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1、SectionPage No.Trended Unaudited Quarterly and Annual Condensed Consolidated Statements of Income(GAAP)and Other Metrics 2Trended Unaudited Quarterly and Annual Non-GAAP Financial Measures3Trended Unaudited Quarterly and Annual Procedures,Revenue,and Related Metrics-Total Company4Trended Unaudited Q

2、uarterly and Annual Procedures,Revenue,and Related Metrics-U.S.6Trended Unaudited Quarterly and Annual Procedures,Revenue,and Related Metrics-Outside of U.S.7Reconciliation of Unaudited GAAP to Non-GAAP Financial Measures8INTUITIVE SURGICAL,INC.TABLE OF CONTENTSCondensed Consolidated Statements of I

3、ncomeRevenue$1,696.2$1,755.9$1,743.7$1,928.3$1,890.6$2,009.9$2,038.1$2,413.5$2,253.4$7,124.1$8,352.1$2,253.4 Gross Profit 1,113.0 1,171.9 1,167.2 1,277.4 1,245.4 1,372.7 1,373.9 1,642.2 1,457.7 4,729.5 5,634.2 1,457.7 Gross Profit Margin65.6%66.7%66.9%66.2%65.9%68.3%67.4%68.0%64.7%66.4%67.5%64.7%Sel

4、ling,General and Administrative(“SG&A”)Expenses 480.5 464.3 452.0 567.1 491.5 525.3 510.6 612.6 563.4 1,963.9 2,140.0 563.4 Research and Development(“R&D”)Expenses 244.9 244.4 249.4 260.1 284.5 280.1 286.0 294.7 316.2 998.8 1,145.3 316.2 Total Operating Expenses 725.4 708.7 701.4 827.2 776.0 805.4 7

5、96.6 907.3 879.6 2,962.7 3,285.3 879.6 Income from Operations 387.6 463.2 465.8 450.2 469.4 567.3 577.3 734.9 578.1 1,766.8 2,348.9 578.1 Operating Margin22.9%26.4%26.7%23.3%24.8%28.2%28.3%30.4%25.7%24.8%28.1%25.7%Interest and Other Income,Net 34.2 36.0 56.2 65.7 69.1 87.2 93.7 74.9 90.4 192.1 324.9

6、 90.4 Income Before Taxes 421.8 499.2 522.0 515.9 538.5 654.5 671.0 809.8 668.5 1,958.9 2,673.8 668.5 Income Tax Expense(Benefit)61.0 73.2 102.2 (94.8)(8.9)123.0 100.4 121.8 (35.2)141.6 336.3 (35.2)Effective Tax Rate14.5%14.7%19.6%(18.4)%(1.7)%18.8%15.0%15.0%(5.3)%7.2%12.6%(5.3)%Net Income 360.8 426

7、.0 419.8 610.7 547.4 531.5 570.6 688.0 703.7 1,817.3 2,337.5 703.7 Less:Net Income Attributable to Noncontrolling Interest in Joint Venture 5.5 5.2 4.1 4.5 2.5 4.6 5.5 2.3 5.3 19.3 14.9 5.3 Net Income Attributable to Intuitive Surgical,Inc.$355.3$420.8$415.7$606.2$544.9$526.9$565.1$685.7$698.4$1,798

8、.0$2,322.6$698.4 Net Income Per Share Attributable to Intuitive Surgical,Inc.$1.00$1.18$1.16$1.69$1.51$1.46$1.56$1.88$1.92$5.03$6.42$1.92 Diluted Shares Outstanding 356.0 357.3 358.2 358.2 360.5 361.0 362.7 363.9 364.6 357.4 362.0 364.6 Other MetricsCash and Investments$6,579$7,132$7,521$7,343$7,323

9、$7,683$8,312$8,832$9,101$7,343$8,832$9,101 Capital Expenditures and Acquisitions$195.7$186.9$258.0$438.4$243.6$310.3$248.3$313.0$116.6$1,079.0$1,115.2$116.6 Share Repurchases$350.0$66.3$416.3$Headcount 12,452 12,932 13,421 13,676 14,118 14,668 15,333 15,638 16,173 13,676 15,638 16,173 Q123Q223Q323Q4

