Q1 2026 Intuitive Surgical Inc Earnings Call Transcript
Key Points
- Intuitive Surgical Inc (ISRG) reported a strong start to 2026 with a 17% total procedure growth, driven by broad-based adoption across da Vinci and Ion platforms.
- The company achieved a 23% increase in Q1 revenue to $2.77 billion, with recurring revenue also up by 23%, accounting for 86% of total revenue.
- Da Vinci 5 utilization continues to exceed that of da Vinci Xi, driving US utilization growth to 4%, with after-hours procedures increasing by 31%.
- Intuitive Surgical Inc (ISRG) received FDA 510(k) clearance for additional uses of force feedback instruments, supporting broader availability and expected steady adoption through 2026.
- The company is making significant progress in its digital ecosystem, investing in data and digital infrastructure to enhance its long-term innovation roadmap, including AI-enabled capabilities.
- Intuitive Surgical Inc (ISRG) faced ongoing challenges in China and Japan, with lower growth rates due to low tender activity, domestic competition, and policy-driven pricing pressure.
- The cyber incident during Q1 resulted in unauthorized access to some customer and employee data, although it did not disrupt business operations.
- Da Vinci bariatrics procedures in the US declined by approximately 10%, impacted by the growth in the use of GLP-1s.
- The market in China remains challenging with procedure growth below the corporate average, reflecting lower tenders and competitive pricing pressures.
- Higher oil and memory prices are expected to have a greater unfavorable impact on gross margins in the remainder of the year.
Good day, and thank you for standing by. Welcome to the Intuitive First Quarter 2026 Earnings Conference Call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Dan Connally, Vice President, Investor Relations. Sir, please go ahead.
Good afternoon, and welcome to Intuitive's First Quarter Earnings Conference Call. Joining me today are Dave Rosa, our CEO; and Jamie Samath, our CFO. Before we begin, I would like to remind you that comments made on today's call may contain forward-looking statements. Actual results may differ materially from those expressed or implied as a result of certain risks and uncertainties. These risks and uncertainties are described in our Securities and Exchange Commission filings, including our most recent Form 10-K filed on February 3, 2026. Our SEC filings can be found through our website at intuitive.com or at the SEC's website. Investors
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