Company: ISRG
Filing Date: 2025-10-22
Form Type: 10-Q
Source: 0001035267-25-000209
Chunk: 63

Company: INTUITIVE SURGICAL INC
Filing Date: 2025-10-22
Form: 10-Q
Item: Item 1
Chunk 63
---
 we had $8.43 billion in cash, cash equivalents, and investments. Cash, cash equivalents, and investments decreased by $0.40 billion, compared to $8.83 billion as of December 31, 2024, primarily as a result of cash used for repurchases of common stock, capital expenditures, and taxes paid related to net share settlements of equity awards, partially offset by cash provided by operating activities and proceeds from stock option exercises and employee stock purchases.

40

Results of Operations

The following discussion should be read in conjunction with our unaudited Condensed Consolidated Financial Statements (“Financial Statements”) and Notes thereto.

Certain information from our unaudited Condensed Consolidated Statements of Income has been summarized below (in millions, except percentages):

Three Months Ended September 30,Nine Months Ended September 30, 2025% of TotalRevenue2024% of TotalRevenue2025% of TotalRevenue2024% of TotalRevenueRevenue:Product$2,109.2 84 %$1,709.2 84 %$6,048.4 84 %$4,978.9 84 %Service395.9 16 %328.9 16 %1,150.1 16 %959.7 16 %Total revenue2,505.1 100 %2,038.1 100 %7,198.5 100 %5,938.6 100 %Cost of revenue:Product699.4 28 %555.4 27 %2,056.3 29 %1,649.2 28 %Service143.3 6 %108.8 6 %404.2 6 %297.4 5 %Total cost of revenue842.7 34 %664.2 33 %2,460.5 35 %1,946.6 33 %Product gross profit1,409.8 56 %1,153.8 57 %3,992.1 55 %3,329.7 56 %Service gross profit252.6 10 %220.1 10 %745.9 10 %662.3 11 %Gross profit1,662.4 66 %1,373.9 67 %4,738.0