Company: ISRG
Filing Date: 2025-10-22
Form Type: 10-Q
Source: 0001035267-25-000209
Chunk: 118

Company: INTUITIVE SURGICAL INC
Filing Date: 2025-10-22
Form: 10-Q
Item: Item 2
Chunk 118
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 $1.51 million for the three months ended September 30, 2024. The higher third quarter 2025 ASP was largely driven by favorable product mix, including from da Vinci 5 system placements, partially offset by higher pricing discounts and more trade-ins. 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 third quarter of 2025, 50 Ion systems were placed compared to 58 systems during the third quarter of 2024. By geography, 41 systems were placed in the U.S., 5 in Europe, and 4 in Asia during third quarter of 2025, compared to 53 systems placed in the U.S. and 3 in Europe during the third quarter of 2024. In the U.S., where we estimate that penetration of lung biopsy is approaching the halfway point, our customers’ focus has begun to shift from increasing capacity to increasing utilization of their existing systems. As of September 30, 2025, we had an Ion system installed base of approximately 954 systems, compared to an installed base of approximately 736 systems as of September 30, 2024.

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

Three Months Ended September 30,20252024Ion System Placements under Leasing ArrangementsFixed-payment operating lease arrangements11 19 Usage-based operating lease arrangements6 17 Total Ion system placements under operating lease arrangements17 36 % of Total Ion system placements34%62%Sales-type lease arrangements5 2 Total Ion system placements under leasing arrangements22 38 Ion System Installed Base under Operating Leasing ArrangementsFixed-payment operating lease arrangements123 117 Usage-based operating lease arrangements239 179 Total Ion system installed base under operating leasing arrangements362 296 

Nine Months Ended September 30, 2025

Product revenue increased by 21% to $6.05 billion for the nine months ended September 30, 2025, compared to $4.98 billion for the nine months ended September 30, 2024.

Instruments and accessories revenue increased by 19% to $4.36 billion for the nine months ended September 30, 2025, compared to $3.67 billion for the nine months ended September 30, 2024. The increase in instruments and accessories revenue was primarily driven by approximately 18% higher da