Intuitive Surgical Inc. (NASDAQ:ISRG) shares fell sharply after the medical technology company released second-quarter results that topped Wall Street forecasts but issued a full-year procedure growth outlook that failed to meet investor expectations.
The robotic surgery specialist reported adjusted earnings of $2.80 per share for the quarter, exceeding analyst estimates of $2.51 by $0.29. Revenue increased 19% year over year to $2.89 billion from $2.44 billion in the second quarter of 2025, also ahead of the consensus forecast of $2.82 billion.
Quarterly results included an after-tax benefit of $28 million, equal to $0.08 per share, related to refunds of tariffs paid in previous periods.
Procedure growth guidance disappoints investors
Despite delivering stronger-than-expected quarterly financial results, Intuitive Surgical’s shares dropped 10.9% after management projected full-year 2026 da Vinci procedure growth of between 13.5% and 15.5%, with performance expected to land around the midpoint of 14.5%.
The company also forecast an adjusted gross profit margin of 68.0% to 69.0% of revenue, including an estimated one percentage point impact from tariffs. Adjusted operating expenses are expected to increase between 11% and 13% during the year.
Procedure volumes and system placements continue to expand
Combined worldwide procedures across the company’s da Vinci and Ion platforms increased approximately 16% during the second quarter.
Da Vinci procedures rose roughly 15%, while Ion procedures climbed approximately 36%.
The company installed 468 da Vinci surgical systems during the quarter, up from 395 in the same period last year. The total included 246 installations of the latest da Vinci 5 platform.
Revenue from instruments and accessories advanced 18% to $1.73 billion, while systems revenue increased to $685 million from $575 million in the corresponding quarter of 2025.
“We are pleased with company performance this quarter, which reflects the strength of our portfolio – from da Vinci and Ion to our growing digital solutions,” said Dave Rosa, Intuitive CEO.
Installed base reaches new high
As of June 30, 2026, Intuitive Surgical had an installed base of 11,710 da Vinci surgical systems worldwide, representing a 12% increase from 10,488 systems a year earlier.
Intuitive Surgical stock price
