intuitive surgical investor presentation 2021

Listen to Webcast. Forward-looking statements relate to expectations concerning matters that are not historical facts. The charge associated with the deferred-tax asset and a higher mix of U.S. income drove the 25% current quarter pro forma rate. We placed four SP systems in the quarter, bringing the total installed base to 79. The next page will display a menu of options. The Company presents constant currency revenue to provide a framework for assessing how our underlying business performed excluding the effect of foreign currency fluctuations. Utilization of clinical systems in the field, measured by procedures per system, increased approximately 55% compared with last year and increased 11% compared with last quarter. COVID had a significant impact on da Vinci procedure volumes in the second quarter of 2020. Ion is Intuitives robotic-assisted platform for minimally invasive biopsy in the lung. Extended use instruments were introduced into the U.S. and Europe in the fourth quarter, in most other markets in the first six months of this year, except China due to regulatory timelines. There were nearly 1,500 Ion procedures completed in the second quarter. Cost basis and return based on previous market day close. We are also working on our regulatory filings to bring SP to Europe under the European Union's new medical device regulation framework. To supplement its consolidated financial statements, which are prepared and presented in accordance with accounting principles generally accepted in the United States (GAAP), the Company uses the following non-GAAP financial measures: non-GAAP gross profit, non-GAAP income from operations, non-GAAP net income attributable to Intuitive Surgical, Inc., non-GAAP net income per diluted share attributable to Intuitive Surgical, Inc. (EPS), and non-GAAP diluted shares outstanding. Our second-quarter 2021 performance was encouraging, with use of our systems for procedures growing beyond pre-pandemic levels and healthy capital placements. Starting with procedures. You may automatically receive Intuitive Surgical financial information by e-mail. Just so really speaking backward-looking, so far, so good. Growth in Japan was solid but was impacted by a relatively slow rollout of vaccines and the impact of localized lockdowns as a result of ongoing efforts to prevent resurgences of COVID-19. Now, I'd turn the conference over to our host, Brian King, Head of Investor Relations for Intuitive Surgical. Or any color you can provide on that? As I conclude, for the balance of the year, we're focused on the following: first, agile and flexible support for our customers globally as they need it, often addressing the return of surgical patients to treatment. See www.intuitive.com/trademarks. Intuitive Announces Fourth Quarter Earnings, Less: net income attributable to noncontrolling interest in joint venture. Second-quarter system average selling prices decreased to $1.55 million from $1.65 million for both the second quarter of 2020 and the first quarter of 2021. I think the thing that we'd call out is it's not the case rates per se to monitor. What was the second part of your question again, Larry? Yeah, sure. I mean, how do you know there was catch-up from the backlog in Q2? The compound annual growth rate between the second quarter of 2019 and the second quarter of 2021 was 16.5%. The tax effects of the non-GAAP items are determined by applying a calculated non-GAAP effective tax rate, which is commonly referred to as the with-and-without method. The stock split will take place after market close on October 5th, 2021. In Q2, we launched our SureForm stapling line in India. 10 stocks we like better thanIntuitive SurgicalWhen our award-winning analyst team hasa stock tip, it can pay to listen. SUNNYVALE, Calif., Jan. 20, 2022 (GLOBE NEWSWIRE) -- Intuitive (the Company) (Nasdaq: ISRG), a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery, today announced financial results for the quarter ended December31, 2021. We are now slightly increasing our forecast and expect full-year gross profit margin to be between 70.5% and 71.5% of revenue. any time, re-enter your e-mail address and click Submit, then adjust your form entries. Product and research reports and data presentation to medical specialists, sales force, new channels, investors. (2021) Dropped off in 2022. Our fully integrated advanced instruments portfolio has been a strong addition to our multiport ecosystem, allowing for high-quality tissue interaction controlled from the surgeon's console while optimizing workflow. I hear your question is asking us how much is left, how much of the catch-up is left. The Board of Directors of Intuitive Surgical approved a 3:1 stock split on August 5th, 2021. Just a couple of comments. What to Watch in Intuitive Surgical's Upcoming Earnings Report The meta-analysis