Intuitive Surgical (ISRG) Q3 2026 Earnings Call: Guidance and Outlook
Management updated formal financial guidance for the full year 2026, narrowing procedure growth expectations and updating gross profit margin and operating expense outlooks.
About Intuitive Surgical. Intuitive Surgical, Inc. is a leading medical technology firm dedicated to advancing patient care by developing, producing, and commercializing sophisticated tools. These innovations empower medical professionals to deliver superior, accessible, and less-invasive treatment options to patients both within the United States and across international markets.
No specific quarterly guidance figures were given for Q4 beyond annual outlook updates and tax rate estimates.
Annual guidance
Da Vinci procedure growth
Narrowed to a range of 14% to 15%, with an expectation to be closer to the midpoint.
Non-GAAP gross profit margin
Estimated to be within a range of 68.7% and 69.3% of revenue, including an estimated 90 basis points impact from tariffs and refunds.
Non-GAAP operating expense growth
Expected to be 11% to 13%.
Outlook
U.S. procedure environment
Management continues to monitor impacts from lower ACA enrollment, changes to Medicaid eligibility, and potential changes to 340(b).
International expansion
Intuitive is increasing investments in OUS markets, planning a new manufacturing facility in Penang, Malaysia, to begin operations in 2028, and expanding into new countries.
Pricing and extended use
Pricing actions and extended use programs will roll out starting in the first half of 2027, reducing da Vinci I&A revenue per procedure by approximately 3% to 5% on a mixed constant basis.
Dombey's summary of the Intuitive Surgical Q3 2026 earnings call held Oct 20, 2026, written from the call itself. Every figure on this page was checked against what was said on the call, and quoted lines are management's own words; we do not add estimates or prices. The tone score is our read of management's wording, guidance and answers. Check figures against the company's SEC filings before acting. This is research, not investment advice.
