Intuitive Surgical Stock Dips on Q4 Preliminary Revenue Results

Intuitive Surgical ISRG recently announced preliminary revenues for the fourth quarter and full-year 2025. Since the announcement on Wednesday, the company's shares lost 0.9% despite strong preliminary results.

ISRG is scheduled to release fourth-quarter 2025 results on Jan. 22, 2026.

Per the preliminary report, fourth-quarter 2025 worldwide revenues totaled $2.87 billion, up 19% year over year on a reported basis. The preliminary revenues beat the Zacks Consensus Estimate of $2.72 billion.

The company’s instruments and accessories revenues are likely to be approximately $1.66 billion in the fourth quarter, up 17% from the prior-year period’s level. The preliminary da Vinci procedures increased 17% year over year. Procedure volume was driven by growth in U.S. general surgery and da Vinci procedures performed across a broad set of procedure specialties in international markets.

Preliminary systems revenues for the fourth quarter of 2025 are approximately $786 million. The strong growth was driven by an increase in da Vinci system placements, growth in the leased installed base and higher average selling prices for da Vinci systems compared to previous periods.

Intuitive Surgical, Inc. Price

Intuitive Surgical, Inc. price | Intuitive Surgical, Inc. Quote

ISRG placed 532 da Vinci Surgical systems in the fourth quarter of 2025, up from 493 systems in the year-ago period. Among the system placements during the fourth quarter, 250 were placed under operating leases and usage-based arrangements. These systems included 303 of ISRG’s da Vinci 5 systems.

Intuitive Surgical’s Full-Year Preliminary Results

Per the preliminary report, its full-year worldwide revenues are likely to be $10.06 billion, up 21%year over year on a reported basis. The Zacks Consensus Estimate of $9.92 billion lies below the preliminary figure.

Instruments and accessories revenues for the full year are approximately $6.02 billion, suggesting growth of 19% year over year. Systems revenues improved to $2.47 billion compared to 2024.

Management highlighted that thedelivery of strong performance throughout 2025 is driven by higher adoption and utilization of its surgical platforms, broader product clearances and expanded indications across regions and more than 3.1 million da Vinci procedures completed during the year. The company remains committed to its shared objectives with customers, with a continued focus on enhancing patient care and clinical outcomes.

A Brief Q4 Analysis

Intuitive Surgical’s procedure volumes have increased in the past few quarters and the trend has continued into the fourth quarter. The company’s procedure volumes were primarily driven by general surgery and da Vinci procedures performed across a broad set of procedure specialties. ISRG expects worldwide da Vinci procedures to grow approximately 13-15% in 2026, signaling continued confidence in the adoption of robotic-assisted surgical solutions.

The third-quarter 2025 earnings call highlighted several benefits supporting Intuitive Surgical’s growth and competitive positioning. The company continues to benefit from global procedure growth driven by broad adoption across da Vinci, Ion and SP platforms.

The full launch of da Vinci 5 is improving system utilization, efficiency and upgrade demand, helping customers expand capacity and reinforcing ISRG’s leadership in robotic-assisted surgery. The growing installed base supports a recurring revenue model, with the majority of total revenues coming from recurring sources. Strong adoption of Ion and SP platforms, particularly in lung diagnostics and single-port surgery, expands its addressable market and long-term growth runway.

Intuitive Surgical is facing several challenges despite strong overall performance. Gross margins are likely to have remained under pressure due to tariffs, higher facility and service costs and an increasing mix of lower-margin da Vinci 5 and Ion systems, creating uncertainty around margin growth into 2026.

International markets present ongoing headwinds, particularly in China, where competition, pricing pressure and slow tender activity persist, as well as in Japan and the U.K., where government budget constraints are limiting capital placements and procedure growth.

In the United States, bariatric procedure volumes continue to decline due to the impact of GLP-1 drugs, with limited visibility on when this trend may stabilize. Finally, newer technologies require further clinical evidence and careful execution to drive broader adoption.

Intuitive Surgical’s Price Performance

Shares of the company have climbed 21.4% in the past three months compared with the industry’s 6.4% rise and the S&P 500’s 5.3% gain.

ISRG’s Zacks Rank & Other Stocks to Consider

Currently, Intuitive Surgical carries a Zacks Rank #2 (Buy).

Some other top-ranked stocks in the broader medical space are AtriCure ATRC, Boston Scientific Corporation BSX and Cardinal Health, Inc. CAH.

AtriCure, currently flaunting a Zacks Rank #1 (Strong Buy), has an estimated earnings growth rate of 64.2%. The company beat earnings estimates in the trailing four quarters, the average surprise being 67.1%. You can see the complete list of today’s Zacks #1 Rank stocks here.

AtriCure’s shares have gained 11.6% against the industry’s 7.6% decline in the past three months.

Boston Scientific, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 16.4%. BSX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 7.4%.

Boston Scientific’s shares have lost 9.3% compared with the industry’s 7.6% decline in the past three months.

Cardinal Health, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 13.9%. CAH’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 9.4%.

Cardinal Health has gained 36.5% compared with the industry’s 13.1% rise in the past three months.

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This article originally published on Zacks Investment Research (zacks.com).

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