Intuitive Surgical, Inc. (NASDAQ: ISRG), the industry leader in robotic-assisted surgery, today announced certain unaudited preliminary fourth quarter and full year 2015 financial results ahead of its participation at the 34th Annual JP Morgan Healthcare Conference on January 13-14, 2016, in San Francisco, California.

The Company expects revenue for the fourth quarter of 2015 of approximately $677 million, an increase of approximately 12% compared with $605 million for the fourth quarter of 2014. The Company expects 2015 revenue of approximately $2.4 billion, an increase of approximately 12% compared with $2.1 billion for 2014. GAAP and non-GAAP revenue are the same for the fourth quarter of 2015. Non-GAAP revenue for the fourth quarter of 2014 was $601 million. The unaudited preliminary results are prior to the completion of the Company’s annual independent audit and therefore are subject to adjustment.

*** consensus is $650.32 million.

Preliminary fourth quarter 2015 instrument and accessory revenue increased approximately 16% to approximately $326 million compared with $281 million for the fourth quarter of 2014. Full year 2015 instrument and accessory revenue increased approximately 12% to approximately $1.2 billion. Fourth quarter and full year 2015 instrument and accessory revenue growth was driven primarily by da Vinci procedure growth.

In 2015, approximately 652,000 surgical procedures were performed with the da Vinci Surgical System, an increase of approximately 14% compared with approximately 570,000 procedures performed in 2014. The growth in overall 2015 procedure volume was primarily driven by the growth in U.S. general surgery procedures and worldwide urologic procedures. da Vinci procedures increased approximately 15% for the fourth quarter of 2015 compared with the fourth quarter of 2014. The Company expects total da Vinci procedures to grow approximately 9% to 12% in 2016.

Preliminary fourth quarter 2015 da Vinci Surgical Systems revenue increased approximately 8% to approximately $231 million from $214 million for the fourth quarter of 2014. Systems revenue for 2015 increased approximately 14% to approximately $722 million compared with $633 million in 2014. The Company shipped 158 da Vinci Surgical Systems in the fourth quarter of 2015, compared with 137 systems in the fourth quarter of 2014. 16 of the fourth quarter 2015 da Vinci Systems were shipped under operating lease arrangements, compared with 5 in the fourth quarter of 2014. The Company shipped 492 da Vinci Surgical Systems in 2015, compared with 431 systems in 2014.

Preliminary fourth quarter 2015 service revenue of $120 million increased approximately 9% compared with $110 million in the fourth quarter of 2014. Preliminary 2015 service revenue increased approximately 8% to approximately $465 million compared with $429 million in 2014.

Additional unaudited preliminary revenue and procedure information has been posted to the Investor Relations section of the Intuitive Surgical website at: http://phx.corporate-ir.net/phoenix.zhtml?c=122359&p=irol-IRHome.

The Company is scheduled to present at the 2016 JP Morgan Healthcare Conference on January 14, 2016, at 9:00 a.m. Pacific Time. The Company is scheduled to report its fourth quarter 2015 results during a conference call on January 21, 2016, at which point the Company will discuss the 2015 financial results in more detail. Dial-in and webcast access information for both of these events are also available in the Investor Relations section of the Intuitive Surgical website.