Intuitive Surgical’s second-quarter revenue rose 18.5% to $2.9bn ($2.8bn expected), with system sales and recurring revenue streams growing at similarly strong rates.
Underlying operating profit was up 28.7% to $1.2bn ($1.1bn expected), driven by revenue growth, gross margin improvement and continued cost discipline.
Cash on hand rose by $0.7bn quarter-on-quarter, supported by strong cash generation from the business. Intuitive also spent $0.4bn on share buybacks.
Management kept full-year procedure growth guidance at 13.5-15.5% but expects the outcome to be closer to the 14.5% midpoint, against a backdrop of slower US growth. Underlying gross margin guidance improved slightly, helped by a better mix and lower tariff costs.
The shares fell 10.8% in after-hours trading.
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Intuitive Surgical key facts
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