After U.S. market hours on July 16, Intuitive Surgical released its Q2 earnings report:
Q2 revenue was $2.89 billion, an increase of 19% year-over-year; the growth in second-quarter revenue was primarily driven by higher procedure volumes, increased leasing revenue from da Vinci systems, and greater installed bases of both da Vinci and Ion systems.
Adjusted earnings per share were $2.80, compared to $2.19 in the same period last year.
Business Highlights:
Global procedures (combined da Vinci and Ion, compared to Q2 2025) grew by approximately 16%. Da Vinci procedures increased by about 15%, while Ion procedures rose by approximately 36%.
The company installed a total of 468 da Vinci surgical systems, compared to 395 in Q2 2025. Of the da Vinci systems installed in Q2 2026, 246 were da Vinci 5 systems, up from 180 in Q2 2025. The company also installed 55 Ion Endoluminal Systems, compared to 54 in Q2 2025.
As of June 30, 2026, the company’s installed base of da Vinci surgical systems had grown to 11,710 units, representing a 12% increase compared to 10,488 units as of June 30, 2025. As of June 30, 2026, the installed base of Ion Endoluminal Systems reached 1,096 units, up 21% from 905 units as of June 30, 2025.
“We are pleased with the company’s performance this quarter, which reflects the strength of our portfolio—from the da Vinci and Ion systems to our expanding digital solutions,” said Dave Rosa, Chief Executive Officer of Intuitive. “Our commitment to our global customers—our guiding light—remains steadfast: to help them achieve better patient outcomes, improved experiences for patients and care teams, lower costs, and broader access to minimally invasive care.”
Financial Outlook for 2026
The company provided the following outlook for full-year 2026:
The company expects global da Vinci procedure volume to grow by approximately 13.5% to 15.5% in 2026, with actual growth expected to be closer to the midpoint of that range.
In 2026, non-GAAP gross margin is expected to be in the range of 68.0% to 69.0% of revenue. This range includes an estimated 1.0% impact from tariffs on revenue.
Non-GAAP* operating expenses are projected to increase by 11% to 13% in 2026.