Company: ISRG
Filing Date: 2025-10-22
Form Type: 10-Q
Source: 0001035267-25-000209
Chunk: 68

Company: INTUITIVE SURGICAL INC
Filing Date: 2025-10-22
Form: 10-Q
Item: Item 1
Chunk 68
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 continued demand for additional capacity by our customers as a result of procedure growth as well as increased demand for our next-generation da Vinci 5 system, including the impact from customers beginning to trade in fourth-generation da Vinci systems. As of September 30, 2025, we had a da Vinci surgical system installed base of approximately 10,763 systems, compared to an installed base of approximately 9,539 systems as of September 30, 2024. The incremental system installed base reflects continued procedure growth and further customer validation that robotic-assisted surgery addresses their Quintuple Aim objectives.

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

Three Months Ended September 30,20252024Da Vinci System Placements under Leasing ArrangementsFixed-payment operating lease arrangements116 79 Usage-based operating lease arrangements115 141 Total da Vinci system placements under operating lease arrangements231 220 % of Total da Vinci system placements54%58%Sales-type lease arrangements12 13 Total da Vinci system placements under leasing arrangements243 233 Da Vinci System Installed Base under Operating Leasing ArrangementsFixed-payment operating lease arrangements1,379 1,289 Usage-based operating lease arrangements1,736 1,352 Total da Vinci system installed base under operating leasing arrangements3,115 2,641 

Operating lease revenue, including the contribution from Ion systems, was $223 million for the three months ended September 30, 2025, of which $138 million was variable lease revenue related to usage-based arrangements, compared to $168 million for the three months ended September 30, 2024, of which $87 million was variable lease revenue related to usage-based arrangements. Revenue from Lease Buyouts was $22 million for the three months ended September 30, 2025, compared to $24 million for the three months ended September 30, 2024. We expect revenue from Lease Buyouts to fluctuate period to period depending on the timing of when, and if, customers choose to exercise buyout options embedded in their leases.

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The da Vinci surgical system ASP, excluding systems placed under fixed-payment or usage-based operating lease arrangements, Ion systems, and the impact of specified-price trade-in rights, was approximately $1.60 million for the three months ended September 30, 2025, compared to approximately $1.51 million for the three months ended September 30, 2024. The higher third quarter 2025 ASP was