Company: ISRG
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0001035267-25-000192
Chunk: 76

Company: INTUITIVE SURGICAL INC
Filing Date: 2025-07-23
Form: 10-Q
Item: Item 1
Chunk 76
---
 ended June 30, 2024, respectively. Research and development expenses for the three and six months ended June 30, 2025, included intangible asset-related charges of $2.2 million and $7.8 million, respectively, compared with $0.7 million and $1.2 million for the three and six months ended June 30, 2024, respectively.

Research and development expenses fluctuate with project timing. Based upon our broader set of product development initiatives and the stage of the underlying projects, we expect to continue to make substantial investments in research and development and anticipate that research and development expenses will continue to increase in the future.

46

Interest and Other Income, Net

Interest and other income, net, for the three months ended June 30, 2025, increased by 2% to $88.7 million, compared to $87.2 million for the three months ended June 30, 2024. The increase in interest and other income, net, for the three months ended June 30, 2025, was primarily driven by higher average cash and investment balances, partially offset by unrealized losses on strategic investments (compared to unrealized gains during the three months ended June 30, 2024).

Interest and other income, net, for the six months ended June 30, 2025, increased by 15% to $179 million, compared to $156 million for six months ended June 30, 2024. The increase in interest and other income, net, for the six months ended June 30, 2025, was primarily driven by higher interest income earned due to an increase in average interest rates and higher average cash and investment balances, partially offset by unrealized losses on strategic investments (compared to unrealized gains during the six months ended June 30, 2024).

Income Tax Expense

Income tax expense for the three months ended June 30, 2025, was $167.9 million, or 20.2% of income before taxes, compared to $123.0 million, or 18.8% of income before taxes, for the three months ended June 30, 2024. Income tax expense for the six months ended June 30, 2025, was $132.7 million, or 8.8% of income before taxes, compared to $114.1 million, or 9.6% of income before taxes, for the six months ended June