combined 18 studies across different countries containing over 11,000 patients, of which just over 5,000 received da Vinci robotic-assisted thoracic surgery and just over 6,000 received VATs. To choose The Company's da Vinci Surgical System offers surgeons superior visualization, enhanced dexterity, greater precision and ergonomic comfort for the optimal performance of MIS. Investors have assigned a high trading . We heard your comments, but just kind of thinking a little bit longer-term than just the next couple of quarters. We launched our Force bipolar energy instrument along with our extended use instruments program in Japan, and we launched our SynchroSeal energy instrument and E-100 energy generator in Korea. Incredible returns through ups and downs. In short, our commercial business has recovered more quickly than our spending due to the different ways that pandemic impacts our customers, our supply chains, and our hiring. Instrument and accessory revenue per procedure of $1,940 increased, compared with $1,900 per procedure for the second quarter of last year, and decreased, compared with $1,950 per procedure in the first quarter. Q4 2022 INTUITIVE Earnings Conference Call, INTUITIVE at J.P. Morgan Healthcare Conference, Q3 2022 INTUITIVE Earnings Conference Call, INTUITIVE at 2022 Wells Fargo Healthcare Conference, Q2 2022 INTUITIVE Earnings Conference Call, INTUITIVE at 43rd Annual Goldman Sachs Global Healthcare Conference, INTUITIVE at BofA Securities 2022 Healthcare Conference, Q1 2022 INTUITIVE Earnings Conference Call. Our teams continue to work closely with hospitals, physicians, and care teams in pursuit of what our customers have termed the Quadruple Aim: Better, more predictable patient outcomes, better experiences for patients, better experiences for their care teams, and ultimately, a lower total cost to treat. Before we begin, I would like to inform you that comments mentioned on today's call may be deemed to contain forward-looking statements. And we also see, I think, increased patient confidence is a function of the improving vaccination rates. The next page will display a menu of options. See www.intuitive.com/trademarks. From the top, I think you said the right thing, which is there's a little bit of a decoupling thus far of infection from hospitalization. OpenText Collaborates with Bayer to Simplify Digital Operations A contribution to the Intuitive Foundation reduced fourth quarter 2021 GAAP and non-GAAP* income from operations by $30 million. Gary will present the quarter's business and operational highlights. Obviously, you made some comments about variance and not factoring in kind of an increase. The call will be webcast by Nasdaq OMX and can be accessed on Intuitives website at www.intuitive.com or by dialing (844) 867-6169 using the access code 525958. I'm here together with my CFO, Thomas Jakobsen.. | 2 Mrz 2023 . Intuitive Announces Fourth Quarter Earnings, www.intuitive.com/en-us/products-and-services/ion, Less: net income (loss) attributable to noncontrolling interest in joint venture. 2021 : 2022 : 2021 : Revenue $ 12,789 $ 10,997 $ 45,520 $ 45,183 : Cost of goods sold : 3,986 . Anna Stefani - HES Project Manager - Alira Health | LinkedIn The fourth quarter 2022 system placements included 154systems placed under operating lease and usage-based arrangements, compared with 143 systems in thefourth quarter of 2021. [Inaudible] on a nice quarter. Just in 2021 there were more than . System placements came in above plan, and system ASP and I&A revenue per procedure tracked slightly above our expectations, together driving revenue of $1.46 billion in Q2. Jamie Samath Senior Vice President of Finance After all, the newsletter theyhave run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. 2021 Intuitive Sustainability Report 7.8 MB. 10/08/22 - 11:00 AM EDT. Procedure growth in the U.S. was led by bariatric cholecystectomy and hernia procedures. The Companys calculated non-GAAP effective tax rate is generally higher than its GAAP effective tax rate. Intuitive Surgical, Inc. (ISRG) - Yahoo Finance Bringing it all together. . And that is both painful and an opportunity. For full-year 2021, Intuitive Surgical revenues are estimated to be north of $5.7 billion, reflecting a 30% y-o-y growth, while the growth rate is expected to slow to low teens next year . In this Backstage Pass video, which aired Sept. 29, Motley Fool contributor Brian Withers shares his thoughts on Intuitive Surgical, highlighting the metrics investors need to watch when the . 