Intuitive Surgical, Inc. earnings overview

ISRG FY2026 Q2 · Calendar Q3 2026

Intuitive Surgical, Inc.

Intuitive Surgical delivered another quarter of strong operational execution, with procedure volumes up 16% year-over-year and revenue rising 19% to $2.89 billion, driven by da Vinci 5, SP, and ION platform adoption. However, the guidance posture shifted from raised in Q1 to merely maintained in Q2, and the stock has since drifted approximately 10% below its event-session close. New initiatives -- an extended-use instrument program targeting H1 2027 commercialization and a GI robotic endoscope in FDA 510(k) review -- could expand addressable markets but also introduce uncertainty around per-procedure revenue economics. The non-GAAP gross margin outlook was nudged higher to 68-69% from 67.5-68.5%, a modest positive. The bullish score eased to 78 from 85 last quarter, reflecting the guidance plateau and new program questions. EPS of $2.80 beat consensus by 13% and revenue of $2.89…