Open report — full analysis, no account required.
Sign up to generate reports and read filings that aren't on the open list.
Get notified when ISRG files again. Create a free account and we'll email you the moment its next filing is analyzed.
Get filing alertsIntuitive Surgical reports Q2 revenue up 19% to $2.89B, procedure growth 16%, non-GAAP EPS $2.80
Filed July 16, 2026 · Period ending July 16, 2026 · ~1 min read
Key Changes
-
high
Q2 revenue $2.89B (+19% YoY) driven by 16% procedure growth; da Vinci procedures +15%, Ion +36%. Non-GAAP EPS $2.80 vs $2.19 prior year.
Exhibit 99.1 view on EDGAR → -
high
Placed 468 da Vinci systems (246 da Vinci 5) vs 395 prior year; installed base grew 12% to 11,710 systems. Ion base +21% to 1,096 systems.
Exhibit 99.1 view on EDGAR → -
high
2026 guidance: da Vinci procedure growth 13.5%–15.5% (expects midpoint), non-GAAP gross margin 68.0%–69.0% including 1.0% tariff impact.
Exhibit 99.1 view on EDGAR → -
medium
Q2 results included $28M after-tax benefit ($0.08/share) from IEEPA tariff refunds for prior periods, a one-time boost to both GAAP and non-GAAP earnings.
Exhibit 99.1 view on EDGAR →
Summary
Intuitive Surgical reported strong Q2 2026 results with revenue up 19% to $2.89 billion and procedure volumes up 16% year-over-year. The da Vinci franchise grew procedures 15% while the newer Ion platform accelerated 36%, demonstrating broad-based demand.
System placements rose to 468 da Vinci units (including 246 of the latest da Vinci 5) from 395 in the prior-year quarter, expanding the installed base 12% to 11,710 systems. Non-GAAP EPS of $2.80 beat the prior year's $2.19, though results included an $0.08/share one-time benefit from tariff refunds.
The company guided 2026 da Vinci procedure growth to 13.5%–15.5% (expecting the midpoint) and non-GAAP gross margin of 68.0%–69.0%, explicitly factoring in a 1.0 percentage point tariff headwind. Operating expense growth is expected at 11%–13%. The guidance reflects confidence in procedure volume momentum while acknowledging margin pressure from tariffs. Investors should monitor whether the da Vinci 5 upgrade cycle sustains placement growth and whether tariff impacts remain contained to the disclosed 1.0% of revenue.
Section-by-Section Diff
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Second quarter 2026 GAAP net income attributable to Intuitive Surgical, Inc. was $818 million, or $2.29 per diluted share, compared with $658 million, or $1.81 per diluted share, in the second quarter of 2025. ... Second quarter 2026 non-GAAP* net income attributable to Intuitive Surgical, Inc. was $1.00 billion, or $2.80 per diluted share, compared with $0.80 billion, or $2.19 per diluted share, in the second quarter of 2025.
GAAP net income was $818 million ($2.29 per diluted share), up from $658 million ($1.81 per share) in Q2 2025. Non-GAAP net income was $1.00 billion ($2.80 per diluted share), up from $0.80 billion ($2.19 per share) in the prior-year quarter, reflecting strong operational performance.
Added in current filing · view on EDGAR →
Worldwide da Vinci procedure growth of approximately 13.5% to 15.5% in 2026. The Company expects to be closer to the midpoint of this range. ... Non-GAAP* gross profit margin to be within a range of 68.0% to 69.0% of revenue in 2026. This range includes an estimated impact from tariffs of 1.0% of revenue. ... Non-GAAP* operating expense growth of 11% to 13% in 2026.
Intuitive expects 2026 da Vinci procedure growth of 13.5% to 15.5% (closer to midpoint), non-GAAP gross margin of 68.0% to 69.0% (including a 1.0% tariff impact), and non-GAAP operating expense growth of 11% to 13%. The guidance reflects confidence in procedure volume growth while acknowledging tariff headwinds on margins.
Thanks — your feedback helps us improve report quality.
Figures/quotes linked to EDGAR · Narrative written by AI · Jul 20, 2026 · How we verify