Intuitive Surgical beat earnings estimates in Q4 2025, with strong revenue and procedure growth, and projected 13%–15% da Vinci procedure growth in 2026.

Intuitive Surgical reported strong Q4 2025 results, with revenue of $2.87 billion, a 19% year-over-year increase, and adjusted earnings of $2.53 per share, surpassing estimates. Full-year 2025 revenue reached $10.1 billion, up 21%, driven by a 19% rise in global procedures to 3.1 million, including 18% growth in da Vinci procedures and 51% growth in ION procedures. The company placed 1,721 da Vinci systems globally, including 870 da Vinci 5 units, and ended the year with $9.03 billion in cash. Free cash flow hit $2.5 billion, and the pro forma operating margin improved to 37%. The company expects 13% to 15% da Vinci procedure growth in 2026.