Shares of Intuitive Surgical Inc (NASDAQ:ISRG) moved higher in premarket trading on Friday after the company reported fourth-quarter results that topped market expectations. The stock gained roughly 3% following the release.
The surgical robotics group delivered adjusted earnings per share of $2.53, well ahead of the $2.26 analysts had anticipated. Quarterly revenue reached $2.87 billion, surpassing the consensus estimate of $2.75 billion and representing a 19% increase from $2.41 billion in the same period last year.
Operating momentum was underpinned by continued procedure growth, with da Vinci procedures rising 17% year over year and Ion procedures surging 44%.
“Our fourth quarter results reflect continued global adoption of our minimally invasive robotic platforms,” said Gary Guthart, CEO of Intuitive Surgical. “The placement of 303 da Vinci 5 systems this quarter demonstrates strong customer reception to our newest surgical system.”
During the quarter, the company installed a total of 532 da Vinci surgical systems, compared with 493 a year earlier, expanding its installed base to 11,106 units—up 12% year on year. Revenue from instruments and accessories increased 17% to $1.66 billion, while systems revenue climbed to $786 million from $655 million in the prior-year quarter.
Looking ahead, Intuitive Surgical issued its 2026 outlook, forecasting global da Vinci procedure growth of approximately 13% to 15%, down from 18% growth recorded in 2025. The company also guided for a non-GAAP gross profit margin of 67% to 68% of revenue, which incorporates an estimated 1.2% headwind from tariffs.
Analysts responded positively to the update. Stifel’s Rick Wise said the release “checked all the key boxes,” pointing to “excellent” fourth-quarter performance and early 2026 guidance that “appears to be a reasonable starting point.”
Truist Securities analyst Richard Newitter separately highlighted Intuitive Surgical’s “big 4Q EPS upside on a revenue beat,” adding that he “continues to see ISRG well-positioned to sustain an elite and above-average. mid-to-high-teens rev/profit CAGR.”
Intuitive Surgical closed the quarter with a robust balance sheet, reporting $9.03 billion in cash, cash equivalents and investments, reflecting a $600 million increase over the course of the quarter.