Intuitive reported strong Q3 growth, yet its shares fell by almost 8% after revealing a tempered robotic surgery procedural growth outlook for 2026.
Quarterly revenues reached just over $3bn for Intuitive, indicative of a 22% year-over-year (YoY) uplift. However, investors reacted to a dip in robotic surgery demand the company expects this year amid headwinds from the US and Chinese markets.
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The lion’s share of the robotic surgery giant’s Q3 revenues emanated from its instruments and accessories segment at almost $1.8bn, followed by $769.1m for systems, and $482.2m for services, with each segment outpacing performance in Q2 and on a YoY basis.
According to data compiled by the London Stock Exchange Group (LSEG) and seen by Reuters, Intuitive’s total Q3 revenue, equating to $3 per diluted share, outperformed a consensus analyst estimate of $2.91bn.
In Q3, worldwide procedures performed by Intuitive’s da Vinci and Ion robots grew approximately 15% YoY. As per the company, in Q3 it placed 546 da Vinci robots, of which 315 were da Vinci 5 systems.
Despite the placement upticks reported in Q3, Intuitive now expects global robotic surgery procedure growth in 2026 to come in at the 14% to 15% midpoint, a drop-off from 13.5% to 15.5% as previously outlined in its Q2 financials.
In an earnings call, Intuitive’s head of investor relations, Dan Connally, said: “Our range continues to consider the impact of changes to Affordable Care Act (ACA) premium subsidies on patient behaviour in the US as well as tender volumes and competitive intensity in China, among other factors.”
Intuitive released its Q3 financials after markets closed on 20 October. The company’s shares, listed on the Nasdaq stock exchange, were down by over 8% at $402 per share at market open on 21 October, versus $438 previously. Intuitive has a market cap of $154.74bn.
Despite the revised procedural growth outlook, Intuitive CEO Dave Rosa emphasised that its “strong” Q3 performance was defined by broad placements across its multi-port, single-port, and Ion platforms, with customers using its systems to perform an average of “over 10,000” procedures per day throughout the quarter.
Intuitive’s da Vinci 5 secured US Food and Drug Administration (FDA) clearance in March 2024. The latest generation of the robot was granted a European CE mark in September 2026 for its use in cardiac procedures, representing its most significant indication expansion in recent times.
Rosa continued: “Looking ahead, we will remain focused on serving customers across geographies and sites of care, enabling them to deliver better patient care, outcomes, and experiences, reduce the total cost of care, and expand access to minimally invasive care.”
Despite Intuitive’s mixed results, the overall robotic surgery market is going from strength to strength. GlobalData analysis reveals that the global robotic surgery market is growing at a CAGR of 6.3% and is forecast to reach a valuation of $23.6bn in 2035, up from $12.8bn in 2025. Intuitive held a 48.8% share of the robotic surgical systems market in the US in 2025, as per a GlobalData market model.
