Intuitive shares slumped after preliminary Q4 and FY revenue missed consensus mark
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Intuitive (NASDAQ:ISRG) shares down after Q4 preliminary revenue fell short of consensus.
The company expects Q4 revenue of $1.66B (+7% Y/Y) vs. consensus of $1.69B and FY revenue growth of 9% Y/Y to $6.22B vs. consensus of $6.26B
Worldwide da Vinci procedures grew approximately 18% Y/Y in Q4 and FY2022.
The compound annual growth rate between 4Q19 to 4Q22 was approximately 14% and between FY2019 to FY2022 was approximately 15%.
The company expects worldwide da Vinci procedures to increase approximately 12% to 16% in 2023.
Commenting on the announcement, Intuitive CEO Gary Guthart said, âOur customers continued to grow their adoption of our training, products, and services in the fourth quarter and for the full year. We remain focused on supporting our customersâ drive to improve the quadruple aim in acute interventions.â
ISRG slipped ~5.7% in reaction to this announcement.
For more in-depth analysis on the stock, see why SA contributor LD Investments says, "ISRG still has more room for further expansion for all major revenue streams."