgical's revenue amounted to $3.72 billion against $3.14 billion a year earlier. The company's revenues are boosted by growing demand for. robots surgeons da Vinci

By the end of 2018, a total of 6 million operations using da Vinci were performed worldwide. In 2018 alone, their number exceeded 1 million, which is 18% more than in the previous year. On average, one operation begins every 36 seconds, in which doctors use this robotic system.

Intuitive Surgical Revenue Change

The company's revenue from the sale of the robotic surgeons themselves in 2018 amounted to $1.13 billion, while in 2017 it was measured at $928.4 million. Sales of tools and accessories exceeded $1.96 billion, increasing from $1.64 billion in 2017. Finally, the service business provided Intuitive Surgical with a turnover of $635.1 million, which is also more than a year ago ($572.9 million).

As of December 31, 2018, about 900 da Vinci devices were installed in medical institutions, which is 35% more than a year earlier. Most systems (approximately 600) operate in the United States.

Among the surgeries that were performed with da Vinci in 2018, the majority came from general surgery. The second place in the number of operations was taken by the gynecological region, the third - urological.

In 2018, Intuitive Surgical received $1.13 billion in net profit, more than one and a half times the result of a year ago. At the same time, the company's expenses increased from $1.14 billion to $1.4 billion, as the manufacturer actively invests in the research, development and sale of its equipment.

Intuitive Surgical's high costs are due to the escalating competition in the robotic surgeon market. So, by the beginning of 2019, Medtronic is working on such a system, J&J is collaborating with Alphabet as part of the Verb Surgical enterprise, and there are rumors about the sale of Auris Health (a direct competitor to Intuitive Surgical) to J &^[8]

2017: Revenue growth to $3.1 billion

In 2017, Intuitive Surgical increased revenue by 16%. Progress was facilitated by an increase in the number of procedures performed with the help of, robotic surgical systems da Vinci sales of the devices themselves, tools and accessories for them.

As follows from the company's annual report, Intuitive Surgical's revenue rose from $2.7 billion in 2016 to $3.1 billion in 2017. Also, the manufacturer of robotic surgeons reported a net profit of $660 million against $735.9 million a year earlier.

Intuitive Surgical financials

According to the results of the 12-month period that expired on December 31, 2017, 877 thousand procedures were performed using da Vinci surgical systems, which is about 16% more than in the previous year, when the number of operations using Intuitive Surgical robotic surgeons was 753 thousand. Most of the operations were carried out in the United States - 644 thousand, and in other countries - 233.

More than half of the annual revenue, or rather $1.6 billion, the company earned on the sale of tools and accessories for its equipment. Compared to 2016, revenue of $1.4 billion increased by 17%.

Revenue from the sale of robotic surgeons increased by 15%, to $910.2 million. In 2017, Intuitive Surgical delivered a total of 684 da Vinci systems, more than a quarter better than the previous year's result of 537 systems.

Introduction of da Vinci robotic surgeons in different regions

Services brought Intuitive Surgical $581.8 million against $517 million in 2016.

The company also reported that as of December 31, 2017, approximately 4,409 da Vinci surgical systems were installed worldwide. Most of the robotic surgeons - 2862 - are used in the United States, 742 - work in Europe, and 579 - in Asian countries.^[9]

The United States remains the largest market for Intuitive Surgical products. In 2017, this country accounted for 73% of all revenue against 72% in 2016. Outside the United States, the company earned $849.1 million or 27% of total revenue.^[10]

2016:25% profit growth

In 2016, Intuitive Surgical saw a 13% increase in revenue and a 25% increase in net income. Most of the company's robot surgeon sales came from the American market.

At the end of 2016, Intuitive Surgical's revenue amounted to $2.7 billion against $2.4 billion a year earlier. It is worth noting that in 2014 the company's sales fell to $2.1 billion from $2.3 billion in 2013.

Intuitive Surgical's net profit was $735.9 million in 2016 against $588.8 million in 2015. In 2014, the company's profit fell to $418.8 million from $671 million.

Robot surgeon da Vinci

The majority of Intuitive Surgical's annual revenue (81%) was from medical device sales. The remaining share fell on services, including technical support services, the income from which was measured at $517 million.

Intuitive Surgical still earns the most in the U.S. Moreover, the country's share in the company's turnover increased - from 70% in 2014 to 72% in 2016. The fact that the American market brings the lion's share of revenue was associated with the development of innovation and minimally invasive surgery in the country, as well as the fact that the vendor's initial investments were focused on the US market.

In 2016, Intuitive Surgical delivered 537 da Vinci robotic systems to medical facilities against 492 a year earlier. Most of the shipments were occupied by the da Vinci Xi model with a single console: its annual release exceeded 300 copies.

The American market received 338 da Vinci systems, Asia - 96, Europe - 79. Data on Russia are not given, but it is known that da Vinci surgeons have long been used in some Russian hospitals.

At the end of 2016, Intuitive Surgical earned about $1.4 billion on the sale of tools and accessories for its systems, which is 17% more than a year ago.^[11]

Notes