Filing Flows › Intuitive Surgical (ISRG) › Q2 2025
Intuitive Surgical (ISRG) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 23, 2025
Intuitive Surgical (ISRG) reported revenue of $2.4B for the second quarter 2025 (Q2 2025), +21% from a year earlier and +8% from the quarter before. Operating margin was 30.5%, net earnings $658M (27.0% of revenue).
Intuitive Surgical, Q2 2025: revenue $2.4B (+21% year over year), operating margin 30.5%, net earnings $658M, operating cash flow $715M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.4B | +8% | +21% |
| Gross profit | $1.6B | +11% | +18% |
| Operating profit | $743M | +29% | +31% |
| Net earnings | $658M | -6% | +25% |
| Operating cash flow | $715M | +23% | +15% |
| Free cash flow | $560M | +20% | +80% |
What changed
Revenue was $2.4B in Q2 2025, up 21% year over year and up 8% from the previous quarter. Instruments and accessories was the largest line at 60% of revenue. Instruments and accessories added $0.23B year over year (up 18%), 53% of the total change.
Gross margin was 66.3%, down 2.0 points from a year earlier. Operating profit was $0.74B, a 30.5% margin (up 2.2 points year over year). Of the extra revenue versus a year earlier, 41% reached operating profit, above the 28% margin then. Operating expenses grew 9% against revenue growth of 21%. The fastest-growing cost line was Research & development (+12%). Net earnings were $0.66B, up 25% year over year. The effective tax rate was 20.2%.
Operating cash flow was $0.72B (up 15% year over year), 108% of net earnings. Non-cash charges added back $0.20B of share-based compensation. Working capital and other items used $0.14B. Capital expenditures of $0.16B left free cash flow of $0.56B.
Questions
What was Intuitive Surgical's revenue in the second quarter 2025?
Intuitive Surgical (ISRG) reported revenue of $2.4B for the second quarter 2025 (Q2 2025), +21% from a year earlier and +8% from the quarter before.
Was Intuitive Surgical profitable in the second quarter 2025?
Operating profit was $743M (30.5% of revenue) and net earnings $658M.
Source: Intuitive Surgical 10-Q on SEC EDGAR.