“While leasing may fluctuate quarter-to-quarter, we continue to expect the rate of leasing to increase overtime.”

In context

“essures faced by hospitals and risks to the macro, we may see customers globally reprioritize capital budgets or extend timelines to invest in robotic programs. First quarter revenue was $2.25 billion, a 19% increase over last year. On a constant currency basis, revenue growth was 20% and Systems revenue grew 25% year-over-year, driven by a 17% increase in da Vinci system placements and higher system ASP, reflecting a higher mix of da Vinci 5 placements. Recurring revenue grew 19% in Q1, representing 85% of total revenue. Additional revenue statistics and trends are as follows leading represented 54% of Q1 placements, compared with 51% last year, driven by a higher mix of U.S. placements where given customer preference the greater proportion of systems are placed under lease arrangements. While leasing may fluctuate quarter-to-quarter, we continue to expect the rate of leasing to increase overtime. Q1 system average selling prices were $1.62 million, as compared to $1.39 million last year, primarily driven by a higher mix of da Vinci 5. Looking forward to the second half of 2025 following broad launch of da Vinci 5, to the extent that we see higher trading volumes, you should expect that such transactions reflect significantly higher trading credits relative to recent periods. We recognized $39 million of lease buyout revenue in the first quarter, compared with $29 million last year. da Vinci instrument and accessory revenue per procedure was approximately $1,780, flat to last year, reflecting two offsetting dynamics. First, we see I&A per procedure come down due to procedure mix, given a lower mix of bariatric procedures and higher mixed cholecystectomy. Second, we see an offsettin”