Intuitive Surgical (NASDAQ: ISRG) revenue jumps 22% as procedures grow

What happened

Intuitive Surgical, Inc. (NASDAQ: ISRG) said third-quarter 2026 revenue rose 22% to $3.05 billion.

Worldwide procedures for da Vinci and Ion combined grew about 15%. da Vinci procedures rose about 14%, and Ion procedures rose about 31%.

The company placed 546 da Vinci surgical systems, including 315 da Vinci 5 systems. A year earlier, it placed 427 systems, including 240 da Vinci 5 systems.

Instruments and accessories revenue rose 18% to $1.80 billion. Systems revenue climbed to $769 million from $590 million.

The da Vinci installed base reached 12,094 systems as of September 30, 2026, up 12% from 10,763 a year earlier. The Ion installed base reached 1,152, up 21% from 954.

GAAP net income attributable to Intuitive Surgical, Inc. fell to $523 million, or $1.49 per diluted share, from $704 million, or $1.95, a year earlier.

The quarter included a pre-tax $450 million charge tied to settlement of previously disclosed antitrust class action litigation. Non-GAAP net income rose to $1.05 billion, or $3.00 per diluted share.

Key numbers

Metric	Latest	Change	Source
Revenue	$3.05 billion	from $2.51 billion, +22%	SEC 8-K earnings release
Instruments and accessories revenue	$1.80 billion	from $1.52 billion, +18%	SEC 8-K earnings release
Systems revenue	$769 million	from $590 million, +30.3%	SEC 8-K earnings release
da Vinci surgical systems placed	546 systems	from 427 systems, +27.9%	SEC 8-K earnings release
GAAP net income attributable to Intuitive Surgical, Inc.	$523 million	from $704 million, -25.7%	SEC 8-K earnings release

Read more: Intuitive Surgical (ISRG) stock analysis and investment case

Why it matters

OptimistFi's case is that a larger installed base should keep producing recurring instrument and service revenue.

This filing supports that view with about $0.54 billion of year-over-year revenue growth and higher instruments and accessories sales.

But the settlement charge weighs on the GAAP comparison. The filing also says 2026 non-GAAP gross profit margin guidance includes an estimated tariff hit of 0.9% of revenue. That makes the quarter look like demand strength, not clean earnings leverage.

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What's next

Intuitive said it will hold a teleconference at 1:30 p.m. PDT today, and the webcast replay will be available within 24 hours.

The antitrust settlement still needs preliminary and final court approval. Approval would remove one overhang. Objections would leave it unresolved.

For full-year 2026, the company expects worldwide da Vinci procedure growth of about 14% to 15% and non-GAAP gross profit margin of 68.7% to 69.3% of revenue.

It also expects non-GAAP operating expense growth of 11% to 13%.

Results near the midpoint of that range would support the case. Weaker procedure growth or more tariff pressure would weaken it.

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