2022 Proxy Statement 36.4 MB. You may automatically receive Intuitive Surgical financial information by e-mail. Intuitive Surgical (ticker: ISRG ) reported an adjusted fourth-quarter profit of $1.30 a share, beating forecasts for $1.28 a share, on sales of $1.55 billion, which topped expectations for $1.52 . That concludes our prepared comments. They use specialized instrumentation, including a miniaturized surgical camera and wristed instruments (i.e., scissors, scalpels, and forceps) that are designed to help with precise dissection and reconstruction deep inside the body. Intuitive Surgical, Inc. (ISRG) CEO Gary Guthart - SeekingAlpha We rolled out the extended use instruments in Europe and the U.S. back in the fourth quarter. I just wondered, are you suggesting or should we be thinking that we could be in the front of a new wave of capital acquisition, with again, capital released because of the need to add additional systems to accommodate the expanding number of procedures? China continued the strength that we've seen over the last couple of quarters. your options for e-mail notification, please enter your e-mail address below and click Q2 2022 INTUITIVE Earnings Conference Call. It also reflects lower diagnostic pipelines and perhaps some reluctance for patients to visit hospitals. The high end of the range assumes strength in U.S. general surgery, a return to normalized diagnostic pipelines, the vaccines are effective against any new COVID-19 variants and the vaccine rollouts in OUS markets continue as currently expected by governments around the world. We will now open the call to your questions. So good morning, everyone, and welcome to Medistim's Fourth Quarter Presentation for 2022. I think there's elements of our spend that have been restrained because of -- restricted because of COVID and its impact. To choose The Company believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance by excluding items such as amortization of intangible assets, share-based compensation (SBC) and long-term incentive plan expenses, and other special items. Intuitive Surgical Is Falling After Earnings. This Analyst Thinks It's Congrats on the quarter. You may automatically receive Intuitive Surgical financial information by e-mail. Consistent with the last quarter's forecast, we expect our noncash stock compensation expense to range between $450 million and $470 million in 2021. If You Invested $1,000 in Intuitive Surgical's IPO, This Is How Much Transitory was out a few years ago and CMR has been out and now Medtronic. Fourth quarter 2022 non-GAAP* income from operations decreased to $530 million, compared with $583 million in the fourth quarter of 2021. We have continued the launch of our My Intuitive app, including launching to first users in Europe. Shares of Intuitive Surgical jumped as much as 9.8% on Wednesday to a record high of $891.15 after the robotic surgery company crushed first quarter earnings. Now that the dust . COVID has delayed some work in R&D and clinical trials, leading to some underspend in programs, prototypes, and some delay in hiring. Well, I'll add one bit of color to that. The Company excludes a one-time tax benefit from re-measurement of certain deferred tax assets, because it is discrete in nature, and excludes the excess tax benefits or deficiencies associated with SBC arrangements as well as the tax effects associated with non-cash amortization of deferred tax assets related to intra-entity non-inventory transfers, because the Company does not believe these items correlate with the on-going results of its core operations. Dec 2017 - Aug 20213 years 9 months. What To Expect From Intuitive Surgical's Q1? - Forbes So I wouldn't start building lots of leverage into your models. And we're early in the Ion product cycle, and we're early in the SP or early mid in SP. So our customers are asking us for advanced instrumentation. OK. And then just one quick follow-up. Non-GAAP net income attributable to Intuitive Surgical, Inc. and EPS. And I think for a subset of the benign procedures that have been kind of deferred elective procedures, hospitals can recover those pretty quickly. Taken together, this combination of a recovery in procedures and healthy utilization supports our solid capital placement trends and rounds out a healthy commercial recovery year to date. On a constant currency basis, fourth quarter 2022 revenue increased 10% compared to the fourth quarter of 2021. So it's hard to time it out, and it doesn't time out over one or two quarters, it times out over years. Second-quarter system placements of 328 systems increased 84%, compared with 178 systems for the second quarter of 2020, and increased 10%, compared with 298 systems last quarter. In the quarter, we continued to engage customers in data analytics and opportunity analysis for surgical programs, cornerstone of our Your Data, Your Truth analytics efforts. Research consulting in a firm with a clear vision to commercialize the neurotechnology industry at scale. It links into some of the other things you're talking about. But at this point, it's just too difficult to estimate and, therefore, kind of give you any additional color on. Finally, we expect to continue to invest in expanding and accelerating