Company: ISRG
Filing Date: 2025-01-31
Form Type: 10-K
Source: 0001035267-25-000017
Chunk: 29

Company: INTUITIVE SURGICAL INC
Filing Date: 2025-01-31
Form: 10-K
Item: Item 7
Chunk 29
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,026.2 33 %Product gross profit4,731.9 56 %3,914.5 55 %3,497.7 56 %Service gross profit902.3 11 %815.0 11 %698.3 11 %Gross profit5,634.2 67 %4,729.5 66 %4,196.0 67 %Operating expenses:Selling, general and administrative2,140.0 25 %1,963.9 27 %1,739.9 28 %Research and development1,145.3 14 %998.8 14 %879.0 14 %Total operating expenses3,285.3 39 %2,962.7 41 %2,618.9 42 %Income from operations2,348.9 28 %1,766.8 25 %1,577.1 25 %Interest and other income, net324.9 4 %192.1 3 %29.7 1 %Income before taxes2,673.8 32 %1,958.9 28 %1,606.8 26 %Income tax expense336.3 4 %141.6 2 %262.4 4 %Net income2,337.5 28 %1,817.3 26 %1,344.4 22 %Less: net income attributable to noncontrolling interest in joint venture14.9 — %19.3 1 %22.1 1 %Net income attributable to Intuitive Surgical, Inc.$2,322.6 28 %$1,798.0 25 %$1,322.3 21 %

Total Revenue

Total revenue increased by 17% to $8.4 billion for the year ended December 31, 2024, compared to $7.1 billion for the year ended December 31, 2023. Total revenue for the year ended December 31, 2023, increased by 14% compared to $6.2 billion for the year ended December 31, 2022. The increase in total revenue for the year ended December 31, 2024, resulted from 19% higher instruments and accessories revenue, 17%