How did ISRG's product revenue grow in 2024?

Intuitive Surgical (ISRG) experienced a significant increase in product revenue in 2024, driven by strong growth in key segments of its business. 1. **System Placements and Installed Base Growth**: The company placed 493 da Vinci surgical systems in Q4 2024, a 19% increase from the same period in 2023. The total number of da Vinci systems installed rose by 15% to nearly 9,902 systems. This growth in system placements and expansion of the installed base contributed to the overall revenue increase. 2. **Da Vinci Procedures**: Worldwide da Vinci procedures grew by approximately 18% in Q4 2024 compared to the same period in 2023. For the full year 2024, da Vinci procedures increased by 17%. The growth in procedures, especially in emerging markets, bolstered revenue from services and accessories. 3. **Financial Performance**: Intuitive Surgical reported a 25% increase in revenue for Q4 2024, reaching $2.41 billion. This growth was accompanied by a 29% rise in net income and a 28% increase in EPS. The company's gross margin improved to 69.1% for the year 2024, reflecting enhanced operational efficiency. In summary, ISRG's product revenue growth in 2024 was driven by a combination of increased system placements, growth in da Vinci procedures, and improved financial performance.