Filing Flows › Intuitive Surgical (ISRG) › Q3 2026 › vs Q3 2025
Intuitive Surgical (ISRG) Q3 2026 vs Q3 2025 (year over year)
Intuitive Surgical's revenue rose $544M (+22%) from $2.5B in Q3 2025 to $3.0B in Q3 2026. The biggest changes: Product +$457M (+22%); Service +$86.3M (+22%). Gross margin 68.4% against 66.4% (+2.0 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 Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 68.4% | 66.4% | +2.0 pts |
| Operating margin | 19.4% | 30.3% | -10.9 pts |
| Net margin | 17.1% | 28.1% | -11.0 pts |
| Free cash flow margin | 36.4% | 29.4% | +7.1 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Instruments and accessories | $1.8B | $1.5B | $279M | +18% |
| Systems | $769M | $590M | $179M | +30% |
| Product | $2.6B | $2.1B | $457M | +22% |
| Service | $482M | $396M | $86.3M | +22% |
| Revenue | $3.0B | $2.5B | $544M | +22% |
| Gross profit | $2.1B | $1.7B | $422M | +25% |
| Cost of revenue | $964M | $843M | $122M | +14% |
| Other income, net | $75.8M | $95.5M | −$19.7M | -21% |
| Operating profit | $593M | $760M | −$167M | -22% |
| Operating expenses | $1.5B | $903M | $589M | +65% |
| Pre-tax earnings | $668M | $855M | −$187M | -22% |
| Research & development | $408M | $329M | $78.9M | +24% |
| SG&A | $633M | $573M | $60.1M | +10% |
| Net earnings | $523M | $704M | −$182M | -26% |
| Minority interests | $1.6M | $4.8M | −$3.2M | -67% |
| Income tax | $144M | $146M | −$2.0M | -1% |
| Share-based compensation | $213M | $204M | $9.1M | +4% |
| Working capital & other | $489M | −$66.9M | $556M | — |
| Operating cash flow | $1.2B | $841M | $383M | +46% |
| Free cash flow (OCF − capex) | $1.1B | $736M | $375M | +51% |
| Capital expenditures | $113M | $105M | $7.7M | +7% |
Questions
How much did Intuitive Surgical's revenue grow year over year in Q3 2026?
Intuitive Surgical's revenue rose $544M (+22%) from $2.5B in Q3 2025 to $3.0B in Q3 2026.
What drove Intuitive Surgical's revenue change in Q3 2026?
Product +$457M (+22%); Service +$86.3M (+22%).