intuitive surgical investor presentation 2021steve lamacq health problems

Sales increased 17% to $1.55 billion, just ahead of ISRG stock analysts' projections for . An investor who was able to pick up $1,000 worth of Intuitive Surgical shares at its IPO price and held on has seen that investment grow to a whopping . So our customers are asking us for advanced instrumentation. Ion procedures grew sixfold over Q2 2020 to nearly 1,500 procedures in the quarter, reflecting recovery from the pandemic, the growth in new sites, and growth in utilization at existing sites. Please go ahead, sir. Tuesday, October 18, 2022 4:30 PM EDT . SBC expense has been, and will continue to be for the foreseeable future, a significant recurring expense in the Companys business. And I know case rises have been largely decoupled from hospitalizations. We also believe that growth benefited from some procedures that were previously deferred due to delays in testing and patient concern over COVID. That said, other teams are out. Jamie Samath Senior Vice President of Finance Dec 2017 - Aug 20213 years 9 months. The increase compared to prior year reflects costs associated with higher headcount, increased variable compensation, and increased spending in areas impacted by COVID. Intuitive Surgical Inc. (NASDAQ: ISRG) Q1 2021 earnings call dated Apr. 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. Our overall second-quarter procedure growth was 68%, compared to a decline of 19% during the second quarter of 2020, which reflected a significant adverse impact from the COVID-19 pandemic. Fourth quarter 2022 as reported revenue increased 7%compared to thefourth quarter of 2021. Fourth quarter 2022 GAAP income from operations also included litigation charges of $21million. Roughly a third of our team works in the manufacturer test and distribution of our products. 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. We believe value creation in surgery and acute care is foundationally human. Attendees can engage with peers, connect with Intuitive resource teams, and explore innovative robotic-assisted technology spanning the care continuum. Intuitive has managed multiple ways of working for many years. The webcast replay of the call will be made available on our website at www.intuitive.com within 24 hours after the end of the live teleconference and will be accessible for at least 30 days. The Company defines non-GAAP net income as net income attributable to Intuitive Surgical, Inc., excluding amortization of intangible assets, SBC and long-term incentive plan expenses, litigation charges and recoveries, a gain on the sale of a business, gains (losses) on strategic investments, adjustments attributable to noncontrolling interest in joint venture, net of the related tax effects, and 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. The supply issues we called out in the first quarter did not impact Ion placements and procedures in this quarter. Leasing represented 33% of current quarter placements, compared with 29% last year and 43% last quarter. Where are we going with this one? . Our focus is in clinical capability and productivity of the installed base we have. 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. It's a highly penetrated laparoscopic indication in the United States. Fourth quarter 2021 systems revenue increased by 28% to $470million, compared with $367million in the fourth quarter of 2020. I hear your question is asking us how much is left, how much of the catch-up is left. Thanks, Tycho. TransMedics : Investor Presentation - February 2023 The Company undertakes no obligation to publicly update or release any revisions to these forward-looking statements, except as required by law. 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. . Corporate Governance Guidelines 384.4 KB. I think the noise levels will go up. The Companys calculated non-GAAP effective tax rate is generally higher than its GAAP effective tax rate. Add to that, the uncertainty of wave 4, possibility of wave 4 makes it tough to put a number on, Larry. Intangible asset charges consist of non-cash charges, such as the amortization of intangible assets as well as in-process R&D charges. Jamie, in his commentary, said that a lot of those procedures are benign procedures, many of them are shorter duration than longer or more complex disease states. Jamie Samath -- Senior Vice President of Finance. And that if it hasn't delivered against the Quad Aim, if these systems can do some cases well, but not all cases well or they have stability issues or other things, that wears in pretty quickly. Non-GAAP gross profit, non-GAAP income from operations, non-GAAP net income attributable to Intuitive Surgical, Inc., and non-GAAP EPS exclude items such as intangible asset charges, re-measurement of contingent consideration, SBC and long-term incentive plan expenses, excess tax benefits or deficiencies associated with SBC arrangements, and non-cash amortization of deferred tax assets related to intra-entity transfer of non-inventory assets, which are primarily recurring items. All Rights Reserved. In the past 60 days, the Zacks Consensus Estimate for its earnings has moved north by 8.4% to $14.72. - building a financial model and investor presentation for fundraising . Please go ahead. You've been spending a lot there. 