Intuitive Surgical delivered adjusted earnings per share of 2.53 for the quarter ended December 31, 2025, surpassing the consensus estimate of 2.26. Quarterly revenue rose 19% year-over-year to 2.87 billion, exceeding the analyst projection of 2.75 billion. GAAP net income attributable to the company was 795 million, or 2.21 per diluted share, up from 686 million, or 1.88 per share, in the fourth quarter of 2024.

The company reported a 17% increase in da Vinci procedures and a 44% jump in Ion procedures for the quarter. It placed 532 da Vinci surgical systems, including 303 of its latest da Vinci 5 models, compared with 493 placements a year earlier. The da Vinci installed base reached 11,106 systems, a 12% increase from 9,902 at the end of 2024, while the Ion installed base grew 24% to 995 systems.

Recurring revenue remained a strong contributor, with instruments and accessories sales increasing 17% to 1.66 billion and service revenue rising 19% to 422 million. Systems revenue climbed to 786 million from 655 million a year ago, driven by higher placements, increased lease arrangements and elevated average selling prices for da Vinci systems.

For full-year 2026, management expects worldwide da Vinci procedure growth of approximately 13% to 15%, down from 18% in 2025. The company forecasts a non-GAAP gross profit margin of 67% to 68% of revenue, reflecting an estimated 1.2 percentage point headwind from existing tariffs, and anticipates non-GAAP operating expense growth of 11% to 15%.