intuitive surgical investor presentation 2021

There are no upcoming events available at this time. Montreal, Quebec, Canada. It flows from respect for and understanding of patients and care teams, their needs, and their environment. any time, re-enter your e-mail address and click Submit, then adjust your form entries. Listen to Webcast. In May of this year, Dr. Karl LeBlanc from our Lady of the Lake Medical Center in Baton Rouge, Louisiana, published results from a multi-center study comparing short-term outcomes for incisional hernia, published in the Hernia Journal entitled Robotic-Assisted Laparoscopic and Open Incisional Hernia Repair: Early Outcomes from the Prospective Hernia study. Yes. We also -- the business came back faster than we had anticipated. So it's not a scientific study, just my view. 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. 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. China continued the strength that we've seen over the last couple of quarters. Visit www.intuitive.com/en-us/products-and-services/ion. This MMR report includes investor recommendations based on a thorough examination of the Thoracic Surgery Market's contemporary competitive scenario. The Company grew its da Vinci Surgical System installed base to 7,544 systems as of, Fourth quarter 2022 GAAP net income attributable to Intuitive was, Fourth quarter 2022 non-GAAP* net income attributable to Intuitive was. Through ingenuity and intelligent technology, we expand the potential of physicians to heal without constraints. These system-controlled staplers, vessel sealers, and energy instruments support a range of procedures from bariatrics to colorectal procedures, to thoracic and gynecologic applications. Go ahead, Mr. Hopkins. Thank you. Our rollout of Ion will continue to be measured while we optimize training pathways in our supply chain. I will describe the highlights of our performance on a non-GAAP or pro forma basis. Fourth quarter 2021 GAAP income from operations increased to $450million, compared with $416million in the fourth quarter of 2020. Jan 2023 - Present3 months. 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 . 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. To choose Just in terms of intra-quarter procedure trends, if you're asking, Larry, month by month, there was nothing notable actually that we would call out. The Company placed 369 da Vinci Surgical Systems, a decrease of 4% compared with 385 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. Product and research reports and data presentation to medical specialists, sales force, new channels, investors. The Companys calculated non-GAAP effective tax rate is generally higher than its GAAP effective tax rate. Fourth quarter 2021 revenue was$1.55 billion, an increase of 17%compared with$1.33 billion in thefourth quarter of 2020. Just a couple of comments. So it's hard to time it out, and it doesn't time out over one or two quarters, it times out over years. 5001-10,000 Employees. So good morning, everyone, and welcome to Medistim's Fourth Quarter Presentation for 2022. Affiliated with the world's largest international neurotechnology community, NeurotechX, with 18,000+ members . Jamie Samath -- Senior Vice President of Finance. Frankly, the lack of precision in that estimate is such that it's probably not useful for us to share. We expect these programs to continue their ramp as our labs and development programs recover efficiency. We also note the increasing number of COVID-19 cases in certain geographies associated with the Delta variant. 2022 Proxy Statement 36.4 MB. 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. The Motley Fool recommends the following options: long January 2022 $580 calls on Intuitive Surgical and short January 2022 $600 calls on Intuitive Surgical. 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. Where are we going with this one? Tuesday, October 18, 2022 4:30 PM EDT . Intuitive Surgical Investor Presentation. Please go ahead. The Company defines non-GAAP income from operations as income from operations, excluding amortization of intangible assets, SBC and long-term incentive plan expenses, litigation charges and recoveries, and a gain on the sale of a business. These non-GAAP financial measures also facilitate managements internal comparisons to its historical performance. Moving on to gross margin and operating expenses. On a constant currency basis, fourth quarter 2022 revenue increased 10% compared to the fourth quarter of 2021. 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. It last split in October of 2017. I think that's anecdotal. Fourth quarter 2022 revenue was$1.66 billion, an increase of 7%compared with$1.55 billion in thefourth quarter of 2021. Marshall, the operating margin coming in at the 43%, I'm just wondering how much we can extrapolate here? And we expect those to come back as COVID goes away and the restrictions on travel and the restrictions on other activities go away. The Company shipped 385 da Vinci Surgical Systems in the fourth quarter of 2021, compared with 326 systems . Yes. Finally, we are strengthening our digital capabilities across our ecosystem. We are refining our estimate and expect our full-year pro forma operating expense growth to be between 17% and 21%. 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. 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. Both gynecology and urology procedure annualized growth strengthened in the quarter, as pandemic pressures eased in the U.S. 06/14/22 - 1:20 PM PDT. 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. Reported revenue and procedure results are consistent with the Companys press release issued on January 12, 2022. 07/21/22 - 1:30 PM PDT. Phone: 408-523 . 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 expanded our installed base of da Vinci Systems over the last year by 10% to approximately 6,335 systems. 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. . Just on the recent spread of COVID and variants and the potential impact on demand and hospitals' ability to do procedures, are you starting to see that impact now? Our focus is in clinical capability and productivity of the installed base we have. 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. After all, the newsletter theyhave run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. In closing, we continue to believe there is a substantial and durable opportunity to fundamentally improve surgery and acute interventions. The supply issues we called out in the first quarter did not impact Ion placements and procedures in this quarter. Forward-looking statements relate to expectations concerning matters that are not historical facts. 