Intuitive Surgical (ISRG) Q3 2026 Earnings
Non-GAAP EPS of $3.00 includes a $22 million after-tax ($0.06 per diluted share) benefit related to IEEPA tariff refunds for prior periods. GAAP EPS of $1.49 includes a $450 million pre-tax ($347 million after-tax, $0.99 per diluted share) litigation settlement charge.
How Did ISRG Stock React to Q3 2026 Earnings?
Did ISRG Beat Earnings? Q3 2026 Results
Yes. Intuitive Surgical reported Q3 2026 earnings of $3.00 a share on Oct 20, 2026, beating the $2.64 consensus estimate by 13.6%. Revenue was $3.0B against a $2.9B estimate.
Intuitive Surgical delivered a standout third quarter in 2026, beating Wall Street on both the top and bottom lines and extending its streak of consensus EPS beats to six consecutive quarters. The robotic surgery pioneer posted adjusted non-GAAP EPS of $3.00, clearing the $2.64 consensus by 13.61%, while revenue of $3.05 billion grew 21.7% year over year and topped estimates by 4.88%. The quarter's headline driver was a surge in procedure volume, with combined da Vinci and Ion procedures climbing roughly 15% and system placements accelerating to 546 da Vinci units, including 315 of the newer da Vinci 5 model, up from 240 a year ago. Non-GAAP gross margin expanded to 69.9% from 66.4%, reflecting operational leverage across instruments, services, and systems. GAAP EPS fell to $1.49, weighed down by a $450 million pre-tax litigation settlement charge. Looking ahead, management guided full-year da Vinci procedure growth near the midpoint of 14% to 15%, while flagging tariff exposure, particularly from manufacturing in Mexico and Germany, as a key risk that could materially pressure results if trade conditions deteriorate further.
- Worldwide procedures grew approximately 15% YoY (da Vinci ~14%, Ion ~31%)
- 546 da Vinci system placements vs 427 in Q3 2025, including 315 da Vinci 5 systems
- Da Vinci installed base grew 12% to 12,094 systems; Ion installed base grew 21% to 1,152 systems
- Higher operating lease revenue and increased installed base of systems
- Instruments and accessories revenue grew 18% driven by procedure volume growth
- Customers performed over 10,000 procedures per day on average during Q3
“Our strong performance this quarter was marked by broad-based adoption across our multi-port, single-port, and Ion platforms, with customers using our systems to perform, on average, over 10,000 procedures per day throughout the period.”
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 14% to 15%, with the company expecting to be closer to the midpoint of this range. Non-GAAP gross profit margin is expected within a range of 68.7% to 69.3% of revenue, including an estimated tariff impact of 0.9% of revenue (excluding recognized tariff refunds). Non-GAAP operating expense growth is expected at 11% to 13%. The outlook assumes tariffs currently in effect remain in place through year-end. Management cautioned that additional tariffs beyond current expectations could have a material adverse impact on financial results.
ISRG YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $3.0B | $2.5B | +21.7% |
| Gross Profit | $2.1B | $1.7B | +25.4% |
| Operating Income | $592.6M | $759.7M | −22.0% |
| Net Income | $522.8M | $704.4M | −25.8% |
ISRG Revenue by Segment
When Does Intuitive Surgical Report Next?
Figures from SEC filings and company reports. Not investment advice.