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
Comment from the CEO (Dave Rosa)
⭐️ "We are pleased with our strong results this quarter, highlighted by the continued growth and adoption of our Ion and da Vinci 5 platforms."
⭐️"We remain focused on the Fivefold Goal: better patient outcomes, improved care team experience, broader access to quality care and lower overall costs."
