Filing Flows › Intuitive Surgical (ISRG) › Q3 2025
Intuitive Surgical (ISRG) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 22, 2025
Intuitive Surgical (ISRG) reported revenue of $2.5B for the third quarter 2025 (Q3 2025), +23% from a year earlier and +3% from the quarter before. Operating margin was 30.3%, net earnings $704M (28.1% of revenue).
Intuitive Surgical, Q3 2025: revenue $2.5B (+23% year over year), operating margin 30.3%, net earnings $704M, operating cash flow $841M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.5B | +3% | +23% |
| Gross profit | $1.7B | +3% | +21% |
| Operating profit | $760M | +2% | +32% |
| Net earnings | $704M | +7% | +25% |
| Operating cash flow | $841M | +18% | +19% |
| Free cash flow | $736M | +31% | +60% |
What changed
Revenue was $2.5B in Q3 2025, up 23% year over year and up 3% from the previous quarter. Instruments and accessories was the largest line at 61% of revenue. Instruments and accessories added $0.25B year over year (up 20%), 55% of the total change.
Gross margin was 66.4%, down 1.1 points from a year earlier. Operating profit was $0.76B, a 30.3% margin (up 2.0 points year over year). Of the extra revenue versus a year earlier, 39% reached operating profit, above the 28% margin then. Operating expenses grew 13% against revenue growth of 23%. The fastest-growing cost line was Research & development (+15%). Net earnings were $0.70B, up 25% year over year. The effective tax rate was 17.1%.
Operating cash flow was $0.84B (up 19% year over year), 119% of net earnings. Non-cash charges added back $0.20B of share-based compensation. Working capital and other items used $0.07B. Capital expenditures of $0.11B left free cash flow of $0.74B.
Questions
What was Intuitive Surgical's revenue in the third quarter 2025?
Intuitive Surgical (ISRG) reported revenue of $2.5B for the third quarter 2025 (Q3 2025), +23% from a year earlier and +3% from the quarter before.
Was Intuitive Surgical profitable in the third quarter 2025?
Operating profit was $760M (30.3% of revenue) and net earnings $704M.
Source: Intuitive Surgical 10-Q on SEC EDGAR.