Companies /Healthcare
Intuitive Surgical Inc
NASDAQ: ISRG Medical Instruments & Supplies
$415.86
▼ $6.20 (−1.47%) today
Markets open · 2:16pm ET

Intuitive Surgical (ISRG) 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

How Did ISRG Stock React to Q2 2026 Earnings?

% 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

Yes. Intuitive Surgical reported Q2 2026 earnings of $2.80 a share on Jul 16, 2026, beating the $2.50 consensus estimate by 11.8%. Revenue was $2.9B against a $2.8B estimate.

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

What Is Intuitive Surgical's 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 income statement, Q2 2026 versus Q2 2025
Metric Q2 2026 Q2 2025 Year over year
Revenue $2.9B $2.4B +18.5%
Gross Profit $2.0B $1.6B +20.9%
Operating Income $971.9M $743.4M +30.7%
Net Income $818.1M $658.4M +24.3%

ISRG Revenue by Segment

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

When Does Intuitive Surgical Report Next?

Expected report date
After the close
Release timing

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