ISRG · Healthcare

INTUITIVE SURGICAL INC

Ranked earnings events from SEC filings, earnings calls, press releases and news. Full Picture: everything published this earnings window

News · 2026-11-07

• Procedure Volume TrendsImportance 45 · Surprise 64
  Intuitive Surgical’s single-port SP robot recorded 55% procedure growth in fiscal Q3 2026, while its installed base increased 42%. SP remains a small portion of the company’s overall business, but its growth, alongside…

News · 2026-11-05

• Revenue Performance and MixImportance 58 · Surprise 56
  In the third quarter of 2026, da Vinci system placements rose 28% year over year to 546 systems from 427. Net placements increased 40%, expanding the installed base. Systems revenue grew 30% to $769 million, outpacing…
• Market Demand TrendsImportance null · Surprise null
  Intuitive Surgical’s third-quarter 2026 da Vinci system placements rose 28% year over year to 546 systems, compared with 427 a year earlier. Net placements, which expand the installed base, increased 40%. The reported…

News · 2026-11-02

• Strategic Pricing and AccessImportance 50 · Surprise 50
  Third-party reporting says anticipated price cuts on da Vinci instruments and accessories, including a cut in China, are expected to reduce revenue per procedure by 3% to 5%. The report says Intuitive expects procedure…
• Pricing and Access ExpansionImportance null · Surprise null
  Trefis reported anticipated price reductions on da Vinci instruments and accessories, which it described as a significant revenue risk because these products account for a large portion of Intuitive Surgical’s revenue.…

News · 2026-11-01

• Recurring Revenue MixImportance 50 · Surprise 24
  Instruments, accessories, and services account for about 75% of Intuitive Surgical’s top line, according to the report. The company’s installed base exceeds 12,000 systems, supporting recurring demand for these…
• Revenue Performance and MixImportance 40 · Surprise 30
  Intuitive Surgical reported a 22% revenue increase after its recent earnings report, although the article does not specify the comparison period or revenue amount. Instruments, accessories, and services account for…
• Competition and Market ShareImportance 17 · Surprise 24
  The report says competition in surgical robotics is increasing. It does not identify competitors or quantify market-share changes. Intuitive Surgical’s growth is described as supported by its installed base and…

News · 2026-10-22

• Strategic Pricing and AccessImportance 46 · Surprise 42
  Intuitive Surgical is shifting management focus from the da Vinci 5 robot’s capabilities toward lowering instrument prices for high-volume benign procedures. Hernia repair is identified as a target procedure, with the…
• Revenue Performance and MixImportance 44 · Surprise 30
  Intuitive Surgical reported approximately US$3.0 billion of Q3 2026 revenue. Quarterly revenue increased 22% year over year. Instruments and accessories remained the company’s largest revenue segment, while quarterly…

