INTUITIVE SURGICAL INC is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: Intuitive Surgical delivered a strong Q1 FY2026 with revenue of $2.77B (+23.0% YoY), operating income surging 48.0% to $855.3M, and operating cash flow jumping 56.8% to $911.9M, reflecting robust procedure volume growth and expanding margins.
Drawn from management commentary in the Q1 2026 10-Q:
Revenue grew 23.0% YoY to $2.77B in Q1 FY2026, up from $2.25B in Q1 FY2025, reflecting continued adoption of the da Vinci surgical system and strong procedure volume growth across key surgical specialties globally.
Operating income surged 48.0% YoY to $855.3M, with operating margin expanding approximately 520 basis points to 30.9% from 25.7%, demonstrating meaningful operating leverage as revenue growth outpaced SG&A growth of only 8.9% and R&D growth of 14.5%.
Gross margin improved to 66.1% from 64.7% in the prior year period, a gain of approximately 140 basis points YoY, suggesting favorable product mix, improved manufacturing efficiencies, or pricing power in the installed base.
Revenue
$2.77B
++22.96% YoY
EPS (Basic)
$2.31
++18.46% YoY
Gross Margin
66.1%
++1.38% YoY
Operating Income
$855.3M
++47.95% YoY
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