Company: ISRG
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0001035267-25-000109
Chunk: 1

Company: INTUITIVE SURGICAL INC
Filing Date: 2025-04-23
Form: 10-Q
Item: Item 1
Chunk 1
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51.3)Total Intuitive Surgical, Inc. stockholders’ equity17,106.4 16,433.7 Noncontrolling interest in joint venture101.3 95.9 Total stockholders’ equity17,207.7 16,529.6 Total liabilities and stockholders’ equity$19,220.4 $18,743.2 

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements (Unaudited).

3

INTUITIVE SURGICAL, INC.CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(UNAUDITED)

Three Months Ended March 31,in millions (except per share amounts)20252024Revenue:Product$1,890.4 $1,577.1 Service363.0 313.5 Total revenue2,253.4 1,890.6 Cost of revenue:Product670.7 554.4 Service125.0 90.8 Total cost of revenue795.7 645.2 Gross profit1,457.7 1,245.4 Operating expenses:Selling, general and administrative563.4 491.5 Research and development316.2 284.5 Total operating expenses879.6 776.0 Income from operations578.1 469.4 Interest and other income, net90.4 69.1 Income before taxes668.5 538.5 Income tax benefit(35.2)(8.9)Net income703.7 547.4 Less: net income attributable to noncontrolling interest in joint venture5.3 2.5 Net income attributable to Intuitive Surgical, Inc.$698.4 $544.9 Net income per share attributable to Intuitive Surgical, Inc.:Basic$1.95 $1.54 Diluted$1.92 $1.51 Shares used in computing net income per share attributable to Intuitive Surgical, Inc.:Basic357.5 353.5 Diluted364.6 360.5 Other comprehensive income, net of tax:Unrealized gains (losses) on hedge instruments$(10.4)$5.6 Unrealized gains (losses) on available-for-sale securities29.1 (4.2)Foreign currency translation gains5.5 1.8 Employee benefit plan