Intuitive books a $450m antitrust settlement as third-quarter revenue rises 22 percent to $3.05bn

Intuitive's third-quarter release discloses that the company has agreed to pay $450 million to settle the da Vinci antitrust class action, without admitting liability or wrongdoing, along with injunctive relief the parties agreed after mediation. It booked the whole amount as a charge in the quarter.

The settlement is not done. It needs preliminary and final approval from the court, and the company says there is no assurance it will get either or that class members will not object.

After tax the charge cost $347 million, or 99 cents a diluted share, which is most of why GAAP net income fell to $523 million, or $1.49 a share, from $704 million, or $1.95, a year earlier. On the company's non-GAAP measure, earnings rose to $3.00 a share from $2.40.

Revenue grew 22 percent to $3.05 billion. Procedures on its da Vinci and Ion systems rose about 15 percent combined, and the company placed 546 da Vinci systems, 315 of them the da Vinci 5, against 427 a year earlier. It bought back 7.8 million shares for $2.94 billion and now expects da Vinci procedures to grow 14 to 15 percent this year, closer to the middle of that range.

The document: Intuitive Surgical, Form 8-K exhibit 99.1, October 20, 2026.