intuitive surgical investor presentation 2021 intuitive surgical investor presentation 2021

And our posture to that has been -- it may delay some sales as we may have some competitive conversations and tenders, and we'll lose some. With regard to income tax, we expect the range of our second-half 2021 pro forma tax rate to be between 21% and 22% of pre-tax income, slightly higher than the range we provided on the last call, reflecting a higher mix of U.S. income. 07/21/22 - 1:30 PM PDT. We did not repurchase any shares in the quarter. The Company ended the fourth quarter of 2022 with $6.74 billion in cash, cash equivalents, and investments, a decrease of $651 million during the quarter, primarily driven by share repurchases of $1 billion and capital expenditures, partially offset by cash generated from operations. The compound annual growth rate between the fourth quarter of 2019 and the fourth quarter of 2021 was 6%. I think that's anecdotal. 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. This growth rate compares with 9% last year and 8% last quarter. Good afternoon. The second reason to invest in Intuitive Surgical is its incredible profitability. In addition, COVID delayed some R&D work, resulting in underspend on prototypes. In the quarter, we completed a number of placements with larger IDNs that prefer to purchase rather than lease product. So I think all of you on the call, you should expect increased alternatives for the customer base. 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. 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. 20, 2021Corporate Participants: Philip Kim Head of Investor Relations. 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. We think we can bring some outstanding imaging capabilities, including florescence imaging into that space. 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. May 2021 - Present 1 year 10 months. Feb 2021 - Jun 2021 5 months Advised and supported life science entrepreneurs through market validation, regulatory, reimbursement, intellectual property, investor narrative, and talent . 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. It's hard to have a precise measure on it. your options for e-mail notification, please enter your e-mail address below and click 2021 : 2022 : 2021 : Revenue $ 12,789 $ 10,997 $ 45,520 $ 45,183 : Cost of goods sold : 3,986 . Fourth quarter 2022 GAAP income from operations included share-based compensation expense of $129 million, compared with $120 million in the fourth quarter of 2021. 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. . Yes. The Motley Fool owns shares of and recommends Intuitive Surgical. 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. The Companys calculated non-GAAP effective tax rate is generally higher than its GAAP effective tax rate. Travel and associated costs in support of our field have also not recovered to pre-pandemic levels. Now turning to the clinical side of our business. 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. Investor's Business Daily . The number we're watching closely is hospitalization. Dec 2017 - Aug 20213 years 9 months. . ET. 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. We also saw an increase in our IDN customers opening new da Vinci and Ion programs in hospitals within their network that did not previously have an Intuitive robotics program, indicating their interest in diversifying access to Intuitive programs across their networks. We heard your comments, but just kind of thinking a little bit longer-term than just the next couple of quarters. As I believe that focusing on patient-centered strategies combined with leveraging data for research can help to improve the diagnosis, treatment, and prevention of diseases.<br><br>Patient-centered: I'm raising the bar on patient . I think the noise levels will go up. Intuitive will hold a teleconference at 1:30 p.m. PDT today to discuss the fourth quarter 2022 financial results. Senior Director-Finance & Investor Relations: Julian N. Nikolchev: Senior VP-Corporate Development & Strategy: The Motley Fool owns shares of and recommends Intuitive Surgical. Marshall L. Mohr Executive Vice President and Chief Financial Officer. Next, we go over to Larry Beigelsen with Wells Fargo. User Experience for digital health innovations:<br>I work with startups and corporations and design user-centered products, services, and digital business models. The compound annual growth rate between the fourth quarter of 2019 and the fourth quarter of 2021 was 12%. Even then, it's not enough. We continue to operate in a challenging supply chain environment and have experienced longer lead times and delayed deliveries from our suppliers. The call will be webcast by Nasdaq OMX and can be accessed on Intuitives website at www.intuitive.com or by dialing (877) 692-8955 using the access code 5830756. 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. Mehr Brsen-Nachrichten . Investors are cautioned not to place undue reliance on such forward-looking statements. And basically, still underpenetrated, big opportunity. Non-GAAP gross profit. 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. Intuitive 360 is an annual conference for executive, clinical, and operational leadership focusing on robotic service line development and the surgical care team. Intuitive Surgical's adjusted net . 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. First cases in our SP colorectal IDE trial were completed in the quarter as we seek to bring SP capability to additional procedures. COVID-19 has had, and will likely continue to have, an adverse impact on the Companys procedure volumes. 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. INTUITIVE SURGICAL, INC.UNAUDITED QUARTERLY CONDENSED CONSOLIDATED STATEMENTS OF INCOME(IN MILLIONS, EXCEPT PER SHARE DATA), INTUITIVE SURGICAL, INC.UNAUDITED TWELVE MONTHS ENDED CONDENSED CONSOLIDATED STATEMENTS OF INCOME(IN MILLIONS, EXCEPT PER SHARE DATA), INTUITIVE SURGICAL, INC.UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(IN MILLIONS), INTUITIVE SURGICAL, INC.UNAUDITED RECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES(IN MILLIONS, EXCEPT PER SHARE DATA), Contact: Investor Relations(408) 523-2161. The next page will display a menu of options. 