our ecosystem of products and capabilities. . Q4 2022 INTUITIVE Earnings Conference Call, INTUITIVE at J.P. Morgan Healthcare Conference, Q3 2022 INTUITIVE Earnings Conference Call, INTUITIVE at 2022 Wells Fargo Healthcare Conference, Q2 2022 INTUITIVE Earnings Conference Call, INTUITIVE at 43rd Annual Goldman Sachs Global Healthcare Conference, INTUITIVE at BofA Securities 2022 Healthcare Conference, Q1 2022 INTUITIVE Earnings Conference Call. Thank you for your support on this extraordinary journey. Investors interested in listening to the conference call may do so by accessing a live and archived webcast of the event at www.neuropace.com, on the Investors page in the News & Events section. These forward-looking statements include, but are not limited to, statements related to the expected impacts of the COVID-19 pandemic on the Companys business, financial condition, and results of operations, future results of operations, future financial position, the Companys financing plans and future capital requirements, the Companys potential tax assets or liabilities, and statements based on current expectations, estimates, forecasts, and projections about the economies and markets in which the Company operates and the Companys beliefs and assumptions regarding these economies and markets. as can be seen with the more than 29,000 peer-reviewed scientific articles that reference Intuitive technologies. Add to that, the uncertainty of wave 4, possibility of wave 4 makes it tough to put a number on, Larry. Those things are ongoing now. In closing, we continue to believe there is a substantial and durable opportunity to fundamentally improve surgery and acute interventions. Are you seeing any impact thus far? Colorectal growth was strong, with solid growth in malignant hysterectomy, thoracic, and prostatectomy procedures. This growth rate compares with 9% last year and 8% last quarter. And I'm actually curious more what's going on with service and software at the hospitalwide kind of department of surgery level. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. Constant currency revenue growth. Plan to attend GIANT 2022. SUNNYVALE, Calif., Jan. 24, 2023 (GLOBE NEWSWIRE) -- Intuitive (the Company) (Nasdaq: ISRG), a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery, today announced financial results for the quarter ended December31, 2022. So short answer there is just kind of a reminder of what we're trying to do. You've got COVID. They're giving their PowerPoints about what they think is going to happen next and some other things. Google's Women Techmakers program provides visibility, community, and resources for women in technology. Fourth quarter 2021 GAAP net income attributable to Intuitive Surgical, Inc. included excess tax benefits of $27 million, or $0.07 per share, compared with $21 million, or $0.06 per share, in the fourth quarter of 2020. As a result, we expect lower trade-in transactions over time. The adjustments between pro forma and GAAP net income are outlined and quantified on our website. Visit www.intuitive.com/en-us/products-and-services/ion. Bob Hopkins -- Bank of America Merrill Lynch -- Analyst. Leasing represented 33% of current quarter placements, compared with 29% last year and 43% last quarter. Readers are cautioned not to place undue reliance on these forward-looking statements, which are based on current expectations and are subject to risks, uncertainties, and assumptions that are difficult to predict, including those risk factors identified under the heading Risk Factors in the Companys Annual Report on Form 10-K for the year ended December 31, 2020, and the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, as updated by the Companys other filings with the Securities and Exchange Commission. Calvin Darling -- Senior Director of Finance, Investor Relations. Some of them are fully included because we feel like they make us more efficient and to make them more efficient. INTUITIVE at 43rd Annual Goldman Sachs Global Healthcare Conference. Fourth quarter 2022 GAAP income from operations decreased to $373 million, compared with $450 million in the fourth quarter of 2021. . That impact was most pronounced in the U.S. and Europe, varied market to market, complicating year-over-year comparisons. The Company undertakes no obligation to publicly update or release any revisions to these forward-looking statements, except as required by law. SBC expense has been, and will continue to be for the foreseeable future, a significant recurring expense in the Companys business. Analysts: . Moving on to capital placements. It's taking getting the advanced instruments, put them together as a set, getting our workflows and our clinical pathways right, and I think that's been powerful to date. (1) Selling, general and administrative includes the effect of the following item: (2) Income from operations includes