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1、Investor PresentationQ1 2025 2025 Intuitive Surgical Operations,Inc.All rights reserved.All rights reserved.1 2025 Intuitive Surgical Operations,Inc.All rights reserved.2Cautionary note on forward-looking statementsThis presentation contains“forward-looking statements”as defined in the Private Secur

2、ities Litigation Reform Act of 1995 regarding,among other things:future operating and financial performance,product development,and market position and business strategy.The reader is cautioned not to rely on these forward-looking statements.They are based on current expectations of future events.If

3、 underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize,actual results could vary materially from the expectations and projections of Intuitive Surgical,Inc.Risks and uncertainties include,but are not limited to:macroeconomic factors,which could have a materia

4、lly adverse impact on our business,financial condition,or results of operation;reliance on sole and single source suppliers and inability to purchase at acceptable prices a sufficient supply of materials,parts,and components;public health crises or epidemic diseases;litigation,investigations,or othe

5、r legal proceedings;the highly competitive nature of our industry,including customers preference for competitors products or services;market acceptance of our products;inability of hospitals to obtain coverage and reimbursement for procedures using our products or insufficient reimbursement to cover

6、 the costs of purchasing our products;defects in or performance problems of our products,which may result in recalls;significant,uninsured losses;the loss of key personnel or inability to attract and retain other personnel;negative publicity concerning our products or company;and long and variable c

7、apital sales cycles and seasonality in our business.A further list and descriptions of these risks,uncertainties,and other factors can be found in Intuitives Annual Report on Form 10-K,including in the sections captioned“Cautionary Note Regarding Forward-Looking Statements”and“Item 1A.Risk Factors,”

8、and in Intuitives subsequent Quarterly Reports on Form 10-Q and other filings with the U.S.Securities and Exchange Commission.Copies of these filings are available at www.sec.gov,and on request from Intuitive.Any forward-looking statements in this presentation speak only as of the date of this prese

9、ntation.Intuitive does not undertake to update any forward-looking statements as a result of new information or future events or developments.Some products discussed in this presentation may not be available without regulatory clearance.Please check with your local regulatory contact for current sta

10、tus.We believe that minimally invasive care is life-enhancing care.Through ingenuity and intelligent technology,we expand the potential of physicians to heal without constraints.Our missionWe envision a future of care that is less invasive and profoundly better,where diseases are identified early an

11、d treated quickly so patients can get back to what matters most.Our vision 2025 Intuitive Surgical Operations,Inc.All rights reserved.3Advance health equityAccessEquitable quality careEducation and empowermentLower total cost of careClinical costDirect costsClinical variationBetter care team experie

12、nceErgonomicsDedicated teamsOR efficienciesAnalyticsTrainingBetter patient experienceRecoveryConversionsOutpatient vs.inpatientBetter outcomesLength of stayConsistency of outcomesSurgical site infectionsComplicationsReturn to ORReadmissionThe Quintuple Aim 2025 Intuitive Surgical Operations,Inc.All

13、rights reserved.We measure ourselves against the metrics our customers care about41.As of Dec.2024.2.As of Nov.2024.Source:Intuitive earnings.2025 Intuitive Surgical Operations,Inc.All rights reserved.2,680,000+Procedures performed on da Vinci systems in 202417,670,000+Procedures performed on da Vin

14、ci systems to date 14,000+Peer-reviewed articles published in 202443,000+Peer-reviewed articles published to date 21,790+Intuitive systems placed in 202411,040+Intuitive systems in hospitals globally 11,430+Multiport95+Single port270+Ion59,890+Multiport290+Single port850+Ion95,000+Ion procedures per

15、formed in 2024210,000+Ion procedures performed to date500,0001,000,0001,500,0002,000,0002,500,0003,000,000201920202021202220232024Worldwide procedure trend 17%growthGeneral SurgeryUrologyOtherGynecology201920202021202220232024 2025 Intuitive Surgical Operations,Inc.All rights reserved.6 Source:Intui

16、tive 2024 earnings.*da Vinci only.Worldwide capital trend2004006008001,0001,2001,4001,6001,80020202021202220232024 FcstSystem placements1,0002,0003,0004,0005,0006,0007,0008,0009,00010,00011,00020202021202220232024Installed baseGreenfield/IncrementalTrade-inRest-of-worldAsiaUnited StatesEurope2022202

17、1+15%YoY 2025 Intuitive Surgical Operations,Inc.All rights reserved.7 Source:Intuitive 2024 earnings.*da Vinci only20232024 2022202120232024 20202020Procedure growth drivers 2025 Intuitive Surgical Operations,Inc.All rights reserved.8 Source:Intuitive 2024 earnings.*da Vinci only20122013201420152016

18、20172018201920202021202220232024+31%YoY growth OUSnon-urology2024 ProceduresAll other+19%YoY growth U.S.general surgery+17%YoY growth overall+11%2025 Intuitive Surgical Operations,Inc.All rights reserved.9 Source:Intuitive earnings.Customers continue to standardizePhase 1AdoptPhase 2OperationalizePh

