Companies /Healthcare

Intuitive Surgical Inc

NASDAQ: ISRG Medical Instruments & Supplies
$370.42
▼ $1.46 (−0.39%) today
Markets open · 3:34pm ET

Q3 2025 Earnings

Reported Oct 21, 2025, 4:03pm ET · SEC source
$2.40
Beat +20.65%
EPS · est. $1.99
$2.5B
Beat +3.85%
Revenue · est. $2.4B
+7.9%
Beating market
ISRG vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−6%0+6%+12%Oct 21Oct 22report 4:03pm ETearnings−0.5%+5.9%
−6%0+6%+12%Oct 21Oct 22earnings−0.5%+5.9%
ISRG +5.9%S&P 500 −0.5%
−6%0+6%+12%Oct 21Oct 22report 4:03pm ETearnings−0.9%+5.9%
−6%0+6%+12%Oct 21Oct 22earnings−0.9%+5.9%
ISRG +5.9%NASDAQ −0.9%
−12%−6%0Oct 20Oct 29report 4:03pm ETearnings+2.2%−0.1%
−12%−6%0Oct 20Oct 29earnings+2.2%−0.1%
ISRG −0.1%S&P 500 +2.2%
−12%−6%0Oct 20Oct 29report 4:03pm ETearnings+3.9%−0.1%
−12%−6%0Oct 20Oct 29earnings+3.9%−0.1%
ISRG −0.1%NASDAQ +3.9%
+13.89%
Day of report
+4.61%
Next session
+2.00%
One week
+6.56%
30 days

S&P 500 over the same 30 days: −1.31%.

Did ISRG Beat Earnings? Q3 2025 Results

Intuitive Surgical delivered a blowout third quarter for 2025, with <a href="https://247wallst.com/investing/2025/10/21/live-intuitive-surgical-isrg-q3-earnings-coverage/">surging procedure volumes</a> driving revenue to $2.51 billion, up 22.9% year-over-year and ahead of the $2.41 billion consensus. Non-GAAP EPS of $2.40 cleared the $1.99 analyst estimate by 20.65%, powered by accelerating adoption of the da Vinci 5 platform, where placements more than doubled year-over-year to 240 units in the quarter. Worldwide da Vinci and Ion procedures grew roughly 20% combined, lifting instruments and accessories revenue, the company's largest segment, to $1.52 billion. Systems revenue climbed to $590.40 million from $445.00 million a year earlier, while GAAP operating income rose to $759.70 million versus $577.30 million. Investors have taken note of the strong global adoption story, though tariff risk remains a meaningful overhang given the company's manufacturing footprint in Mexico, Germany, and China. Management guided full-year 2025 da Vinci procedure growth of 17% to 17.5% and non-GAAP gross margin of 67% to 67.5%, absorbing an estimated 0.7% tariff drag, assuming current trade policy holds.

Key Takeaways
  • Worldwide procedures grew approximately 20% YoY (da Vinci ~19%, Ion ~52%)
  • 427 da Vinci system placements in Q3 2025, including 240 da Vinci 5 systems (vs. 110 in Q3 2024)
  • Da Vinci installed base grew 13% YoY to 10,763 systems
  • Ion installed base grew 30% YoY to 954 systems
  • Instruments and accessories revenue growth driven by procedure volume increases

“We're pleased with our strong results this quarter, underscored by continued growth in customer use and adoption of our Ion and da Vinci 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 17% to 17.5% (compared to 17% in 2024), non-GAAP gross profit margin of 67% to 67.5% of revenue (including an estimated tariff impact of 0.7% of revenue, plus or minus 10 basis points), and non-GAAP operating expense growth of 11% to 13%. The outlook assumes current tariffs remain in place; changes to tariffs could have a material impact on financial results.

ISRG YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$0$700.0M$1.4B$2.1B$2.0B$2.5BRevenue$1.4B$1.7BGross Profit$577.3M$759.7MOperating Income$565.1M$704.4MNet Income
$0$700.0M$1.4B$2.1BRevenueGross ProfitOperating IncomeNet Income

ISRG Revenue by Segment

Instruments and Accessories$1.5B+20.0%
Systems$590.4M
Services$395.9M

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