01—Abstract
Summary
Summary of the 8-K filed October 20, 2026. Cited figures are marked; the original filing is the authoritative source.
Intuitive Surgical, Inc. (ISRG) reported its third-quarter 2026 financial results, showcasing robust top-line growth driven by increased procedure volumes and system placements.
Worldwide procedures, combining da Vinci and Ion, grew approximately 15% year-over-year, with da Vinci procedures up 14% and Ion procedures seeing a significant 31% increase. This strong procedural growth translated into a 22% rise in total revenue to $3.05 billiona. The company also demonstrated strong system placement growth, with 546 da Vinci systems and 56 Ion systems deployed, contributing to an expanding installed base.
While revenue and procedural growth were strong, reported GAAP net income was impacted by a significant pre-tax charge of $450 millionb related to the settlement of antitrust class action litigation. This charge significantly affected diluted GAAP EPS, reducing it to $1.49.
However, on a non-GAAP basis, which excludes this litigation charge and other items, net income grew to $1.05 billionc, with non-GAAP diluted EPS reaching $3.00, indicating healthy underlying operational performance. The company also reiterated its full-year 2026 outlook, projecting continued strong da Vinci procedure growth and providing guidance for non-GAAP gross profit margin and operating expense growth.
02—Key points
Key Highlights
- Worldwide procedures (da Vinci and Ion combined) increased by approximately 15% compared to Q3 2025, with da Vinci up 14% and Ion up 31%.
- Total revenue grew 22% year-over-year to $3.05 billion, driven by procedure volume and system placements.
- Da Vinci system placements reached 546, a substantial increase from 427 in Q3 2025, with 315 being the newer da Vinci 5 models.
- GAAP net income was $523 million ($1.49 per diluted share), negatively impacted by a $450 million pre-tax charge for antitrust litigation settlement.
- Non-GAAP net income rose to $1.05 billion ($3.00 per diluted share), demonstrating strong underlying profitability excluding the litigation charge.
- The company's cash, cash equivalents, and investments decreased to $6.80 billion from $9.03 billion at the end of 2025, primarily due to share repurchases and capital expenditures.
- Intuitive Surgical reiterated its full-year 2026 outlook, expecting approximately 14% to 15% worldwide da Vinci procedure growth.
03—Questions
Frequently Asked Questions
What was the main factor impacting GAAP net income in Q3 2026?
The primary factor impacting GAAP net income in the third quarter of 2026 was a pre-tax charge of $450 million related to the settlement of previously disclosed antitrust class action litigation. This charge resulted in a significant decrease in reported GAAP net income and diluted earnings per share.
How did the company's procedure volumes perform in Q3 2026?
Procedure volumes showed strong growth. Worldwide procedures (da Vinci and Ion combined) grew approximately 15% compared to the prior year's third quarter. Specifically, da Vinci procedures increased by about 14%, and Ion procedures saw a notable 31% increase.
What is the outlook for full-year 2026?
Intuitive Surgical expects full-year 2026 worldwide da Vinci procedure growth to be approximately 14% to 15%. The company also provided guidance for its non-GAAP gross profit margin to be between 68.7% and 69.3% of revenue, and non-GAAP operating expense growth to be between 11% and 13%.
How did the system placements perform in Q3 2026?
System placements were strong, with 546 da Vinci surgical systems placed globally, compared to 427 in the third quarter of 2025. This included 315 da Vinci 5 systems. Additionally, 56 Ion endoluminal systems were placed, up from 50 in the prior year's quarter.
04—Continue