Companies /Healthcare

Intuitive Surgical Inc

NASDAQ: ISRG Medical Instruments & Supplies
$370.56
▼ $1.32 (−0.36%) today
Markets open · 3:11pm ET

Q2 2026 Earnings

Reported Jul 16, 2026, 4:05pm ET · SEC source
$2.80
Beat +11.83%
EPS · est. $2.50
$2.9B
Beat +2.40%
Revenue · est. $2.8B
+10.0%
Beating market
ISRG vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−5%0+5%+10%Jul 16Jul 17report 4:05pm ETearnings−1.0%−6.4%
−5%0+5%+10%Jul 16Jul 17earnings−1.0%−6.4%
ISRG −6.4%S&P 500 −1.0%
−5%0+5%+10%Jul 16Jul 17report 4:05pm ETearnings−1.6%−6.4%
−5%0+5%+10%Jul 16Jul 17earnings−1.6%−6.4%
ISRG −6.4%NASDAQ −1.6%
−6%0+6%+12%Jul 15Jul 24report 4:05pm ETearnings−1.6%−5.9%
−6%0+6%+12%Jul 15Jul 24earnings−1.6%−5.9%
ISRG −5.9%S&P 500 −1.6%
−6%0+6%+12%Jul 15Jul 24report 4:05pm ETearnings−2.9%−5.9%
−6%0+6%+12%Jul 15Jul 24earnings−2.9%−5.9%
ISRG −5.9%NASDAQ −2.9%
−14.15%
Day of report
+2.24%
Next session
−2.29%
One week
+13.25%
30 days

S&P 500 over the same 30 days: +3.25%.

Did ISRG Beat Earnings? Q2 2026 Results

Intuitive Surgical delivered a convincing beat across the board in Q2 2026, with non-GAAP EPS of $2.80 clearing the $2.50 consensus estimate by 11.83% and extending the company's streak to five consecutive quarters of beating expectations. Revenue of $2.89 billion, up 18.5% year over year, edged past the $2.82 billion consensus by 2.40%, driven by robust procedure volume growth and a surge in system placements, with da Vinci unit placements rising to 468 from 395 a year ago, including a meaningful step-up in the newer da Vinci 5 model. For investors who had been <a href="https://247wallst.com/investing/2026/07/16/live-will-intuitive-surgical-smash-tonights-q2-earnings-after-29-ytd-decline/">watching the stock closely</a> amid a sharp year-to-date decline tied to da Vinci 5 margin concerns and tariff headwinds, the quarter offered tangible reassurance, with non-GAAP gross margin expanding to 70.0% from 67.9%. Looking ahead, management guided full-year da Vinci procedure growth of roughly 13.5% to 15.5%, while flagging that additional tariffs beyond current assumptions could materially weigh on results.

Key Takeaways
  • Worldwide da Vinci and Ion procedure volume grew approximately 16% YoY
  • Da Vinci procedures grew approximately 15% YoY
  • Ion procedures grew approximately 36% YoY
  • 468 da Vinci system placements vs. 395 in Q2 2025
  • 246 da Vinci 5 system placements vs. 180 in Q2 2025
  • Higher lease installed base and higher da Vinci system average selling prices
  • 12% growth in da Vinci installed base to 11,710 systems
  • 21% growth in Ion installed base to 1,096 systems
  • $28 million net-of-tax benefit from IEEPA tariff refunds

“We are pleased with company performance this quarter, which reflects the strength of our portfolio – from da Vinci and Ion to our growing digital solutions. Our commitment to customers around the world – our north star – remains the same: helping them deliver better patient outcomes, better patient and care team experiences, lower costs, and broader access to minimally invasive care.”

Intuitive Surgical CEO, on the earnings call

Forward Guidance & Outlook

For full-year 2026, Intuitive expects worldwide da Vinci procedure growth of approximately 13.5% to 15.5%, with results expected near the midpoint. Non-GAAP gross profit margin is expected within 68.0% to 69.0% of revenue, which includes an estimated 1.0% adverse impact from tariffs currently in effect. Non-GAAP operating expense growth is expected at 11% to 13%. Management cautioned that additional tariffs beyond current expectations could have a material impact on financial results.

ISRG YoY Financials

Q2 2026 vs Q2 2025 · SEC filings Q2 2025 Q2 2026
$0$800.0M$1.6B$2.4B$2.4B$2.9BRevenue$1.6B$2.0BGross Profit$743.4M$971.9MOperating Income$658.4M$818.1MNet Income
$0$800.0M$1.6B$2.4BRevenueGross ProfitOperating IncomeNet Income

ISRG Revenue by Segment

Instruments and Accessories$1.7B+18.0%
Systems$685.0M+19.2%
Services$472.4M+20.8%

Figures from SEC filings and company reports. Not investment advice.