Intuitive SurgicalISRGEarnings & Financial Report
Intuitive Surgical, Inc. is an American biotechnology company that develops, manufactures, and markets robotic products designed to improve clinical outcomes of patients through minimally invasive surgery, most notably with the da Vinci Surgical System. The company is part of the Nasdaq-100, S&P 100 and S&P 500. As of 31 December 2021, Intuitive Surgical had an installed base of 6,730 da Vinci Surgical Systems, including 4,139 in the U.S.
Revenue
$2.5B
Gross Profit
$1.7B
Operating Profit
$759.7M
Net Profit
$704.4M
Gross Margin
66.4%
Operating Margin
30.3%
Net Margin
28.1%
YoY Growth
22.9%
EPS
$1.95
Intuitive Surgical Q3 FY2025 Financial Summary
Intuitive Surgical reported revenue of $2.5B (up 22.9% YoY) for Q3 FY2025, with a net profit of $704.4M (up 24.7% YoY) (28.1% margin). Cost of goods sold was $842.7M, operating expenses totaled $902.7M.
Key Financial Metrics
| Total Revenue | $2.5B |
|---|---|
| Net Profit | $704.4M |
| Gross Margin | 66.4% |
| Operating Margin | 30.3% |
| Report Period | Q3 FY2025 |
Revenue Breakdown
Intuitive Surgical Q3 FY2025 revenue of $2.5B breaks down across 2 segments, led by Products at $2.1B (84.2% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Products | $2.1B | 84.2% |
| Systems | $397.5M | 15.9% |
Intuitive Surgical Revenue by Segment — Quarterly Trend
Intuitive Surgical revenue by segment across the last 4 reported quarters, showing how each business line (such as Products and Systems) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Products | — | $2.4B | $2.1B | $2.0B |
| Systems | $650.7M | — | $397.5M | — |
Intuitive Surgical Annual Revenue by Year
Intuitive Surgical annual revenue history includes year-by-year totals (for example, 2025 revenue was $10.1B).
| Year | Annual Revenue |
|---|---|
| 2025 | $10.1B |
| 2024 | $8.4B |
| 2023 | $7.1B |
| 2022 | $6.2B |
Intuitive Surgical Quarterly Revenue & Net Profit History
Intuitive Surgical results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $2.8B | +23.0% | $826.0M | 29.8% |
| Q4 FY2025 | $2.9B | +18.8% | $794.8M | 27.7% |
| Q3 FY2025 | $2.5B | +22.9% | $704.4M | 28.1% |
| Q2 FY2025 | $2.4B | +21.4% | $658.4M | 27.0% |
| Q1 FY2025 | $2.3B | +19.2% | $698.4M | 31.0% |
| Q4 FY2024 | $2.4B | +25.2% | $685.7M | 28.4% |
| Q3 FY2024 | $2.0B | +16.9% | $565.1M | 27.7% |
| Q2 FY2024 | $2.0B | +14.5% | $526.9M | 26.2% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.01B | $2.04B | $2.41B | $2.25B | $2.44B | $2.51B | $2.87B | $2.77B |
| YoY Growth | 14.5% | 16.9% | 25.2% | 19.2% | 21.4% | 22.9% | 18.8% | 23.0% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $16.65B | $17.74B | $18.74B | $19.22B | $20.16B | $19.35B | $20.46B | $20.11B |
| Liabilities | $1.85B | $2.07B | $2.21B | $2.01B | $2.21B | $2.31B | $2.52B | $2.51B |
| Equity | $14.71B | $15.58B | $16.43B | $17.11B | $17.85B | $16.93B | $17.82B | $17.60B |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|
| Operating CF | $620.5M | $706.5M | $822.6M | $581.6M | $715.4M | $841.0M | $892.5M |