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How Intuitive Surgical (ISRG) makes money: Q2 2026 revenue breakdown
US GAAP · $M · vs Q2 2025 · reported 07/16/2026
Intuitive Surgical, Inc. is an American biotechnology company that develops, manufactures, and markets robotic products designed to improve clinical outcomes of patients through minimally invasive surgery, most notably with the da Vinci Surgical System. · Wikipedia
More about the company
The company is part of the Nasdaq-100, S&P 100 and S&P 500. As of 31 December 2021, Intuitive Surgical had an installed base of 6,730 da Vinci Surgical Systems, including 4,139 in the U.S., 1,199 in Europe, 1,050 in Asia, and 342 in the rest of the world.
Key growth driver: Instruments & Accessories — the fastest-growing revenue line: $1,735, +18% y/y. · by the Q2 2026 report
How does Intuitive Surgical make money?
Intuitive Surgical brought in $2.89 billion of revenue in Q2 2026, up 18.5% year over year. The largest source was Instruments & Accessories: $1.73 billion, or 60% of the total, followed by Systems ($685M, 24%) and Services ($472M, 16%). Net income for the quarter was $818 million, up 24.3% year over year.
Revenue by source, Q2 2026
- Instruments & Accessories$1.73B · 60% · +17.7%
- Systems$685M · 24% · +19.2%
- Services$472M · 16% · +20.8%
Shares of $2.89B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is ISRG’s next earnings date?
Tuesday, October 20, 2026confirmed · after market close
Intuitive Surgical (ISRG) is scheduled to report results for the quarter ending Sep 2026 on Oct 20, 2026. Consensus EPS forecast: $2.13 (8 analysts), vs $1.96 in the same quarter last year.
What time does ISRG report? Usually after market close: the last 4 results releases reached the SEC at 4:05 pm, 4:09 pm, 4:05 pm, 8:58 am ET.
Last report: Jul 16, 2026 (Q2 2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$2,892
+18.5%
Gross profit
$1,960
+21.2%
67.8% margin
Operating income
$972
+30.7%
33.6% margin
Net income
$818
+24.3%
$2.29 diluted EPS
Verdict: a strong quarter with revenue up 19% and GAAP net income up 24%, driven by robust instrument/accessory pull-through from procedure growth (da Vinci +15%, Ion +36%) and margin expansion, partially offset by rising SG&A/R&D investment and a one-time $28M IEEPA tariff refund benefit that flatters GAAP results.
Cash & investments $8.63B (+$0.65B q/q); repurchased 0.9M shares for $0.38B; FY2026 outlook: da Vinci procedure growth ~13.5-15.5%, non-GAAP gross margin 68-69%, non-GAAP opex growth 11-13%.
Source and notation
* marks non-cash / ≈ estimated. Source: Intuitive Surgical press release / 10-Q (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
ISRG earnings history: past report dates
| Jul 16, 2026 Thu | 4:05 pmafter market close | Jun 30, 2026 | $2.9B+19% y/y | $2.29+27% y/y |
| Apr 21, 2026 Tue | 4:09 pmafter market close | Mar 31, 2026 | $2.8B+23% y/y | $2.28+19% y/y |
| Jan 14, 2026 Wed | 8:58 ambefore market open | Dec 31, 2025 | ≈$2.9B+19% y/y | ≈$2.19+16% y/y |
| Oct 21, 2025 Tue | 4:03 pmafter market close | Sep 30, 2025 | $2.5B+23% y/y | $1.95+25% y/y |
| Jul 22, 2025 Tue | 4:03 pmafter market close | Jun 30, 2025 | $2.4B+21% y/y | $1.81+24% y/y |
| Apr 22, 2025 Tue | 4:03 pmafter market close | Mar 31, 2025 | $2.3B+19% y/y | $1.92+27% y/y |
| Jan 15, 2025 Wed | 9:00 ambefore market open | Dec 31, 2024 | ≈$2.4B+25% y/y | ≈$1.89+12% y/y |
| Oct 17, 2024 Thu | 4:02 pmafter market close | Sep 30, 2024 | $2.0B+17% y/y | $1.56+34% y/y |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Intuitive Surgical: 5-year financials
| 2025 | 10,065 | 2,946 | 2,856 |
| 2024 | 8,352 | 2,349 | 2,323 |
| 2023 | 7,124 | 1,767 | 1,798 |
| 2022 | 6,222 | 1,577 | 1,322 |
| 2021 | 5,710 | 1,821 | 1,705 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP).
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
2/2good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Jun 2018Intuitive Surgical agreed to pay $42.5M to settle a shareholder class action — below the methodology's $50M threshold. sec.gov ↗
- Feb 2026Per the 2025 10-K, one class of shares; the notes list no pending shareholder disclosure suits or SEC cases. sec.gov ↗
- Dec 2025Diluted share count 2020→2025 +0.5%; SBC is 7.8% of revenue (XBRL 10-K). data.sec.gov ↗
Scoring: 2.0, no deductions = 2.0
- Share classes
- Single class of common stock (10-K cover).
- Dilution
- Diluted share count 2020→2025 +0.5%; SBC 7.8% of revenue (<10%); buybacks of $2.6B in 2022 and $2.3B in 2025.
- Disclosure
- 10-Ks and 10-Qs filed on time, audited US GAAP financials; no deduction.
- Dividends
- Pays no dividends and has not promised any — no deduction.
- Lawsuits & regulators
- The 2013 shareholder class action was settled in 2018 for $42.5M — below the $50M threshold, no deduction; the 10-K shows no new shareholder suits or SEC cases.
- Related parties
- No non-arm's-length related-party transactions.
How the score works · checked as of Sep 2026
Intuitive Surgical (ISRG) earnings: FAQ
How does Intuitive Surgical make money?
Intuitive Surgical brought in $2.89 billion of revenue in Q2 2026, up 18.5% year over year. The largest source was Instruments & Accessories: $1.73 billion, or 60% of the total, followed by Systems ($685M, 24%) and Services ($472M, 16%). Net income for the quarter was $818 million, up 24.3% year over year.
When is ISRG's next earnings date?
Intuitive Surgical (ISRG) is scheduled to report on Oct 20, 2026, after market close.
What time does ISRG report earnings?
Intuitive Surgical is scheduled to report after market close on Oct 20, 2026. Its last results releases were filed after market close, most recently at 4:05 pm ET on Jul 16, 2026.
When did ISRG last report earnings?
Intuitive Surgical reported Q2 2026 results on Jul 16, 2026.
What is the EPS estimate for ISRG's next earnings?
The consensus EPS forecast is $2.13 (8 analysts), vs $1.96 in the same quarter last year.
Where can I find Intuitive Surgical's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to ISRG's filings; this page breaks the latest report down in a Sankey chart.
What was ISRG's net income in Q2 2026?
Intuitive Surgical reported net income of $818M for Q2 2026 (+24.3% year over year), under US GAAP.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 08/25/2026. How we make the breakdowns · Report an error
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