intuitive surgical investor presentation 2021

Now turning to the clinical side of our business. Another third works closely with customers in the field, and the remaining third have traditionally worked in lab and office environments. And so we have some indications that we saw backlog reflected in the Q2 results. And I think you've alluded to adding additional instruments and accessories, so can you talk on the hardware side as well? And I know case rises have been largely decoupled from hospitalizations. I think our customers will take their time to evaluate new things as they go. 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. Our total Ion clinical experience is approximately 4,000 cases to date. Today's press release and supplementary financial data tables have been posted to our website. 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. So we're excited about that because it gives them fast and easy access. The Motley Fool has a disclosure policy. Our flexible robotics program, first targeted toward diagnostic bronchoscopy, has had a strong quarter. ISRG stock analysts called for adjusted profit of $13.40 per share and $5.33 billion in sales. (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. Minimum 15 minutes delayed. Current page 1; Page 2; Page 3; . To change your e-mail options at While this did not have a material impact to our operating results in Q2, the outlook we are providing does not reflect any potential significant disruption or additional costs related to supply constraints. To change your e-mail options at Montreal, Quebec, Canada. 10/08/22 - 11:00 AM EDT. The supply issues we called out in the first quarter did not impact Ion placements and procedures in this quarter. ET. And then has the elasticity relative to the extended use program and the pricing adjustments played out relative to your expectations? 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. Intuitive Surgical Investor Relations. The reason I mentioned it early is I think when we've had pretty strong capital quarters the last few, one of the things we want to look for is, are we building unused capacity into the field that -- where procedures softer that would stall us out. Can you maybe just talk a little bit about the road map? Listen to Webcast. Turning to our single-port system. Yeah. We expect these programs to continue their ramp as our labs and development programs recover efficiency. And I guess why won't that continue? However, we anticipate more customers will seek leasing or alternative financing arrangements than reflected in historical run rates. So good morning, everyone, and welcome to Medistim's Fourth Quarter Presentation for 2022. Intuitive Surgical's Q1 2021 adjusted earnings per share is expected to be $2.72 per Trefis analysis, over 3% above the consensus estimate of $2.63. The Company believes these non-GAAP financial measures are useful to investors, because (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making, and (2) they are used by institutional investors and the analyst community to help them analyze the performance of the Companys business. We've seen a few teams come out and field systems that are alternatives to ours. Intuitive Surgical jumps past $100 billion market value as 1st-quarter China growth in the second quarter continued to be far higher than our other regions, primarily reflecting the 40% system installation growth over the past year. Gary, a separate topic. Having said that, it's a difficult procedure for surgeons to perform. The increase compared to prior year reflects costs associated with higher headcount, increased variable compensation, and increased spending in areas impacted by COVID. Presentation: Operator. 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 December 31, 2021.Reported revenue and procedure results are consistent with the Company's press release issued on January 12, 2022. Theyjust revealed what they believe are thetenbest stocksfor investors to buy right now and Intuitive Surgicalwasn't one of them! We think there is an opportunity to accelerate learning and to drive increased insight for a surgeon into their own progress. And we expect those to come back as COVID goes away and the restrictions on travel and the restrictions on other activities go away. Gary S. Guthart Chief Executive Officer, Member of the Board of Directors. The outlook we are providing on today's call does not reflect risks associated with a significant increase in COVID-related hospitalizations in relation to the Delta variant or other potential new variants. They're calling on customers. While there continues to be COVID hotspots within some of our Asia Pacific markets, overall procedures in the region performed well. It doesn't seem like the backlog would be exhausted just after one quarter. You may automatically receive Intuitive Surgical financial information by e-mail. Thank you. Listen to Webcast. Intuitive Announces Preliminary Fourth Quarter and Full Year 2021 Results. Later we will have a question-and-answer session. 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. Intuitive Announces Fourth Quarter Earnings, Less: net income attributable to noncontrolling interest in joint venture. For more information, please visit the Companys website at www.intuitive.com. The Company defines non-GAAP gross profit as gross profit, excluding amortization of intangible assets and SBC and long-term incentive plan expenses. Marshall, the operating margin coming in at the 43%, I'm just wondering how much we can extrapolate here? In the past 60 days, the Zacks Consensus Estimate for its earnings has moved north by 8.4% to $14.72. 