News · 2026-10-21

• Operating Income and MarginsImportance 78 · Surprise 74
  Q3 2026 operating margin declined to 19.4% from 30.3% in the year-ago quarter. The margin contraction was associated with the $450 million settlement charge and related litigation costs. The decline occurred despite…
• Antitrust Litigation SettlementImportance 67 · Surprise 66
  Intuitive Surgical recorded a $450 million settlement charge in Q3 2026. The charge reduced GAAP EPS to $1.49 from $1.95 in the prior-year quarter. Adjusted EPS excluded the settlement-related impact and reached $3.00,…
• Guidance / OutlookImportance 67 · Surprise 76
  Intuitive Surgical narrowed its 2026 global procedure-growth outlook to 14%-15%, reflecting slower U.S. procedure growth and continued execution risks. Management said combined da Vinci and Ion procedures grew…
• Litigation and Legal RiskImportance 67 · Surprise 66
  Third-party reporting highlighted a $450 million litigation settlement or related charge affecting Intuitive Surgical's third-quarter results. The charge materially reduced reported GAAP earnings and was cited…
• Revenue Performance and MixImportance 59 · Surprise 48
  Q3 2026 revenue increased 21.7% year over year to $3.05 billion, exceeding analyst expectations by approximately 4.9% to 5.3%. Instruments and accessories revenue rose 18.3% year over year to $1.80 billion from $1.52…
• Gross Margin DriversImportance 57 · Surprise 50
  Intuitive plans pricing actions that are expected to reduce da Vinci instruments and accessories revenue per procedure by approximately 3%-5% on a constant-mix basis once fully implemented. China pricing reductions…
• Pricing and Access ExpansionImportance 57 · Surprise 50
  Intuitive finalized pricing actions for a subset of high-volume benign procedures where cost may limit access to da Vinci surgery. The planned actions, together with mandated reductions in China, are expected to reduce…
• Strategic Pricing and AccessImportance 57 · Surprise 50
  Intuitive Surgical finalized pricing actions for selected high-volume benign procedures to reduce cost barriers and expand the addressable market for da Vinci surgery. The changes are expected to reduce da Vinci…
• Product Launch and TransitionImportance 55 · Surprise 66
  Worldwide da Vinci system placements increased 28% in Q3 2026. da Vinci 5 and single-port systems represented 65% of global placements during the quarter. More than 2,000 da Vinci 5 systems were installed worldwide by…
• Procedure Volume TrendsImportance 30 · Surprise 40
  Worldwide da Vinci and Ion procedures increased 15% in Q3 2026, comprising 14% growth in da Vinci procedures and 31% growth in Ion procedures. U.S. procedure growth was described as slower at approximately 10%, while…

