Short answer
Intuitive Surgical (ISRG) filed its Q3 2025 10-Q quarterly report on Oct 22, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $2.5B (up 22.9% year over year) with net income of $704M.
Q3 2025 key financials · XBRL
- Revenue
- $2.5B
- +22.9% YoY · +2.7% QoQ
- Net income
- $704M
- +24.7% YoY · +7.0% QoQ
- Operating margin
- 30.3%
- Gross margin
- 66.4%
- EPS (diluted)
- $1.95
- +25.0% YoY · +8.3% QoQ
Source: XBRL data from the Intuitive Surgical (ISRG) Q3 2025 10-Q on SEC EDGAR. USD.
Intuitive Surgical Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $2.51B Q3 2025, up 23% YoY from $2.04B Q3 2024; 9M revenue $7.20B up 21% from $5.94B YoY
- Gross margin 66.4% Q3 2025 vs 67.4% Q3 2024; product margin 66.8% vs 67.5%; service margin 63.8% vs 66.9% (Q3 YoY)
- Best segment: Instruments/accessories revenue up 20% to $1.52B Q3; worst margin: service margin declined 63.8% vs 66.9% Q3 YoY
- Cash, cash equivalents, investments $8.43B as of 9/30/2025, down $0.40B since 12/31/2024; repurchased 4.0M shares for $1.92B in Q3
- Management notes near-term headwinds: tariffs increased cost by $22M in Q3, supply constraints, hospital funding pressures, competition in China, expects continued capex $625M-$675M in 2025
Risk Factors
- No new or changed risk factors this quarter compared to 2024 10-K
- Carried-forward regulatory risk: compliance with evolving medical device regulations globally
- Operational risk: dependence on product innovation and market acceptance for growth
- Financial risk: impacts from currency fluctuations on international revenues and expenses
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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