Intuitive Surgical

The Company repurchased 4.0 million shares of its common stock for $1.92 billion in the third quarter of 2025.

SEC original ↗Intuitive Surgical — Earnings release (8-K exhibit)EX-99Oct 21, 2025

The Company ended the third quarter of 2025 with $8.43 billion in cash, cash equivalents, and investments, a decrease of $1.10 billion during the quarter, primarily driven by cash used in repurchases of common stock and capital expenditures, partially offset by cash generated from operations.

SEC original ↗Intuitive Surgical — Earnings release (8-K exhibit)EX-99Oct 21, 2025

The following tables present the breakdown of the available-for-sale debt securities with unrealized losses (in millions): As of September 30, 2026 Unrealized losses less than 12 months Unrealized losses 12 months or greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.

SEC original ↗Intuitive Surgical — 10-Q Quarterly report10-QOct 21, 2026

treasuries $ 3,198.5 $ ( 45.6 ) $ 40.0 $ ( 0.1 ) $ 3,238.5 $ ( 45.7 ) Corporate debt securities 431.2 ( 13.3 ) 14.8 ( 0.1 ) 446.0 ( 13.4 ) U.

SEC original ↗Intuitive Surgical — 10-Q Quarterly report10-QOct 21, 2026

treasuries $ 298.0 $ ( 0.3 ) $ 164.4 $ ( 0.6 ) $ 462.4 $ ( 0.9 ) Corporate debt securities 44.5 73.6 ( 0.7 ) 118.1 ( 0.7 ) U.

SEC original ↗Intuitive Surgical — 10-Q Quarterly report10-QOct 21, 2026

Additionally, all of the Company s investments in corporate debt securities are in securities with high-quality credit ratings, which have historically experienced low rates of default.

SEC original ↗Intuitive Surgical — 10-Q Quarterly report10-QOct 21, 2026

We remain focused on helping our customers achieve the Quintuple Aim delivering better patient care, improving patient and care team experiences, expanding access to high quality care, and reducing overall care costs.

SEC original ↗Intuitive Surgical — Earnings release (8-K exhibit)EX-99Oct 21, 2025

and its impact on hospital spending, reimbursement, and fees levied on certain medical device revenues changes in hospital admissions and actions by payers to limit or manage surgical procedures the timing and success of product development and customer acceptance of developed products the results of any collaborations, in-licensing arrangements, joint ventures, strategic alliances, or partnerships, including the joint venture with Shanghai Fosun Pharmaceutical (Group) Co.

SEC original ↗Intuitive Surgical — Earnings release (8-K exhibit)EX-99Oct 21, 2025

the Company s completion of and ability to successfully integrate acquisitions intellectual property positions and litigation risks associated with the Company s operations and any expansion outside of the U.

SEC original ↗Intuitive Surgical — Earnings release (8-K exhibit)EX-99Oct 21, 2025

, excluding SBC and long-term incentive plan expenses, amortization of intangible assets, litigation charges, gains or losses on strategic investments, tax adjustments, including the excess tax benefits or deficiencies associated with SBC arrangements and the net tax effects related to intra-entity transfers of non-inventory assets, and adjustments attributable to noncontrolling interest in joint venture, net of the related tax effects.

SEC original ↗Intuitive Surgical — Earnings release (8-K exhibit)EX-99Oct 21, 2025

- diluted $ 1.95 $ 1.81 $ 1.56 $ 5.67 $ 4.53 Share-based compensation expense 0.56 0.54 0.48 1.61 1.38 Long-term incentive plan expense 0.01 0.01 0.01 Amortization of intangible assets 0.01 0.01 0.01 0.03 0.04 Litigation charges 0.02 0.01 0.03 0.02 (Gains) losses on strategic investments (0.01) 0.01 (0.01) Tax adjustments (1) (0.14) (0.19) (0.21) (0.95) (0.85) Adjustments attributable to noncontrolling interest in joint venture Non-GAAP net income per share attributable to Intuitive Surgical, Inc.

SEC original ↗Intuitive Surgical — Earnings release (8-K exhibit)EX-99Oct 21, 2025

This range includes an estimated impact from tariffs of 0.7% of revenue, plus or minus 10 basis points.

SEC original ↗Intuitive Surgical — Earnings release (8-K exhibit)EX-99Oct 21, 2025

The updated range for expected non-GAAP* gross profit margin reflects the Company s estimates of the adverse impact from tariffs that are currently in effect as of the time of this press release and assumes such tariffs remain in place.

SEC original ↗Intuitive Surgical — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Should additional tariffs be implemented or existing tariffs be modified, the additional impact on the Company s financial results in 2025, including the change in expected non-GAAP* gross profit margin, could be material.

SEC original ↗Intuitive Surgical — Earnings release (8-K exhibit)EX-99Oct 21, 2025

The ultimate effect of tariffs will depend on various factors, including the proportion of components procured and finished goods manufactured outside of the United States and the amount, scope, nature, and timing of the tariffs.

SEC original ↗Intuitive Surgical — Earnings release (8-K exhibit)EX-99Oct 21, 2025

We do not provide a reconciliation of non-GAAP outlook measures to corresponding GAAP measures on a forward-looking basis, because we are unable to predict with reasonable certainty the exact timing and ultimate outcome of certain items, including but not limited to legal proceedings, without unreasonable efforts.

SEC original ↗Intuitive Surgical — Earnings release (8-K exhibit)EX-99Oct 21, 2025

These forward-looking statements are necessarily estimates reflecting the judgment of the Company s management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements.

SEC original ↗Intuitive Surgical — Earnings release (8-K exhibit)EX-99Oct 21, 2025