Intuitive Surgical Reports 21% Revenue Growth to $2.44 Billion in Q2 2025

Intuitive Surgical, Inc. reported significant financial growth in its latest quarterly results, with total revenue reaching $2.44 billion for the three months ended June 30, 2025, marking a 21% increase from $2.01 billion in the same period last year. The company's product revenue rose to $2.05 billion, up 21% year-over-year, driven by an 18% increase in instruments and accessories revenue, which totaled $1.47 billion, and a 28% increase in systems revenue, which reached $575 million. For the first half of 2025, total revenue was $4.69 billion, a 20% increase compared to $3.90 billion in the first half of 2024.

The company also reported a net income of $658.4 million for the second quarter, up from $526.9 million in the prior year, resulting in diluted earnings per share of $1.81, compared to $1.46 in the same quarter of 2024. Operating income increased by 31% to $743 million, reflecting a strong operational performance despite a slight decline in gross profit margin, which fell to 66.3% from 68.3% a year earlier, primarily due to higher costs associated with the phased launch of the new da Vinci 5 surgical system and increased overhead costs.

Operationally, Intuitive Surgical placed 395 da Vinci surgical systems in the second quarter, a notable increase from 341 systems in the same quarter of 2024. The installed base of da Vinci systems grew to approximately 10,488, a 14% increase year-over-year. The company also reported a 17% increase in da Vinci procedures performed, totaling approximately 775,000 in the second quarter. The Ion endoluminal system also saw growth, with 35,300 procedures performed, reflecting a 52% increase compared to the previous year.

In terms of strategic developments, Intuitive Surgical is in the process of launching its da Vinci 5 surgical system, which has received regulatory clearances in multiple markets, including the U.S., Japan, and Europe. The company is also expanding its presence in international markets, with a focus on increasing adoption rates in Asia and Europe. As of June 30, 2025, the company had $9.53 billion in cash, cash equivalents, and investments, an increase from $8.83 billion at the end of 2024, providing a strong liquidity position to support ongoing growth initiatives.

Looking ahead, Intuitive Surgical anticipates continued growth in both U.S. and international markets, driven by increasing procedure volumes and the adoption of its advanced surgical systems. However, the company acknowledges potential challenges from macroeconomic factors, including inflation, supply chain disruptions, and geopolitical tensions, which could impact future performance. The company remains committed to investing in research and development to enhance its product offerings and maintain its competitive edge in the minimally invasive surgical market.