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. The stock movement pushed Intuitive . your options for e-mail notification, please enter your e-mail address below and click 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. To the extent that COVID impacts procedures, it will also impact capital purchases. So here's kind of where we stand with the backlog. In fact, our commentary is a little bit the opposite that these are being highly utilized. Doctors talking to us about further expansion of utilization. Maybe just at the beginning of your comments, I was struck that you emphasized that da Vinci utilization rates are, if I understood you correctly, at the high end of historical averages. But can you maybe just talk through the thought process there and how you're thinking about any potential risks in the back half of the year from the variant cases? Calvin Darling -- Senior Director of Finance, Investor Relations. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Second-quarter spending was below our expectations due to activities restricted by COVID, including clinical development, marketing events, and travel costs. Feb 2021 - Jun 2021 5 months Advised and supported life science entrepreneurs through market validation, regulatory, reimbursement, intellectual property, investor narrative, and talent . Ladies and . Intuitive | Robotic Surgery Conference | 360 Program - Intuitive Surgical I think that's anecdotal. And recently, we've had a series of very encouraging conversations on the adoption of bariatrics, very encouraging. Intuitive Surgical Stock Appears To Be A Better Bet Over This - Forbes Add to that, the uncertainty of wave 4, possibility of wave 4 makes it tough to put a number on, Larry. We're doing that as a combination of My Intuitive plus some of the simulation work that we do, plus some of the machine learning and video analysis work that we do. Obviously, you made some comments about variance and not factoring in kind of an increase. But I don't have scientific evidence. Clinical trial sites completed enrollment for our PRECIsE clinical trial. Tycho Peterson -- JPMorgan Chase & Co. -- Analyst. any time, re-enter your e-mail address and click Submit, then adjust your form entries. OK. Well, thank you, and our moderator, that was our last question. Intuitive Announces Fourth Quarter Earnings | Intuitive Surgical Or is this simply and primarily just something about the pandemic accelerating the use of da Vinci and robotics surgery broadly? Intuitive Surgical, Inc. ISRG recently announced preliminary results for fourth-quarter and full-year 2021. Well, I'll add one bit of color to that. Good afternoon. any time, re-enter your e-mail address and click Submit, then adjust your form entries. The Company defines non-GAAP income from operations as income from operations, excluding intangible asset charges, certain acquisition-related items for the re-measurement of contingent consideration, SBC and long-term incentive plan expenses, and litigation charges and recoveries. 10 stocks we like better thanIntuitive SurgicalWhen our award-winning analyst team hasa stock tip, it can pay to listen. The study contains 371 patients that underwent an incisional hernia repair procedure across 17 institutions within the United States between May 2016 and September 2019. If You Invested $1,000 in Intuitive Surgical's IPO, This Is How Much By uniting advanced systems, progressive learning, and value-enhancing services, we help physicians and their teams optimize care delivery to support the best outcomes possible. During the first half of 2022, the Company saw COVID-19 resurgences impact da Vinci procedure volumes in the U.S. and Europe followed by recoveries. SBC expense has been, and will continue to be for the foreseeable future, a significant recurring expense in the Companys business. 2021 Proxy Statement - Special Meeting 224.6 KB. Investors have assigned a high trading . Those things are ongoing now. Medistim ASA schlgt ordentliche Dividende fr 2021 vor, zahlbar am 9. Field and marketing costs will tick up if the pandemic wanes. Is Intuitive Surgical a Buy on the Dip? | The Motley Fool At the "Pitching to Investors Programme" you will have an exclusive 10-minute pitching slot on stage for you to showcase your company to our entire audience and the biggest community of investors. Lastly, we continue to digitally enhance our ecosystem. Product and brand names/logos are trademarks or registered trademarks of Intuitive Surgical or their respective owner. INTUITIVE at 2022 Wells Fargo Healthcare Conference. Q2 2022 INTUITIVE Earnings Conference Call. Our second-quarter 2021 performance was encouraging, with use of our systems for procedures growing beyond pre-pandemic levels and healthy capital placements. Intuitive Surgical (ISRG) Q2 2021 Earnings Call Transcript What To Expect From Intuitive Surgical's Q1? - Forbes Intuitive Surgical Asensus Surgical . We also believe that growth benefited from some procedures that were previously deferred due to delays in testing and patient concern over COVID. INTUITIVE at 2022 Wells Fargo Healthcare Conference. Contact Information. We've seen that in some OUS markets. The instrumentation updates, there are other things, imaging updates and software updates that are really all focused around right instruments, right features for the right extension or right expansion. 2021 Intuitive Sustainability Report 7.8 MB. To choose . - building a financial model and investor presentation for fundraising . May 2021 - Present 1 year 10 months. 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. These programs together trained over 2,200 care team members in the quarter, showing organizational strength and localizing programs, and responding with agility to pandemic-influenced demand. 