10、23Q124Q224Q324Q424Q125FY23FY24FY25 YTDIntuitive Surgical,Inc.Trended Unaudited Quarterly and Annual Condensed Consolidated Statements of Income(GAAP)and Other Metrics(in millions,except per share data and headcount)2023-2025Page 2 of 10Q123Q223Q323Q423Q124Q224Q324Q424Q125FY23FY24FY25 YTDNon-GAAP Gro

11、ss Profit Margin67.2%68.5%68.8%68.0%67.6%70.0%69.1%69.5%66.4%68.1%69.1%66.4%Non-GAAP SG&A Expenses$411.5$394.0$383.3$484.3$422.2$438.1$432.7$522.2$482.2$1,673.1$1,815.2$482.2 Non-GAAP R&D Expenses$194.1$191.4$193.5$205.5$226.4$214.0$220.2$228.5$246.9$784.5$889.1$246.9 Non-GAAP Operating Margin31.5%3

12、5.2%35.8%32.2%33.3%37.5%37.0%38.4%34.1%33.6%36.7%34.1%Non-GAAP Income Before Taxes$569.3$659.4$681.6$688.1$702.5$833.5$849.5$1,015.3$858.5$2,598.4$3,400.8$858.5 Non-GAAP Net Income Attributable to Intuitive Surgical,Inc.$436.9$507.0$524.0$573.6$541.1$641.0$669.1$804.7$661.5$2,041.5$2,655.9$661.5 Non

13、-GAAP Net Income Per Share Attributable to Intuitive Surgical,Inc.$1.23$1.42$1.46$1.60$1.50$1.78$1.84$2.21$1.81$5.71$7.34$1.81 Diluted Shares Outstanding 356.0 357.3 358.2 358.2 360.5 361.0 362.7 363.9 364.6 357.4 362.0 364.6 Intuitive Surgical,Inc.Trended Unaudited Quarterly and Annual Non-GAAP Fin

14、ancial Measures(#)(in millions,except per share data)2023-2025Page 3 of 10Revenue and Related MetricsInstruments and Accessories Revenue(millions)$985.6$1,075.9$1,071.4$1,143.7$1,158.9$1,244.4$1,264.2$1,411.5$1,367.7$4,276.6$5,079.0$1,367.7 Year-over-year growth22%20%23%22%18%16%18%23%18%22%19%18%Qu

15、arter-over-quarter growth(decline)5%9%7%1%7%2%12%(3)%Year-over-year da Vinci procedure growth26%22%19%21%16%17%18%18%17%22%17%17%Quarter-over-quarter da Vinci procedure growth6%5%8%2%6%1%8%1%Service Revenue(millions)$283.2$287.3$292.9$304.4$313.5$317.3$328.9$347.4$363.0$1,167.8$1,307.1$363.0 Year-ov

16、er-year growth14%14%13%16%11%10%12%14%16%14%12%16%Quarter-over-quarter growth8%1%2%4%3%1%4%6%4%Operating Lease Revenue(millions)$112.0$122.7$127.1$138.7$148.0$156.9$167.8$181.5$195.2$500.5$654.2$195.2 Year-over-year growth35%32%30%35%32%28%32%31%32%33%31%32%Quarter-over-quarter growth9%10%4%9%7%6%7%

17、8%8%Total Recurring Revenue(millions)(1)$1,380.8$1,485.9$1,491.4$1,586.8$1,620.4$1,718.6$1,760.9$1,940.4$1,925.9$5,944.9$7,040.3$1,925.9 Year-over-year growth21%20%21%21%17%16%18%22%19%21%18%19%Quarter-over-quarter growth(decline)6%8%6%2%6%2%10%(1)%Recurring Revenue81%85%86%82%86%86%86%80%85%83%84%8

18、5%Systems Revenue(millions)$427.4$392.7$379.4$480.2$418.2$448.2$445.0$654.6$522.7$1,679.7$1,966.0$522.7 Year-over-year growth(decline)%5%(11)%6%(2)%14%17%36%25%17%25%Quarter-over-quarter growth(decline)(5)%(8)%(3)%27%(13)%7%(1)%47%(20)%Total Revenue(millions)(2)$1,696.2$1,755.9$1,743.7$1,928.3$1,890

