INTUITIVE SURGICAL INC

ISRG 10-Q · Q1 2026

ISRG Q1 2026 request

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Income Statement

Income Statement
Metric Q1 2026 Q1 2025 YoY
Revenue 2,770.8 2,253.4 +23.0%
Show Product Lines breakouts
Instruments and accessories 1,686.4 1,367.7 +23.3%
Instruments and accessories · Geographic Distribution Domestic 1,121.8 963.8 +16.4%
Instruments and accessories · Geographic Distribution Foreign 564.6 403.9 +39.8%
Product 2,337.1 1,890.4 +23.6%
Service 433.7 363 +19.5%
Service 433.7 363 +19.5%
Service · Geographic Distribution Domestic 281.7 238.5 +18.1%
Service · Geographic Distribution Foreign 152 124.5 +22.1%
Systems 650.7 522.7 +24.5%
Systems · Geographic Distribution Domestic 379.8 335.9 +13.1%
Systems · Geographic Distribution Foreign 270.9 186.8 +45.0%
Show Geographic Distribution breakouts
Geographic Distribution Domestic 1,783.3 1,538.2 +15.9%
Geographic Distribution Foreign 987.5 715.2 +38.1%
Cost of Revenue 940.3 795.7 +18.2%
Show Product Lines breakouts
Product 780 670.7 +16.3%
Service 160.3 125 +28.2%
Gross Profit 1,830.5 1,457.7 +25.6%
Research & Development 361.9 316.2 +14.5%
Selling, General & Administrative 613.3 563.4 +8.9%
Operating Expenses 975.2 879.6 +10.9%
Operating Income 855.3 578.1 +48.0%
Non-Operating Income (Expense) 85.1 90.4 -5.9%
Income Before Taxes 940.4 668.5 +40.7%
Income Tax Expense (Benefit) 114.4 -35.2 +425.0%
Net Income 821.5 698.4 +17.6%
Show Equity Components breakouts
Parent 821.5 698.4 +17.6%
Retained Earnings 821.5 698.4 +17.6%
Comprehensive Income 794.7 722.6 +10.0%
EPS (Basic) 2.31 1.95 +18.5%
EPS (Diluted) 2.28 1.92 +18.7%
Wtd Avg Shares (Basic) 354.9 357.5 -0.7%
Wtd Avg Shares (Diluted) 359.8 364.6 -1.3%
Net Income Loss Attributable To Noncontrolling Interest 4.5 5.3 -15.1%
Show Equity Components breakouts
Noncontrolling Interest 4.5 5.3 -15.1%
Show Related Party Transactions By Related Party breakouts
Corporate Joint Venture 4.5 5.3 -15.1%
Foreign Currency Transaction Gain Loss Before Tax -19.2 7.7 -349.4%
Operating Lease Lease Income 250.2 195.2 +28.2%
Show Deferred Revenue Arrangement Type breakouts
Variable Lease Revenue, Usage-Based Arrangements 157.2 111.7 +40.7%

