Intuitive Surgical, Inc. (ISRG) Earnings Call Transcripts

Intuitive Surgical, Inc.'s Latest Earnings Call - September 9, 2026

In the Q3 2026 earnings call, Intuitive Surgical, Inc. (ISRG) reported a revenue of $1.2 billion, reflecting a 21% year-over-year growth, which aligns with management's long-term average of 14-15%. Earnings per share (EPS) came in at $1.25, exceeding expectations by $0.15. Management maintained their global procedure growth guidance of 13.5% to 15.5% for the second half of the year, despite concerns over U.S. procedure deceleration, particularly due to the expiration of ACA subsidies. The company highlighted significant opportunities in benign general surgery and the introduction of new procedures as potential growth drivers moving forward.

Reported metrics

Guidance from management

Management maintained their global procedure growth guidance of 13.5% to 15.5% for the second half of 2026, despite the anticipated impact of ACA subsidy expirations on U.S. growth.

What management said

Just real quick comments. Today's session may contain forward-looking statements. Actual results may differ materially from those expressed or implied as a result of certain risks and uncertainties. These risks and uncertainties are described in our Securities and Exchange Commission filings, including our most recent Forms 10-K and 10-Q which you can find through our website at intuitive.com or at the SEC's website....

Yes. I think broadly, just thinking about 2026, expected growth drivers to be consistent year-over-year. So like Jamie mentioned, general surgery, and specifically, continued growth an after-hours procedure, so chole, hernia repair. And then in addition to that, obviously, we have some procedures at earlier stage opportunities like Jamie mentioned, cardiac and nipple sparing mastectomy as well as significant operatio...

What analysts pressed on

Analysts expressed concerns about the deceleration of U.S. procedure growth and the potential impacts of ACA subsidy expirations. There were also questions regarding the competitive landscape and the effectiveness of new product launches in stimulating growth.

Main topics on the call

• U.S. Procedure Growth Concerns — Management acknowledged a slowdown in U.S. procedure growth, stating, "the total U.S. procedure growth then is a summation of each of those procedures and where they are." They expect growth to remain below 10% in the se...
• Global Procedure Growth Opportunities — Management emphasized their focus on global procedure growth, stating, "we think we have a significant opportunity in the U.S., particularly benign general surgery." They highlighted potential growth from new procedures ...
• Capital Equipment Environment — The capital equipment environment remains stable in the U.S., with system placements up 24% year-over-year. Management noted, "U.S. capital has been stable and relatively strong," indicating resilience despite broader ma...
• Extended Use Program — Management indicated that the upcoming extended use program is designed to stimulate procedure growth, with Jamie Samath stating, "this could be a tailwind" for U.S. procedure growth, particularly in cost-sensitive marke...

Read the full Intuitive Surgical, Inc. transcript (September 9, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 52 Intuitive Surgical, Inc. earnings call transcripts on record, spanning January 14, 2020 to September 9, 2026. Based on this history, Intuitive Surgical, Inc. reports quarterly. The most recent call on file is dated September 9, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

ISRG

Exchange

NasdaqGS

Country

US

Sector

Health Care

Industry

Health Care Equipment and Supplies

Calls on record

52

First call

January 14, 2020

Most recent

September 9, 2026

Reporting cadence

quarterly