Intuitive Surgical (ISRG) Earnings: Q3 2026 Results and Next Report Date

The quarter ended September 30, 2026 and Intuitive published the results on October 20, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Intuitive reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Q3 2026 GAAP results include a $450 million pre-tax charge for the settlement of the da Vinci antitrust class action, $347 million or $0.99 per diluted share net of tax. The settlement still needs preliminary and final court approval.
• GAAP and non-GAAP results both include a $22 million benefit, net of tax, or $0.06 per diluted share, from refunds of tariffs paid in prior periods under IEEPA.

Source: Intuitive Q3 2026 results, October 20, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Intuitive splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Intuitive's Instruments and accessories revenue was $1.8 billion in Q3 2026, up 18% from $1.5 billion in Q3 2025, 59% of total revenue.
• Intuitive's Systems revenue was $769 million in Q3 2026, up 30% from $590 million in Q3 2025, 25% of total revenue.
• Intuitive's Services revenue was $482 million in Q3 2026, up 22% from $396 million in Q3 2025, 16% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Intuitive's outlook covers procedure growth, gross margin and operating expenses. It gives no revenue or EPS figure.

In its Q3 2026 release, Intuitive said:

“Worldwide da Vinci procedure growth of approximately 14% to 15% in 2026. The Company expects to be closer to the midpoint of this range.”

“Non-GAAP* gross profit margin to be within a range of 68.7% to 69.3% of revenue in 2026. This range includes an estimated impact from tariffs of 0.9% of revenue (excluding recognized tariff refunds).”

“Non-GAAP* operating expense growth of 11% to 13% in 2026.”

Source: Intuitive Q3 2026 earnings release, Oct 20, 2026.

This is the company's own guidance as of Oct 20, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the ISRG forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted EPS, each as first reported in that quarter's release.

Intuitive's next report is expected around January 21, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q3 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 20, 2026

Intuitive's revenue is mostly recurring. Of $3,048.7 million in Q3 2026, instruments and accessories were $1,797.4 million, systems $769.1 million and services $482.2 million. Intuitive counts instruments and accessories, services and operating lease revenue ($275.0 million) as recurring revenue, which totaled $2,554.6 million, or 84% of total revenue, against 85% a year earlier. (Intuitive Q3 2026 earnings release, Oct 20, 2026; Intuitive Form 10-Q, Q3 2026, Oct 21, 2026)

Intuitive put the 22% revenue increase down to growth in procedure volume, higher operating lease revenue and a larger installed base of systems. Instruments and accessories revenue rose 18%, driven by about 14% growth in da Vinci procedures and about 31% growth in Ion procedures, and worldwide procedures grew about 15%. CEO Dave Rosa said customers performed, on average, over 10,000 procedures per day during the quarter. (Intuitive Q3 2026 earnings release, Oct 20, 2026)

Intuitive placed 546 da Vinci systems in the quarter, against 427 a year earlier, including 315 da Vinci 5 systems (240 a year earlier), and 56 Ion systems (50). Of the da Vinci placements, 291 were under operating leases and 160 of those were usage-based, against 231 and 115. The da Vinci installed base reached 12,094 systems, up 12%, and the Ion installed base 1,152, up 21%. A da Vinci system generally sells for between $0.6 million and $3.1 million, depending on model, configuration and geography. (Intuitive Q3 2026 earnings release, Oct 20, 2026; Intuitive Form 10-Q, Q3 2026, Oct 21, 2026)

Intuitive's U.S. revenue was $2,063.0 million and revenue outside the U.S. was $985.7 million, against $1,717.6 million and $787.5 million a year earlier. The 10-Q flags price reductions in China under the NHSA unified national pricing framework, which Intuitive expects to reduce instruments and accessories revenue per procedure. Intuitive makes a significant majority of its instruments and accessories in Mexico and a majority of its endoscopes in Germany. (Intuitive Form 10-Q, Q3 2026, Oct 21, 2026; Intuitive Q3 2026 earnings release, Oct 20, 2026)

Intuitive's GAAP diluted EPS fell to $1.49 from $1.95 because of a $450 million pre-tax charge to settle the In re: da Vinci Surgical Robot Antitrust Litigation class action. Intuitive reached the agreement in October 2026 without admitting liability, and the settlement still needs court approval. The charge cost $347 million net of tax, or $0.99 per diluted share, and litigation charges in selling, general and administrative expenses totaled $454.9 million in the quarter. (Intuitive Q3 2026 earnings release, Oct 20, 2026)

Intuitive's non-GAAP EPS was $3.00, against $2.40. Its non-GAAP measures exclude share-based compensation ($212.6 million this quarter), amortization of intangible assets, litigation charges, acquisition-related items and tax adjustments, which include excess tax benefits from share-based compensation ($13 million, or $0.04 per diluted share, this quarter). GAAP and non-GAAP results both include a $22 million, or $0.06 per diluted share, benefit from refunds of tariffs paid in prior periods under IEEPA. (Intuitive Q3 2026 earnings release, Oct 20, 2026)

Intuitive repurchased 7.8 million shares for $2,939.8 million in the quarter, an average price of $377.01, and diluted weighted average shares fell to 351.6 million from 361.8 million. Cash, cash equivalents and investments fell $1.83 billion during the quarter to $6.80 billion. The effective tax rate for the first nine months was 18.4%, against 11.8% a year earlier. (Intuitive Form 10-Q, Q3 2026, Oct 21, 2026; Intuitive Q3 2026 earnings release, Oct 20, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Intuitive gives a full-year outlook in its release but no revenue or EPS figure. For 2026 it expects worldwide da Vinci procedure growth of about 14% to 15%, closer to the midpoint of that range, non-GAAP gross profit margin of 68.7% to 69.3% of revenue, including an estimated tariff impact of 0.9% of revenue, and non-GAAP operating expense growth of 11% to 13%. (Intuitive Q3 2026 earnings release, Oct 20, 2026)

Intuitive says the margin range assumes the tariffs in effect at the time of the release stay in place through the end of the year, and that additional tariffs could have a material impact on its 2026 results. (Intuitive Q3 2026 earnings release, Oct 20, 2026)

A consensus figure is the average of the models published by the analysts who cover Intuitive, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Intuitive's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning ISRG is on is ISRG a buy or a sell?, what analysts expect next is on the ISRG forecast, and what the company does is on the Intuitive Surgical (ISRG) stock page.

Every number on this page can be traced to a document Intuitive published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.