19、.6$2,009.9$2,038.1$2,413.5$2,253.4$7,124.1$8,352.1$2,253.4 Year-over-year growth14%15%12%17%11%14%17%25%19%14%17%19%Quarter-over-quarter growth(decline)2%4%(1)%11%(2)%6%1%18%(7)%(1)We present operating lease revenue,which is classified as systems revenue,as a component of total recurring revenue.(2)

20、Total revenue consists of instruments and accessories revenue,service revenue,and systems revenue.Q123Q223Q323Q423Q124Q224Q324Q424Q125FY23FY24FY25 YTDIntuitive Surgical,Inc.Trended Unaudited Quarterly and Annual Procedures,Revenue,and Related MetricsTotal Company2023-2025Page 4 of 10Q123Q223Q323Q423

21、Q124Q224Q324Q424Q125FY23FY24FY25 YTDInstalled System Base RollforwardBeginning da Vinci Installed System Base 7,544 7,779 8,042 8,285 8,606 8,887 9,203 9,539 9,902 7,544 8,606 9,902 Systems Placed:Dual Console da Vinci X Systems 1 1 2 3 2 4 5 Single Console da Vinci X Systems 51 45 34 46 38 38 47 47

22、 38 176 170 38 Dual Console da Vinci Xi Systems 74 76 79 99 58 44 45 76 40 328 223 40 Single Console da Vinci Xi Systems 176 197 181 251 185 165 156 164 123 805 670 123 Dual Console da Vinci 5 Systems 4 8 46 35 58 35 Single Console da Vinci 5 Systems 8 66 102 128 112 304 112 Da Vinci SP Systems 10 1

23、2 16 19 24 21 21 30 19 57 96 19 Total System Units Placed*312 331 312 415 313 341 379 493 367 1,370 1,526 367 Trade-Ins,Lease Upgrades,and Retirements*(77)(68)(69)(94)(32)(25)(43)(130)(80)(308)(230)(80)Ending da Vinci Installed System Base*7,779 8,042 8,285 8,606 8,887 9,203 9,539 9,902 10,189 8,606

24、 9,902 10,189*Da Vinci Systems Placed under Fixed-Payment Operating Lease Arrangements(Included in Total System Units Placed)69 73 70 92 65 83 79 82 91 304 309 91*Percentage of da Vinci Systems Placed under Fixed-Payment Operating Lease Arrangements22%22%22%22%21%24%21%17%25%22%20%25%*Da Vinci Syste

25、ms Placed under Usage-Based Operating Lease Arrangements(Included in Total System Units Placed)62 91 93 109 94 92 141 140 107 355 467 107*Percentage of da Vinci Systems Placed under Usage-Based Operating Lease Arrangements20%27%30%26%30%27%37%28%29%26%31%29%*Da Vinci Installed System Base under Fixe

26、d-Payment Operating Lease Arrangements 1,052 1,108 1,151 1,204 1,223 1,261 1,289 1,307 1,308 1,204 1,307 1,308*Percentage of da Vinci Installed System Base under Fixed-Payment Operating Lease Arrangements14%14%14%14%14%14%14%13%13%14%13%13%*Da Vinci Installed System Base under Usage-Based Operating

27、Lease Arrangements 728 817 913 1,023 1,112 1,208 1,352 1,492 1,598 1,023 1,492 1,598*Percentage of da Vinci Installed System Base under Usage-Based Operating Lease Arrangements9%10%11%12%13%13%14%15%16%12%15%16%Ending Ion Installed System Base 376 435 490 534 604 678736805853 534 805 853*During the

28、fourth quarters of 2024 and 2023,we performed a verification audit of our installed base records that identified 54 and 41 systems,respectively,mostly older S and Si models,which had been retired.We removed these systems from our installed base estimate during the fourth quarters of 2024 and 2023,re

29、spectively.Intuitive Surgical,Inc.Trended Unaudited Quarterly and Annual Procedures,Revenue,and Related Metrics(continued)Total Company2023-2025Page 5 of 10Revenue and Related MetricsInstruments and Accessories Revenue(millions)$701.4$763.3$775.7$819.4$822.4$891.4$904.8$1,007.8$963.8$3,059.8$3,626.4

