intuitive surgical investor presentation 2021

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intuitive surgical investor presentation 2021delgado family name origin

I mean, how do you know there was catch-up from the backlog in Q2? Please go ahead, sir. 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 December31, 2021. Minimum 15 minutes delayed. 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. While there continues to be COVID hotspots within some of our Asia Pacific markets, overall procedures in the region performed well. Capital placements for the first six months of 2021 were in line with procedure and utilization growth. It has been. So we don't really call them out as individual revenue lines. 10 stocks we like better thanIntuitive SurgicalWhen our award-winning analyst team hasa stock tip, it can pay to listen. It also reflects lower diagnostic pipelines and perhaps some reluctance for patients to visit hospitals. Submit. All Rights Reserved. Intuitive Surgical | ISRG Stock Price, Company Overview & News - Forbes Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. And those two things come together, they also allow hospitals to start to address the backlog that's accumulated. Investors are cautioned not to place undue reliance on such forward-looking statements. May 2021 - Present 1 year 10 months. Phone: 408-523-2161 Intuitive | ISRG in the News And I have one follow-up. We have continued the launch of our My Intuitive app, including launching to first users in Europe. So here's kind of where we stand with the backlog. 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. Yes. Gary S. Guthart Chief Executive Officer, Member of the Board of Directors. And so we see that as a benefit also with respect to feedback from surgeons. Intuitive Surgical didn't offer an outlook for 2021. Our fully integrated advanced instruments portfolio has been a strong addition to our multiport ecosystem, allowing for high-quality tissue interaction controlled from the surgeon's console while optimizing workflow. The Company undertakes no obligation to publicly update or release any revisions to these forward-looking statements, except as required by law. Most of our offices globally are reopening with this hybrid approach. So be curious to hear from you on any procedure trends through the quarter in the U.S. and international. Why Intuitive Surgical's Share Slump Is a Gift for Investors 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. 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. 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. Affiliated with the world's largest international neurotechnology community, NeurotechX, with 18,000+ members . We think there is an opportunity to accelerate learning and to drive increased insight for a surgeon into their own progress. Intuitive Surgical -Export management Iqm selezione - 07.2021 . Intuitive Surgical's adjusted net . During 2022, the impact of the COVID-19 pandemic on the Companys business has differed by geography and region. At the time you receive a -- by the time you're at -- that market penetration rates that are significant. . Where are we going with this one? . Some of them are included in our service contracts, some of them are on a per-use basis. At Intuitive, we envision a future of care that is less invasive and profoundly better, where diseases are identified early and treated quickly, so patients can get back to what matters most. Fourth quarter 2022 instruments and accessories revenue increased by 12% to $941 million, compared with $843 million in the fourth quarter of 2021. The Company shipped 385 da Vinci Surgical Systems in the fourth quarter of 2021, compared with 326 systems in the fourth quarter of 2020. Our second-quarter pro forma net income was $477 million or $3.92 per share, compared with $132 million or $1.11 per share for the second quarter of 2020 and $427 million or $3.52 per share for the last quarter. Our pro forma spending grew over 24% from a year ago, representing increased investment in our business. Hong Kong. The non-GAAP* measures are described below and are reconciled to the corresponding GAAP measures at the end of this release. In the U.S. and Europe, extended use instruments were nearly fully adopted in the second quarter. As customers continue to upgrade to fourth-generation capabilities, the population of installed SIs is decreasing, particularly in the U.S. were 110 trade-ins were completed in the second quarter, leaving an installed base of SIs of approximately 500 systems. Submit. You may automatically receive Intuitive Surgical financial information by e-mail. Intuitive Announces Preliminary Fourth Quarter and Full Year 2021 Results. The compound annual growth rate between the second quarter of 2019 and the second quarter of 2021 was 16.5%. Is Intuitive Surgical Stock Still Worth Buying Hand Over Fist in 2023? So that's a multi-quarter conversation. It's physically demanding. During 2020, da Vinci procedure volumes and system placements were significantly impacted by the COVID-19 pandemic, as healthcare systems around the world diverted resources to respond to COVID-19. The increase in cash in the second quarter primarily reflected cash from operations and stock exercises. 