Intuitive Surgical Ties Q2 Procedure Slowdown to Expiration of ACA Subsidies
Intuitive Surgical reported Q2 2026 earnings with revenue of $2.89 billion (up 19% YoY) and net income of $818 million (up 24% YoY). However, U.S. da Vinci procedure growth slowed to 12%, which the company attributed to the expiration of enhanced Affordable Care Act premium subsidies at the end of 2025. CEO Dave Rosa noted that changes in patient coverage and premium dynamics are affecting when patients seek care, particularly for deferrable procedures. Shares fell 12% in Friday trading. Despite the U.S. slowdown, international procedure growth was 20%, and system placements remained strong, including 246 da Vinci 5 units. The company reiterated its 2026 global procedure growth forecast of 13.5% to 15.5%. Intuitive is pursuing new innovations, including a flexible robotic endoscope for gastrointestinal use, and faces growing competition from Medtronic, CMR Surgical, and others. The company is also focusing on expanding into ambulatory surgery centers and reducing procedure costs.
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