Intuitive Surgical Files 2024 10-K

TL;DR

ISR G 10-K filed. Full 2024 financials out.

AI Summary

Intuitive Surgical Inc. reported its fiscal year results ending December 31, 2024. The company, headquartered in Sunnyvale, CA, operates in the orthopedic, prosthetic & surgical appliances & supplies industry. This 10-K filing provides a comprehensive overview of their financial performance and business operations for the fiscal year.

Why It Matters

This filing provides investors and analysts with the official, audited financial details of Intuitive Surgical's performance in 2024, crucial for understanding the company's financial health and future prospects.

Risk Assessment

Risk Level: low — This is a standard annual financial filing (10-K) for a publicly traded company, not indicating any immediate or unusual risks.

Key Players & Entities

• INTUITIVE SURGICAL INC (company) — Filer
• 20241231 (date) — Fiscal Year End
• 20250131 (date) — Filing Date
• SUNNYVALE, CA (location) — Company Headquarters
• 770416458 (identifier) — IRS Number

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share ISRG The Nasdaq Global Select

Filing Documents

• isrg-20241231.htm (10-K) — 2703KB
• q424ex-19xinsidertradingpo.htm (EX-19) — 66KB
• q424ex-211xsubsidiariesq4o.htm (EX-21.1) — 22KB
• q424ex-231xauditorconsentq.htm (EX-23.1) — 2KB
• q424ex-311xceocertofsoxsec.htm (EX-31.1) — 11KB
• q424ex-312xcfocertofsoxsec.htm (EX-31.2) — 11KB
• q424ex-321xceocertofsoxsec.htm (EX-32.1) — 5KB
• q424ex-322xcfocertofsoxsec.htm (EX-32.2) — 5KB
• isrg-20241231_g1.jpg (GRAPHIC) — 61KB
• isrg-20241231_g2.jpg (GRAPHIC) — 84KB
• 0001035267-25-000017.txt ( ) — 13930KB
• isrg-20241231.xsd (EX-101.SCH) — 76KB
• isrg-20241231_cal.xml (EX-101.CAL) — 147KB
• isrg-20241231_def.xml (EX-101.DEF) — 335KB
• isrg-20241231_lab.xml (EX-101.LAB) — 1044KB
• isrg-20241231_pre.xml (EX-101.PRE) — 685KB
• isrg-20241231_htm.xml (XML) — 2350KB

Business

Business 6 Item 1A.

Risk Factors

Risk Factors 26 Item 1B. Unresolved Staff Comments 57 Item 1C. Cybersecurity 57 Item 2.

Properties

Properties 58 Item 3.

Legal Proceedings

Legal Proceedings 58 Item 4. Mine Safety Disclosures 58 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 59 Item 6. [RESERVED] 60 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 61 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 86 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 87 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 125 Item 9A.

Controls and Procedures

Controls and Procedures 125 Item 9B. Other Information 126 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 126 PART III Item 10. Directors, Executive Officers , and Corporate Governance 127 Item 11.

Executive Compensation

Executive Compensation 127 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 127 Item 13. Certain Relationships and Related Transactions and Director Independence 127 Item 14. Principal Accountant Fees and Services 127 PART IV Item 15. Exhibits and Financial Statement Schedules 128 Item 16. Form 10-K Summary 129

SIGNATURES

SIGNATURES 130 2 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements relate to expectations concerning matters that are not historical facts. Statements using words such as "estimates," "projects," "believes," "anticipates," "plans," "expects," "intends," "may," "will," "could," "should," "would," "targeted," and similar words and expressions are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements related to future results of operations, future financial condition, the expected impacts of COVID-19 on our business, financial condition, and results of operations, our financing plans and future capital requirements, our potential tax assets or liabilities, and statements based on current expectations, estimates, forecasts, and projections about the economies and geographic markets in which we operate and our beliefs and assumptions regarding these economies and markets. These forward-looking statements are necessarily estimates reflecting the judgment of our management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These forward-looking statements should be considered in light of various important factors, including, but not limited to, the following: the overall macroeconomic environment, which may impact customer spending and our costs, including tariffs, the levels of inflation, and interest rates; the conflict between Ukraine and Russia; conflicts in the Middle East; disruption to our supply chain, including difficulties in obtaining a sufficient supply of materials; curtailed or delayed capital spending by hospitals; the impact of global and

BUSINESS

ITEM 1. BUSINESS In this report, "Intuitive Surgical," "Intuitive," the "Company," "we," "us," and "our" refer to Intuitive Surgical, Inc. and its wholly and majority-owned subsidiaries. Intuitive , Intuitive Surgical , da Vinci , da Vinci S , da Vinci Si , da Vinci X , da Vinci Xi , da Vinci 5 , da Vinci SP , EndoWrist , Firefly , Flexision , Intuitive 3D Models , Intuitive Hub , Ion , My Intuitive , OnSite , SimNow , SureForm , and SynchroSeal are trademarks or registered trademarks of the Company. Company Background As part of Intuitive's mission, we believe that minimally invasive care is life-enhancing care. By combining ingenuity and intelligent technology, we expand the potential of physicians to heal without constraints. We envision a future of care that is less invasive and profoundly better, where diseases are identified early and treated quickly so patients can get back to what matters most. Since our founding 30 years ago, we have been delivering on this mission and vision by combining innovative technology with clinical expertise to advance minimally invasive care. We do so by providing a comprehensive ecosystem that includes robotic-assisted systems, instruments and accessories, customer learning, and support services all connected by a digital portfolio that enables actionable insights across the care continuum. Among other capabilities, these products and services can augment the skills and improve the efficiency of clinicians and care teams while providing decision support and learning that can help deliver differentiated clinical and economic value for patients, providers, and payers when compared to the next best available treatment options. To assure continued alignment with the patients and healthcare community we serve, we have adopted the Quintuple Aim as our "north star." Starting foremost with a focus on patients, we seek to demonstrate that our products can deliver better outcomes that are validated by rigorous peer-reviewed evidence

View Full Filing

View this 10-K filing on SEC EDGAR