AI-extracted from the 10-Q filed 2026-10-21 — Q3 2026 (quarter ended September 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Revenue surged 22% to $3.05B as da Vinci procedures grew 14% and systems placements jumped 28%, but operating income fell 22% due to $450M antitrust settlement charge.
Biggest Revenue Drivers
Instruments and accessories$1,797.4M+18% YoY
14% higher da Vinci procedure volume, higher instruments revenue per procedure from da Vinci 5 mix, and 31% higher Ion procedure volume.
Systems$769.1M+30% YoY
Increased da Vinci surgical system placements (546 units, +28% YoY), higher operating lease revenue, and higher lease buyout revenue ($45M).
Biggest Revenue Drivers
Total revenue: $3,048.7M+22% YoY
Instruments and accessories$1,797.4M+18% YoY
14% higher da Vinci procedure volume, higher instruments revenue per procedure from da Vinci 5 mix, and 31% higher Ion procedure volume.
Systems$769.1M+30% YoY
Increased da Vinci surgical system placements (546 units, +28% YoY), higher operating lease revenue, and higher lease buyout revenue ($45M).
Service$482.2M+22% YoY
Larger installed base of systems producing service revenue and favorable product mix, particularly from da Vinci 5 system placements.
Largest Expense Items
Antitrust class action litigation settlement$450.0MN/A
Settlement of da Vinci instrument repair and replacement antitrust class action case, subject to court approval.
Research and development$408.3M+24% YoY
Higher direct project costs to support expanded product development initiatives and increased personnel-related expenses from higher headcount.
Selling, general, and administrative$633.4M+10% YoY
Higher personnel-related expenses from increased headcount and higher employee compensation, including variable and share-based compensation.
Cost of revenue$964.4M+14% YoY
Product and service cost growth, partially offset by IEEPA tariff refunds of $27.8M and fixed overhead leverage.
Margins: Gross profit margin expanded to 68.4% from 66.4% YoY, driven by IEEPA tariff refunds, fixed overhead leverage, and lower logistics costs, partially offset by higher tariffs and intangible asset amortization. Operating margin contracted sharply due to the $450M litigation settlement charge.
Watch Items from the Filing
$450M antitrust settlement pending court approval; if not approved or if class members object, Company faces potential trial and uncertain outcome.
China system placements declined in Q3 due to competitive pressures, governance campaign, and NHSA unified national pricing framework expected to reduce instruments revenue per procedure by 3-5% starting Q4 2026.
U.S. da Vinci procedure growth of 10% in Q3 slowed from 16% YoY; bariatric procedures declined low double-digits; expiration of enhanced ACA premium subsidies creates ongoing headwind.
Operating lease placements increased to 53% of da Vinci systems; usage-based arrangements have no minimum payments and customers can exit without penalty, creating revenue volatility and utilization risk.
Significant product cost reductions and pricing actions planned for 2027 (extended instrument uses, volume-based pricing) expected to reduce instruments revenue per procedure ~3-5% once implemented.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
59 transactions in ISRG reported by 14 members of Congress under the STOCK Act, most recent trade Jan 30, 2026. Reported transactions, not recommendations.
About INTUITIVE SURGICAL INC (ISRG): stock profile, AI score and financials
INTUITIVE SURGICAL INC (ISRG) stock profile, AI quality score, and SEC EDGAR financial data, a Healthcare sector company. 13F Pro's AI-powered ranking engine scores ISRG at 79.3/100 on a composite quality score built from its SEC filings, placing it at rank #39 of 2,925 stocks — the top 5% of the AI-ranked universe. ISRG scores in the top quartile across balance sheet strength (93.1), revenue scale (87.5), free cash flow (85.2). Shareholder dilution risk is elevated at 18.6/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q3 2026), INTUITIVE SURGICAL INC reports quarterly revenue of $3.0B, net income of $522.8M, an operating margin of 19.4%. Top institutional holders of ISRG by reported 13-F value include BlackRock, VANGUARD CAPITAL MANAGEMENT, STATE STREET, based on the most recent SEC filings. ISRG trades on the Nasdaq exchange and files with the SEC under CIK 1035267. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate ISRG daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for INTUITIVE SURGICAL INC directly from SEC EDGAR.