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. You go from an issue to identification to closure more quickly. Fourth quarter 2022 GAAP net income attributable to Intuitive Surgical, Inc. included excess tax benefits of $18 million, or $0.05 per diluted share, compared with $27 million, or $0.07 per diluted share, in the fourth quarter of 2021. Yeah. At the time you receive a -- by the time you're at -- that market penetration rates that are significant. I don't know how much of an update you can give us, but just something on what's happening at that level in terms of software tools and services? I would just add, Bob, as you saw the COVID hospitalization rates in the U.S. come down in March and into Q2, that frees hospital resources to increase the level of surgery that we do. Fourth quarter 2021 GAAP income from operations included share-based compensation expense of $120 million, compared with $104 million in the fourth quarter of 2020. Driven by steady sales of da Vinci and increasing surgical procedures, Intuitive Surgical recorded $5.71 billion in revenue for 2021, up 82% over the past five years despite COVID-19 slowdowns. Intuitive brings more than two decades of leadership in robotic-assisted surgical technology and solutions to its offerings and develops, manufactures, and markets the da Vinci Surgical System and the Ion endoluminal system. Second-quarter spending was below our expectations due to activities restricted by COVID, including clinical development, marketing events, and travel costs. From a U.S. perspective, I think it's early, and I think we're simply acknowledging the risk. Learn More, Intuitive Surgical(ISRG 2.61%)Q22021 Earnings CallJul 20, 2021, 4:30 p.m. In the U.S., as COVID continued to subside in the second quarter of 2021, we saw a lower impact on da Vinci procedures. We expanded our installed base of da Vinci Systems over the last year by 10% to approximately 6,335 systems. Intuitive Surgical, Inc. (Nasdaq:ISRG), headquartered in Sunnyvale, Calif., is the pioneer and a global technology leader in robotic-assisted, minimally invasive surgery. 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. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. We think there is an opportunity to accelerate learning and to drive increased insight for a surgeon into their own progress. We think we can bring some outstanding imaging capabilities, including florescence imaging into that space. Intuitive Surgical (ISRG) Q3 2021 Earnings Call Transcript 06/14/22 - 1:20 PM PDT. Yes. J.P. Morgan Healthcare Conference 2023 Presentation 4.2 MB. Supporting investors, corporations, start-ups, and academic research labs. Transcript : Medistim ASA, Q4 2022 Earnings Call, Mar 01, 2023 Intuitive(Nasdaq: ISRG), headquartered in Sunnyvale, California, is a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery. All Rights Reserved. Just a couple of comments. 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. Or any color you can provide on that? Higherfourthquarter revenue was driven by growth in da Vinci procedure volume and system placements. We also find that our economic offerings with da Vinci X and EUP, we have choices that we ourselves can offer our customers. I'll speak to my impression, but I caveat it, it's one person's impression. . Gary, a separate topic. COVID had a significant impact on da Vinci procedure volumes in the second quarter of 2020. All Rights Reserved. Q2 growth was driven by particular strength in benign procedures, including bariatrics, hernia repair, cholecystectomy, and benign hysterectomy, reflecting in part, we believe, a partial catch-up in these procedures related to the previous deferral of elective surgeries. Our pro forma spending grew over 24% from a year ago, representing increased investment in our business. Mai 2022: CI. Procedures recovered nicely in Q2. 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. COVID-19 has had, and may continue to have, an adverse impact on the Companys procedure volumes. Based on market data, we believe that diagnostic pipelines in the U.S. began to recover from the impact of the pandemic in March, with a lag in the recovery of associated procedures. And I kind of articulated what those were, travel and so forth. 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. And I'd just be curious to -- since you all are calling it out repeatedly as an important incremental growth driver, where are we now, in your view, in that, I'm sure, multiyear, long-term adoption process? Contact Information. Submit. The Company undertakes no obligation to publicly update or release any revisions to these forward-looking statements, except as required by law. These awards are valued based on certain key performance metrics. What's the Outlook for Intuitive Surgical? | The Motley Fool 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 . What's left to do from maybe a product or procedure or instrument point of view? Listen to Webcast. Pro forma operating expenses increased 24% compared with the second quarter of 2020 and increased 5% compared with last quarter. Capital placements for the first six months of 2021 were in line with procedure and utilization growth. We continue to see significant utilization variance by region due to pandemic differences. INTUITIVE SURGICAL, INC.