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INTUITIVE Intuitive Announces Second Quarter Earnings July 20 , 2021 SUNNYVALE , Calif . , July 20 , 2021 ( GLOBE NEWSWIRE ) Intuitive ( the " Company " ) ( Nasdaq : ISRG ) , a global technology leader in minimally invasive care and the pioneer of robotic - assisted surgery , today announced financial results for the quarter ended June 30 , 2021 . Q2 Highlights -- • Worldwide da Vinci procedures grew approximately 68 % compared with the second quarter of 2020. The second quarter of 2020 reflected significant disruption caused by the COVID - 19 pandemic , and the second quarter of 2021 reflected a continued recovery in procedures and also included the performance of a number of procedures that were deferred during the pandemic . The compound annual growth rate between the second quarter of 2019 and the second quarter of 2021 was 16.5 % . • The Company shipped 328 da Vinci Surgical Systems , an increase of 84 % compared with 178 in the second quarter of 2020 . • The Company grew its da Vinci Surgical System installed base to 6,335 systems as of June 30 , 2021 , an increase of 10 % compared with 5,764 as of the end of the second quarter of 2020 . • Second quarter 2021 revenue of $ 1.46 billion increased 72 % compared with $ 0.85 billion in the second quarter of 2020 . The compound annual growth rate between the second quarter of 2019 and the second quarter of 2021 was 15 % . • Second quarter 2021 GAAP net income was $ 517 million , or $ 4.25 per diluted share , compared with $ 68 million , or $ 0.57 per diluted share , in the second quarter of 2020 . • Second quarter 2021 non - GAAP * net income was $ 477 million , or $ 3.92 per diluted share , compared with $ 132 million , or $ 1.11 per diluted share , in the second quarter of 2020 . Q2 Financial Summary Gross profit , income from operations , net income , net income per diluted share , and diluted shares are reported on a GAAP and non - GAAP * basis . The non - GAAP * measures are described below and are reconciled to the corresponding GAAP measures at the end of this release . Second quarter 2021 revenue was $ 1.46 billion , an increase of 72 % compared with $ 0.85 billion in the second quarter of 2020. The compound annual growth rate between the second quarter of 2019 and the second quarter of 2021 was 15 % . Higher second quarter revenue was driven by growth in da Vinci procedures and system placements . In conjunction with the Company's 2020 COVID - 19 Customer Relief Program , second quarter 2020 revenue was reduced by $ 59 million for service fee credits provided to customers . Second quarter 2021 instruments and accessories revenue increased by 73 % to $ 796 million , compared with $ 461 million in the second quarter of 2020 , primarily driven by approximately 68 % growth in da Vinci procedure volume . Second quarter 2021 systems revenue increased by 68 % to $ 440 million , compared with $ 261 million in the second quarter of 2020. The Company shipped 328 da Vinci Surgical Systems in the second quarter of 2021 , compared with 178 systems in the second quarter of 2020. The second quarter 2021 system shipments included 108 systems shipped under operating lease and usage - based arrangements , compared with 52 systems in the second quarter of 2020 . Second quarter 2021 GAAP income from operations increased to $ 511 million , compared with $ 81 million in the second quarter of 2020. Second quarter 2021 GAAP income from operations included share - based compensation expense of $ 110 million , compared with $ 96 million in the second quarter of 2020. Second quarter 2021 non - GAAP * income from operations increased to $ 630 million , compared with $ 193 million in the second quarter of 2020 . Second quarter 2021 GAAP net income was $ 517 million , or $ 4.25 per diluted share , compared with $ 68 million , or $ 0.57 per diluted share , in the second quarter of 2020. Second quarter 2021 GAAP net income included excess tax benefits of $ 44 million , or $ 0.36 per diluted share , compared with $ 32 million , or $ 0.26 per diluted share , in the second quarter of 2020. Second quarter 2021 GAAP net income also included an income tax benefit from re - measurement of certain deferred tax assets of $ 66 million , or $ 0.55 per diluted share . This benefit is excluded from non - GAAP net income . Second quarter 2021 non - GAAP * net income was $ 477 million , or $ 3.92 per diluted share , compared with $ 132 million , or $ 1.11 per diluted share , in the second quarter of 2020. Second quarter 2020 GAAP and non - GAAP * net income included a discrete tax expense of $ 37 million , or $ 0.31 per diluted share , arising from the conclusion of a tax matter . The Company ended the second quarter of 2021 with $ 7.7 billion in cash , cash equivalents , and investments , an increase of $ 504 million during the quarter , primarily driven by cash generated from operations . " We are pleased with our second quarter procedure growth and financial results , which reflect both the demand for high - quality minimally invasive procedures as well as a return to surgeries deferred during the pandemic , ” said Intuitive CEO Gary Guthart . Additional supplemental financial and procedure information has been posted to the Investor Relations section of the Intuitive website at https://isrg.gcs-web.com/ .