ISRG · 8-K · 20261020PR000067
Operating Income and Margins
INTUITIVE SURGICAL INC · 2026-10-20 · Importance 80 · Surprise 84 · No source text
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 expense. Non-GAAP operating income increased 30% to $1.27 billion from $976 million. GAAP operating margin fell to approximately 19.4% from 30.3%, while non-GAAP operating margin increased to approximately 41.7% from 38.9%. GAAP net income attributable to Intuitive declined to $523 million from $704 million, whereas non-GAAP net income increased to $1.05 billion from $867 million.
Key facts
- Third quarter 2026 non-GAAP income from operations increased to $1.27 billion, compared with $976 million in Q3 2025. source
- Third quarter 2026 GAAP net income attributable to Intuitive Surgical, Inc. was $523 million, or $1.49 per diluted share, compared with $704 million, or $1.95 per diluted share, in Q3 2025. source
- Third quarter 2026 non-GAAP net income attributable to Intuitive Surgical, Inc. was $1.05 billion, or $3.00 per diluted share, compared with $867 million, or $2.40 per diluted share, in Q3 2025. source
- Third quarter 2026 GAAP income from operations decreased to $593 million compared with $760 million in Q3 2025. source
- On the consolidated income statement for Q3 2026, income from operations was $592.6 million, interest and other income net was $75.8 million, income before taxes was $668.4 million, income tax expense was $144.0 million, and net income attributable to Intuitive Surgical, Inc. was $522.8 million. source
- Non-GAAP net income attributable to Intuitive for the three months ended September 30, 2026 was $1,054.5 million, and non-GAAP net income per diluted share was $3.00. source
- GAAP net income for nine months ended September 30, 2026 was $2,162.4 million attributable to Intuitive Surgical, Inc., with diluted EPS of $6.07. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | realized | +10.2% | Third quarter 2026 non-GAAP income from operations increased to $1.27 billion, compared with $976 million in Q3 2025. |
| net_income | positive | realized | +6.5% | Third quarter 2026 non-GAAP net income attributable to Intuitive Surgical, Inc. was $1.05 billion, or $3.00 per diluted share, compared… |
| net_income | negative | realized | -6.3% | Third quarter 2026 GAAP net income attributable to Intuitive Surgical, Inc. was $523 million, or $1.49 per diluted share, compared with… |
| operating_income | negative | realized | -5.8% | Third quarter 2026 GAAP income from operations decreased to $593 million compared with $760 million in Q3 2025. |
| net_income | positive | realized | — | GAAP net income for nine months ended September 30, 2026 was $2,162.4 million attributable to Intuitive Surgical, Inc., with diluted EPS… |