-13.55%: 80 376: BOSTON SCIENTIFIC CORPORATION: 1.19%: 67 033: SIEMENS . That concludes our prepared comments. On the benign side, often the diagnostic pipelines are shorter. Thank you. And then has the elasticity relative to the extended use program and the pricing adjustments played out relative to your expectations? We've seen that in some OUS markets. (2021) Dropped off in 2022. 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. We expect pro forma other income, which is comprised mostly of interest income, to total between $50 million and $55 million in 2021. Phone: 408-523 . 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: constant currency revenue, 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. Jamie will provide spend guidance later in this call. With an initial focus on BPH, the company's AquaBeam Robotic System delivering Aquablation therapy, is the first FDA-cleared, automated surgical robot for the treatment of lower urinary tract symptoms (LUTS) due to benign prostatic hyperplasia (BPH). Intuitive Surgical Stock Nears $1,000 As The Covid Recovery Continues To choose Laparoscopy Surgical Robotic System and Consumables Market [2023-2030 The Motley Fool recommends the following options: long January 2022 $580 calls on Intuitive Surgical and short January 2022 $600 calls on Intuitive Surgical. 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 first question for me is just trying to dissect your procedure results a little bit more because some really interesting comments, that you saw strength in benign cases, some catch-up cases. Fourth quarter 2022 GAAP income from operations decreased to $373 million, compared with $450 million in the fourth quarter of 2021. Another third works closely with customers in the field, and the remaining third have traditionally worked in lab and office environments. 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 . Building a great robot is a hard first step. The Company defines non-GAAP EPS as non-GAAP net income attributable to Intuitive Surgical, Inc. divided by non-GAAP diluted shares, which are calculated as GAAP weighted-average outstanding shares plus dilutive potential shares outstanding during the period. Intuitive | ISRG for Investors Pagination. This MMR report includes investor recommendations based on a thorough examination of the Thoracic Surgery Market's contemporary competitive scenario. Find the latest Intuitive Surgical, Inc. (ISRG) stock quote, history, news and other vital information to help you with your stock trading and investing. They're giving their PowerPoints about what they think is going to happen next and some other things. 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. Revenues are anticipated to be about $1.55 . Second-quarter revenue reflected growth in both procedures and system placements. We're doing what we call the procedure development and the trial development around other indications, we think there'll be an opportunity in thoracic, as well as other ones beyond it. Montreal, Quebec, Canada. Field and marketing costs will tick up if the pandemic wanes. It's physically demanding. Buy These 2 Stocks in 2023 and Hold for the Next Decade, 2 Growth Stocks to Buy Before the Big Bull Rally, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. (4) Income tax expense includes the effect of the following items: One-time tax benefit from re-measurement of certain deferred tax assets, Discrete tax expense arising from the conclusion of a tax matter, Accounts payable and other accrued liabilities, Total liabilities and stockholders equity, Adjustments attributable to noncontrolling interest in joint venture. Mark the "Pitching to Investors Programme" on the 7th December 2022 in your calendar! Fourth quarter 2022 instruments and accessories revenue increased by 12% to $941 million, compared with $843 million in the fourth quarter of 2021. Senior Director-Finance & Investor Relations: Julian N. Nikolchev: Senior VP-Corporate Development & Strategy: Before we begin, I would like to inform you that comments mentioned on today's call may be deemed to contain forward-looking statements. Intuitive will hold a teleconference at 1:30 p.m. PST today to discuss the fourth quarter 2021 financial results. 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. (USD millions), considering 2021 as the base year . Good afternoon. I think that's anecdotal. Richard Wolf GmbH 10.6 . 