Total da Vinci procedures grew 18% YoY, with U.S. procedures growing 16% and OUS procedures growing 24%. Growth was driven by general surgery, urology and gynecology.

Ion procedures grew 73% YoY, indicating increased adoption of the endoluminal system, with 25,000 procedures performed during the quarter.

The company placed 379 da Vinci systems, including 110 da Vinci 5 systems, reflecting demand for next-generation technology and additional capacity by customers.

Supply chain constraints have generally improved to pre-COVID-19 pandemic levels, but some isolated stresses remain, particularly for engineered raw materials and at certain subcontract suppliers.

The company is actively engaged in activities that seek to mitigate the impact of any supply chain risks and disruptions on its operations.

Hospitals continue to experience challenges with staffing and cost pressures that could affect their ability to provide patient care, and hospitals are facing significant financial pressure as supply chain constraints and inflation have driven up operating costs.

Uncertainty surrounding macroeconomic and geopolitical factors, including the conflict between Russia and Ukraine and conflicts in the Middle East, could have a material adverse effect on the company's business.

Supply chain constraints, elevated interest rates, and any insolvency of certain suppliers may have heightened continuity risks and make access to credit more difficult.

A number of hospitals continue to experience challenges with staffing and cost pressures that could affect their ability to provide patient care, and hospitals are facing significant financial pressure as supply chain constraints and inflation have driven up operating costs.

The company faces competition from companies that have introduced products in the field of robotic-assisted medical procedures or have made explicit statements about their efforts to enter the field.

System demand in China has been impacted by increasing robotic-assisted surgical system competition from domestic companies as well as a broader central government focus on systematic governance.

Several provinces in China have implemented significant limits on what hospitals can charge patients for surgeries using robotic surgical technology, which has impacted the number of procedures performed and instruments and accessories revenue in those provinces.

Product gross profit margin increased to 67.5% from 66.3% due to leverage on fixed overhead costs, partially offset by higher costs associated with the da Vinci 5 surgical system launch.

Service gross profit margin decreased to 66.9% from 70.3% due to higher inventory reserves and an unfavorable repair mix.

Selling, general and administrative expenses increased by 13% YoY, driven by higher headcount and personnel-related expenses, higher legal expenses, higher litigation charges, and increased infrastructure costs.

Research and development expenses increased by 15% YoY, driven by higher headcount and personnel-related expenses, and other project costs incurred to support a broader set of product development initiatives.

The company launched the da Vinci 5 surgical system, which features force feedback technology, new surgeon controllers, a next-generation 3D display and image system, and throughput and workflow enhancements.

The company obtained FDA clearance to extend the number of uses of its catheter instrument used with the Ion endoluminal system from five to eight uses.

The company repurchased shares during the quarter, and the board has authorized an aggregate of $10.0 billion for share repurchases.

Capital expenditures are increasing as the company continues to build the company to supply its customers with highly differentiated products manufactured in highly automated factories.

The company invests predominantly in high quality, fixed income securities, and the investment portfolio may, at any time, contain investments in money market funds, U.S. treasury and U.S. government agency securities, high-quality corporate notes and bonds, commercial paper, non-U.S. government agency securities, and taxable and tax-exempt municipal notes.

The filing does not contain any specific information regarding ESG initiatives.

The filing does not contain any specific information regarding ESG initiatives.

The filing does not contain any specific information regarding ESG initiatives.

A number of hospitals continue to experience challenges with staffing and cost pressures that could affect their ability to provide patient care, and hospitals are facing significant financial pressure as supply chain constraints and inflation have driven up operating costs.

Uncertainty surrounding macroeconomic and geopolitical factors, including the conflict between Russia and Ukraine and conflicts in the Middle East, could have a material adverse effect on the company's business.

Supply chain constraints, elevated interest rates, and any insolvency of certain suppliers may have heightened continuity risks and make access to credit more difficult.