Intuitive Raises da Vinci Procedure Outlook as Q1 Revenue Climbs 23% to $2.77 Billion

Intuitive raised its 2026 forecast for da Vinci procedure growth on April 21 after reporting first-quarter revenue of $2.77 billion, up 23% from $2.25 billion a year earlier, according to the earnings release it filed with the SEC.

The Sunnyvale, California, maker of the da Vinci surgical robot now expects worldwide da Vinci procedures to grow about 13.5% to 15.5% in 2026, up from the 13% to 15% it had previously forecast, Bloomberg reported.

Procedures and placements

Worldwide procedures using the da Vinci and Ion systems combined grew about 17% from the first quarter of 2025, the company said. Da Vinci procedures rose about 16% and procedures with its Ion endoluminal system rose about 39%.

Intuitive placed 431 da Vinci systems in the quarter, compared with 367 a year earlier. Of those, 232 were da Vinci 5 systems, up from 147. The company placed 52 Ion systems, compared with 49. Its installed base of da Vinci systems reached 11,395 at March 31, up 12% from 10,189 a year earlier, and the Ion installed base grew 22% to 1,041.

Of the da Vinci placements, 243 were under operating lease arrangements, including 118 under usage-based leases, the filing shows.

Revenue and profit

Instruments and accessories revenue rose 23% to $1.69 billion, which Intuitive attributed mainly to procedure growth, customer buying patterns and Ion volume. Systems revenue was $651 million, up from $523 million, reflecting more placements, a larger lease installed base and higher da Vinci average selling prices, the company said.

GAAP net income attributable to Intuitive was $822 million, or $2.28 per diluted share, compared with $698 million, or $1.92, a year earlier. Non-GAAP net income was $901 million, or $2.50 per diluted share, compared with $662 million, or $1.81.

The company repurchased 2.3 million shares for $1.1 billion during the quarter and ended March with $7.98 billion in cash, cash equivalents and investments.

"We are pleased with company performance this quarter, which was marked by expanded adoption of our da Vinci, Ion, and digital platforms," CEO Dave Rosa said in the release.

For 2026, Intuitive also forecast a non-GAAP gross profit margin of 67.5% to 68.5% of revenue, including an estimated tariff impact of 1.0% of revenue, and non-GAAP operating expense growth of 11% to 14%. The company said additional tariffs beyond its expectations could have a material effect on its 2026 results.