Intuitive Surgical released its fourth quarter and full-year financial results for 2017.
Here are five things to know:
1. The company’s fourth quarter revenue spiked 17.9 percent to $892.4 million compared to the same quarter in 2016. Intuitive Surgical reported growth due to its instrument and accessories, services and systems business lines.
2. Intuitive Surgical saw $3.12 billion in full-year 2017 revenues. Its instruments and accessories brought in 52.3 percent of the revenue followed by systems, 29.1 percent, and services, 18.6 percent.
3. Intuitive Surgical reported a 17 percent increase in procedures for the fourth quarter, as well. Internationally, Intuitive Surgical’s procedures improved by 21 percent year-over-year.
4. In the fourth quarter of 2017, Intuitive Surgical shipped 216 da Vinci Surgical Systems, compared to 163 in the same quarter of 2016.
5. Intuitive Surgical ended the fourth quarter of 2017 with $3.7 billion in cash, cash equivalents and investments. The company projects revenue growth of 11 percent to 15 percent for 2018.