Filing Flows › Intuitive Surgical (ISRG) › Q2 2026
Intuitive Surgical (ISRG) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 21, 2026
Intuitive Surgical (ISRG) reported revenue of $2.9B for the second quarter 2026 (Q2 2026), +19% from a year earlier and +4% from the quarter before. Operating margin was 33.6%, net earnings $818M (28.3% of revenue).
Intuitive Surgical, Q2 2026: revenue $2.9B (+18% year over year), operating margin 33.6%, net earnings $818M, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.9B | +4% | +19% |
| Gross profit | $2.0B | +7% | +21% |
| Operating profit | $972M | +14% | +31% |
| Net earnings | $818M | -0.4% | +24% |
| Operating cash flow | $1.1B | +16% | +48% |
| Free cash flow | $948M | +17% | +69% |
What changed
Revenue was $2.9B in Q2 2026, up 19% year over year and up 4% from the previous quarter. Instruments and accessories was the largest line at 60% of revenue. Instruments and accessories added $0.26B year over year (up 18%), 58% of the total change.
Gross margin was 67.8%, up 1.5 points from Q2 2025. Operating profit was $1.0B, a 33.6% margin (up 3.1 points year over year). Of the extra revenue versus Q2 2025, 51% reached operating profit, above the 30% margin then. Operating expenses grew 13% against revenue growth of 19%. The fastest-growing cost line was Research & development (+18%). Net earnings were $0.82B, up 24% year over year. The effective tax rate was 21.9%.
Operating cash flow was $1.1B (up 48% year over year), 129% of net earnings. Non-cash charges added back $0.21B of share-based compensation. Capital expenditures of $0.11B left free cash flow of $0.95B.
Questions
What was Intuitive Surgical's revenue in the second quarter 2026?
Intuitive Surgical (ISRG) reported revenue of $2.9B for the second quarter 2026 (Q2 2026), +19% from a year earlier and +4% from the quarter before.
Was Intuitive Surgical profitable in the second quarter 2026?
Operating profit was $972M (33.6% of revenue) and net earnings $818M.
Source: Intuitive Surgical 10-Q on SEC EDGAR.