Intuitive Surgical beats estimates as demand for robotic surgical system recovers
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Intuitive Surgical (ISRG
-0.2%) is trading ~2.8% higher in the post-market after the companyâs Q3 2021 financials exceeded the consensus amid the recovery in demand for its da Vinci Surgical Systems after the COVID-19 impact in 2020.

Revenue for Q4 2021 reached ~$1.6B with a ~17% YoY growth driven by ~13% YoY and ~28% YoY growth in instruments and accessories revenue and systems revenue, respectively. In comparison, in Q4 2020, the companyâs topline only grew ~4% YoY as systems revenue dropped ~12% YoY.

However, Intuitive Surgical (NASDAQ:ISRG) warns of the ongoing COVID-19 impact on its procedure volumes.
The company ended 2021 with an installed base of 6,749 da Vinci Surgical Systems, indicating ~12% YoY growth compared to ~7% YoY rise in 2020. Worldwide da Vinci procedures rose ~19% YoY during Q4 2021, while the shipments of da Vinci Surgical Systems climbed ~18% YoY to 385 compared to ~3% YoY decline in Q4 2020.
Non-GAAP net income for the quarter improved to $477M from $434M in the prior-year quarter.
A conference call on earnings is scheduled for today at 4:30 p.m. EST.
Currently, Intuitive Surgical (ISRG) has only one Sell recommendation from Wall Street analysts.