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. And we're building into the broader digital ecosystem for SP. Conversion rates to open surgery were lower in the robotic group compared to the laparoscopic group, 0.6% as compared to 4.9%, and reoperation rates in the 30 days post procedure were comparable between robotic and laparoscopic and lower for robotic as compared to open, 0.6% as compared to 3.1%. Keep up-to-date with changes . Our SEC filings can be found through our website or at the SEC's website. Please go ahead, sir. Intuitive Surgical Stock Is Getting Close To Fair Value Product and brand names/logos are trademarks or registered trademarks of Intuitive Surgical or their respective owner. Procedure growth drives capital purchases in many of our markets. It's not just the robot. Non-GAAP gross profit, non-GAAP income from operations, non-GAAP net income attributable to Intuitive Surgical, Inc., and non-GAAP EPS exclude items such as amortization of intangible assets, SBC and long-term incentive plan expenses, excess tax benefits or deficiencies associated with SBC arrangements, and non-cash amortization of deferred tax assets related to intra-entity transfer of non-inventory assets, which are primarily recurring items. The Company defines non-GAAP EPS as non-GAAP net income attributable to Intuitive Surgical, Inc. divided by non-GAAP diluted shares, which are calculated as GAAP weighted-average outstanding shares plus dilutive potential shares outstanding during the period. Intuitive Surgical has been witnessing an upward estimate revision trend for 2021. Product and research reports and data presentation to medical specialists, sales force, new channels, investors. Hi, Gary. 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%. First, we are broadening access to our advanced instruments for our da Vinci Fourth Generation Multiport Systems through pursuit of additional clearances and launches outside the U.S. Second, we are expanding our da Vinci SP offering by broadening its regional and clinical indications and by adding it to its suite of instruments and accessories. You're developing, trying to increase efficiency, decrease costs, that kind of thing. Moving on to gross margin and operating expenses. Jamie, anything? The painful part is the investment troughs are deep in the early and middle years of those product cycles. Fourth quarter 2021 GAAP income from operations increased to $450million, compared with $416million in the fourth quarter of 2020. Turning to our innovation and commercialization efforts. In reporting the results, adjusted using a propensity weighted approach, the authors noted that during the two- to four-week standard of care visit period, fewer patients report the need to take prescription pain medication for the robotic cohort as compared to the laparoscopic and open cohorts: 65.2% for the robotic cohort as compared to 78.8% for the laparoscopic cohort, compared to 79.8% for the open cohort. Second-quarter 2021 OUS procedure growth was driven by growth in prostatectomy procedures and earlier-stage growth in kidney cancer procedures, general surgery, gynecology, and thoracic. The Company defines non-GAAP gross profit as gross profit, excluding intangible asset charges and SBC and long-term incentive plan expenses. Non-GAAP net income attributable to Intuitive Surgical, Inc. and EPS. Compound annual growth between the second quarters of 2019 and 2021 was 16.5%. It doesn't seem like the backlog would be exhausted just after one quarter. Please go ahead. Third, we are launching and refining our flexible diagnostic platform, Ion, by working with early customers to help establish high-performing sites and by improving our technology and supply chain capabilities. System placements in the quarter reflected procedure growth and hospitals upgrading to -- in order to access or standardize on fourth-generation capabilities. The stock movement pushed Intuitive . 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. The pandemic is not behind us, and additional infection growth may again strain hospital resources and impact our results in the future. Fourth quarter 2021 revenue was$1.55 billion, an increase of 17%compared with$1.33 billion in thefourth quarter of 2020. 2022 Proxy Statement 36.4 MB. Forward-looking statements relate to expectations concerning matters that are not historical facts. Cost basis and return based on previous market day close. Foreign currency fluctuations had a 3% unfavorable impact on fourth quarter 2022 revenue. Now, I'd turn the conference over to our host, Brian King, Head of Investor Relations for Intuitive Surgical. 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. Intuitive Surgical didn't offer an outlook for 2021. Some of them are included in our service contracts, some of them are on a per-use basis. It affirms that "RAS devices have been cleared for use in certain types of surgical procedures commonly performed in patients with cancer, such as hysterectomy, prostatectomy and colectomy. Later we will have a question-and-answer session. The fourth quarter 2021 system shipments included 143systems shipped under operating lease and usage-based arrangements, compared with 120 systems in thefourth quarter of 2020.

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