Intuitive Surgical’s Revenue by Segment (2018-2021)

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This statistic highlights Intuitive Surgical’s Revenue by Segment from Q1 2018 onwards, split across Instruments and Accessories, Operating Lease, Services, and Systems, reported on a quarterly basis.
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This statistic highlights Intuitive Surgical’s Revenue by Segment from Q1 2018 onwards, split across Instruments and Accessories, Operating Lease, Services, and Systems, reported on a quarterly basis.

Intuitive Surgical’s Revenue by Segment 

Revenue By Segment  Q3 2020  Q2 2021  Q3 2021 Revenue Mix by Segment in Q3 2021
Instruments and Accessories $630.5 $796.4 $755.4 51%
Operating Lease $45.9 $67.3 $72.5 5%
Services $179.4 $228.0 $232.7 16%
Systems $267.8 $439.6 $415.2 28%
Total $1,123.6 $1,531.3 $1,475.8 100%

(all figures are in millions, except percentages)

There has been an increase in the overall revenue of Intuitive Surgical from $1,123.6 million in Q3 2020 to $1,475.8 million in Q3 2021, growing by approximately 31.35% on a year-on-year basis. However, overall revenue declined by 3.62% on a quarter-on-quarter basis when compared to $1,531.3 million in Q2 2021.

Instruments and accessories

Intuitive Surgical offers a wide range of instruments and accessories. It manufactures a variety of instruments, most of which have EndoWrist technology with wristed joints for natural dexterity and tips, customized for surgical procedures. Instrument tips include forceps, scissors, electrocautery tools, scalpels, and other instruments used in open surgery and conventional MIS. EndoWrist Stapler is a wristed, stapling instrument used for resection, transection, and creation of anastomoses.

Revenue generated from this segment increased from $630.5 million in Q3 2020 to $755.4 million in Q3 2021, growing by 19.8% on a year-on-year basis. However, there has been a decline in revenue from $796.4 million in Q2 2021 to $755.4 million in Q3 2021, falling by 5.148% quarterly. The instrument and accessory segment is the major contributor to the overall revenue of the company, contributing 51%.

Operating Lease

The company enters into operating lease arrangements directly with customers as a way to offer them flexibility in how they acquire systems and expand their robotic-assisted programs. These leases have a comparatively competitive term as compared with third-party entities that offer equipment leases.

Revenue from operating lease segment increased significantly, from $45.9 million in Q3 2020 to $72.5 million in Q3 2021, growing by 57.95% on a year-on-year basis. It also grew by 7.726% quarterly, when compared to $67.3 million in Q2 2021. It contributes 5% to the company’s total revenue.

Services

Services contracts are made at the time systems are sold or leased at an annual fee, ranging from $80,000 to $190,000 depending on the configuration of the underlying system and composition of services offered. Service revenue is recognized over the term of the service period as the customer benefits from the services throughout the term of the contract.

Revenue from this segment increased from $179.4 million in Q3 2020 to $232.7 million in Q3 2021, growing by 29.71% on a year-on-year basis. It grew by 2.06% quarterly, when compared to $228 million in Q2 2021. It contributes 16% tot eh company’s total revenue.

Systems

Intuitive Surgical has two systems, the Da Vinci Surgical Systems and the Ion endoluminal system.  The Da Vinci Surgical System consist of surgeon consoles, a patient-side cart, a high-performing vision system, and proprietary instruments which enable the surgeons to operate comfortably viewing a 3-D image of the surgical field. The Ion system is a flexible, robotic-assisted, catheter-based platform designed to navigate through a very small lung airway to reach peripheral nodules for biopsies.

Revenue increased from $267.8 million in Q3 2020 to $415.2 million in Q3 2021, growing by 55.04% on a year-on-year basis. But there was a decline in revenue from $439.6 million in Q2 2021 to $415.2 million in Q3 2021, by 5.55% quarterly. It contributes 28% to the company’s revenue.

About the company

Intuitive Surgical is an American corporation that was founded in the year 1995 and headquartered in Sunnyvale, California. The company is engaged in developing and manufacturing futuristic products to solve the major challenges the healthcare sector faces. The products and services offered by the company help physicians and healthcare providers improve the quality of minimally invasive care. The common stock of the company is publicly-traded on the NASDAQ under the symbol “ISRG” and is a component of the NASDAQ-100 and S&P 500.

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