Company: ISRG
Filing Date: 2025-10-22
Form Type: 10-Q
Source: 0001035267-25-000209
Chunk: 33

Company: INTUITIVE SURGICAL INC
Filing Date: 2025-10-22
Form: 10-Q
Item: Item 1
Chunk 33
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, because the effect of including such shares would have been anti-dilutive in the periods presented.

NOTE 13.     SEGMENT INFORMATION

Intuitive is committed to advancing minimally invasive care through a comprehensive ecosystem of products and services. This connected ecosystem includes systems, instruments and accessories, learning, and services connected by a digital portfolio that enables actionable digital insights across the care continuum. The systems, as well as the instruments and accessories, are primarily developed and manufactured by Intuitive. For the three months ended September 30, 2025, and 2024, U.S. revenue accounted for 69% and 68%, respectively, of total revenue, while OUS revenue accounted for 31% and 32%, respectively, of total revenue. For the nine months ended September 30, 2025, and 2024, U.S. revenue accounted for 68% and 66%, respectively, of total revenue, while OUS revenue accounted for 32% and 34%, respectively, of total revenue. The Company manages the business activities on a consolidated basis and operates in one reportable segment. Intuitive’s Chief Executive Officer is the Chief Operating Decision Maker (“CODM”). The CODM utilizes the Company’s long-range plan, which includes product development roadmaps and long-range financial models, as a key input to resource allocation. The CODM makes decisions on resource allocation, assesses performance of the business, and monitors budget versus actual results using income from operations. Net income is also a measure that is considered in monitoring budget versus actual results.Significant expenses within income from operations, as well as within net income, include cost of revenue, research and development, and selling, general, and administrative expenses, which are each separately presented on the Company’s 

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Consolidated Statements of Income. Other segment items within net income include interest and other income, net, and income tax expense.The Company’s long-lived assets consist primarily of property, plant, and equipment, net. As of September 30, 2025, and December 31, 2024, 81% and 83%, respectively, of long-lived assets were in the U.S. As of September 30, 2025, and December 31, 2024, no individual country other than the U.S. accounted for 10% or more of these assets.

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ITEM 2.    MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Management