30、$963.8 Year-over-year growth27%22%21%19%17%17%17%23%17%22%19%17%Quarter-over-quarter growth(decline)2%9%2%6%8%2%11%(4)%Year-over-year da Vinci procedure growth26%19%17%17%14%14%16%15%13%19%15%13%Quarter-over-quarter da Vinci procedure growth(decline)3%5%9%5%1%8%(2)%Service Revenue(millions)$186.7$18

31、9.4$188.5$198.7$203.6$203.5$209.2$224.1$238.5$763.3$840.4$238.5 Year-over-year growth13%13%8%13%9%7%11%13%17%12%10%17%Quarter-over-quarter growth6%1%5%2%3%7%6%Systems Revenue(millions)$221.8$189.8$216.0$237.9$212.5$224.3$265.4$420.4$335.9$865.5$1,122.6$335.9 Year-over-year growth(decline)(11)%(13)%(

32、18)%1%(4)%18%23%77%58%(10)%30%58%Quarter-over-quarter growth(decline)(6)%(14)%14%10%(11)%6%18%58%(20)%Total Revenue(millions)$1,109.9$1,142.5$1,180.2$1,256.0$1,238.5$1,319.2$1,379.4$1,652.3$1,538.2$4,688.6$5,589.4$1,538.2 Year-over-year growth15%13%9%14%12%15%17%32%24%13%19%24%Quarter-over-quarter g

33、rowth(decline)1%3%3%6%(1)%7%5%20%(7)%Installed System Base RollforwardBeginning da Vinci Installed System Base 4,563 4,668 4,805 4,943 5,111 5,243 5,385 5,582 5,807 4,563 5,111 5,807 Systems Placed:Single Console da Vinci X Systems 2 2 3 3 1 1 4 2 1 10 8 1 Dual Console da Vinci Xi Systems 32 51 56 6

34、4 36 17 28 36 18 203 117 18 Single Console da Vinci Xi Systems 100 96 88 130 94 54 71 62 34 414 281 34 Dual Console da Vinci 5 Systems 4 8 45 35 57 35 Single Console da Vinci 5 Systems 8 66 102 126 111 302 111 Da Vinci SP Systems 7 8 12 12 9 7 6 13 5 39 35 5 Total System Units Placed*141 157 159 209

35、 148 149 219 284 204 666 800 204 Trade-Ins,Lease Upgrades,and Retirements*(36)(20)(21)(41)(16)(7)(22)(59)(54)(118)(104)(54)Ending da Vinci Installed System Base 4,668 4,805 4,943 5,111 5,243 5,385 5,582 5,807 5,957 5,111 5,807 5,957*Da Vinci Systems Placed under Fixed-Payment Operating Lease Arrange

36、ments(Included in Total System Units Placed)31 31 28 41 25 28 35 37 46 131 125 46*Da Vinci Systems Placed under Usage-Based Operating Lease Arrangements(Included in Total System Units Placed)52 90 83 109 86 86 134 131 94 334 437 94 Ending Ion Installed System Base 375 433 488 531 597 669 722 784 828

37、 531 784 828*During the fourth quarters of 2024 and 2023,we performed a verification audit of our installed base records that identified 25 and 20 systems,respectively,mostly older S and Si models,which had been retired.We removed these systems from our installed base estimate during the fourth quar

38、ters of 2024 and 2023,respectively.Q123Q223Q323Q423Q124Q224Q324Q424Q125FY23FY24FY25 YTDIntuitive Surgical,Inc.Trended Unaudited Quarterly and Annual Procedures,Revenue,and Related MetricsUnited States2023-2025Page 6 of 10Revenue and Related MetricsInstruments and Accessories Revenue(millions)$284.2$

39、312.6$295.7$324.3$336.5$353.0$359.4$403.7$403.9$1,216.8$1,452.6$403.9 Year-over-year growth9%16%30%28%18%13%22%24%20%20%19%20%Quarter-over-quarter growth(decline)13%10%(5)%10%4%5%2%12%Year-over-year da Vinci procedure growth28%28%24%29%20%22%24%25%24%27%23%24%Quarter-over-quarter da Vinci procedure

