intuitive surgical investor presentation 2021

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. The Companys calculated non-GAAP effective tax rate is generally higher than its GAAP effective tax rate. To change your e-mail options at 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. The Company ended the fourth quarter of 2022 with $6.74 billion in cash, cash equivalents, and investments, a decrease of $651 . Non-GAAP income from operations. Additional revenue statistics and trends are as follows. Based in Sunnyvale, California. Intuitive Announces Fourth Quarter Earnings, Less: net income attributable to noncontrolling interest in joint venture. Each quarter on these calls, we highlight certain recently published studies that we deem to be notable. That's right -- theythink these 10stocks are even better buys. It's physically demanding. The year-over-year increase in I&A revenue per procedure reflects increased usage of our advanced instruments, partially offset by the impact of extended use instruments. 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. EMCOR Group, Inc. (NYSE:EME) Q4 2022 Earnings Call Transcript Submit. Current quarter system placements included 63 into Europe, 16 into Japan, and 19 into China, compared with 18 into Europe, 18 into Japan, and 21 into China in the second quarter of 2020. And we've received feedback -- positive feedback from surgeons who have indicated that system access has been a key driver for increased procedures. Intuitive Announces Fourth Quarter Earnings, Intuitive Announces Preliminary Fourth Quarter and Full Year 2022 Results, Intuitive becomes largest robotic-assisted surgery provider to be accredited by the Royal College of Surgeons of England, Q4 2022 INTUITIVE Earnings Conference Call, INTUITIVE at J.P. Morgan Healthcare Conference, J.P. Morgan Healthcare Conference 2023 Presentation, Q3 2022 INTUITIVE Earnings Conference Call. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. There are several models of the da Vinci Surgical System. Listen to Webcast. The painful part is the investment troughs are deep in the early and middle years of those product cycles. This presentation contains forward-looking statements. Intuitive | ISRG for Investors Tuesday, October 18, 2022 4:30 PM EDT . Intuitive Surgical didn't offer an outlook for 2021. Revenues are anticipated to be about $1.55 . While the percentage of systems placed under operating leases fluctuates quarter to quarter, we believe leasing will increase as a percentage of sales over time, which will result in the deferral of otherwise current revenue into future periods. Turning to gross profit. You may automatically receive Intuitive Surgical financial information by e-mail. 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. And there's a lot of opportunities for OR efficiencies and standardization, controlling operating costs, controlling consumables costs. Invest better with The Motley Fool. Second-quarter 2021 procedures increased approximately 68% compared with the second quarter of 2020 and increased approximately 13% compared with last quarter. And so we watch that number because we know it's highly sensitive. your options for e-mail notification, please enter your e-mail address below and click It's the impact on hospitalizations. There are a number of limitations related to the use of non-GAAP measures versus measures calculated in accordance with GAAP. On the benign side, often the diagnostic pipelines are shorter. So right now, we talked in the script about adding our work or IDE around colorectal, we're excited about that. Newsroom | Intuitive | Robotic Surgery Company - Intuitive Surgical We are in the execution and launch phase of four efforts. See www.intuitive.com/trademarks. 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. I think that would be a mistake. Intuitive Surgical (ISRG-0.90%) investors who weren't expecting it to perform a three-for-one stock split recently woke up to what looked like an overnight loss of more than 60%. COVID-19 has had, and will likely continue to have, an adverse impact on the Companys procedure volumes. And I think for a subset of the benign procedures that have been kind of deferred elective procedures, hospitals can recover those pretty quickly. 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. Intuitive Surgical, Inc. (Nasdaq:ISRG), headquartered in Sunnyvale, Calif., is the pioneer and a global technology leader in robotic-assisted, minimally invasive surgery. 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. Intuitive (Nasdaq: ISRG), headquartered in Sunnyvale, California, is a global leader in minimally invasive care and the pioneer of robotic surgery. The Company's da Vinci Surgical System offers surgeons superior visualization, enhanced dexterity, greater precision and ergonomic comfort for the optimal performance of MIS. I'll maybe start with Marshall on the first one and then go to Gary for the second one. Or is this simply and primarily just something about the pandemic accelerating the use of da Vinci and robotics surgery broadly? So when we talk about My Intuitive, that really is putting the power of interaction and data at the surgeon level in their hands or at the robotics coordinator level in their hands. 