Intuitive Surgical reported second-quarter 2025 revenue of $2.44 billion, a 21% increase from a year earlier and ahead of the $2.35 billion consensus estimate. Non-GAAP earnings rose 23% to $2.19 a share, topping forecasts of $1.93, while GAAP earnings reached $1.81 a share on net income of $658 million. Performance was driven by roughly 17% growth in da Vinci procedure volume and the placement of 395 robotic surgical systems, including 180 units of the next-generation da Vinci 5. The additional installations expanded the global installed base to 10,488 systems. Intuitive ended the quarter with $9.53 billion in cash and secured European MDR certification and Japanese regulatory clearance for the da Vinci 5 platform. For the full year, the company maintained guidance for worldwide procedure growth of 15.5%-17% and projected a non-GAAP gross margin of 66%-67%, about one percentage point lower because of U.S. tariffs. Operating expenses are expected to rise 10%-14%. Shares fell roughly 3% in extended trading after swinging sharply following the earnings release.