40、growth14%5%1%7%7%6%2%8%6%Service Revenue(millions)$96.5$97.9$104.4$105.7$109.9$113.8$119.7$123.3$124.5$404.5$466.7$124.5 Year-over-year growth16%17%23%20%14%16%15%17%13%19%15%13%Quarter-over-quarter growth10%1%7%1%4%4%5%3%1%Systems Revenue(millions)$205.6$202.9$163.4$242.3$205.7$223.9$179.6$234.2$18

41、6.8$814.2$843.4$186.8 Year-over-year growth(decline)14%29%1%12%10%10%(3)%(9)%14%4%(9)%Quarter-over-quarter growth(decline)(5)%(1)%(19)%48%(15)%9%(20)%30%(20)%Total Revenue(millions)$586.3$613.4$563.5$672.3$652.1$690.7$658.7$761.2$715.2$2,435.5$2,762.7$715.2 Year-over-year growth12%20%19%21%11%13%17%

42、13%10%18%13%10%Quarter-over-quarter growth(decline)5%5%(8)%19%(3)%6%(5)%16%(6)%Installed System Base RollforwardBeginning da Vinci Installed System Base 2,981 3,111 3,237 3,342 3,495 3,644 3,818 3,957 4,095 2,981 3,495 4,095 Systems Placed:Dual Console da Vinci X Systems 1 1 2 3 2 4 5 Single Console

43、 da Vinci X Systems 49 43 31 43 37 37 43 45 37 166 162 37 Dual Console da Vinci Xi Systems 42 25 23 35 22 27 17 40 22 125 106 22 Single Console da Vinci Xi Systems 76 101 93 121 91 111 85 102 89 391 389 89 Dual Console da Vinci 5 Systems 1 1 Single Console da Vinci 5 Systems 2 1 2 1 Da Vinci SP Syst

44、ems 3 4 4 7 15 14 15 17 14 18 61 14 Total System Units Placed*171 174 153 206 165 192 160 209 163 704 726 163 Trade-Ins,Lease Upgrades,and Retirements*(41)(48)(48)(53)(16)(18)(21)(71)(26)(190)(126)(26)Ending da Vinci Installed System Base 3,111 3,237 3,342 3,495 3,644 3,818 3,957 4,095 4,232 3,495 4

45、,095 4,232*Da Vinci Systems Placed under Fixed-Payment Operating Lease Arrangements(Included in Total System Units Placed)38 42 42 51 40 55 44 45 45 173 184 45*Da Vinci Systems Placed under Usage-Based Operating Lease Arrangements(Included in Total System Units Placed)10 1 10 8 6 7 9 13 21 30 13 End

46、ing Ion Installed System Base 1 2 2 3 7 9 14 21 25 3 21 25*During the fourth quarters of 2024 and 2023,we performed a verification audit of our installed base records that identified 29 and 21 systems,respectively,mostly older S and Si models,which had been retired.We removed these systems from our

47、installed base estimate during the fourth quarters of 2024 and 2023,respectively.Q123Q223Q323Q423Q124Q224Q324Q424Q125FY23FY24FY25 YTDIntuitive Surgical,Inc.Trended Unaudited Quarterly and Annual Procedures,Revenue,and Related MetricsOutside of the United States2023-2025Page 7 of 10Q123Q223Q323Q423Q1

48、24Q224Q324Q424Q125FY23FY24FY25 YTDGAAP gross profit$1,113.0$1,171.9$1,167.2$1,277.4$1,245.4$1,372.7$1,373.9$1,642.2$1,457.7$4,729.5$5,634.2$1,457.7 Share-based compensation expense 23.5 27.3 29.5 29.3 29.1 29.7 31.3 33.6 36.2 109.6 123.7 36.2 Long-term incentive plan expense 0.4 0.3 0.1 0.3 0.3 0.1

49、0.2 0.2 0.3 1.1 0.8 0.3 Amortization of intangible assets 3.4 3.5 3.7 3.8 3.8 3.7 2.4 2.4 2.4 14.4 12.3 2.4 Non-GAAP gross profit$1,140.3$1,203.0$1,200.5$1,310.8$1,278.6$1,406.2$1,407.8$1,678.4$1,496.6$4,854.6$5,771.0$1,496.6 Non-GAAP gross profit margin(1)67.2%68.5%68.8%68.0%67.6%70.0%69.1%69.5%66.

