Company: ISRG
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0001035267-25-000109
Chunk: 59

Company: INTUITIVE SURGICAL INC
Filing Date: 2025-04-23
Form: 10-Q
Item: Item 1
Chunk 59
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 approximately 24%, driven by growth in general surgery procedures, most notably colorectal and hernia repair procedures, urologic procedures, most notably prostatectomy and partial nephrectomy procedures, and gynecologic procedures, most notably hysterectomy procedures. Geographically, the first quarter 2025 OUS da Vinci procedure growth was driven by several markets with particular strength in the UK, India, and South Korea.

Systems revenue increased by 25% to $523 million for the three months ended March 31, 2025, compared to $418 million for the three months ended March 31, 2024. The higher first quarter 2025 system revenue was primarily driven by an increase in da Vinci system placements, higher operating lease revenue, higher first quarter 2025 ASPs, and higher lease buyout revenue, partially offset by a higher proportion of da Vinci system placements under operating leases.

During the first quarter of 2025, 367 da Vinci surgical systems were placed compared to 313 systems during the first quarter of 2024. By geography, 204 systems were placed in the U.S., 88 in Europe, 52 in Asia, and 23 in other markets during the first quarter of 2025, compared to 148 systems placed in the U.S., 84 in Europe, 56 in Asia, and 25 in other markets during the first quarter of 2024. The increase in system placements was primarily driven by continued demand for additional capacity by our customers as a result of procedure growth as well as 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 March 31, 2025, we had a da Vinci surgical system installed base of approximately 10,189 systems, compared to an installed base of approximately 8,887 systems as of March 31, 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 March 31,20252024Da Vinci System Placements under Leasing ArrangementsFixed-payment operating lease arrangements91 65 Usage-based operating lease arrangements107 94 Total da Vinci system placements under operating lease arrangements198 159 % of Total da Vinci system placements54%51%Sales-type lease arrangements10 6 Total da Vinci system placements under leasing arrangements208