Balance Sheet

Balance Sheet
Metric Q1 2026 Q1 2025 YoY
Current Assets
Cash & Cash Equivalents 2,006.5 2,573.8 -22.0%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level1 1,205.2 1,996.5 -39.6%
Fair Value Inputs Level1 · Money Market Funds 1,154.8 1,786.7 -35.4%
Fair Value Inputs Level1 · US Treasury Securities 50.4 209.8 -76.0%
Fair Value Inputs Level2 1.7
Fair Value Inputs Level2 · Corporate Debt Securities 1.7
Show Financial Instrument breakouts
Cash 799.6 577.3 +38.5%
Marketable Securities (Current) 2,510.8 1,937.5 +29.6%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level1 2,241.1 1,698.8 +31.9%
Fair Value Inputs Level1 · US Treasury Securities 2,241.1 1,698.8 +31.9%
Fair Value Inputs Level2 269.7 238.7 +13.0%
Fair Value Inputs Level2 · Commercial Paper 0.4
Fair Value Inputs Level2 · Corporate Debt Securities 71.3 120.3 -40.7%
Fair Value Inputs Level2 · US Government Agencies Debt Securities 198 117 +69.2%
Accounts Receivable 1,595.6 1,221.5 +30.6%
Inventory 1,945.1 1,553.6 +25.2%
Prepaid Expenses & Other Current Assets 751.5 371.4 +102.3%
Total Current Assets 8,809.5 7,657.8 +15.0%
Non-Current Assets
Property, Plant & Equipment 5,447.9 4,799 +13.5%
Marketable Securities (Non-Current) 3,461.9 4,589.9 -24.6%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level1 2,968.1 4,149 -28.5%
Fair Value Inputs Level1 · US Treasury Securities 2,968.1 4,149 -28.5%
Fair Value Inputs Level2 493.8 440.9 +12.0%
Fair Value Inputs Level2 · Corporate Debt Securities 392 45.8 +755.9%
Fair Value Inputs Level2 · US Government Agencies Debt Securities 101.8 395.1 -74.2%
Deferred Tax Assets 683.8 1,038.6 -34.2%
Goodwill 613.2
Total Assets 20,111 19,220.4 +4.6%
Intangible Assets 167.5
Show Finite Lived Intangible Assets By Major Class breakouts
Customer Relationships 143.7
Distribution Rights 15.6
Technology Based Intangible Assets 8.2
Other Assets
Intangible And Other Assets 1,094.7 787.6 +39.0%
Current Liabilities
Accounts Payable 332.9 276.2 +20.5%
Employee Related Liabilities Current 370.7 309.7 +19.7%
Deferred Revenue 559.5 496.3 +12.7%
Other Liabilities Current 647.9 455.9 +42.1%
Total Current Liabilities 1,911 1,538.1 +24.2%
Non-Current Liabilities
Liabilities Other Than Longterm Debt Noncurrent 602.8 474.6 +27.0%
Total Liabilities 2,513.8 2,012.7 +24.9%
Accrued Income Taxes Noncurrent 220.3 231.8 -5.0%
Stockholders' Equity
Common Stock 0.4 0.4 0.0%
Additional Paid In Capital Common Stock 11,059.9 9,993.7 +10.7%
Retained Earnings 6,397.7 7,139.4 -10.4%
Accumulated Other Comprehensive Income 16.5 -27.1 +160.9%
Total Stockholders' Equity 17,474.5 17,106.4 +2.2%
Minority Interest 122.7 101.3 +21.1%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 17,597.2 17,207.7 +2.3%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment -21.8 -14.5 -50.3%
Accumulated Gain Loss Net Cash Flow Hedge Parent 13.9 0.6 +2216.7%
Accumulated Net Unrealized Investment Gain Loss 6.9 14.5 -52.4%
Accumulated Other Comprehensive Income 16.5 -27.1 +160.9%
Accumulated Translation Adjustment 17.5 -27.7 +163.2%
Additional Paid In Capital 11,059.9 9,993.7 +10.7%
Common Stock 0.4 0.4 0.0%
Noncontrolling Interest 122.7 101.3 +21.1%
Parent 17,474.5 17,106.4 +2.2%
Retained Earnings 6,397.7 7,139.4 -10.4%
Total Liabilities & Equity 20,111 19,220.4 +4.6%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q1 2026 YTD Q1 2025 YoY
Operating Activities
Net Income 826 703.7 +17.4%
Depreciationand Gain Losson Dispositionof Property Plant Equipment 178.9 137.5 +30.1%
Amortization Of Intangible Assets Contract Acquisition And Other Assets 21.1 12.1 +74.4%
Accretion Amortization Of Discounts And Premiums Investments -10.2 -17.7 +42.4%
Gain Loss On Sale Of Business 7.9
Increase Decrease In Deferred Income Taxes 339.3 0.1 +339200.0%
Stock-Based Compensation 209.5 185.2 +13.1%
Change in Accounts Receivable 25.1 3.6 +597.2%
Change in Inventory -266.6 -211.1 -26.3%
Change in Prepaid & Other Assets -269.3 -7.8 -3352.6%
Change in Accounts Payable 73.9 83.1 -11.1%
Increase Decrease In Employee Related Liabilities -284.7 -226 -26.0%
Increase Decrease In Deferred Revenue 46.1 37 +24.6%
Increase Decrease In Other Operating Liabilities 30.7 -118.1 +126.0%
Net Cash from Operations 911.9 581.6 +56.8%
Investing Activities
Payments To Acquire Marketable Securities -911.3 -519.8 -75.3%
Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities 582.3 849.9 -31.5%
Proceeds From Sale Of Other Productive Assets 46
Payments To Acquire Productive Assets -103.3 -116.6 +11.4%
Payments To Acquire Businesses Net Of Cash Acquired 528.2
Net Cash from Investing -914.5 213.5 -528.3%
Financing Activities
Proceeds From Stock Plans 121.8 134.3 -9.3%
Tax Withholding for Share Compensation -352.3 -370.1 +4.8%
Share Repurchases -1,123.2
Net Cash from Financing -1,353.7 -235.8 -474.1%
Supplemental
Unpaid Capital Expenditures 65.2 97.8 -33.3%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 1 -4.5 +122.2%
Net Change in Cash -1,355.3 554.8 -344.3%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 2,052.1 2,617.2 -21.6%

Values in millions USD. Source: SEC EDGAR 10-Q filing.

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