Q3 25 EPS
$2.40
BEAT +20.65%
Est. $1.99
Q3 25 Revenue
$2.51B
BEAT +3.85%
Est. $2.41B
vs S&P Since Q3 25
-23.5%
TRAILING MARKET
ISRG -15.6% vs S&P +7.9%
Market Reaction
Did ISRG Beat Earnings? Q3 2025 Results
Intuitive Surgical delivered a blowout third quarter for 2025, with surging procedure volumes driving revenue to $2.51 billion, up 22.9% year-over-year and ahead of the $2.41 billion consensus. Non-GAAP EPS of $2.40 cleared the $1.99 analyst estimate… Read more Intuitive Surgical delivered a blowout third quarter for 2025, with surging procedure volumes driving revenue to $2.51 billion, up 22.9% year-over-year and ahead of the $2.41 billion consensus. Non-GAAP EPS of $2.40 cleared the $1.99 analyst estimate by 20.65%, powered by accelerating adoption of the da Vinci 5 platform, where placements more than doubled year-over-year to 240 units in the quarter. Worldwide da Vinci and Ion procedures grew roughly 20% combined, lifting instruments and accessories revenue, the company's largest segment, to $1.52 billion. Systems revenue climbed to $590.40 million from $445.00 million a year earlier, while GAAP operating income rose to $759.70 million versus $577.30 million. Investors have taken note of the strong global adoption story, though tariff risk remains a meaningful overhang given the company's manufacturing footprint in Mexico, Germany, and China. Management guided full-year 2025 da Vinci procedure growth of 17% to 17.5% and non-GAAP gross margin of 67% to 67.5%, absorbing an estimated 0.7% tariff drag, assuming current trade policy holds.
Key Takeaways
- • Worldwide procedures grew approximately 20% YoY (da Vinci ~19%, Ion ~52%)
- • 427 da Vinci system placements in Q3 2025, including 240 da Vinci 5 systems (vs. 110 in Q3 2024)
- • Da Vinci installed base grew 13% YoY to 10,763 systems
- • Ion installed base grew 30% YoY to 954 systems
- • Instruments and accessories revenue growth driven by procedure volume increases
ISRG YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
ISRG Revenue by Segment
With YoY comparisons, source: SEC Filings
“We're pleased with our strong results this quarter, underscored by continued growth in customer use and adoption of our Ion and da Vinci platforms, including da Vinci 5.”
— Dave Rosa, Q3 2025 Earnings Press Release
ISRG Earnings Trends
ISRG vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ISRG EPS Trend
Earnings per share: estimate vs actual
ISRG Revenue Trend
Quarterly revenue: estimate vs actual
ISRG Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $2.50 | — | $2.77B | +5.84% |
| Q4 25 BEAT FY | $2.26 | $2.53 | +11.95% | $2.87B | +4.14% |
| FY Full Year | $8.67 | $8.93 | +3.01% | $10.06B | +1.14% |
| Q3 25 BEAT | $1.99 | $2.40 | +20.65% | $2.51B | +3.85% |
| Q2 25 BEAT | $1.93 | $2.19 | +13.22% | $2.44B | +3.83% |
| Q1 25 BEAT | $1.73 | $1.81 | +4.41% | $2.25B | +3.09% |