Companies /Healthcare

Intuitive Surgical Inc

NASDAQ: ISRG Medical Instruments & Supplies
$370.74
▼ $1.14 (−0.31%) today
Markets open · 4:07pm ET

Q2 2025 Earnings

Reported Jul 22, 2025, 4:03pm ET · SEC source
$2.19
Beat +13.22%
EPS · est. $1.93
$2.4B
Beat +3.83%
Revenue · est. $2.3B
−6.9%
Trailing market
ISRG vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−9%−6%−3%0Jul 22Jul 23report 4:03pm ETearnings+0.9%−7.1%
−9%−6%−3%0Jul 22Jul 23earnings+0.9%−7.1%
ISRG −7.1%S&P 500 +0.9%
−9%−6%−3%0Jul 22Jul 23report 4:03pm ETearnings+0.8%−7.1%
−9%−6%−3%0Jul 22Jul 23earnings+0.8%−7.1%
ISRG −7.1%NASDAQ +0.8%
−4%−2%0+2%Jul 21Jul 30report 4:03pm ETearnings+1.3%−2.3%
−4%−2%0+2%Jul 21Jul 30earnings+1.3%−2.3%
ISRG −2.3%S&P 500 +1.3%
−4%−2%0+2%Jul 21Jul 30report 4:03pm ETearnings+2.1%−2.3%
−4%−2%0+2%Jul 21Jul 30earnings+2.1%−2.3%
ISRG −2.3%NASDAQ +2.1%
−1.77%
Day of report
−2.66%
Next session
−0.29%
One week
−5.14%
30 days

S&P 500 over the same 30 days: +1.75%.

Did ISRG Beat Earnings? Q2 2025 Results

Intuitive Surgical delivered a standout second quarter for 2025, with non-GAAP EPS of $2.19 beating the $1.93 consensus by 13.22% and revenue of $2.44 billion topping estimates by 3.83% on 21.4% year-over-year growth, as <a href="https://247wallst.com/investing/2025/07/22/live-intuitive-surgical-nasdaq-isrg-earnings-preview-coverage/">analysts had closely watched</a> heading into the print. The primary engine behind the outperformance was procedure volume, with worldwide da Vinci procedures growing roughly 17% year-over-year and Ion procedures surging approximately 52%, together driving instruments and accessories revenue, the company's largest recurring stream, up 18% to $1.47 billion. System placements also accelerated, with da Vinci 5 units more than doubling to 180 from 70 a year ago, pushing systems revenue to $574.70 million from $448.20 million. Adding strategic momentum, the company secured European MDR certification and Japanese regulatory clearance for da Vinci 5 during the quarter. Looking ahead, management guided full-year da Vinci procedure growth of roughly 15.5% to 17%, while flagging an estimated tariff headwind of approximately 1.0% of revenue embedded in its non-GAAP gross margin outlook of 66% to 67%.

Key Takeaways
  • Worldwide da Vinci procedure volume growth of approximately 17% year-over-year
  • Ion procedure volume growth of approximately 52% year-over-year
  • 395 da Vinci system placements vs. 341 in Q2 2024, including 180 da Vinci 5 systems vs. 70 in Q2 2024
  • Installed base grew 14% to 10,488 systems
  • Continued customer adoption of da Vinci 5 platform

“We're pleased with our solid performance this quarter, highlighted by continued customer adoption of our newer and existing platforms, including da Vinci 5.”

Intuitive Surgical CEO, on the earnings call

Forward Guidance & Outlook

For full year 2025, Intuitive expects worldwide da Vinci procedure growth of approximately 15.5% to 17% (compared to 17% in 2024), non-GAAP gross profit margin in the range of 66% to 67% of revenue (down from 69.1% in 2024, including an estimated tariff impact of approximately 1.0% of revenue plus or minus 20 basis points), and non-GAAP operating expense growth of 10% to 14%. The outlook assumes currently effective tariffs remain in place; additional or modified tariffs could have a material impact on financial results.

ISRG YoY Financials

Q2 2025 vs Q2 2024 · SEC filings Q2 2024 Q2 2025
$0$700.0M$1.4B$2.1B$2.0B$2.4BRevenue$1.4B$1.6BGross Profit$567.3M$743.4MOperating Income$526.9M$658.4MNet Income
$0$700.0M$1.4B$2.1BRevenueGross ProfitOperating IncomeNet Income

ISRG Revenue by Segment

Instruments and Accessories$1.5B+18.0%
Systems$574.7M
Services$391.2M

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