3 Reasons to Buy Intuitive Surgical, and 1 Reason to Sell Second-quarter revenue reflected growth in both procedures and system placements. The Company believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance by excluding items such as intangible asset charges, share-based compensation (SBC) and long-term incentive plan expenses, and other special items. Just so really speaking backward-looking, so far, so good. In addition, the components of the costs that the Company excludes in its calculation of non-GAAP net income attributable to Intuitive Surgical, Inc. and non-GAAP EPS may differ from the components that its peer companies exclude when they report their results of operations. Both gynecology and urology procedure annualized growth strengthened in the quarter, as pandemic pressures eased in the U.S. Finally, we expect to continue to invest in expanding and accelerating our ecosystem of products and capabilities. My name is Kari Krogstad. In the United States, procedure growth was strong in the quarter, driven by growth in bariatric surgery, hernia repair, and cholecystectomy. Ion is Intuitives robotic-assisted platform for minimally invasive biopsy in the lung. Product and customer mix fluctuate quarter to quarter, which can cause fluctuations in gross margins. Non-GAAP gross profit. Intuitive Surgical, Inc. (ISRG) - Yahoo Finance The Company believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing its performance and when planning, forecasting, and analyzing future periods. On the benign side, often the diagnostic pipelines are shorter. So I apologize for the short-term-oriented question, but you're the first large-cap company to report here. SBC expense has been, and will continue to be for the foreseeable future, a significant recurring expense in the Companys business. 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. Gross profit, income from operations, net income attributable to Intuitive Surgical, Inc., and net income per diluted share attributable to Intuitive Surgical, Inc. are reported on a GAAP and non-GAAP* basis. Finally, our team is making good progress in scaling our operations. This presentation contains forward-looking statements. Statements using words such as estimates, projects, believes, anticipates, plans, expects, intends, may, will, could, should, would, targeted, and similar words and expressions are intended to identify forward-looking statements. We also find that our economic offerings with da Vinci X and EUP, we have choices that we ourselves can offer our customers. From a U.S. perspective, I think it's early, and I think we're simply acknowledging the risk. I think there's elements of our spend that have been restrained because of -- restricted because of COVID and its impact. Our technologies include the da Vinci surgical system and the Ion endoluminal system. China continued the strength that we've seen over the last couple of quarters. These forward-looking statements include, but are not limited to, statements related to the expected impacts of the COVID-19 pandemic on our business, financial condition, and results of operations, the potential impact on our procedure volume, our expected business, procedures, and procedure adoption, future results of operations, future financial position, our ability to increase our revenues, the anticipated mix of our revenues between product and service revenues, our financing plans and future capital requirements, anticipated costs of revenue, anticipated expenses, our potential tax assets or liabilities, our investments, anticipated cash flows, our ability to finance operations from cash flows and similar matters, and statements based on current expectations, estimates, forecasts, and projections about the economies and markets in which we operate and our beliefs and assumptions regarding those economies and markets. Given the stronger recovery of procedures we have experienced so far, particularly in the U.S., and strength in U.S. general surgery, we are now increasing our forecast and expect full-year 2021 procedure growth of 27% to 30%. An accomplished communicator seeking opportunities in Ottawa, with a proven ability to multitask under high-pressure situations to meet deadlines. Making the world smarter, happier, and richer. Jamie, anything? Actual results may differ materially from those expressed or implied as a result of certain risks and uncertainties. Additional supplemental financial and procedure information has been posted to the Investor Relations section of the Intuitive website at https://isrg.gcs-web.com/. 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. But once you develop a really capable ecosystem, then it has a lot of platform use, and that investment can be recovered over time. . 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. Ion system placements and procedures are excluded from our overall system and procedure counts. In terms of penetration or adoption, we're in the early to mid-innings kind of range is what I'd say in the U.S. market. While there is likely some amount of backlog that has not yet been addressed, it is difficult to estimate the extent of the remaining backlog and when it will affect future procedure growth. Third, driving depth and excellence in regional performance, particularly in Europe and Asia. Procedure growth in the U.S. was led by bariatric cholecystectomy and hernia procedures. Copyright 2023 Intuitive Surgical. Our digital learning programs continue to be an important part of our overall learning initiatives. You may automatically receive Intuitive Surgical financial information by e-mail. Our installed base of SP Systems is now 79: eight in Korea and 71 in the U.S. We completed first cases associated with a U.S. colorectal clinical trial in the second quarter. After all, the newsletter theyhave run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. COVID has delayed some work in R&D and clinical trials, leading to some underspend in programs, prototypes, and some delay in hiring. In Europe, the impact of COVID in the second quarter of 2021 varied regionally with slower recovery in Italy and France, while we saw early stages of a recovery in the U.K. I'm just curious from what you see out there, is this broadly reflective of what you think is going on in the marketplace for surgical procedures? However, our expense growth rate was modestly lower than our plan, driven by pandemic-related factors. 