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 next page will display a menu of options. The compound annual growth rate between the fourth quarter of 2019 and the fourth quarter of 2021 was 10%. Ladies and gentlemen, thank you for standing by and welcome to the Intuitive Q4 2021 Earnings Release Call. Field and marketing costs will tick up if the pandemic wanes. All Rights Reserved. INTUITIVE at 2022 Wells Fargo Healthcare Conference. To choose These awards were modified in the fourth quarter of 2021 and are now valued based on certain key performance metrics. On the benign side, often the diagnostic pipelines are shorter. We've seen a few teams come out and field systems that are alternatives to ours. And I kind of articulated what those were, travel and so forth. The compound annual growth rate between the full year of 2019 and the full year of 2021 was approximately 12%. Da Vinci systems offer surgeons high-definition 3D vision, a magnified view, and robotic and computer assistance. Intuitive will hold a teleconference at 1:30 p.m. PDT today to discuss the fourth quarter 2022 financial results. Fourth quarter 2022 instruments and accessories revenue increased by 12% to $941 million, compared with $843 million in the fourth quarter of 2021. All of that, to me, indicates that the business feels in balance. In Q2, U.S. procedures grew 77% year over year, which equates to 16% on a two-year compound annual growth rate basis. . The compound annual growth rate between the fourth quarter of 2019 and the fourth quarter of 2021 was 6%. These awards are valued based on certain key performance metrics. 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. Turning to gross profit. Additional revenue statistics and trends are as follows. In Q2, we launched our SureForm stapling line in India. That low end also reflects some impact of a resurgence in the U.S. Fourth quarter 2021 systems revenue increased by 28% to $470million, compared with $367million in the fourth quarter of 2020. Copyright 2023 Intuitive Surgical. Fourth quarter 2022 GAAP income from operations also included litigation charges of $21million. Thoracic Surgery Market was valued at USD 3.1 Billion in 2021, and it is expected to reach a CAGR of 7.18 % . Copyright 2023 Intuitive Surgical. To the extent that hospitalizations expand significantly due to COVID and its variants, like currently being experienced in parts of the world, it could negatively impact da Vinci procedures. Our pro forma spending grew over 24% from a year ago, representing increased investment in our business. Jamie, I'll let you take it from there. These forward-looking statements are necessarily estimates reflecting the judgment of the Companys management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. European procedure growth was generally healthy, though varied by country. OK. That's helpful. So several of those things are in the markets, the very first kind of Gen 1, some of them are on Gen 2. any time, re-enter your e-mail address and click Submit, then adjust your form entries. An accomplished communicator seeking opportunities in Ottawa, with a proven ability to multitask under high-pressure situations to meet deadlines. INTUITIVE at 2022 Wells Fargo Healthcare Conference. Mark the "Pitching to Investors Programme" on the 7th December 2022 in your calendar! OK. Well, thank you, and our moderator, that was our last question. We could see one large competitor approved in the second half of this year. China procedure growth remains strong and broad-based as a result of continued expansion of the installed base under the current quota. 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. Intuitive Surgical (ISRG 0.58%) Q3 2021 Earnings Call Oct 19, 2021, 4:30 p.m. Submit. And I suspect that's most of what we're seeing, at least in the United States in terms of that. The rise in earnings was driven by higher . Our focus right now is not rapid expansion of the installed base. Thanks. Bob Hopkins -- Bank of America Merrill Lynch -- Analyst. So energy and stapling and other things, we think that is possible. I think all of us know, and we, as consumers know that customers like choice, perfectly fair. From a market perspective, about 60%-ish or so are sleeves, about 15% are revisions. Customer appreciation and recurring use of our products has been growing nicely. I think we're going to have to let it play for another few quarters to see. 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. Thanks. I'll maybe start with Marshall on the first one and then go to Gary for the second one. 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. 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. 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. 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. In the U.S., as COVID continued to subside in the second quarter of 2021, we saw a lower impact on da Vinci procedures. [Inaudible] on a nice quarter. So I apologize for the short-term-oriented question, but you're the first large-cap company to report here. 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. The da Vinci surgical systems are designed to help surgeons perform minimally invasive surgery. You may automatically receive Intuitive Surgical financial information by e-mail. And so we watch that number because we know it's highly sensitive. Now that the dust . 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 . It links into some of the other things you're talking about. Today's press release and supplementary financial data tables have been posted to our website. Building a great robot is a hard first step. I will now turn to our financial outlook for 2021. That concludes our prepared comments. Larry Biegelsen -- Wells Fargo Securities -- Analyst. 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. You may automatically receive Intuitive Surgical financial information by e-mail. Phone: 408-523-2161 Thank you. 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. Full Time Faculty & Clinical Coordinator, Surgical Technologist Program Ask us about our $5,000 Sign on Bonus Rasmussen University Rasmussen University is seeking an experienced Surgical Technologist passionate about taking their own experience and translating that into helping students succeed in meeting their educational and professional goals. Now turning to the clinical side of our business. So we're making those investments to move that forward. Obviously, you made some comments about variance and not factoring in kind of an increase. General surgery growth in the U.S. was strong, and in addition to the positive impact from patient backlogs, reflected increasing access for surgeons to our fourth-generation technology. 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. I mean, how do you know there was catch-up from the backlog in Q2? Our digital learning programs continue to be an important part of our overall learning initiatives. Good afternoon. 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. In other words, happy, very satisfied customers. 10 stocks we like better thanIntuitive SurgicalWhen our award-winning analyst team hasa stock tip, it can pay to listen. 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.

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