Intuitive Surgical (ISRG) Q2: Strong Growth, but Can It Sustain the Pace?

Procedure growth is slowing from recent levels, and management maintained rather than raised its full-year procedure outlook.

Q2 2026 by the Numbers

Metric	Q2 2026	YoY
Revenue	$2.89B	+19%
GAAP Net Income	$818M	+24%
GAAP Diluted EPS	$2.29	+27%
Non-GAAP Net Income	$1.00B	+26%
Non-GAAP Diluted EPS	$2.80	+28%
da Vinci Procedures	—	~+15%
Ion Procedures	—	~+36%
da Vinci Systems Placed	468	+18%
da Vinci 5 Systems Placed	246	+37%
da Vinci Installed Base	11,710	+12%
Ion Installed Base	1,096	+21%

Q2 instruments and accessories revenue increased 18% to $1.73 billion, making it roughly 60% of total quarterly revenue.

15% da Vinci procedure growth and 36% Ion procedure growth.

Intuitive placed 468 da Vinci systems during Q2, including 246 da Vinci 5 systems. A year earlier, it placed 395 systems, including 180 da Vinci 5 systems. The worldwide da Vinci installed base has now reached approximately 11,710 systems.

Worldwide da Vinci procedure growth was approximately 15%, compared with roughly 17% in Q2 2025 and 16% in Q1 2026.

Management maintained its full-year 2026 da Vinci procedure-growth outlook at 13.5%–15.5% and expects results around the midpoint. Management did improve its 2026 non-GAAP gross-margin outlook to 68%–69% from its previous expectation of 67.5%–68.5%.

• $2.89B revenue, +19%

• $1.73B instruments & accessories revenue, +18%

• 468 da Vinci systems placed

• 246 da Vinci 5 placements

• ~15% da Vinci procedure growth

• ~36% Ion procedure growth

How long it can sustain mid-teens procedure growth as the business becomes increasingly large?