ISRG Q2 2016 Earnings Report — Intuitive Surgical, Inc. Revenue & Financial Results | Market Cap Arena

Intuitive Surgical, Inc.ISRG

Q2 2016 Earnings

Reported July 20, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2016	Q1 2016	Q2 2015	QoQ Change	YoY Change
Revenue	$670M	$595M	—	12.7%	—
Op. Income	$245M	$179M	—	37.1%	—
Gross Margin	70.3%	68.1%	—	2.1pp	—
Net Margin	27.5%	22.9%	—	4.6pp	—
EPS (Diluted)	$0.52	$0.39	—	33.3%	—
Free Cash Flow	$238M	$199M	—	19.8%	—

Revenue Flow

Item	Amount
REVENUE	$670M
Cost of Revenue	$199M
GROSS PROFIT	$471M
R&D Expenses	$55M
Selling & Marketing	$0
General & Administrative	$171M
SG&A Expenses	$171M
Other Expenses	$0
Operating Expenses	$226M
Cost & Expenses	$425M
OPERATING INCOME	$245M
Interest Income	$8M
Interest Expense	$0
Other Income/Expenses	$8M
INCOME BEFORE TAX	$253M
Income Tax Expense	$69M
Net Income from Continuing Ops	$185M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$185M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$185M
D&A	$22M
EBIT	$245M
EBITDA	$268M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$670M
Cost of Revenue	$199M
GROSS PROFIT	$471M
R&D Expenses	$55M
Selling & Marketing	$0
General & Administrative	$171M
SG&A Expenses	$171M
Other Expenses	$0
Operating Expenses	$226M
Cost & Expenses	$425M
OPERATING INCOME	$245M
Interest Income	$8M
Interest Expense	$0
Other Income/Expenses	$8M
INCOME BEFORE TAX	$253M
Income Tax Expense	$69M
Net Income from Continuing Ops	$185M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$185M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$185M
D&A	$22M
EBIT	$245M
EBITDA	$268M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$185M
Depreciation & Amortization	$22M
Stock-Based Compensation	$43M
Deferred Income Tax	$7M
Other Non-Cash Items	$5M
Change in Working Capital	-$11M
OPERATING CASH FLOW	$250M
Capital Expenditure	-$11M
Acquisitions (Net)	$11M
Purchases of Investments	-$581M
Sales/Maturities of Investments	$355M
Other Investing Activities	-$11M
NET CASH FROM INVESTING	-$237M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$1M
NET CASH FROM FINANCING	$201M
FREE CASH FLOW	$238M
Net Change in Cash	$213M

Balance Sheet

Item	Amount
Cash & Equivalents	$4.2B
Short-Term Investments	$0
Net Receivables	$404M
Inventory	$169M
Other Current Assets	$27M
TOTAL CURRENT ASSETS	$4.8B
PP&E (Net)	$440M
Goodwill	$201M
Intangible Assets	$144M
Long-Term Investments	$2.0B
Tax Assets	$127M
Other Non-Current Assets	-$1.8B
TOTAL NON-CURRENT ASSETS	$983M
TOTAL ASSETS	$5.8B
Account Payables	$65M
Short-Term Debt	$0
Deferred Revenue	$234M
Other Current Liabilities	$323M
TOTAL CURRENT LIABILITIES	$599M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$110M
TOTAL NON-CURRENT LIABILITIES	$110M
TOTAL LIABILITIES	$599M
Common Stock	$0
Additional Paid-In Capital	$4.0B
Retained Earnings	$1.2B
Treasury Stock	$0
Accum. Other Comp. Income	$9M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.2B
Minority Interest	$0
TOTAL EQUITY	$5.2B
TOTAL LIABILITIES & EQUITY	$5.8B
Total Debt	$0
Net Debt	-$4.2B