Earnings call · 2026-10-20

• Guidance / OutlookImportance 78 · Surprise 76
  Management narrowed its 2026 full-year da Vinci procedure growth forecast to 14%–15%, expecting results closer to the midpoint. It forecast 2026 non-GAAP gross margin of 68.7%–69.3% of revenue, including an estimated…
• Segment Revenue PerformanceImportance 68 · Surprise 56
  Q3 I&A revenue increased 18% to $1.8 billion, with da Vinci I&A revenue per procedure at approximately $1,860 versus $1,800 a year earlier. Higher SP procedures and da Vinci 5-specific I&A drove the per-procedure…
• Antitrust Litigation SettlementImportance 64 · Surprise 42
  Intuitive announced an agreement, subject to court approval, with U.S. customers in a class action concerning third-party remanufacturing of da Vinci instruments and third-party servicing of da Vinci systems.…
• Product Launch and TransitionImportance 61 · Surprise 66
  Da Vinci system placements increased 28% worldwide, with da Vinci 5 and SP accounting for 65% of placements; installations of XiR and X more than doubled. Intuitive exited the quarter with more than 2,000 da Vinci 5…
• Revenue Performance and MixImportance 59 · Surprise 48
  Q3 2026 revenue grew 22% to just over $3 billion, with 84% from recurring revenue. Revenue growth exceeded the 15% increase in da Vinci and Ion procedures, reflecting system-placement growth and a richer mix of da…
• Macroeconomic Consumer PressureImportance 52 · Surprise 40
  Management is monitoring the effects of lower U.S. ACA enrollment, changes to Medicaid eligibility, and potential changes to 340B on procedure demand. Its 2026 procedure-growth outlook also considers the effects of…
• Operating Expense TrendsImportance 48 · Surprise 40
  Q3 non-GAAP operating expenses increased 18% year over year. Management cited higher variable compensation, increased headcount and higher prototype expenses as development programs advanced. R&D grew faster than SG&A,…
• International Market GrowthImportance 47 · Surprise 48
  Outside the U.S., da Vinci placements increased 29%, and management said nearly 4,000 international customers had a da Vinci program, with nearly 25% operating two or more systems. International customers are expanding…
• Manufacturing And CapacityImportance 46 · Surprise 42
  Intuitive announced plans for a significant new instruments and accessories manufacturing facility in Penang, Malaysia, to support expected long-term growth in Asia. The company expects the facility to begin operations…
• Capital Return ProgramImportance 44 · Surprise 24
  Intuitive repurchased $2.9 billion of stock in Q3 2026 at an average price of $377 per share. The buybacks contributed to cash and investments declining from $8.6 billion at the end of Q2 to $6.8 billion at the end of…
• Procedure Volume TrendsImportance 42 · Surprise 40
  Q3 total procedures increased 15%, comprising 14% growth in da Vinci procedures and 31% growth in Ion procedures; da Vinci procedures grew 10% in the U.S. and 20% outside the U.S. Almost 7,000 customers in more than 70…
• Geographic Procedure GrowthImportance 42 · Surprise 40
  Outside the U.S., da Vinci procedures grew 20% in Q3, with Europe up 20%, Asia up 19%, and Rest of World markets up 22%. Growth in Europe was led by the U.K., Germany, and Italy; India and Taiwan led Asia, while Japan…
• China Policy Price ReductionImportance 40 · Surprise 42
  A China charge-code policy change will drive a significant reduction in Intuitive’s I&A prices in that market beginning in November 2026. Management is engaging with provincial governments on implementation and…
• Tariff Refund and Gross MarginImportance 39 · Surprise 50
  Q3 non-GAAP gross margin was 69.9%, up from 68.0% in Q3 2025. The quarter included a one-time $28 million refund of previously paid IEEPA tariffs; excluding it, gross margin was 68.9%, a 90-basis-point year-over-year…
• Liquidity and Cash PositionImportance 38 · Surprise 24
  Intuitive ended Q3 2026 with $6.8 billion in cash and investments, down from $8.6 billion at the end of Q2. Operating cash generation was more than offset by $2.9 billion of share repurchases and $113 million of…
• Operating Income and MarginsImportance 38 · Surprise 24
  Management said Intuitive Surgical’s expected operating margin range is 35%–40%, while the company is currently at 41%–42%. Management said the current margin level provides capacity to invest. Potential investments…
• Pricing and Access ExpansionImportance 34 · Surprise 42
  Intuitive finalized pricing actions for a subset of high-volume benign procedures where cost may constrain access, aiming to broaden adoption and reach more patients. Beginning in the first half of 2027, the company…
• Products and TechnologyImportance 34 · Surprise 42
  Intuitive received CE marks for Force Feedback instrumentation and cardiac procedures on da Vinci 5, and for transvaginal gynecological procedures on SP; da Vinci 5 cardiac clearance now covers the U.S., Europe, India,…
• Strategic Cost ReductionImportance 34 · Surprise 42
  Intuitive plans to begin implementing instrument pricing actions in the first half of 2027, including extending the useful lives of a subset of core EndoWrist instruments on fourth- and fifth-generation platforms and…
• Income Tax Rate ChangesImportance 29 · Surprise 6
  The Q3 non-GAAP effective tax rate was 21.4%, consistent with management’s expectations. Management forecast a Q4 2026 non-GAAP effective tax rate of 22%, plus or minus 50 basis points.
• Competition and Market ShareImportance 10 · Surprise 6
  In discussing ambulatory surgery centers, management said customers evaluate robotic systems on architecture, portfolio pricing, the broader ecosystem, and supporting infrastructure—not simply the robot. Intuitive said…

