ISRG Q1 2020 Earnings Report — Intuitive Surgical, Inc. Revenue & Financial Results | Market Cap Arena

Intuitive Surgical, Inc.ISRG

Q1 2020 Earnings

Reported April 17, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2020	Q4 2019	Q1 2019	QoQ Change	YoY Change
Revenue	$1.1B	—	$974M	—	12.9%
Op. Income	$283M	—	$252M	—	12.2%
Gross Margin	67.1%	—	68.8%	—	-1.6pp
Net Margin	28.5%	—	31.5%	—	-3.0pp
EPS (Diluted)	$0.87	—	$0.85	—	2.4%
Free Cash Flow	$248M	—	$218M	—	13.4%

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$361M
GROSS PROFIT	$738M
R&D Expenses	$147M
Selling & Marketing	$0
General & Administrative	$308M
SG&A Expenses	$308M
Other Expenses	$0
Operating Expenses	$455M
Cost & Expenses	$817M
OPERATING INCOME	$283M
Interest Income	$25M
Interest Expense	$0
Other Income/Expenses	$25M
INCOME BEFORE TAX	$308M
Income Tax Expense	-$8M
Net Income from Continuing Ops	$316M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$314M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$314M
D&A	$63M
EBIT	$283M
EBITDA	$346M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$361M
GROSS PROFIT	$738M
R&D Expenses	$147M
Selling & Marketing	$0
General & Administrative	$308M
SG&A Expenses	$308M
Other Expenses	$0
Operating Expenses	$455M
Cost & Expenses	$817M
OPERATING INCOME	$283M
Interest Income	$25M
Interest Expense	$0
Other Income/Expenses	$25M
INCOME BEFORE TAX	$308M
Income Tax Expense	-$8M
Net Income from Continuing Ops	$316M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$314M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$314M
D&A	$63M
EBIT	$283M
EBITDA	$346M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$316M
Depreciation & Amortization	$63M
Stock-Based Compensation	$91M
Deferred Income Tax	$65M
Other Non-Cash Items	$4M
Change in Working Capital	-$186M
OPERATING CASH FLOW	$353M
Capital Expenditure	-$105M
Acquisitions (Net)	-$38M
Purchases of Investments	-$690M
Sales/Maturities of Investments	$716M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$117M
Net Debt Issuance	$0
Common Stock Repurchased	-$100M
Common Dividends Paid	$0
Other Financing Activities	-$170M
NET CASH FROM FINANCING	-$179M
FREE CASH FLOW	$248M
Net Change in Cash	$56M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.2B
Short-Term Investments	$2.0B
Net Receivables	$528M
Inventory	$620M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$4.7B
PP&E (Net)	$1.4B
Goodwill	$335M
Intangible Assets	$488M
Long-Term Investments	$2.6B
Tax Assets	$365M
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$5.2B
TOTAL ASSETS	$9.9B
Account Payables	$133M
Short-Term Debt	$0
Deferred Revenue	$337M
Other Current Liabilities	$198M
TOTAL CURRENT LIABILITIES	$946M
Long-Term Debt	$0
Deferred Revenue NC	$29M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$386M
TOTAL NON-CURRENT LIABILITIES	$415M
TOTAL LIABILITIES	$1.4B
Common Stock	$100.0K
Additional Paid-In Capital	$5.9B
Retained Earnings	$2.6B
Treasury Stock	$0
Accum. Other Comp. Income	$9M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$8.5B
Minority Interest	$24M
TOTAL EQUITY	$8.6B
TOTAL LIABILITIES & EQUITY	$9.9B
Total Debt	$0
Net Debt	-$1.2B