Company: ISRG
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0001035267-25-000192
Chunk: 72

Company: INTUITIVE SURGICAL INC
Filing Date: 2025-07-23
Form: 10-Q
Item: Item 1
Chunk 72
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 during the six months ended June 30, 2024. By geography, 92 systems were placed in the U.S., six in Europe, two in Asia, and three in other markets during six months ended June 30, 2025, compared to 138 systems placed in the U.S. and six in Europe during the six months ended June 30, 2024. In the U.S., where we estimate that penetration of lung biopsy is approaching the halfway point, our customers’ focus has begun to shift from increasing capacity to increasing utilization of their existing systems. As of June 30, 2025, we had an Ion system installed base of approximately 905 systems, compared to an installed base of approximately 678 systems as of June 30, 2024.

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The following table summarizes our Ion system placements and systems installed at customers under leasing arrangements:

Six Months Ended June 30,20252024Ion System Placements under Leasing ArrangementsFixed-payment operating lease arrangements27 42 Usage-based operating lease arrangements36 37 Total Ion system placements under operating lease arrangements63 79 % of Total Ion system placements61%55%Sales-type lease arrangements5 — Total Ion system placements under leasing arrangements68 79 Ion System Installed Base under Operating Leasing ArrangementsFixed-payment operating lease arrangements127 116 Usage-based operating lease arrangements231 159 Total Ion system installed base under operating leasing arrangements358 275 

Service Revenue

Service revenue increased by 23% to $391 million for the three months ended June 30, 2025, compared to $317 million for the three months ended June 30, 2024. The increase in service revenue was primarily driven by a larger installed base of systems producing service revenue and higher revenue from operating lease arrangements.

Service revenue increased by 20% to $754 million for the six months ended June 30, 2025, compared to $631 million for the six months ended June 30, 2024. The increase in service revenue was primarily driven by a larger installed base of systems producing service revenue and higher revenue from operating lease arrangements.

Gross Profit

Product

Product gross profit for the three months ended June 30, 2025, increased by 18% to $1.36 billion, representing 66.5% of product revenue, compared to $1.15 billion, representing 68.1% of product revenue, for the three months ended June 30,