Intuitive Surgical Q1 EPS $2.50, Revenue $2.8B, Raises Procedure Growth Outlook
Intuitive Surgical posted Q1 adjusted EPS of $2.50 on $2.8 billion revenue, beating forecasts by $150 million as instruments and accessories sales rose to $1.7 billion and systems revenue reached $650.7 million. It raised its full-year global procedure growth outlook to 13.5%-15.5% and elevated adjusted gross margin guidance to 67.5%-68.5%.
1. Q1 Performance
Intuitive Surgical delivered adjusted EPS of $2.50 and revenue of $2.8 billion in Q1, beating consensus by $0.39 per share and approximately $150 million in sales. Non-GAAP net income rose 36% to $901 million, and non-GAAP gross margin improved to 68% from 66% a year earlier.
2. Raised Full-Year Outlook
The company increased its full-year global procedure growth forecast to 13.5%-15.5%, up from 13%-15%, reflecting accelerating da Vinci procedure adoption. It also lifted its adjusted gross margin guidance to a range of 67.5%-68.5% for fiscal 2026.
3. Procedure and Margin Drivers
Instruments and accessories revenue climbed to $1.7 billion while systems revenue totaled $650.7 million, supported by strong demand and leasing activity. Global procedure volumes increased 17%, with rapid uptake of the Ion endoluminal system and healthy utilization across installed platforms.