Filing Flows › Intuitive Surgical (ISRG) › Q1 2025
Intuitive Surgical (ISRG) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 23, 2025
Intuitive Surgical (ISRG) reported revenue of $2.3B for the first quarter 2025 (Q1 2025), +19% from a year earlier and -7% from the quarter before. Operating margin was 25.7%, net earnings $698M (31.0% of revenue).
Intuitive Surgical, Q1 2025: revenue $2.3B (+19% year over year), operating margin 25.7%, net earnings $698M, operating cash flow $582M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.3B | -7% | +19% |
| Gross profit | $1.5B | -11% | +17% |
| Operating profit | $578M | -21% | +23% |
| Net earnings | $698M | +2% | +28% |
| Operating cash flow | $582M | -29% | +119% |
| Free cash flow | $465M | -9% | 20× |
What changed
Revenue was $2.3B in Q1 2025, up 19% year over year and down 7% from the previous quarter. Instruments and accessories was the largest line at 61% of revenue. Instruments and accessories added $0.21B year over year (up 18%), 58% of the total change.
Gross margin was 64.7%, down 1.2 points from a year earlier. Operating profit was $0.58B, a 25.7% margin (up 0.8 points year over year). Of the extra revenue versus a year earlier, 30% reached operating profit, above the 25% margin then. Operating expenses grew 13% against revenue growth of 19%. The fastest-growing cost line was SG&A (+15%). Net earnings were $0.70B, up 28% year over year. The effective tax rate was -5.3%.
Operating cash flow was $0.58B (up 119% year over year), 83% of net earnings. Non-cash charges added back $0.19B of share-based compensation. Working capital and other items used $0.31B. Capital expenditures of $0.12B left free cash flow of $0.47B.
Questions
What was Intuitive Surgical's revenue in the first quarter 2025?
Intuitive Surgical (ISRG) reported revenue of $2.3B for the first quarter 2025 (Q1 2025), +19% from a year earlier and -7% from the quarter before.
Was Intuitive Surgical profitable in the first quarter 2025?
Operating profit was $578M (25.7% of revenue) and net earnings $698M.
Source: Intuitive Surgical 10-Q on SEC EDGAR.