Intuitive reported second-quarter 2026 results with revenue of $2.89 billion and GAAP net income attributable to the company of $818.1 million, or $2.29 per diluted share. On a non-GAAP basis, adjusted net income was $1.00 billion, or $2.80 per diluted share, and non-GAAP gross margin was 70.0%. The company ended the quarter with $8.63 billion in cash, cash equivalents, and investments.

Financial Highlights

  • Revenue: $2.89 billion for Q2 2026, up 19% year-over-year (Q2 2025: $2.44 billion).
  • Gross profit: GAAP gross profit $1,960.4 million with GAAP gross margin 67.8%; non-GAAP gross profit $2,023.9 million with non-GAAP gross margin 70.0%.
  • Operating income: GAAP income from operations $971.9 million; non-GAAP income from operations $1,218.0 million.
  • Net income: GAAP net income attributable to Intuitive $818.1 million (diluted EPS $2.29); non-GAAP net income $1,002.1 million (non-GAAP diluted EPS $2.80).
  • Balance sheet: Cash, cash equivalents and investments of $8,625.5 million as of June 30, 2026; repurchased $0.38 billion of common stock in Q2 2026.

Business Highlights

  • Worldwide procedures (da Vinci and Ion combined) grew approximately 16% in Q2 2026 versus Q2 2025; da Vinci procedures grew ~15% and Ion procedures grew ~36%.
  • Placed 468 da Vinci surgical systems in Q2 2026 (including 246 da Vinci 5 systems) and 55 Ion endoluminal systems; installed base grew to 11,710 da Vinci systems and 1,096 Ion systems as of June 30, 2026.
  • Increased instruments and accessories revenue by 18% to $1,734.9 million, driven by procedure volume growth across da Vinci and Ion platforms.
  • Higher systems revenue of $685.0 million reflected increased placements, higher lease installed base, and higher da Vinci system average selling prices.
  • Company noted tariff-related impacts and recognized a $28 million net-of-tax benefit in Q2 related to refunds for tariffs paid in prior periods under IEEPA; 2026 outlook assumes current tariffs remain in place and estimates a 1.0% revenue impact to non-GAAP gross margin.

Original SEC Filing:

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