Intuitive Surgical Q2 Earnings: 19% Revenue Growth, $2.80 Non-GAAP EPS, Raises Procedure Outlook
ISRG is trading near its 52-week low of $378.5 (1.7% below the low) on elevated volume (2.0× avg).
Summary
Intuitive Surgical reported Q2 2026 revenue of $2.89 billion (+19% YoY) and non-GAAP EPS of $2.80, beating expectations. Procedure growth accelerated to 16%, and the company raised its full-year da Vinci procedure growth outlook to 13.5%-15.5%.
Key Events · Earnings and Guidance · ISRG
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Q2 Revenue +19% to $2.89B
Revenue rose 19% YoY to $2.89 billion, driven by 16% procedure growth and higher system placements. Instruments & accessories revenue grew 18% to $1.73 billion, systems revenue up 19% to $685 million.
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Non-GAAP EPS $2.80 vs $2.19
Non-GAAP net income reached $1.00 billion, or $2.80 per diluted share, compared to $0.80 billion, or $2.19 per share, in Q2 2025. GAAP EPS was $2.29 vs $1.81.
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Procedure Growth Accelerates to 16%
Worldwide procedures grew ~16% YoY, with da Vinci up ~15% and Ion up ~36%. The company raised its full-year da Vinci procedure growth outlook to 13.5%-15.5%, expecting to be near the midpoint.
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Da Vinci 5 Drives System Placements
Placed 468 da Vinci systems (246 da Vinci 5) vs 395 in Q2 2025. Installed base reached 11,710 da Vinci systems (+12% YoY) and 1,096 Ion systems (+21% YoY).
Analysis · ISRG · Industrial Applications And Services
Intuitive Surgical delivered a strong Q2, with revenue rising 19% to $2.89 billion and non-GAAP EPS of $2.80 beating the year-ago $2.19. Procedure growth accelerated to 16%, driven by da Vinci 5 adoption and Ion's 36% surge. The company raised its full-year da Vinci procedure growth outlook to 13.5%-15.5%, signaling confidence in sustained demand. With $8.63 billion in cash and aggressive buybacks, the quarter reinforces Intuitive's dominance in robotic surgery, though tariff risks remain a watchpoint.
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At the time of this filing, ISRG was trading at $372.00 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $142.5B. The 52-week trading range was $378.50 to $603.88. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.