the effect of the following items: (3) Interest and other income, net includes the effect of the following item: (4) Income tax expense includes the effect of the following item: Excess tax benefits related to share-based compensation arrangements, (5) Diluted net income per share attributable to, Amortization of intangible assets, net of tax, Gains (losses) on strategic investments, net of tax. These non-GAAP financial measures also facilitate managements internal comparisons to its historical performance. In the U.S. and Europe, extended use instruments were nearly fully adopted in the second quarter. And finally, expanding our clinical, economic, and analytical evidence base for key procedures and countries. The increase in instruments and accessories revenue was primarily driven by approximately 18% growth in da Vinci procedure volume, partially offset by customer buying patterns and foreign currency impacts. Our flexible robotics program, first targeted toward diagnostic bronchoscopy, has had a strong quarter. Hi, Gary. What To Expect From Intuitive Surgical's Q3? | Nasdaq We expect pro forma other income, which is comprised mostly of interest income, to total between $50 million and $55 million in 2021. The rise in earnings was driven by higher . Email: investor.relations@intusurg.com. Investors are cautioned not to place undue reliance on such forward-looking statements. Presenter SpeechKari Krogstad Okay. I'll caution that what the next couple of quarters or next four quarters looks like in terms of hospital access to capital and their decision-making, capital is always lumpy. Can you maybe just talk a little bit about the road map? Management addresses these limitations by providing specific information regarding the GAAP amounts excluded from non-GAAP net income attributable to Intuitive Surgical, Inc. and non-GAAP EPS and evaluating non-GAAP net income attributable to Intuitive Surgical, Inc. and non-GAAP EPS together with net income attributable to Intuitive Surgical, Inc. and net income per share attributable to Intuitive Surgical, Inc. calculated in accordance with GAAP. What's left to do from maybe a product or procedure or instrument point of view? You've been spending a lot there. Lease buyout revenue has varied significantly quarter to quarter and will likely continue to do so. And we've received feedback -- positive feedback from surgeons who have indicated that system access has been a key driver for increased procedures. Finally, our team is making good progress in scaling our operations. Fourth quarter 2022 GAAP net income attributable to Intuitive Surgical, Inc. was $325 million, or $0.91 per diluted share, compared with $381 million, or $1.04 per diluted share, in the fourth quarter of 2021. And at this time, I would like to turn the conference over to our host, senior director of finance, investor relations for Intuitive, Mr. Calvin Darling. At Intuitive, we envision a future of care that is less invasive and profoundly better, where diseases are identified early and treated quickly, so patients can get back to what matters most. The next page will display a menu of options. Intuitive | ISRG in the News And so I think you're going to see this quarter was extraordinary in terms of the operating profit margin and that we'll -- it will be lower in future quarters, given what I just described. Intuitive Surgical's Q3 2021 adjusted earnings per share (EPS) is expected to be $1.22 per Trefis analysis, slightly above the consensus estimate of $1.17. Cardio medical GmbH 10.4. So that's a multi-quarter conversation. And that has implications for the kind of imaging we do, it has implications for task analysis and training, and we're doing those things, and those can be aggregated across a surgical platform. Intuitive Surgical Inc (ISRG) Q2 2021 Earnings Call Transcript It's the impact on hospitalizations. Over 5 years of experience in working with experienced consultants in the banking and high-tech sectors to drive projects and initiatives in a cross-cultural environment. Medistim ASA schlgt ordentliche Dividende fr 2021 vor, zahlbar am 9. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. PROCEPT BioRobotics is a surgical robotics company enabling better patient care by developing transformative solutions in urology. How are you thinking about competition? The increase in cash in the second quarter primarily reflected cash from operations and stock exercises. So those are the drivers we watch. In Europe, procedure growth varied by country based on the relative impact of and recovery from the pandemic. We're OK. We're not frightened of that. For nearly three decades we've created products and services born of inspiration and intelligencefrom robotic-assisted surgical systems to data generation that unlocks the potential to benefit care systems worldwide.

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