“While leasing rates may vary from quarter-to-quarter, we continue to expect the trend toward leasing to increase over time, driven primarily by a higher mix of leasing by OUS customers.”

In context

“priorities. We are encouraged to see a commitment to expanding access to robotic surgery as one of the key elements of the plan. However, we do not expect any positive impact this year from incremental NHS investments in robotics. Total revenue for the quarter was $2.44 billion, representing 21% growth over the prior year. On a constant currency basis, revenue growth was also 21% Systems revenue increased 28%, reflecting lower lease rates, increased placements and a higher mix of da Vinci 5 systems, which drove higher average selling prices. Recurring revenue also grew 21% and accounted for 85% of total revenue. Leasing represented 49% of Q2 placements, lower than 54% last year, primarily driven by a higher mix of placements with distributors, most of whom do not qualify to lease systems. While leasing rates may vary from quarter-to-quarter, we continue to expect the trend toward leasing to increase over time, driven primarily by a higher mix of leasing by OUS customers. The average selling price for systems was $1.5 million compared to $1.44 million last year, reflecting the increasing mix of da Vinci 5 systems, partially offset by a higher mix of trade-in transactions. Instrument and accessory revenue per procedure was approximately $1,800, relatively consistent with the prior year. On a year-over-year basis, we saw downward pressure from lower bariatric procedures and higher cholecystectomy procedures, offset by customer ordering patterns, higher SP procedures and da Vinci 5 specific INA. Second quarter SP procedures grew 88%, driven by 112% growth in Korea and strong growth in Europe and Japan. We placed 23 SP systems in Q2 compared to 21 systems last year. These included 6 in the U.S., 6 in Korea and 5 in Taiwan. SP utilization rose 30% with Korea an”