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How Intuitive Surgical (ISRG) makes money
Intuitive Surgical (ISRG) made $3.0B of revenue in the third quarter 2026 (Q3 2026), +22% from a year earlier. Product brought in $2.6B (84%); Service brought in $482M (16%). Of every dollar of revenue, 68¢ was left as gross profit, 19¢ was left as operating profit, 17¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Product | $2.6B | 84.2% | +6% | +22% |
| ↳ Instruments and accessories | $1.8B | 59.0% | +4% | +18% |
| ↳ Systems | $769M | 25.2% | +12% | +30% |
| Service | $482M | 15.8% | +2% | +22% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $3.0B | 100.0% |
| Cost of revenue | $964M | 31.6% |
| Gross profit | $2.1B | 68.4% |
| Operating expenses | $1.5B | 48.9% |
| Operating profit | $593M | 19.4% |
| Income tax | $144M | 4.7% |
| Net earnings | $523M | 17.1% |
| Operating cash flow | $1.2B | 40.2% |
| Free cash flow | $1.1B | 36.4% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $3.0B | +22% |
| Q2 2026 | $2.9B | +18% |
| Q1 2026 | $2.8B | +23% |
| Q4 2025 | $2.9B | +19% |
| Q3 2025 | $2.5B | +23% |
| Q2 2025 | $2.4B | +21% |
| Q1 2025 | $2.3B | +19% |
From Intuitive Surgical's 10-Q filed Oct 21, 2026 (on EDGAR).
Questions
How does Intuitive Surgical make money?
Intuitive Surgical (ISRG) made $3.0B of revenue in the third quarter 2026 (Q3 2026), +22% from a year earlier. Product brought in $2.6B (84%); Service brought in $482M (16%). Of every dollar of revenue, 68¢ was left as gross profit, 19¢ was left as operating profit, 17¢ was left as net earnings.
What is Intuitive Surgical's biggest business?
Product: $2.6B in the third quarter 2026, 84% of revenue, +22% from a year earlier.
What is Intuitive Surgical's profit margin?
Net earnings were $523M, 17.1% of revenue, in the third quarter 2026; the operating margin was 19.4%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.