INTUITIVE SURGICAL INC — Form 8-K

Intuitive Surgical reported Q3 2026 revenue of $3.05B (+22% YoY), with da Vinci procedures up 14% and Ion procedures up 31%. The company reached a written settlement agreement to pay $450M (pre-tax; $347M net of tax, or $0.99/share) to resolve the 'In re: da Vinci Surgical Robot Antitrust Litigation' class action without admission of liability. The settlement remains subject to preliminary and final court approval. GAAP net income was $523M ($1.49/share) vs. $704M ($1.95/share) in Q3 2025, depressed by the litigation charge; non-GAAP net income rose to $1.05B ($3.00/share) vs. $867M ($2.40/share). The company repurchased 7.8M shares for $2.94B in the quarter. For full-year 2026, management guided da Vinci procedure growth of approximately 14-15%, with non-GAAP gross margin of 68.7%-69.3% (including estimated 0.9% tariff headwind).