50、4%68.1%69.1%66.4%GAAP SG&A expenses$480.5$464.3$452.0$567.1$491.5$525.3$510.6$612.6$563.4$1,963.9$2,140.0$563.4 Share-based compensation expense(66.2)(66.9)(71.3)(67.0)(66.6)(78.3)(76.3)(77.7)(80.2)(271.4)(298.9)(80.2)Long-term incentive plan expense(1.9)(2.6)(0.6)(1.6)(1.9)(0.9)(1.0)(1.0)(0.5)(6.7)

51、(4.8)(0.5)Amortization of intangible assets(0.9)(0.8)(0.8)(0.8)(0.8)(0.8)(0.6)(0.2)(0.5)(3.3)(2.4)(0.5)Facilities asset abandonment charge (13.4)(13.4)Litigation(charges)recoveries 4.0 (7.2)(12.6)4.0 (19.8)Gains on sale of business 1.1 1.1 Non-GAAP SG&A expenses$411.5$394.0$383.3$484.3$422.2$438.1$4

52、32.7$522.2$482.2$1,673.1$1,815.2$482.2 GAAP R&D expenses$244.9$244.4$249.4$260.1$284.5$280.1$286.0$294.7$316.2$998.8$1,145.3$316.2 Share-based compensation expense(50.1)(52.3)(55.3)(54.1)(57.6)(65.6)(65.3)(65.7)(68.8)(211.8)(254.2)(68.8)Amortization of intangible assets(0.7)(0.7)(0.6)(0.5)(0.5)(0.5)

53、(0.5)(0.5)(0.5)(2.5)(2.0)(0.5)Non-GAAP R&D expenses$194.1$191.4$193.5$205.5$226.4$214.0$220.2$228.5$246.9$784.5$889.1$246.9 GAAP income from operations$387.6$463.2$465.8$450.2$469.4$567.3$577.3$734.9$578.1$1,766.8$2,348.9$578.1 Share-based compensation expense 139.8 146.5 156.1 150.4 153.3 173.6 172

54、.9 177.0 185.2 592.8 676.8 185.2 Long-term incentive plan expense 2.3 2.9 0.7 1.9 2.2 1.0 1.2 1.2 0.8 7.8 5.6 0.8 Amortization of intangible assets 5.0 5.0 5.1 5.1 5.1 5.0 3.5 3.1 3.4 20.2 16.7 3.4 Facilities asset abandonment charge 13.4 13.4 Litigation charges(recoveries)(4.0)7.2 12.6 (4.0)19.8 Ga

55、ins on sale of business (1.1)(1.1)Non-GAAP income from operations$534.7$617.6$623.7$621.0$630.0$754.1$754.9$927.7$767.5$2,397.0$3,066.7$767.5 Non-GAAP operating margin(2)31.5%35.2%35.8%32.2%33.3%37.5%37.0%38.4%34.1%33.6%36.7%34.1%GAAP income before taxes$421.8$499.2$522.0$515.9$538.5$654.5$671.0$809

56、.8$668.5$1,958.9$2,673.8$668.5 Share-based compensation expense 139.8 146.5 156.1 150.4 153.3 173.6 172.9 177.0 185.2 592.8 676.8 185.2 Long-term incentive plan expense 2.3 2.9 0.7 1.9 2.2 1.0 1.2 1.2 0.8 7.8 5.6 0.8 Amortization of intangible assets 5.0 5.0 5.1 5.1 5.1 5.0 3.5 3.1 3.4 20.2 16.7 3.4

57、 Facilities asset abandonment charge 13.4 13.4 Litigation charges(recoveries)(4.0)7.2 12.6 (4.0)19.8 Gains on sale of business (1.1)(1.1)(Gains)losses on strategic investments 0.4 5.8 1.7 1.4 3.4 (7.8)0.9 12.7 0.6 9.3 9.2 0.6 Non-GAAP income before taxes$569.3$659.4$681.6$688.1$702.5$833.5$849.5$1,0

