Intuitive Surgical, Inc. reported higher third-quarter 2026 revenue but lower profit, as a charge for a proposed antitrust settlement offset growth in robotic surgery procedures and system placements.
Revenue rose 22% to $3.05 billion from $2.51 billion a year earlier, the company said Oct. 20. Net income attributable to Intuitive fell to $523 million, or $1.49 per diluted share, from $704 million, or $1.95 per diluted share. The settlement charge reduced earnings by $347 million after tax.
The results follow Intuitive's scheduled Oct. 20 earnings report. The company makes the da Vinci surgical robot and the Ion system. Worldwide procedures using those systems increased about 15% from a year earlier.
Intuitive placed 546 da Vinci systems during the quarter, compared with 427 a year earlier. Instruments and accessories generated $1.80 billion in revenue, up from $1.52 billion. The company said procedure volume, operating lease revenue and its installed base helped drive the overall revenue increase.
In October, Intuitive agreed to pay $450 million and accept injunctive terms to resolve a previously disclosed antitrust class action involving da Vinci. It admitted no liability or wrongdoing. The proposed settlement remains subject to court approval.
Excluding items under its non-GAAP measure, Intuitive reported net income of $1.05 billion, compared with $867 million a year earlier. That measure presents a different view of earnings from the reported net income, which reflects the after-tax settlement charge.
For 2026, Intuitive expects da Vinci procedure growth of about 14% to 15% and a non-GAAP gross margin of 68.7% to 69.3%. Its margin outlook includes an estimated tariff impact equal to 0.9% of revenue, excluding recognized tariff refunds. The settlement still needs preliminary and final court approval.
