Intuitive Surgical reported Q3 revenue of $2.89 billion and non-GAAP EPS of $2.80, beating estimates by nearly 10 percent, yet shares fell over 12 percent on concerns about US growth durability. US da Vinci procedures rose just 12 percent amid ACA subsidy changes and patient cost pressures, while OUS procedures grew 20 percent and total procedures advanced 16 percent, with ION up 36 percent; recurring revenue held at 85 percent and non-GAAP margins reached 42 percent, aided by a one-time tariff refund. Management views the US moderation as temporary and plans a 2027 Extended Use Program to broaden adoption, though analysts are trimming 2026 forecasts amid China competition and GLP-1 headwinds on bariatrics.

Company: Intuitive Surgical, Inc. (ISRG) — Q2 FY2026

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