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. Fourth quarter 2022 constant currency revenue increased 10% compared to the fourth quarter of 2021. You may automatically receive Intuitive Surgical financial information by e-mail. In Q2, U.S. procedures grew 77% year over year, which equates to 16% on a two-year compound annual growth rate basis. 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. . We anticipate iterating our approach as we learn and the year progresses. We placed an additional 20 Ion systems in the quarter, bringing the installed base to 70. You've got COVID. 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've seen that in some OUS markets. Next, we go over to Larry Beigelsen with Wells Fargo. Thanks, Tycho. I've had the privilege of seeing Intuitive develop the use of robotics in multiple clinical indications over the years. A reconciliation between our pro forma and GAAP results is posted on our website. Both gynecology and urology procedure annualized growth strengthened in the quarter, as pandemic pressures eased in the U.S. And so I think you're going to see this quarter was extraordinary in terms of the operating profit margin and that we'll -- it will be lower in future quarters, given what I just described. 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. They're giving their PowerPoints about what they think is going to happen next and some other things. 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. And we're pleased. Intuitive Surgical (ISRG) Posts Robust Preliminary Q4 Results And we think that the extended use instruments lowers barriers for purchases of systems. 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 Company uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Lastly, we continue to digitally enhance our ecosystem. 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. Total second-quarter revenue was $1.464 billion, representing a 72% increase from last year and a 13% increase from last quarter. OUS markets grew 51% year over year or 19% on a two-year compound annual growth rate basis. 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. Finally, we expect to continue to invest in expanding and accelerating our ecosystem of products and capabilities. The second reason to invest in Intuitive Surgical is its incredible profitability. There was the usual impact of seasonality from vacations like Easter, but nothing notable within the quarter. OK. Well, thank you, and our moderator, that was our last question. Learn More, Intuitive Surgical(ISRG 2.61%)Q22021 Earnings CallJul 20, 2021, 4:30 p.m. Marshall will take you through our financial picture later in the call. The Safety Communication issued on August 20, 2021 by the FDA, is specific to the use and study of robotic-assisted surgery in mastectomy. 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. Follow Allison Gatlin on Twitter at @IBD_AGatlin . Good afternoon, and welcome to Intuitive's second-quarter earnings conference call. So those are the drivers we watch. Montreal, Quebec, Canada. Jamie, anything? INTUITIVE SURGICAL, INC.-13.55%: 80 376: BOSTON SCIENTIFIC CORPORATION: 1.19%: 67 033: SIEMENS . Compound annual growth between the second quarters of 2019 and 2021 was 16.5%. Just to be clear on your answer to Tycho's question. To choose your options for e-mail notification, please enter your e-mail address below and click Submit . BSD Medical Corporation Medtronic Ethicon Endo-Surgery Olympus Corporation Siemens Healthcare Intuitive Surgical . Outside the U.S., we placed 115 systems in the second quarter, compared with 72 in the second quarter of 2020 and 108 systems last quarter. Rick Wise -- Stifel Financial Corp. -- Analyst. These system-controlled staplers, vessel sealers, and energy instruments support a range of procedures from bariatrics to colorectal procedures, to thoracic and gynecologic applications. Intuitive has managed multiple ways of working for many years. We are in the execution and launch phase of four efforts. What's the Outlook for Intuitive Surgical? | The Motley Fool 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 at 2022 Wells Fargo Healthcare Conference. The adjustments between pro forma and GAAP net income are outlined and quantified on our website. Leasing and alternative financing arrangements enable customer access to capital. COVID-19 has had, and may continue to have, an adverse impact on the Companys procedure volumes. There are a number of limitations related to the use of non-GAAP measures versus measures calculated in accordance with GAAP. 10/08/22 - 11:00 AM EDT. [Inaudible] on a nice quarter. 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. The next page will display a menu of options. Intuitive Surgical Inc. (ISRG) Q4 2021 Earnings Call Transcript Mai 2022: CI. 