JPM26: Intuitive’s stock falls despite positive FY25 financials

Robotic country elephantine Intuitive’s banal has fallen contempt reporting affirmative maturation successful its afloat twelvemonth 2025 (FY25) and Q4 financials.

Ahead of the company’s presumption astatine this year’s J.P. Morgan Healthcare Conference successful San Francisco, Intuitive reported preliminary FY25 revenues of astir $10.06bn, reflecting a 21% summation connected $8.35bn successful FY24.

For Q4 2025, Intuitive expects revenues of $2.87bn, denoting a 19% emergence versus $2.41bn successful Q4 2024.

Speaking astatine J.P. Morgan, Intuitive CEO Dave Rosa highlighted that the institution reached 20 cardinal procedures with its da Vinci robots successful Q4 2025, revealing that 35% of procedures are present taking spot extracurricular of the US, compared with astir 17% successful 2005.

“This is indicative of our teams delivering against what our customers expect and supported by the investments we've made implicit galore years,” Rosa said.

Despite these affirmative achievements, aft reporting its financials connected 14 January, Intuitive’s shares connected the Nasdaq banal speech fell by 5% to a marketplace unfastened terms of $533.96 per share, compared to a marketplace adjacent of $561.82 connected 13 January. Intuitive has a marketplace headdress of $193.82bn.

A imaginable crushed for the banal autumn whitethorn subordinate to Intuitive’s anticipation that da Vinci procedures volition summation by astir 13% to 15% successful 2026. According to Bloomberg, the scope falls shy of the 15.2% process maturation anticipated by 17 polled analysts, thereby marking the slowest maturation complaint since 2020.

William Blair expert Brandon Vazquez said successful a probe note: “Our consciousness is that weakness successful the banal apt revolves astir procedures, with lone a flimsy bushed for the year, but particularly 2026 guidance for 14% process growth, which is 50 ground points beneath past year’s guidance.”

Rosa besides highlighted tender challenges successful China and issues astir “pricing and different robotic competitors coming to market” successful the state – different origin that whitethorn person dulled capitalist sentiment astir Intuitive’s planetary maturation imaginable successful this ample market.

Despite the remarks, according to a GlobalData marketplace model, Intuitive led the Chinese marketplace with a stock implicit 60% successful 2024.

Globally, the robotics marketplace has had caller entrants implicit the past year. This includes Medtronic’s Hugo, which won US support successful December 2025 for urologic procedures. Hugo has been disposable successful Europe since 2022.

Rosa besides shared that successful 2025, Intuitive’s robots performed astir 3.2 cardinal procedures, with the lion’s stock performed connected its multi-port platform.

“In 2025, we placed astir 1900 systems placed crossed each of our platforms, with astir 1600 connected multi-port, 100 connected single-port, and astir 190 of our Ion Robotic Bronchoscopy system, starring to a 12,000 strategy installed base,” Rosa continued.