Intuitive Surgical makes robotic systems for minimally invasive surgery. Its core product, the da Vinci surgical system, consists of a surgeon console, a patient-side robotic cart, and a 3D vision system. The surgeon operates from a console, and the system translates hand movements into precise micro-movements of instruments inside the patient — filtering tremor and enabling wristed instrument tips with seven degrees of freedom. Da Vinci is used across general surgery, urology, gynecology, cardiothoracic, and head and neck procedures. Intuitive's second platform, Ion, is a flexible robotic catheter for minimally invasive lung biopsies. Intuitive sells directly to hospitals through a dedicated capital sales team and a clinical sales team embedded in hospital accounts to support procedure adoption. The business follows a razor-and-blades model. Intuitive places systems with hospitals — often at thin margins — then generates recurring, high-margin revenue from instruments and accessories (I&A) consumed in every procedure, plus service contracts on the installed base. I&A and services together account for roughly 81% of revenue, making the business highly predictable once systems are placed. Procedure volume is the primary earnings driver; Intuitive performed over 3.1M procedures globally in FY25. Growth levers include the da Vinci 5 upgrade cycle, expansion into ambulatory surgery centers using refurbished prior-generation systems, international market penetration where utilization remains well below U.S. levels, and new indications like cardiac surgery. Da Vinci 5 also enables a digital ecosystem — AI-powered surgical analytics, remote collaboration, and simulation tools — which Intuitive is transitioning to a paid subscription model.