Intuitive Surgical, Inc. (ISRG) Earnings Call Transcripts

Intuitive Surgical, Inc.'s Latest Earnings Call - Q2 FY2026

In Q2 2026, Intuitive Surgical, Inc. reported a robust revenue increase of 19% year-over-year, reaching $2.89 billion, driven by strong adoption of its da Vinci and Ion platforms. Non-GAAP earnings per share rose 28% to $2.80, reflecting solid operational execution despite some moderation in U.S. procedure growth due to changes in patient coverage dynamics. Management maintained its full-year guidance for da Vinci procedure growth at 13.5% to 15.5%, indicating confidence in recovery as deferred procedures are expected to return.

Reported metrics

Guidance from management

Management maintained its full-year guidance for da Vinci procedure growth at 13.5% to 15.5%, expecting to be closer to the midpoint. They updated non-GAAP gross profit margin guidance to a range of 68% to 69%.

What management said

Yes. Here's what I'd say about that is it's clear that cybersecurity is front and center when you talk to our customers and across the globe. And so really, the introduction of this new encryption technology is just part of our continued investment to strengthen the security of our products, the quality of our products, the availability of our products. And really, that's what it is centered on in this case.

Yes. I think we expect procedure adoption to take some time given the newer categories and in some cases, you need to work through surgeon training and so forth. And despite the new reimbursements, I think we're balanced about the continuing financial challenges along with some of the financial incentives that now exist. So I think that will be progressive over some time. What have we said about the size of the marke...

What analysts pressed on

Analysts expressed concerns about the impact of ACA premium expirations on U.S. procedure growth and the potential for deferred procedures to return. There were also questions regarding the capital environment and the implications of Medicaid and ACA exposure on future growth.

Main topics on the call

• Procedure Growth Trends — Total procedures increased by 16%, with da Vinci procedures growing 15% and Ion procedures up 36%. Management noted, "U.S. da Vinci procedure growth moderated from recent trends," indicating potential challenges ahead du...
• Strong Capital Performance — Intuitive placed 468 da Vinci systems and 55 Ion systems in Q2, an 18% increase in da Vinci placements year-over-year. This reflects strong customer demand, particularly for the da Vinci 5 platform, as noted by managemen...
• International Market Dynamics — While growth in U.S. procedures moderated, international markets saw a 21% increase in total procedures. Management highlighted strong performance in India and Japan, with Japan's new reimbursement policies expected to s...
• Extended Use Program — Management announced an extended use program for EndoWrist instruments, expected to launch in the first half of 2027. This initiative aims to lower costs for benign procedures, enhancing adoption in cost-sensitive market...

Read the full Intuitive Surgical, Inc. transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 51 Intuitive Surgical, Inc. earnings call transcripts on record, spanning January 14, 2020 to July 16, 2026. Based on this history, Intuitive Surgical, Inc. reports quarterly. The most recent call on file is dated July 16, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

ISRG

Exchange

NasdaqGS

Country

US

Sector

Health Care

Industry

Health Care Equipment and Supplies

Calls on record

51

First call

January 14, 2020

Most recent

July 16, 2026

Reporting cadence

quarterly