Q1 25 EPS
$1.81
BEAT +4.41%
Est. $1.73
Q1 25 Revenue
$2.25B
BEAT +3.09%
Est. $2.19B
vs S&P Since Q1 25
-38.2%
TRAILING MARKET
ISRG -3.6% vs S&P +34.6%
Market Reaction
Did ISRG Beat Earnings? Q1 2025 Results
Intuitive Surgical opened 2025 on a strong footing, posting first-quarter revenue of $2.25 billion, up 19.2% year-over-year and ahead of the $2.19 billion consensus, while non-GAAP EPS of $1.81 cleared the $1.73 analyst estimate by 4.41%. The primary… Read more Intuitive Surgical opened 2025 on a strong footing, posting first-quarter revenue of $2.25 billion, up 19.2% year-over-year and ahead of the $2.19 billion consensus, while non-GAAP EPS of $1.81 cleared the $1.73 analyst estimate by 4.41%. The primary engine behind the beat was accelerating adoption of the da Vinci 5 platform, with 147 systems placed in the quarter compared to just 8 in Q1 2024, helping lift total system placements to 367 and push the global installed base to 10,189 units. Instruments and accessories revenue, the company's most reliable recurring stream, grew 18% to $1.37 billion, reflecting healthy procedure utilization as worldwide da Vinci procedures expanded approximately 17%. Looking ahead, Intuitive guided for full-year procedure growth of 15% to 17% and non-GAAP gross margins of 65% to 66.5%, though management flagged that tariffs, particularly on instruments manufactured in Mexico, represent a meaningful variable, with the current estimate baking in a roughly 1.7% revenue headwind that could widen if trade policy shifts further.
Key Takeaways
- • Approximately 17% growth in worldwide da Vinci procedure volume year-over-year
- • Approximately 58% growth in Ion procedure volume year-over-year
- • 367 da Vinci system placements including 147 da Vinci 5 systems (vs. 8 in Q1 2024)
- • 15% growth in installed base to 10,189 systems
- • Higher instruments and accessories revenue driven by increased procedure volumes
ISRG YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
ISRG Revenue by Segment
With YoY comparisons, source: SEC Filings
“Core measures of our business were healthy this quarter, and we are pleased by continued customer adoption of our platforms, including da Vinci 5.”
— Gary Guthart, Q1 2025 Earnings Press Release
ISRG Earnings Trends
ISRG vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ISRG EPS Trend
Earnings per share: estimate vs actual
ISRG Revenue Trend
Quarterly revenue: estimate vs actual
ISRG Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $2.50 | — | $2.77B | +5.84% |
| Q4 25 BEAT FY | $2.26 | $2.53 | +11.95% | $2.87B | +4.14% |
| FY Full Year | $8.67 | $8.93 | +3.01% | $10.06B | +1.14% |
| Q3 25 BEAT | $1.99 | $2.40 | +20.65% | $2.51B | +3.85% |
| Q2 25 BEAT | $1.93 | $2.19 | +13.22% | $2.44B | +3.83% |
| Q1 25 BEAT | $1.73 | $1.81 | +4.41% | $2.25B | +3.09% |