19、ase 3Standardize20172018201920202021202220232024 2025 Q120172018201920202021202220232024 2025 Q1Hospitals globally with 7+dV systemsIDNs globally with 20+dV systems8%YoY 2025 Q149%YoY 2025 Q12025 priorities 2025 Intuitive Surgical Operations,Inc.All rights reserved.10 Accelerate access to and qualit

20、y of MIS by driving:Innovation Full launch of dV5 and regional clearances.Follow on feature releases.Increased adoption for focus procedures by country through training,commercial activities,and market access efforts.Continued progress on building industrial scale,product quality and manufacturing o

21、ptimization.Digital excellence Launch of tools in key markets,along with feature and infrastructure updates.Business Overview 2025 Intuitive Surgical Operations,Inc.All rights reserved.11 InstrumentsStaplingSurgical systemsSoftwareAdvanced energyVisionSystemsOnline educationTechnology trainingContin

22、uing educationPeer-to-peer educationResidency/Fellowship programSkills simulationLearningSupport servicesClinical studies and economics analysisSystem maintenanceProgram and procedure analyticsProgram implementationClinical support staffServicesPatients,surgeons,and hospitals 2025 Intuitive Surgical

23、 Operations,Inc.All rights reserved.12 Comprehensive and Integrated EcosystemDa Vinci XiDa Vinci SPIon 2025 Intuitive Surgical Operations,Inc.All rights reserved.13Da Vinci 5Surgery,transformed.2025 Intuitive Surgical Operations,Inc.All rights reserved.Source:Intuitive 2024 earnings.2025 Intuitive S

24、urgical Operations,Inc.All rights reserved.Encouraging phase 1 launch of da Vinci 5 in 2024362System placements in 202432,000+Procedures performed in 202440Procedure types performed2,500+Surgeons using da Vinci 515What are we hearing from customers?Improved visionErgonomicsSurgeon autonomyIncreased

25、efficiencyCase InsightsForce Feedback 2025 Intuitive Surgical Operations,Inc.All rights reserved.16 What are we hearing from customers?Improved visionErgonomicsSurgeon autonomyIncreased efficiencyCase InsightsForce Feedback“I think the tissue tensionand the ability to feel that instead of having to

26、look for visual cues is a massive transformational improvement for robotic surgery.”Dr.Sam BagchiChief Clinical Officer 2025 Intuitive Surgical Operations,Inc.All rights reserved.17 What are we hearing from customers?Improved visionErgonomicsSurgeon autonomyCase InsightsForce FeedbackIncreased effic

27、iency“I think the really nicething about da Vinci 5 is that it democratizes the bedside assist.”Dr.Pamela LeeColorectal surgeon 2025 Intuitive Surgical Operations,Inc.All rights reserved.18 What are we hearing from customers?Improved visionErgonomicsSurgeon autonomyIncreased efficiencyForce Feedback

28、Case Insights“Case Insights is going to transform our value to the way we teach the next generation of surgeons and allow those surgeons to be much better,much more quickly than we were.”Dr.Michael StifelmanUrologic surgeon 2025 Intuitive Surgical Operations,Inc.All rights reserved.19 2025 Intuitive

29、 Surgical Operations,Inc.All rights reserved.20$1,000$2,000$3,000$4,000$5,000$6,000$7,000$8,000$9,00020172018201920202021202220232024Revenue trend(USD,in millions)Non-recurringRecurring79%201820192020202120222023201771%71%72%77%75%83%2025 Intuitive Surgical Operations,Inc.21 Source:Intuitive 2024 ea

30、rnings.84%2024+17%YoYInstruments and accessories$1,000$3,600 per da Vinci procedureServices$100K$225K per year for da Vinci Surgical SystemsOperational leasesFixed-payment or usage-basedSystem sale or sales-type leaseda Vinci Surgical Systems ASP of$0.7M$3.1MQ125 Results 2025 Intuitive Surgical Oper

31、ations,Inc.All rights reserved.22 2025 Intuitive Surgical Operations,Inc.All rights reserved.23 17%Da Vinci Procedure growth Y/Y15%Da Vinci Installed base growth Y/Y 367 Da Vinci systems placed$2.25Billion in revenue(19%Y/Y)66.4%Pro-forma gross margin$1.81Pro-forma EPSQ1 2025 ResultsDa Vinci System

32、Installed Base 2025 Intuitive Surgical Operations,Inc.All rights reserved.24 10,189worldwide as of March 31,20255,957 United States1,937 Europe1,790 Asia505 Rest of WorldEnvironmental,Social and Governance 2025 Intuitive Surgical Operations,Inc.All rights reserved.25 2025 Intuitive Surgical Operatio

33、ns,Inc.All rights reserved.26 ESGWe believe that minimally invasive care is life-enhancing care that benefits society and the planet.We strive to meaningfully improve patient care while being responsible stewards of the environment,our communities,and our governance values.View the 2024 ESG Report on our website View the 2024 ESG Report on our website