Intuitive Surgical Shareholders Approve All Proposals at 2026 Annual Meeting, Elect 10 Directors

Key Points

• Stockholders approved all four proposals at Intuitive Surgical’s 2026 annual meeting, re-electing the board’s slate of 10 directors and approving executive compensation, ratifying PricewaterhouseCoopers as auditor, and amending the 2010 Incentive Award Plan.
• Intuitive reported strong operating results—2025 revenue just over $10 billion, 19% total procedure growth, a global installed base of about 12,000 systems, and Q1 2026 revenue of roughly $2.77 billion (up 23% year over year).
• Management emphasized product adoption and innovation—noting broad uptake of da Vinci 5, rapid SP and Ion growth, 510(k) clearance for Force Feedback instruments, and a multi-year digital/AI roadmap—while prioritizing global expansion, manufacturing optimization and increased R&D for 2026.

Intuitive Surgical NASDAQ: ISRG stockholders voted to approve all four proposals presented at the company’s 2026 Annual Meeting of Stockholders, which was held virtually, according to meeting remarks led by Gary Loeb, executive vice president and chief legal and compliance officer.

Annual meeting proposals approved

Loeb said the company had 355,230,371 shares of common stock outstanding and entitled to vote as of the March 2, 2026 record date. He also said the inspector of election reported that a quorum was present based on proxies received.

Stockholders elected the board’s slate of 10 directors to serve until the 2027 annual meeting: Dr. Craig Barratt, Joseph Beery, Lewis Chew, Dr. Gary Guthart, Sreelakshmi Kolli, Dr. Amy Ladd, Keith Leonard, Jami Dover Nachtsheim, Dr. Monica Reed, and David Rosa. Loeb said preliminary vote reports showed “sufficient votes” for each nominee.

In addition, Loeb reported that stockholders approved the following proposals based on preliminary vote results:

• An advisory vote to approve compensation of the company’s named executive officers
• Ratification of PricewaterhouseCoopers LLP as independent registered public accounting firm for the fiscal year ending Dec. 31, 2026
• Approval of an amendment and restatement of the company’s amended and restated 2010 Incentive Award Plan

Loeb said final vote results will be reported in a Form 8-K to be filed with the U.S. Securities and Exchange Commission within four business days.

CEO remarks highlight mission and global expansion

Following the formal meeting, Chief Executive Officer David Rosa opened his business presentation by recognizing Amal Johnson’s service on the board. Rosa said Johnson joined the board in April 2010 and served as chair of the compensation committee, calling her “an exemplary board member” whose “strategic insights have been instrumental” over 16 years.

Rosa described Intuitive’s mission as centered on patient care, enabled by technology including robotics, artificial intelligence and advanced vision systems. He said the company measures progress using a “Quintuple Aim,” which he described as improving outcomes, enhancing the patient experience, improving the care team experience, lowering the total cost of care, and expanding access to minimally invasive surgery globally.

Rosa said Intuitive’s platforms—its multi-port systems, da Vinci SP, and the Ion bronchoscopic platform—have been developed with those aims in mind, and that Intuitive’s technology has “impacted more than 20 million patients” over the company’s history. He also highlighted international growth, saying that in 2005 about 17% of patients treated with the company’s technology were outside the U.S., rising to 35% by 2025, with an expectation that the trajectory will continue.

2025 results and early 2026 performance

Rosa said about 3.2 million of the 20 million procedures were performed in 2025, including over 3 million on multi-port systems, about 55,000 on single port, and about 140,000 on Ion. He said roughly 1,900 systems were placed during 2025, bringing the global installed base to about 12,000 systems.

He also pointed to published research, saying more than 4,000 articles were published in 2025 on the merits, economics and clinical outcomes associated with the company’s products, contributing to about 48,000 cumulative peer-reviewed articles to date.

Rosa said a third-party customer survey conducted with J.D. Power resulted in a 2025 Net Promoter Score of 76, which he said is considered “world-class” above 70. He attributed the result primarily to product performance and alignment of Intuitive’s teams with customer goals.

Discussing 2025 operating conditions, Rosa cited challenges including a “dynamic trade environment” persisting into 2026, increased pricing and competition in China, government budget pressures in Japan and the U.K., and continued pressure in the bariatric market in the U.S. and internationally tied to GLP-1 drugs. He said areas of strength included U.S. general surgery and the broader launch of da Vinci 5, along with strong utilization growth for SP and Ion.

On financial and operating metrics, Rosa said Intuitive delivered 19% total procedure growth in 2025, 13% installed base growth, and revenue “just eclipsing $10 billion.” For the first quarter of 2026, he reported 17% total procedure growth year over year and revenue of about $2.77 billion, representing a 23% increase, along with 12% da Vinci installed base growth and a 67.8% non-GAAP gross margin.

Platform updates: da Vinci 5, SP, and Ion

Rosa said the company had about 12,000 systems installed globally, including 5,000 outside the U.S. He also noted the company received 510(k) clearance for additional uses for Force Feedback instruments, which he described as a primary feature of da Vinci 5.

On da Vinci 5, Rosa said more than 380,000 procedures have been completed on the system roughly two years into its launch. He reported about 1,400 systems installed globally and nearly 13,000 surgeons using da Vinci 5. In the U.S., he said the company is seeing 11% higher utilization for da Vinci 5 compared with the Xi system. He also referenced ongoing additions to da Vinci 5, including a force gauge for Force Feedback instruments, user interface refinements, and the Vessel Sealer Curved instrument, along with improved 3D model integration.

Rosa said Intuitive is continuing work in imaging and instrumentation, referencing molecules for highlighting the ureter and prostate cancer, progress on a “multi-fire clip applier,” and development of hyperspectral imaging to show tissue oxygenation as a proxy for perfusion. He also outlined a “layered, multi-year” digital and AI roadmap that begins with data collection, expands to insights and dashboards, and could lead to intraoperative guidance, “augmented dexterity,” and eventually automation.

For da Vinci SP, Rosa reported 87% year-over-year procedure growth in 2025, with the installed base up 39% to 370 systems and utilization rising 29% to nearly 180 annually. For Ion, he reported 51% growth in procedures to about 140,000 annually, with installed base growth of 24% and utilization growth of 9%.

2026 priorities and shareholder Q&A

Rosa outlined four priorities for 2026: platform growth (including global expansion of da Vinci 5, SP and Ion and follow-on digital releases), procedure adoption by country through training and market access, industrial scale and supply continuity through product quality and manufacturing optimization, and innovation aimed at reaching more patients and advancing early-stage R&D.

In response to a shareholder question about whether the company’s focus over the next one to five years will be manufacturing and market expansion or innovation, Rosa said both are priorities. He emphasized manufacturing optimization and geographic footprint to support the existing base of 12,000 installed systems and to provide flexibility amid shifting geopolitical conditions. On innovation, he said it is “a core focus” and added that the company intends to increase investment in research and development to bring new products and advance the Quintuple Aim.

About Intuitive Surgical NASDAQ: ISRG

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon's hand movements into finer, scaled motions of small instruments inside the patient. Intuitive's business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.

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