Intuitive Surgical (NASDAQ:ISRG) hit a major financial landmark Wednesday, reporting preliminary 2025 revenue of $10.06 billion, a 21% increase over the prior year.
The results, fueled by the rapid rollout of the next-generation da Vinci 5 system, underscore the company’s dominant grip on the robotic-assisted surgery market as it transitions from a niche technology provider to a foundational healthcare infrastructure giant.
For the fourth quarter ended December 31, 2025, revenue reached $2.87 billion, a 19% year-over-year jump.
The primary engine of this growth was the high-margin "Instruments & Accessories" segment, which generated $1.66 billion in the quarter—nearly 58% of total revenue—as surgeons performed a record 3.15 million procedures globally throughout the year.
The 2025 results reveal a massive shift in Intuitive’s capital equipment portfolio.
Of the 1,721 systems placed during the year, 870 (51%) were the new da Vinci 5 platform, which received broad FDA clearance and initial international regulatory nods earlier in 2024 and 2025.
In the fourth quarter alone, 303 of the 532 systems placed were da Vinci 5 units, indicating that hospitals are aggressively upgrading their fleets to access the system’s enhanced force-sensing capabilities and AI-driven data analytics.
While 2025 was a year of rapid expansion, the company provided a more tempered—yet robust—forecast for 2026.
Intuitive expects worldwide da Vinci procedure growth to land between 13% and 15%, a slight normalization following the 18% surge seen in 2025.
This "measured" guidance likely accounts for the continued cooling of bariatric surgery volumes and the potential for capital budget tightening in certain international markets like China and Japan.