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. It's a short period, but we believe that there is elasticity, and we've seen elasticity in markets where reimbursements are very low. Intuitive Surgical, Inc. (ISRG) - Yahoo Finance We are building tools and capabilities that allow hospital departments and departments of surgery to manage their program and look across programmatics for efficiency, for learning, for outcomes, and these things interlink. Please go ahead. See www.intuitive.com/trademarks. 10/08/22 - 11:00 AM EDT. In other words, happy, very satisfied customers. In the U.S., as COVID continued to subside in the second quarter of 2021, we saw a lower impact on da Vinci procedures. That's right -- theythink these 10stocks are even better buys. As part of our mission, we believe that minimally invasive care is life-enhancing care. Larry Biegelsen -- Wells Fargo Securities -- Analyst. Bob Hopkins -- Bank of America Merrill Lynch -- Analyst. Intuitive develops, manufactures and markets the da Vinci surgical system. 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. . Leasing represented 33% of current quarter placements, compared with 29% last year and 43% last quarter. 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. Marshall L. Mohr Executive Vice President and Chief Financial Officer. And we're building into the broader digital ecosystem for SP. And I think you've alluded to adding additional instruments and accessories, so can you talk on the hardware side as well? Good afternoon, everybody. 06/14/22 - 1:20 PM PDT. 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. Procedures recovered nicely in Q2. We are also working on our regulatory filings to bring SP to Europe under the European Union's new medical device regulation framework. Intuitive Surgical, Inc. engages in the development, manufacture, and marketing of da Vinci Surgical Systems, and related instruments and accessories for . 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. However, we anticipate more customers will seek leasing or alternative financing arrangements than reflected in historical run rates. Feb 2021 - Jun 2021 5 months Advised and supported life science entrepreneurs through market validation, regulatory, reimbursement, intellectual property, investor narrative, and talent . A couple of things. 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 calculates constant currency revenue by translating current period revenue using prior period exchange rates. Minimally Invasive Care | About Us | Intuitive - Intuitive Surgical 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. 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. Growth in the U.K. was strong, with a slower recovery in France, Italy, and Germany. That will play out over the next several quarters as we accrue patients. Listen to Webcast. The trade-in cycle has been a tailwind to system placements. (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. Jan 2023 - Present3 months. Frankly, the lack of precision in that estimate is such that it's probably not useful for us to share. 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%. Looking at the past eight quarters in context, our compound annual growth rate for procedures for the period Q2 2019 through Q2 2021 of 16.5% is approximately the growth we would have expected absent the pandemic. In the second quarter, we modified the useful life of a deferred-tax asset, which resulted in a current charge to pro forma income. 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. And Jamie, as to kind of where we are. Contact Information. ISRG Stock | News | INTUITIVE SURGICAL Stock Price Today | Analyst [Operator Instructions] As a reminder, today's call is being recorded. 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? We're OK. We're not frightened of that. 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. 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. In the U.S., Q2 procedure results were positively impacted by a continuing recovery from COVID-19, including, we believe, a number of procedures that had been previously deferred. I think our customers will take their time to evaluate new things as they go. Richard Wolf GmbH 10.6 . The pandemic has reordered the quarter in which procedures were performed, and we believe it has delayed some procedures that are likely to return in the future and may cause a small number of patients to permanently forgo surgery. We expect spending on activities restricted by COVID to increase as the impacts of the pandemic decline. Laparoscopy Surgical Robotic System and Consumables Market [2023-2030 All Rights Reserved. That said, other teams are out. So I'd encourage those folks on the call, it's likely to be a comparison of ecosystems in delivering the Quad Aim over time. Or any color you can provide on that? Yasmeen Hmaidan - Student Researcher - MIT Media Lab | LinkedIn I'll speak to my impression, but I caveat it, it's one person's impression. 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. Unrealized gain (loss) - net of tax expense (recovery) effect of $347 and $37 for the three months ended December 31, 2022 and 2021, respectively; ($859) and $(354) for the six months ended . Just so really speaking backward-looking, so far, so good. To change your e-mail options at

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