Intuitive Surgical Reports 23% Revenue Growth to $2.51 Billion in Q3 2025

Intuitive Surgical, Inc. reported a significant increase in financial performance for the third quarter of 2025, with total revenue rising 23% to $2.51 billion, compared to $2.04 billion in the same period last year. This growth was driven by a 20% increase in instruments and accessories revenue, which reached $1.52 billion, and a 33% rise in systems revenue, totaling $590 million. For the nine months ended September 30, 2025, total revenue also increased by 21% to $7.20 billion, with instruments and accessories revenue growing by 19% and systems revenue by 29%. The company attributed this growth to higher da Vinci procedure volumes and an expanding installed base of surgical systems.

In terms of operational metrics, approximately 797,000 da Vinci procedures were performed in the third quarter of 2025, marking a 19% increase from the previous year. The Ion endoluminal system also saw a substantial increase in usage, with procedures rising by 52% to around 37,900. The installed base of da Vinci surgical systems grew to approximately 10,763, a 13% increase from the previous year, while the Ion system installed base reached 954, up 30%. The company placed 427 da Vinci systems during the quarter, including 240 of the new da Vinci 5 systems, reflecting strong demand for advanced surgical technology.

Intuitive Surgical's gross profit margin for the third quarter was 66.4%, slightly down from 67.4% in the prior year, primarily due to increased costs associated with tariffs and the phased launch of the da Vinci 5 system. Operating income increased by 32% to $760 million, with total operating expenses rising to $902.7 million, driven by higher personnel-related costs and litigation expenses. The company repurchased 4 million shares of its common stock for $1.92 billion during the quarter, reflecting its commitment to returning value to shareholders.

Looking ahead, Intuitive Surgical remains optimistic about its growth trajectory, despite potential macroeconomic challenges such as inflation and supply chain disruptions. The company plans to continue investing in product development and expanding its market presence, particularly in international markets where da Vinci procedures are gaining traction. The ongoing rollout of the da Vinci 5 system and the Ion endoluminal system is expected to further enhance the company's competitive position in the minimally invasive surgery market.