🔹 Revenue: $2.51B (Est. $2.41B) 🟢 +23% YoY
🔹 EPS (Non-GAAP): $2.40 (Est. $1.99) 🟢 +30% YoY
🔹 Non-GAAP OI: $976M (vs. $755M) 🟢
FY25 Outlook
🔹 da Vinci Procedure Growth: +17 – 17.5% YoY (vs. 17% FY24)
🔹 Non-GAAP Gross Margin: 67 – 67.5% (vs. 69.1% FY24) 🟡
→ Includes ~70 bps impact from tariffs
🔹 Non-GAAP OpEx Growth: +11 – 13% YoY (vs. +10% FY24)
Q3 Operational Highlights
🔹 Worldwide Procedures: +20% YoY
🔹 da Vinci: +19% YoY
🔹 Ion: +52% YoY
🔹 System Placements:
🔹 da Vinci Systems: 427 (vs. 379 YoY)
🔹 Includes 240 da Vinci 5 systems (vs. 110 YoY)
🔹 Ion Systems: 50 (vs. 58 YoY)
🔹 Installed Base:
🔹da Vinci: 10,763 (+13% YoY)
🔹Ion: 954 (+30% YoY)
Revenue Breakdown:
🔹 Instruments & Accessories: $1.52B (+20% YoY)
🔹 Systems: $590M (+33% YoY)
🔹 Service & Other: $400M (approx., steady YoY)
Balance Sheet & Capital Return
🔹 Cash & Investments: $8.43B (↓ $1.1B QoQ)
🔹 Share Repurchases: 4.0M shares for $1.92B in Q3
🔹 Operating Cash Flow: Strong, offset by buybacks + capex
CEO Comment (Dave Rosa)
🔸 “We’re pleased with our strong results this quarter, underscored by continued growth and adoption of our Ion and da Vinci 5 platforms.”
🔸 “We remain focused on the Quintuple Aim — better patient outcomes, improved care team experience, wider access to high-quality care, and lower overall costs.”
