INTUITIVE SURGICAL INC Annual Report, Year Ended Dec 31, 2009

Intuitive Surgical, Inc. (ISRG) reported strong performance for the fiscal year ended December 31, 2009. Total revenue reached $1,052 million, a 20% increase year-over-year, driven by a 51% surge in surgical procedures performed using their da Vinci Surgical Systems. This growth was fueled by expanding adoption in key specialties like urology and gynecology, with prostatectomies and hysterectomies being major contributors. The company also saw robust growth in recurring revenue from instruments and accessories, which constituted 53% of total revenue, indicating increasing utilization of their installed base. The company successfully launched its new da Vinci Si Surgical System in Q2 2009, featuring enhanced imaging, an improved user interface, and a dual console for training and collaborative surgery, which is expected to drive future growth. Despite a challenging economic environment in 2009, ISRG demonstrated resilience, with system sales remaining stable and recurring revenue growing significantly. The company ended the year with a strong cash position of $1,172 million, underscoring its financial health and ability to fund ongoing operations and future expansion.