Filing Flows › Intuitive Surgical (ISRG) › Q3 2026 › vs Q2 2026
Intuitive Surgical (ISRG) Q3 2026 vs Q2 2026 (quarter over quarter)
Intuitive Surgical's revenue rose $156M (+5%) from $2.9B in Q2 2026 to $3.0B in Q3 2026. The biggest changes: Product +$147M (+6%); Service +$9.8M (+2%). Gross margin 68.4% against 67.8% (+0.6 pts).
Intuitive Surgical, Q3 2026: revenue $3.0B (+22% year over year), operating margin 19.4%, net earnings $523M, operating cash flow $1.2B. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 68.4% | 67.8% | +0.6 pts |
| Operating margin | 19.4% | 33.6% | -14.2 pts |
| Net margin | 17.1% | 28.3% | -11.1 pts |
| Free cash flow margin | 36.4% | 32.8% | +3.7 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Instruments and accessories | $1.8B | $1.7B | $62.5M | +4% |
| Systems | $769M | $685M | $84.1M | +12% |
| Product | $2.6B | $2.4B | $147M | +6% |
| Service | $482M | $472M | $9.8M | +2% |
| Revenue | $3.0B | $2.9B | $156M | +5% |
| Gross profit | $2.1B | $2.0B | $124M | +6% |
| Cost of revenue | $964M | $932M | $32.5M | +3% |
| Other income, net | $75.8M | $82.7M | −$6.9M | -8% |
| Operating profit | $593M | $972M | −$379M | -39% |
| Operating expenses | $1.5B | $988M | $503M | +51% |
| Pre-tax earnings | $668M | $1.1B | −$386M | -37% |
| Research & development | $408M | $371M | $37.7M | +10% |
| SG&A | $633M | $618M | $15.5M | +3% |
| Net earnings | $523M | $818M | −$295M | -36% |
| Minority interests | $1.6M | $5.1M | −$3.5M | -69% |
| Income tax | $144M | $231M | −$87.4M | -38% |
| Share-based compensation | $213M | $210M | $2.7M | +1% |
| Working capital & other | $489M | $33.0M | $456M | 15× |
| Operating cash flow | $1.2B | $1.1B | $163M | +15% |
| Free cash flow (OCF − capex) | $1.1B | $948M | $163M | +17% |
| Capital expenditures | $113M | $113M | $500K | +0.4% |
Questions
How much did Intuitive Surgical's revenue grow quarter over quarter in Q3 2026?
Intuitive Surgical's revenue rose $156M (+5%) from $2.9B in Q2 2026 to $3.0B in Q3 2026.
What drove Intuitive Surgical's revenue change in Q3 2026?
Product +$147M (+6%); Service +$9.8M (+2%).