ISRG · Intuitive Surgical
Intuitive Surgical and the da Vinci robot: the stock, 2004 to 2007
2004–2007 · 23.8×
For scale: buying every US stock breakout from 2018 to 2026 with no selection returned a median −22.6% a year later, measured on the 14,674 with a full twelve months of data. How it was measured
Intuitive Surgical's da Vinci surgical robot came with a second business: each system placed brought follow-on sales of instruments, accessories and service. That stream showed in the second quarter of 2004, reported on 27 July: revenue rose 45% to $31.1 million, recurring revenue rose 102% to $13.0 million, or 42% of sales against 30% in the prior-year quarter, and net income was $4.8 million against $0.9 million. The installed base reached 243 systems, up from 177.
Revenue reached $600.8 million in 2007, up 61%. From its April 2004 low to its December 2007 high the stock rose 23.8×. Growth held into 2008: first-quarter revenue, reported on 17 April, was $188.2 million, up 65%. Then it slowed. On 7 January 2009 the company put fourth-quarter revenue growth at 22%, and chief executive Lonnie Smith said system unit sales had been lower than planned, though procedure momentum remained strong.
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Sources: Intuitive Surgical Q2 2004 release · Intuitive Surgical Q4 2007 release, 31 Jan 2008 · Intuitive Surgical Q1 2008 release · BioSpace, preliminary Q4 2008 revenue, 7 Jan 2009. Price figures are split-adjusted, not dividend-adjusted.
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