Company: ISRG
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0001035267-25-000109
Chunk: 99

Company: INTUITIVE SURGICAL INC
Filing Date: 2025-04-23
Form: 10-Q
Item: Item 2
Chunk 99
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Product Revenue

Product revenue increased by 20% to $1.89 billion for the three months ended March 31, 2025, compared to $1.58 billion for the three months ended March 31, 2024.

Instruments and accessories revenue increased by 18% to $1.37 billion for the three months ended March 31, 2025, compared to $1.16 billion for the three months ended March 31, 2024. The increase in instruments and accessories revenue was primarily driven by approximately 17% higher da Vinci procedure volume and approximately 58% higher Ion procedure volume. The first quarter 2025 U.S. da Vinci procedure growth was approximately 13%, driven primarily by strong growth in 

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general surgery procedures, most notably cholecystectomy and hernia repair procedures. The number of U.S. da Vinci bariatric procedures performed continued to decline in the mid-single digits in the first quarter of 2025 compared to the first quarter of 2024. The first quarter 2025 OUS da Vinci procedure growth was 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.