Intuitive Surgical, Inc. · ISRG · Next earnings

Intuitive Surgical, Inc. reports Tuesday, Oct 20, 2026

ISRG reports before market open with consensus EPS at $2.61 and revenue at $2.91B. Last quarter: Intuitive Surgical Q2: Procedures Up 16%, Revenue Up 19% as Margin Outlook Improves

Reports Before market open30 days awayDate estimated Healthcare

What the street expects

Consensus for the coming report
Consensus EPS $2.61 Calendar consensus
Consensus revenue $2.91B Calendar consensus
Report date Oct 20, 2026 Tuesday, date estimated
Session Before market open 30 days away

Where ISRG left off: FY2026 Q2

Full report

Intuitive Surgical Q2: Procedures Up 16%, Revenue Up 19% as Margin Outlook Improves

EPS surprise +12.9% Reported $2.80 vs $2.48
Revenue surprise +2.4% Reported $2.89B vs $2.83B
Stock move +3.4% Event window
Subsequent drift -10.1% Up to 20 sessions

Management reaffirmed 2026 guidance rather than raising it, marking a shift from Q1's raised posture. The non-GAAP gross margin outlook was lifted to 68-69% from the prior 67.5-68.5%. The da Vinci procedure growth range established in Q1 at 13.5-15.5% was not revised further. Capex outlook remained stable. The maintained stance, combined with new questions about the extended-use program's potential impact on instruments and accessories revenue, likely contributed to the post-earnings stock drift.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Policy and pricing pressure in China including tender and charge-code changes with reimbursement clarity not expected until 2027
  • Potential slowdown from expiration of ACA premium subsidies affecting U.S. procedure growth
  • Competitive dynamics and macro-economic constraints on capital spending in Europe and Japan
  • Uncertainty around timing and impact of the extended-use program on per-procedure revenue

Questions analysts left open

  • Magnitude of ACA subsidy impact on U.S. procedure growth
  • Quantifiable effect of extended-use program on instruments and accessories revenue
  • Capital-expenditure environment and willingness of hospitals to invest
  • Future rollout cadence of da Vinci 5 software updates
  • Potential market size and timeline for the GI robotic system

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Recent ISRG quarters

All ISRG earnings
+3.4%FY2026 Q2

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q2

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.