ISRG Intuitive Surgical (ISRG) Q2 FY26 earnings call
Intuitive Surgical delivered a strong financial quarter with robust revenue and EPS growth, driven by significant global adoption of its da Vinci and Ion platforms. While U.S. procedure growth saw some moderation due to patient deferrals and GLP-1 impact on bariatric cases, the company continues to expand its installed base and innovate across its product portfolio, including new da Vinci 5 features and an extended use program for instruments. International markets showed strong procedure growth, though China remains a challenging environment.
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ISRG operating KPIs by quarter
| KPI | Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | This call Jun 2026 Q2 FY26 | Sep 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|---|
| Installed base da Vinci | — | — | <10.8KFor our da Vinci business, procedures grew 19%, the installed base of da Vinci systems increased by 13% to almost 10,800 systems and average system utilization increased by 4%.Source: earnings call transcript | 11.1K+For our da Vinci business, procedures grew 17%, the installed base of da Vinci systems increased by 12% to just over 11,100 systems and average system utilization increased by 4%.Source: earnings call transcript | — | — | — | — |
| Installed base da Vinci 5 | — | 689Following our progression into US broad launch of da Vinci 5 during Q2, we placed 180 da Vinci 5 systems, bringing the installed base to 689 systems.Source: earnings call transcript | 929The installed base of da Vinci 5 is now 929 systems.Source: earnings call transcript | — | <1,500The installed base of da Vinci 5 is now almost 1,500 systems used by almost 13,000 surgeons since launch.Source: earnings call transcript | 1,700+The installed base of da Vinci 5 is just over 1,700 systems used by over 15,000 surgeons since launch.Source: earnings call transcript | 2,000+We exited the quarter with more than 2,000 da Vinci 5 systems installed worldwide, used by over 18,000 surgeons since launch.Source: earnings call transcript | — |
| Installed base Ion | — | 9057 of these systems were placed in markets outside the US The installed base of Ion systems expanded to 905 systems and average system utilization increased 8% from the year ago period.Source: earnings call transcript | ~950We continue to see robust growth for our Ion platform with procedures increasing 52%, the installed base up by 30% to approximately 950 systems and average system utilization increasing by 14%.Source: earnings call transcript | <1,000For our Ion platform, we continue to see robust clinical growth with procedures increasing 44%, the installed base up by 24% to just under 1,000 systems and average system utilization increasing by 11%.Source: earnings call transcript | — | — | — | — |
| Procedures Ion | ~31KProcedures grew 58% to approximately 31,000 in the quarter.Source: earnings call transcript | ~35KWe performed approximately 35,000 Ion procedures in Q2, a 52% increase over the prior year.Source: earnings call transcript | — | — | 43KIn Q1, da Vinci procedures grew 16% to 847,000, and Ion procedures increased 39% to 43,000.Source: earnings call transcript | 48KIon procedures increased 36% to 48,000 and now exceed 400,000 cumulatively.Source: earnings call transcript | — | +11.6% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.