8-K · 2026-10-20

• Antitrust Litigation SettlementImportance 96 · Surprise 100
  Intuitive agreed to settle the previously disclosed da Vinci surgical robot antitrust class action litigation for a one-time payment of $450 million and mutually agreed injunctive relief. The company recorded a $454.9…
• Litigation and Legal RiskImportance 96 · Surprise 100
  In October 2026, Intuitive agreed to settle the previously disclosed In re: da Vinci Surgical Robot Antitrust Litigation class action for a one-time payment of $450 million and mutually agreed injunctive relief,…
• Operating Income and MarginsImportance 80 · Surprise 84
  Third-quarter GAAP operating income declined 22% year over year to $593 million from $760 million, primarily because of the $454.9 million antitrust litigation charge recorded in selling, general, and administrative…
• Operating Expense TrendsImportance 77 · Surprise 82
  Third-quarter operating expenses increased 65% year over year to $1.49 billion from $903 million. Selling, general, and administrative expense increased to $1.08 billion from $573 million, primarily because of the…
• Gross Margin DriversImportance 67 · Surprise 66
  GAAP gross profit increased to $2.08 billion in the third quarter of 2026 from $1.66 billion in the prior-year quarter. GAAP gross margin expanded to 68.4% from 66.4%, while non-GAAP gross margin increased to 69.9%…
• Guidance / OutlookImportance 63 · Surprise 60
  For full-year 2026, Intuitive expects worldwide da Vinci procedure growth of approximately 14% to 15%, with growth expected near the midpoint of the range. Management forecasts non-GAAP gross profit margin of 68.7% to…
• Capital Return ProgramImportance 58 · Surprise 42
  Intuitive repurchased 7.8 million common shares for $2.94 billion in the third quarter of 2026. The repurchases reduced diluted weighted-average shares to 351.6 million from 361.8 million in the prior-year quarter.…
• Product Launch and TransitionImportance 55 · Surprise 66
  Intuitive placed 546 da Vinci surgical systems in the third quarter of 2026, up from 427 in the prior-year quarter. da Vinci 5 placements increased to 315 from 240, indicating continued transition toward the newer…
• Revenue Performance and MixImportance 52 · Surprise 30
  Third-quarter 2026 revenue increased 22% year over year to $3.05 billion from $2.51 billion and increased 5% sequentially from $2.89 billion in the second quarter. Instruments and accessories revenue rose 18% year over…
• Income Tax Rate ChangesImportance 47 · Surprise 48
  Third-quarter income tax expense was $144 million on $668 million of pretax income, implying a GAAP effective tax rate of approximately 21.5%. The prior-year quarter had $146 million of tax expense on $855 million of…
• Trade Policy and TariffsImportance 44 · Surprise 42
  Intuitive recognized a $22 million net-of-tax benefit in third-quarter 2026 from refunds of tariffs paid in prior periods under the International Emergency Economic Powers Act (IEEPA), including $27.8 million of…
• Distribution ChannelsImportance 41 · Surprise 48
  Operating lease arrangements represented 291 of the 546 da Vinci systems placed in the third quarter of 2026. Usage-based operating leases accounted for 160 of those placements, compared with 115 usage-based placements…
• Procedure Volume TrendsImportance 40 · Surprise 56
  Worldwide da Vinci and Ion procedures increased approximately 15% year over year in the third quarter of 2026. Da Vinci procedures grew approximately 14%, while Ion procedures grew approximately 31%. Intuitive placed…
• Liquidity and Cash PositionImportance 28 · Surprise 42
  The company recognized $27.8 million of third-quarter tariff refunds, including $25.7 million in product cost and $2.1 million in service cost. The refunds produced a $22 million net-of-tax benefit, or $0.06 per…
• Product Recall and SafetyImportance 3 · Surprise 6
  The company did not report a product recall or quantified product-safety charge in the third-quarter 2026 financial results. Third-quarter revenue growth reflected continued use of da Vinci and Ion systems, with…

News · 2026-10-20

• Product Launch and TransitionImportance 34 · Surprise 42
  Intuitive plans to begin an Extended Use Program in the first half of 2027 for a subset of EndoWrist instruments compatible with fourth- and fifth-generation da Vinci platforms. Extending instrument useful lives is…
• Strategic Cost ReductionImportance 34 · Surprise 42
  Intuitive Surgical plans to lower customer costs for selected robotic-assisted procedures through its Extended Use Program (EUP). Beginning in the first half of 2027, the company will increase the useful life of a…
• Distribution ChannelsImportance 30 · Surprise 40
  Operating leases represented 54% of second-quarter da Vinci placements, up from 49% a year earlier. The increased use of leasing lowers hospitals’ upfront financial commitment for robotic systems and may broaden…
• Leasing Adoption StrategyImportance 30 · Surprise 40
  Operating leases accounted for 54% of second-quarter da Vinci placements, up from 49% a year earlier. The higher leasing mix lowers hospitals’ upfront financial commitments and may support broader robotic-surgery…