58、15.3$858.5$2,598.4$3,400.8$858.5 GAAP net income attributable to Intuitive Surgical,Inc.$355.3$420.8$415.7$606.2$544.9$526.9$565.1$685.7$698.4$1,798.0$2,322.6$698.4 Share-based compensation expense 139.8 146.5 156.1 150.4 153.3 173.6 172.9 177.0 185.2 592.8 676.8 185.2 Long-term incentive plan expen

59、se 2.3 2.9 0.7 1.9 2.2 1.0 1.2 1.2 0.8 7.8 5.6 0.8 Amortization of intangible assets 5.0 5.0 5.1 5.1 5.1 5.0 3.5 3.1 3.4 20.2 16.7 3.4 Facilities asset abandonment charge 13.4 13.4 Litigation charges(recoveries)(4.0)7.2 12.6 (4.0)19.8 Gains on sale of business (1.1)(1.1)(Gains)losses on strategic in

60、vestments 0.4 5.8 1.7 1.4 3.4 (7.8)0.9 12.7 0.6 9.3 9.2 0.6 Tax adjustments(64.8)(73.8)(51.0)(204.1)(167.0)(64.5)(74.0)(86.0)(226.6)(393.7)(391.5)(226.6)Adjustments attributable to noncontrolling interest in joint venture(1.1)(0.2)(0.3)(0.7)(0.8)(0.4)(0.5)(0.5)(0.3)(2.3)(2.2)(0.3)Non-GAAP net income

61、 attributable to Intuitive Surgical,Inc.$436.9$507.0$524.0$573.6$541.1$641.0$669.1$804.7$661.5$2,041.5$2,655.9$661.5 Non-GAAP net income per share attributable to Intuitive Surgical,Inc.-diluted$1.23$1.42$1.46$1.60$1.50$1.78$1.84$2.21$1.81$5.71$7.34$1.81 Diluted shares outstanding 356.0 357.3 358.2

62、358.2 360.5 361.0 362.7 363.9 364.6 357.4 362.0 364.6(1)Non-GAAP gross profit margin is calculated by dividing non-GAAP gross profit by revenue.(2)Non-GAAP operating margin is calculated by dividing non-GAAP income from operations divided by revenue.Intuitive Surgical,Inc.Reconciliation of Unaudited

63、 GAAP to Non-GAAP Financial Measures(#)(in millions,except per share data)2023-2025Page 8 of 10This information is supplemental to the first quarter 2025 earnings press release issued by Intuitive Surgical,Inc.,on April 22,2025,and should be read in conjunction with that release and the Companys Qua

64、rterly Report on Form 10-Q for the period ended March 31,2025,when filed with the U.S.Securities and Exchange Commission.(#)About Non-GAAP Financial MeasuresTo supplement our consolidated financial statements,which are prepared and presented in accordance with accounting principles generally accepte

65、d in the United States(“GAAP”),we use the following non-GAAP financial measures:non-GAAP gross profit,non-GAAP gross profit margin,non-GAAP SG&A expenses,non-GAAP research and development(“R&D”)expenses,non-GAAP income from operations,non-GAAP operating margin,non-GAAP income before taxes,non-GAAP n

66、et income attributable to Intuitive Surgical,Inc.,and non-GAAP net income per diluted share attributable to Intuitive Surgical,Inc.(“EPS”).The presentation of this financial information is not intended to be considered in isolation or as a substitute for,or superior to,the financial information prep

67、ared and presented in accordance with GAAP.We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons.We believe that these non-GAAP financial measures provide meaningful supplemental information regarding our perfor

68、mance by excluding items such as amortization of intangible assets,share-based compensation(“SBC”)and long-term incentive plan expenses,and other special items.Long-term incentive plan expense relates to phantom share awards granted in China by our Intuitive-Fosun joint venture,to its employees that

69、 vest over four years and can remain outstanding for seven to ten years.These awards are valued based on certain key performance metrics.Accordingly,they are subject to significant volatility based on the performance of these metrics and are not tied to performance of our business within the period.

