Company: ISRG
Filing Date: 2025-01-31
Form Type: 10-K
Source: 0001035267-25-000017
Chunk: 249

Company: INTUITIVE SURGICAL INC
Filing Date: 2025-01-31
Form: 10-K
Item: Item 1A
Chunk 249
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 WHICH MAY NOT BE AVAILABLE TO US ON COMMERCIALLY REASONABLE TERMS OR AT ALL. IF WE LOSE ACCESS TO THESE TECHNOLOGIES, OUR REVENUES COULD DECLINE.

Our products may rely on technology that we license from others, including technology that is integral to our products. There is no assurance that we can obtain or retain licenses on acceptable terms or at all. The license agreements we have entered into with several industry partners may be terminated for breach. If any of these agreements are terminated, we may be unable to reacquire the necessary license on satisfactory terms or at all. The failure to obtain, retain, or maintain licenses could prevent or delay further development or commercialization of our products, which may have a material adverse effect on our business, financial condition, or results of operations.

GENERAL RISK FACTORS

OUR FUTURE OPERATING RESULTS MAY BE BELOW EXPECTATIONS, WHICH COULD CAUSE OUR STOCK PRICE TO DECLINE.

Due to the nascent nature of our industry, we have limited insight into trends that may emerge in our market and affect our business. The revenue and income potential of our market are unproven, and we may be unable to maintain or grow our revenue or income. Our products typically have lengthy sales cycles. In addition, our costs may be higher than we anticipated. If we fail to generate sufficient revenues or our costs are higher than we expect, our results of operations may be materially adversely affected. Further, future revenue from sales of our products is difficult to forecast, because the market for new surgical technologies is still evolving. Our results of operations could be impacted by numerous factors, including:

•the extent to which our products achieve and maintain market acceptance;

•actions relating to regulatory matters;

•product quality and supply problems;

•inflationary pressures on the cost of producing and distributing our products;

•our timing and ability to develop our manufacturing and sales and marketing capabilities;

•demand for our products;

•the utilization of our systems placed under usage-based operating lease arrangements;

•the size and timing of particular sales and any collection delays related to those sales;

•the progress of surgical training in the use of our products;

•our ability to develop, introduce, and market new or enhanced versions of our products on a timely basis;

•third-party payor reimbursement policies;

•our ability to protect our proprietary rights and defend against third-party challenges;

•our ability to license additional intellectual property rights; and

•the progress and results of any clinical trials.

Our operating results in any particular