2 Healthcare Stocks You Can Buy and Hold for the Next Decade, Why Things Could Get Worse Before They Get Better for This Growth Stock, 2 Stocks to Buy No Matter What Happens This Year, Why Intuitive Surgical Stock Slumped in January. Please note that this conference call will be available for audio replay on our website at intuitive.com on the latest Events section under our Investor Relations page. The results of the meta-analysis found that robotic-assisted thoracic surgery compared to VATs was associated with, among others, the following significant findings: 50.4 milliliters lower blood loss, a 50% lower chance of conversion to an open procedure, a 1.1 day shorter stay in the hospital and a 10% less chance of patient experience to postoperative complication. We expect our pro forma rate for the last six months of 2021 to be between 21% and 22% versus our previous guidance of 20% to 21%, reflecting a greater proportion of U.S. income for the year. First cases in our SP colorectal IDE trial were completed in the quarter as we seek to bring SP capability to additional procedures. Intuitive Surgical, Inc.Which belongs to the Zacks Medical - Instruments industry, posted revenues of $1.29 billion for the quarter ended March 2021, surpassing the Zacks Consensus Estimate by 16. . Rick Wise -- Stifel Financial Corp. -- Analyst. To choose You may automatically receive Intuitive Surgical financial information by e-mail. Phone: 408-523-2161 (2021) Dropped off in 2022. The higherfourth quarter revenue was driven by growth in da Vinci procedure volume, partially offset by a decline in system placements and foreign currency impacts. I've had the privilege of seeing Intuitive develop the use of robotics in multiple clinical indications over the years. And we think that the extended use instruments lowers barriers for purchases of systems. Additionally, constant currency revenue growth is reported on a non-GAAP* basis. A reconciliation between our pro forma and GAAP results is posted on our website. INTUITIVE SURGICAL, INC.-14.33%: 79 654: BOSTON . Laparoscopy Surgical Robotic System and Consumables Market [2023-2030 Most of our offices globally are reopening with this hybrid approach. Sales increased 17% to $1.55 billion, just ahead of ISRG stock analysts' projections for . We could see one large competitor approved in the second half of this year. your options for e-mail notification, please enter your e-mail address below and click We placed 20 Ion systems in the quarter, bringing the installed base to 70 systems. NeuroPace Reports Fourth Quarter & Full Year 2022 Financial Results Colorectal growth was strong, with solid growth in malignant hysterectomy, thoracic, and prostatectomy procedures. During the quarter, a group from the Shenzhen Hospital Naval Medical University in China, published a meta-analysis in BMC cancer comparing robotic-assisted thoracic surgery versus video-assisted thoracic surgery, or VATs, for lung lobectomy or segmentectomy in patients with nonsmall cell lung cancer. Intuitive Surgical (ISRG 0.58%) Q3 2021 Earnings Call Oct 19, 2021, 4:30 p.m. The difference in the number of subjects reporting the need for prescription pain medication favored the robotic-assisted group in both comparisons." Gary will present the quarter's business and operational highlights. Q2 2022 INTUITIVE Earnings Conference Call. Some of them are included in our service contracts, some of them are on a per-use basis. OK, great. The Company's da Vinci Surgical System offers surgeons superior visualization, enhanced dexterity, greater precision and ergonomic comfort for the optimal performance of MIS. 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. Intuitive Surgical Is Falling After Earnings. This Analyst Thinks It's Long-term incentive plan expense relates to phantom share awards granted in China by the Companys Intuitive-Fosun joint venture to its employees that vest over four years and can remain outstanding for seven to ten years. All Rights Reserved. The Company uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. And regarding the backlog, how do you know there was catch-up and why won't that continue for the next few quarters? Second, disciplined execution of our launches, including our advanced instruments, SP, Ion, and digital efforts. One on procedures, one on competition. . 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. any time, re-enter your e-mail address and click Submit, then adjust your form entries. 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. Mehr Brsen-Nachrichten . And then now we have rolled it out to most other markets in the first six months of this year, except for China where there are longer regulatory timelines. Second-quarter OUS procedure volume grew approximately 51%, compared with a 7% decline for the second quarter of 2020 and 23% growth last quarter.

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