直觉外科 2025年季度报告

Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filingrequirements for the past 90 days.Yesx No¨ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit suchfiles).Yesx No¨ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or anemerging growth company. See definition of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in PART I. FINANCIAL INFORMATION Item1.Financial Statements (unaudited):Condensed Consolidated Balance Sheets as ofMarch31, 2025, andDecember31, 2024Condensed Consolidated Statements of Comprehensive Income for thethreemonths endedMarch31, 2025, and2024 Condensed Consolidated Statements of Cash Flows for thethreemonths endedMarch31, 2025, and2024Notes toCondensedConsolidatedFinancialStatementsItem2.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem3.Quantitative and Qualitative Disclosures About Market RiskItem4.Controls and Procedures PART II. OTHER INFORMATION Item1.Legal ProceedingsItem1A.Risk FactorsItem2.Unregistered Sales of Equity Securities and Use of ProceedsItem3.Defaults Upon Senior SecuritiesItem4.Mine Safety DisclosuresItem5.Other InformationItem6.ExhibitsSignature INTUITIVE SURGICAL, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS In this report, “Intuitive,” the “Company,” “we,” “us,” and “our” refer to Intuitive Surgical, Inc. and its wholly and majority-ownedsubsidiaries. NOTE 1.DESCRIPTION OF THE BUSINESS Intuitive develops, manufactures, and markets da Vincisurgical systems and the Ion endoluminal system. The Company’s products and related services enable physicians and healthcare providers to improve the quality of and access to minimally invasive care. The da Vincisurgical system is designed to enable surgeons to perform a wide range of surgical procedures within our targeted general surgery, urologic, gynecologic, cardiothoracic, and head and neck specialties and consists of a surgeon console or consoles, a patient-side cart, and a high-performance vision system. The Ion endoluminal system is a flexible, robotic-assisted, catheter-based platform for which the first clearedindication is minimally invasive biopsies in the lung and consists of a system cart, a controller, a catheter, and a vision probe. Both systems usesoftware, instruments, and accessories. NOTE 2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The unaudited Condensed Consolidated Financial Statements (“Financial Statements”) and accompanying notes have been prepared inaccordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulationsof the Securities and Exchange Commission (“SEC”) for interim financial reporting. In the opinion of management, the accompanying Certain information and footnote disclosures typically included in the annual consolidated financial statements have been condensed oromitted. Accordingly, these Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and notesthereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December31, 2024, which was filed with the SEC on The Financial Statements include the results and balances of the Company’s majority-owned joint ventures, Intuitive Surgical-FosunMedical Technology (Shanghai) Co., Ltd. and Intuitive Surgical-Fosun (HongKong) Co., Ltd. (collectively, the “Joint Venture”), with ShanghaiFosun Pharmaceutical (Group) Co., Ltd. (“Fosun Pharma”). The Company holds a controlling financial interest in the Joint Venture, and the Risks and Uncertainties TheCompany’s future results of operations and liquidity could be materially adversely affected by uncertainties surroundingmacroeconomic and geopolitical factors in both the U.S. and globally. These uncertainties include any introduction or modification of tariffs or Recent tariff changes imposed by the U.S. and other countries have created increased risks and uncertainties surrounding the Company’sfuture results of operations. The impact of tariffs in the first quarter of 2025 was not material. However, should universal tariffs be implementedas initially announced in April 2025, the Company anticipates a significant adverse impact on its future costs of revenue, which will impact itsresults of operations. Particularly, the reciprocal im