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. . These non-GAAP financial measures also facilitate managements internal comparisons to its historical performance. Amy C. - Director of Clinical and Commercial Operations - Bertis Fourth quarter 2022 systems revenue decreased by 4% to $451 million, compared with $470 million in the fourth quarter of 2021. We placed 20 Ion systems in the quarter, bringing the installed base to 70 systems. And just, you know, on competition, it does seem like the noise is increasing. (2) Selling, general and administrative 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, Gains on strategic investments, net of tax, Accounts payable and other accrued liabilities, Total liabilities and stockholders equity, Adjustments attributable to noncontrolling interest in joint venture. 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. The Company defines non-GAAP gross profit as gross profit, excluding amortization of intangible assets and SBC and long-term incentive plan expenses. Recovery in the U.K. was healthy in the quarter as NHS increased access to surgeries broadly. Bob Hopkins -- Bank of America Merrill Lynch -- Analyst. And sequential growth in what they can do with the system remains our focus on SP for now. These non-GAAP financial measures also facilitate managements internal comparisons to its historical performance. Frankly, the lack of precision in that estimate is such that it's probably not useful for us to share. INTUITIVE at 2022 Wells Fargo Healthcare Conference. Now turning to the clinical side of our business. 2021 Intuitive Surgical Inc - - USD 2020 Intuitive Surgical Inc . OK. And then just one quick follow-up. Fourth quarter 2022 GAAP income from operations also included litigation charges of $21million. The Company uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Anna Stefani - HES Project Manager - Alira Health | LinkedIn Fourth quarter 2021 GAAP net income attributable to Intuitive Surgical, Inc. was $381million, or $1.04 per diluted share, compared with $365million, or $1.01 per diluted share, in the fourth quarter of 2020. 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. 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? I will also summarize our GAAP performance later in my prepared remarks. The Company ended the fourth quarter of 2021 with $8.6 billion in cash, cash equivalents, and investments, an increase of $400million during the quarter, primarily driven by cash generated from operations. Clinical Specialist - Chicago, IL Job in Chicago, IL at PROCEPT BioRobotics Our actual gross profit margin will vary quarter to quarter depending largely on product, regional, and trade-in mix, the impact of product cost reductions, and manufacturing efficiencies and pricing pressure. The Company grew its da Vinci Surgical System installed base to 6,730 systems as of, Fourth quarter 2021 GAAP net income attributable to Intuitive was $381million, or, Fourth quarter 2021 non-GAAP* net income attributable to Intuitive was. Just in 2021 there were more than . The Company 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. Jamie will provide spend guidance later in this call. Thanks for taking the question. However, to gain a more complete understanding of the body of evidence, we encourage all stakeholders to thoroughly review the extensive detail of scientific studies that have been published over the years. From a U.S. perspective, I think it's early, and I think we're simply acknowledging the risk. 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. 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. The compound annual growth rate between the second quarter of 2019 and the second quarter of 2021 was 16.5%. 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. Even then, it's not enough. 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. I think that when you think about our product cycles, I would just have you look back earlier in the da Vinci experience in that these are long development cycles. 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? And then on a two-year compounded basis, you're kind of where you thought you might be pre pandemic. Fourth quarter 2021 revenue was$1.55 billion, an increase of 17%compared with$1.33 billion in thefourth quarter of 2020. Mai 2022: CI. Making the world smarter, happier, and richer. 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 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. We look forward to talking with you again in three months. The authors concluded in part, "When compared to open, the robotic-assisted surgery group is associated with a comparable operative time, shorter length of stay and lower reoperation rate through 30 days. The system features an ultra-thin, ultra-maneuverable catheter that allows navigation far into the peripheral lung and provides the unprecedented stability necessary for precision in biopsy. 2021 Intuitive Sustainability Report 7.8 MB. We also expect spending to increase as a percentage of revenue as investments in headcount, infrastructure, and other support areas catch up to the growth in the business. We don't actually know how much backlog was resolved in the quarter, how much backlog is left or the timing of the recovery of that might be. And the capital to support that demand has not run ahead of the procedure demand. Our pro forma effective tax rate for the second quarter was approximately 25%. 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. OK. Well, thank you, and our moderator, that was our last question. Marshall L. Mohr Executive Vice President and Chief Financial Officer.

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