Intuitive Surgical 8-K
PositiveEarningsNew guidance
More procedures, higher da Vinci leasing revenue and a larger installed base drove revenue growth.
Filed 2026-07-16 16:05 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q2 2026 results with FY2026 guidance. Intuitive reported 19% revenue growth, supported by higher procedure volume, da Vinci system leasing revenue and a larger installed base. It expects 2026 da Vinci procedure growth of 13.5%-15.5%, non-GAAP gross margin of 68.0%-69.0% and non-GAAP operating expense growth of 11%-13%.
Key Figures
| Metric | Q2 2026 | Q2 2025 | Y/Y |
|---|---|---|---|
| Revenue | $2.89B | $2.44B | 19% |
| Income from operations, GAAP | $972M | $743M | 31% |
| Income from operations, non-GAAP | $1.22B | $947M | 29% |
| Net income attributable to Intuitive Surgical, Inc., GAAP | $818M | $658M | 24% |
| Net income attributable to Intuitive Surgical, Inc., non-GAAP | $1.00B | $798M | 26% |
| Diluted EPS, GAAP | $2.29 | $1.81 | 27% |
| Diluted EPS, non-GAAP | $2.80 | $2.19 | 28% |
- Worldwide procedures grew ≈16% Y/Y: da Vinci procedures ≈15% and Ion procedures ≈36%. Intuitive placed 468 da Vinci systems, including 246 da Vinci 5 systems, and 55 Ion systems; installed bases reached 11,710 da Vinci systems (+12%) and 1,096 Ion systems (+21%).
- Revenue growth reflected procedure volume, higher da Vinci system leasing revenue and a larger installed base. GAAP and non-GAAP net income each included a $28M net-of-tax benefit from prior-period tariff refunds, or $0.08 per diluted share.
- Cash, cash equivalents and investments were $8.63B at quarter-end, up $650M during the quarter. Intuitive repurchased 0.9M shares for $380M.
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| da Vinci procedure growth | FY2026 | ≈13.5%-15.5%; expected closer to midpoint | — | — |
| Gross profit margin, non-GAAP | FY2026 | 68.0%-69.0% of revenue | — | — |
| Operating expense growth, non-GAAP | FY2026 | 11%-13% | — | — |
Investor Takeaways
- FY2026 da Vinci procedure growth vs the 13.5%-15.5% outlook will indicate whether procedure momentum continues.
- The gross margin outlook assumes current tariffs remain in place through year-end and includes an estimated tariff impact of 1.0% of revenue; additional tariffs beyond expectations could materially affect results.
The summary is written by an AI model reading the filing.
Model 005 · prompt 01d34d48e3