70、We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning,forecasting,and analyzing future periods.These non-GAAP financial measures also facilitate managements internal comparisons to our historical perfo

71、rmance.We believe that these non-GAAP financial measures are useful to investors,because(1)they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making,and(2)they are used by institutional investors and the analyst community to h

72、elp them analyze the performance of our business.Non-GAAP gross profit.We define non-GAAP gross profit as gross profit,excluding SBC and long-term incentive plan expenses,and amortization of intangible assets.Non-GAAP SG&A expenses.We define non-GAAP SG&A expenses as SG&A expenses,excluding SBC and

73、long-term incentive plan expenses,amortization of intangible assets,a facilities asset abandonment charge,litigation charges and recoveries,and gains on the sale of a business.Non-GAAP R&D expenses.We define non-GAAP R&D expenses as R&D expenses,excluding SBC expenses and amortization of intangible

74、assets.Non-GAAP income from operations.We define non-GAAP income from operations as income from operations,excluding SBC and long-term incentive plan expenses,amortization of intangible assets,a facilities asset abandonment charge,litigation charges and recoveries,and gains on the sale of a business

75、.Non-GAAP income before taxes.We define non-GAAP income before taxes as income before taxes,excluding SBC and long-term incentive plan expenses,amortization of intangible assets,a facilities asset abandonment charge,litigation charges and recoveries,gains on the sale of a business,and gains(losses)o

76、n strategic investments.Non-GAAP net income attributable to Intuitive Surgical,Inc.and EPS.We define non-GAAP net income as net income attributable to Intuitive Surgical,Inc.,excluding SBC and long-term incentive plan expenses,amortization of intangible assets,a facilities asset abandonment charge,l

77、itigation charges and recoveries,gains on the sale of a business,gains(losses)on strategic investments,tax adjustments,including excess tax benefits or deficiencies associated with SBC arrangements,one-time tax benefits from re-measurement of Swiss deferred tax assets,a one-time tax benefit from rec

78、eipt of certain tax assets by our Swiss entity,and the net tax effects related to intra-entity transfers of non-inventory assets,and adjustments attributable to noncontrolling interest in joint venture,net of the related tax effects.We exclude a one-time tax benefit from re-measurement of certain de

79、ferred tax assets,because it is discrete in nature,and exclude the excess tax benefits or deficiencies associated with SBC arrangements as well as the tax effects associated with non-cash amortization of deferred tax assets related to intra-entity non-inventory transfers,because we do not believe th

80、ese items correlate with the on-going results of our core operations.The tax effects of the non-GAAP items are determined by applying a calculated non-GAAP effective tax rate,which is commonly referred to as the with-and-without method.Without excluding these tax effects,investors would only see the

81、 gross effect that these non-GAAP adjustments had on our operating results.Our calculated non-GAAP effective tax rate is generally higher than our GAAP effective tax rate.We define non-GAAP EPS as non-GAAP net Page 9 of 10income attributable to Intuitive Surgical,Inc.divided by diluted shares outsta

82、nding,which are calculated as GAAP weighted-average outstanding shares plus dilutive potential shares outstanding during the period.There are a number of limitations related to the use of non-GAAP measures versus measures calculated in accordance with GAAP.Non-GAAP gross profit,non-GAAP SG&A expense

83、s,non-GAAP R&D expenses,non-GAAP income from operations,non-GAAP income before taxes,non-GAAP net income attributable to Intuitive Surgical,Inc.,and non-GAAP EPS exclude items such as amortization of intangible assets,re-measurement of contingent consideration,SBC and long-term incentive plan expens

84、es,excess tax benefits or deficiencies associated with SBC arrangements,and non-cash amortization of deferred tax assets related to intra-entity transfer of non-inventory assets,which are primarily recurring items.SBC expense has been,and will continue to be for the foreseeable future,a significant

85、recurring expense in our business.In addition,the components of the costs that we exclude in our calculation of non-GAAP net income attributable to Intuitive Surgical,Inc.and non-GAAP EPS may differ from the components that our peer companies exclude when they report their results of operations.Mana

86、gement addresses these limitations by providing specific information regarding the GAAP amounts excluded from non-GAAP net income attributable to Intuitive Surgical,Inc.and non-GAAP EPS and evaluating non-GAAP net income attributable to Intuitive Surgical,Inc.and non-GAAP EPS together with net income attributable to Intuitive Surgical,Inc.and net income per share attributable to Intuitive Surgical,Inc.calculated in accordance with GAAP.Page 10 of 10