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. Intuitive Surgical, Inc. engages in the development, manufacture, and marketing of da Vinci Surgical Systems, and related instruments and accessories for . 2021 Intuitive Sustainability Report 7.8 MB. 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? 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. 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. 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. To change your e-mail options at Follow Allison Gatlin on Twitter at @IBD_AGatlin . This article is a transcript of this conference call produced for The Motley Fool. We've seen that in some OUS markets. I think we're going to have to let it play for another few quarters to see. 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. 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 10.5. To choose All Rights Reserved. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release and 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 December31, 2021, and the Companys Quarterly report on Form 10-Q for the quarter ended September 30, 2022, as updated by the Companys other filings with the Securities and Exchange Commission. And recently, we've had a series of very encouraging conversations on the adoption of bariatrics, very encouraging. So our customers are asking us for advanced instrumentation. We know that new system placements are closely tied to anticipated procedure volumes and system utilization in mature markets. That impact was most pronounced in the U.S. and Europe, varied market to market, complicating year-over-year comparisons. An investor who invested $10,000 in Warren Buffett's hedge fund at the beginning of 1957 saw his capital turn into $103,000 before fees and $64,100 after fees (this means Warren Buffett made . And we're pleased. Trade-in activity can fluctuate and be difficult to predict. We continue to see significant utilization variance by region due to pandemic differences. Excellent communication and presentation skills. as can be seen with the more than 29,000 peer-reviewed scientific articles that reference Intuitive technologies. Lease buyout revenue has varied significantly quarter to quarter and will likely continue to do so. Leasing as a percentage of total sales lag has and will continue to fluctuate with customer and geographic mix. 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. We are in the execution and launch phase of four efforts. I think they are ecosystem enablers and can result in very high customer satisfaction when done well. Good afternoon. Total second-quarter revenue was $1.464 billion, representing a 72% increase from last year and a 13% increase from last quarter. Through ingenuity and intelligent technology, we expand the potential of physicians to heal without constraints. Health . We placed an additional 20 Ion systems in the quarter, bringing the installed base to 70. . Customer appreciation and recurring use of our products has been growing nicely. Good afternoon, and welcome to Intuitive's second-quarter earnings conference call. COVID-19 has had, and may continue to have, an adverse impact on the Companys procedure volumes. 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. Intuitive Surgical Investor Presentation. Transitory was out a few years ago and CMR has been out and now Medtronic. Montreal, Quebec, Canada. INTUITIVE SURGICAL, INC.-13.55%: 80 376: BOSTON SCIENTIFIC CORPORATION: 1.19%: 67 033: SIEMENS . Of those patients, 43% were in the da Vinci robotic cohort, 35% in the laparoscopic cohort, and 22% in the open cohort. These awards are valued based on certain key performance metrics. And that is both painful and an opportunity. 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. Supporting investors, corporations, start-ups, and academic research labs. During the second half of 2022, the Company saw COVID-19 resurgences impact da Vinci procedure volumes in China. Doctors talking to us about further expansion of utilization. Intuitive Surgical (ISRG 0.58%) Q3 2021 Earnings Call Oct 19, 2021, 4:30 p.m. But I don't have scientific evidence. Starting with procedures. We expect spending on activities restricted by COVID to increase as the impacts of the pandemic decline. The difference in the number of subjects reporting the need for prescription pain medication favored the robotic-assisted group in both comparisons." OK. That's helpful. Next, we're going to the line of Rick Wise with Stifel. Submit. So from a core demand point of view or disease state, that's clearly out there and accumulating, and it has to get processed through. 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. The Motley Fool has a disclosure policy. 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. SBC expense has been, and will continue to be for the foreseeable future, a significant recurring expense in the Companys business. Lockdowns decrease patient mobility and willingness to go get their tests and then hospitalization diminishes ICU capacity. During 2022, the impact of the COVID-19 pandemic on the Companys business has differed by geography and region. Intuitive Surgical's adjusted net income of $435 million in Q3 2021 reflected a good 30% rise from its $334 million figure in the prior-year quarter. Yes, Tycho. There are several models of the da Vinci Surgical System. Jan 2023 - Present3 months. The Company undertakes no obligation to publicly update or release any revisions to these forward-looking statements, except as required by law. ISRG stock analysts called for adjusted profit of $13.40 per share and $5.33 billion in sales. Tycho Peterson -- JPMorgan Chase & Co. -- Analyst. The Company defines non-GAAP gross profit as gross profit, excluding amortization of intangible assets and SBC and long-term incentive plan expenses. Affiliated with the world's largest international neurotechnology community, NeurotechX, with 18,000+ members .