Company: ISRG
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0001035267-25-000192
Chunk: 71

Company: INTUITIVE SURGICAL INC
Filing Date: 2025-07-23
Form: 10-Q
Item: Item 1
Chunk 71
---
 additional capacity by our customers as a result of procedure growth 

43

as well as increased demand for our next-generation da Vinci 5 system, including the impact from customers beginning to trade in fourth-generation da Vinci systems.

The following table summarizes our da Vinci system placements and systems installed at customers under leasing arrangements:

Six Months Ended June 30,20252024Da Vinci System Placements under Leasing ArrangementsFixed-payment operating lease arrangements160 148 Usage-based operating lease arrangements231 186 Total da Vinci system placements under operating lease arrangements391 334 % of Total da Vinci system placements51%51%Sales-type lease arrangements16 32 Total da Vinci system placements under leasing arrangements407 366 Da Vinci System Installed Base under Operating Leasing ArrangementsFixed-payment operating lease arrangements1,301 1,261 Usage-based operating lease arrangements1,686 1,208 Total da Vinci system installed base under operating leasing arrangements2,987 2,469 

Operating lease revenue, including the contribution from Ion systems, was $409 million for the six months ended June 30, 2025, of which $242 million was variable lease revenue related to usage-based arrangements, compared to $305 million for the six months ended June 30, 2024, of which $150 million was variable lease revenue related to usage-based arrangements. Revenue from Lease Buyouts was $69 million for the six months ended June 30, 2025, compared to $57 million for the six months ended June 30, 2024. We expect revenue from Lease Buyouts to fluctuate period to period depending on the timing of when, and if, customers choose to exercise buyout options embedded in their leases.

The da Vinci surgical system ASP, excluding systems placed under fixed-payment or usage-based operating lease arrangements, Ion systems, and the impact of specified-price trade-in rights, was approximately $1.55 million for the six months ended June 30, 2025, compared to approximately $1.41 million for the six months ended June 30, 2024. The higher year-to-date 2025 ASP was largely driven by favorable product mix, including from da Vinci 5 system placements, and lower pricing discounts. ASP fluctuates from period to period based on geographic and product mix, product pricing, systems placed involving trade-ins, and changes in foreign exchange rates.

During the six months ended June 30, 2025, 103 Ion systems were placed compared to 144 systems