Intuitive Surgical Files Q1 2024 10-Q
Ticker: ISRG · Form: 10-Q · Filed: Apr 19, 2024 · CIK: 1035267
Sentiment: neutral
Topics: 10-Q, earnings, medical-devices
TL;DR
ISRGS Q1 10-Q filed. Check financials.
AI Summary
Intuitive Surgical Inc. reported its first quarter 2024 results, ending March 31, 2024. The company's revenue for the quarter was not explicitly stated in this header, but it is a 10-Q filing, indicating a regular financial update. The filing was made on April 19, 2024.
Why It Matters
This filing provides investors with the latest financial performance data for Intuitive Surgical, a key player in the medical device industry, impacting its stock valuation and future investment decisions.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags in the provided header information.
Key Numbers
- N/A — Revenue (Specific revenue figures are not detailed in the provided header.)
- 2024-03-31 — Reporting Period End (Indicates the end of the fiscal quarter for which financial data is reported.)
- 2024-04-19 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- INTUITIVE SURGICAL INC (company) — Filer
- 0001035267-24-000137.txt (document) — Filing document name
- 20240419 (date) — Filing date
- 20240331 (date) — Reporting period end date
FAQ
What were Intuitive Surgical's total revenues for the quarter ended March 31, 2024?
The provided header information does not contain specific revenue figures for the quarter ended March 31, 2024.
What is the company's SIC code?
The company's Standard Industrial Classification (SIC) code is 3842, for Orthopedic, Prosthetic & Surgical Appliances & Supplies.
In which state was Intuitive Surgical incorporated?
Intuitive Surgical Inc. was incorporated in Delaware (DE).
What is the company's primary business address?
The company's business address is 1020 Kifer Road, Sunnyvale, CA 94086.
What is the SEC file number for Intuitive Surgical?
The SEC file number for Intuitive Surgical Inc. is 000-30713.
Filing Stats: 4,567 words · 18 min read · ~15 pages · Grade level 8.4 · Accepted 2024-04-19 09:00:40
Key Financial Figures
- $0.001 — ich registered Common Stock, par value $0.001 per share ISRG The Nasdaq Global Select
Filing Documents
- isrg-20240331.htm (10-Q) — 1400KB
- q124ex-311xceocertofsoxsec.htm (EX-31.1) — 11KB
- q124ex-312xcfocertofsoxsec.htm (EX-31.2) — 10KB
- q124ex-321xceocertofsoxsec.htm (EX-32.1) — 5KB
- q124ex-322xcfocertofsoxsec.htm (EX-32.2) — 5KB
- 0001035267-24-000137.txt ( ) — 8373KB
- isrg-20240331.xsd (EX-101.SCH) — 48KB
- isrg-20240331_cal.xml (EX-101.CAL) — 101KB
- isrg-20240331_def.xml (EX-101.DEF) — 232KB
- isrg-20240331_lab.xml (EX-101.LAB) — 647KB
- isrg-20240331_pre.xml (EX-101.PRE) — 453KB
- isrg-20240331_htm.xml (XML) — 1564KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION Item 1.
Financial Statements (unaudited)
Financial Statements (unaudited): Condensed Consolidated Balance Sheets as of March 31, 2024 , and December 31, 2023 3 Condensed Consolidated Statements of Comprehensive Income for the three months ended March 31, 2024 , and 2023 4 Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 , and 2023 5 Notes to C ondensed C onsolidated F inancial S tatements 6 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 44 Item 4.
Controls and Procedures
Controls and Procedures 44
OTHER INFORMATION
PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 45 Item 1A.
Risk Factors
Risk Factors 45 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 45 Item 3. Defaults Upon Senior Securities 45 Item 4. Mine Safety Disclosures 45 Item 5. Other Information 45 Item 6. Exhibits 46 Signature 47 2
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS INTUITIVE SURGICAL, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) in millions (except par values) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 2,839.5 $ 2,750.1 Short-term investments 1,960.6 2,473.1 Accounts receivable, net 1,127.9 1,130.2 Inventory 1,299.3 1,220.6 Prepaids and other current assets 405.4 314.0 Total current assets 7,632.7 7,888.0 Property, plant, and equipment, net 3,799.6 3,537.6 Long-term investments 2,522.6 2,120.0 Deferred tax assets 917.8 910.5 Intangible and other assets, net 607.1 636.7 Goodwill 348.2 348.7 Total assets $ 15,828.0 $ 15,441.5 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 194.4 $ 188.7 Accrued compensation and employee benefits 238.4 436.4 Deferred revenue 437.5 446.1 Other accrued liabilities 504.8 587.5 Total current liabilities 1,375.1 1,658.7 Other long-term liabilities 406.5 385.5 Total liabilities 1,781.6 2,044.2 Contingencies (Note 8) Stockholders' equity: Preferred stock, 2.5 shares authorized, $ 0.001 par value, issuable in series; zero shares issued and outstanding as of March 31, 2024, and December 31, 2023 — — Common stock, 600.0 shares authorized, $ 0.001 par value, 354.7 shares and 352.3 shares issued and outstanding as of March 31, 2024, and December 31, 2023, respectively 0.4 0.4 Additional paid-in capital 8,903.0 8,576.4 Retained earnings 5,067.9 4,743.0 Accumulated other comprehensive loss ( 8.7 ) ( 12.2 ) Total Intuitive Surgical, Inc. stockholders' equity 13,962.6 13,307.6 Noncontrolling interest in joint venture 83.8 89.7 Total stockholders' equity 14,046.4 13,397.3 Total liabilities and stockholders' equity $ 15,828.0 $ 15,441.5 The accompanying notes are an integral part of these Condensed Consolidated Financial Statements (Unaudited). 3 INTUITIVE SURGICAL, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) Three Months Ended