ISRG · Earnings call · 2026Q3T · Full report

Operating Expense Trends

INTUITIVE SURGICAL INC · 2026-10-20 · Importance 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, and management planned to continue prioritizing investment in existing and new platforms and AI capabilities. Full-year 2026 non-GAAP operating-expense growth was still forecast at 11% to 13%, with R&D growth expected to remain above SG&A for the rest of the year.

Key facts

• Q3 2026 non-GAAP operating expenses increased 18% year over year.
• Intuitive expects to prioritize incremental investment in existing and new platforms and AI capabilities.