Company: ISRG
Filing Date: 2025-10-22
Form Type: 10-Q
Source: 0001035267-25-000209
Chunk: 75

Company: INTUITIVE SURGICAL INC
Filing Date: 2025-10-22
Form: 10-Q
Item: Item 1
Chunk 75
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53 billion for the nine months ended September 30, 2024. The increase in selling, general, and administrative expenses for the nine months ended September 30, 2025, was primarily driven by higher headcount and personnel-related expenses, including share-based compensation expense and variable compensation, and increased infrastructure costs to support our growth.

Selling, general, and administrative expenses for the three and nine months ended September 30, 2025, included share-based compensation expense of $88.1 million and $256.7 million, respectively, compared with $77.6 million and $225.4 million for the three and nine months ended September 30, 2024, respectively. Selling, general, and administrative expenses for the three and nine months ended September 30, 2025, included intangible assets amortization expense of $0.1 million and $0.7 million, respectively, compared with $0.6 million and $2.2 million for the three and nine months ended September 30, 2024, respectively.

Research and Development Expenses

Research and development costs are expensed as incurred and primarily include costs associated with research and the design, development, testing, and significant enhancement of our products. Our main product development initiatives include multi-port, Ion, and SP platform investments as well as digital products and services and various research projects.

Research and development expenses for the three months ended September 30, 2025, increased by 15% to $329 million, compared to $286 million for the three months ended September 30, 2024. Research and development expenses for the nine months ended September 30, 2025, increased by 13% to $959 million, compared to $851 million for the nine months ended September 30, 2024. The increase in research and development expenses for the three and nine months ended September 30, 2025, was primarily driven by higher headcount and personnel-related expenses, including share-based compensation expense, and other project costs incurred to support a broad set of product development initiatives.

Research and development expenses for the three and nine months ended September 30, 2025, included share-based compensation expense of $77.6 million and $221.3 million, respectively, compared with $65.4 million and $188.7 million for the three and nine months ended September 30, 2024, respectively. Research and development expenses for the three and nine months ended September 30, 2025, included