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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. Four of the systems placed in the first quarter were SP Systems, reflecting continued measured rollout of SP. So those are the drivers we watch. We are also working on our regulatory filings to bring SP to Europe under the European Union's new medical device regulation framework. Mai 2022: CI. My name is Kari Krogstad. Intuitive Announces Fourth Quarter Earnings, Less: net income attributable to noncontrolling interest in joint venture. Second-quarter revenue reflected growth in both procedures and system placements. 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. You may automatically receive Intuitive Surgical financial information by e-mail. COVID had a significant impact on da Vinci procedure volumes in the second quarter of 2020. 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). That's right -- theythink these 10stocks are even better buys. In the U.S., procedures that are dependent on diagnostic pipelines also grew, albeit at lower rates as compared to benign procedures. 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. 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. 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 December 31, 2021.Reported revenue and procedure results are consistent with the Company's press release issued on January 12, 2022. . Lockdowns decrease patient mobility and willingness to go get their tests and then hospitalization diminishes ICU capacity. Intuitive Surgical, and Verb Surgical, among other countless innovations. The Company undertakes no obligation to publicly update or release any revisions to these forward-looking statements, except as required by law. Our flexible robotics program, first targeted toward diagnostic bronchoscopy, has had a strong quarter. SP procedures grew 133% year over year, with much of that growth coming from the United States. Health . Intuitive Announces Fourth Quarter Earnings | Intuitive Surgical Based in Sunnyvale, California. Please go ahead. Non-GAAP net income attributable to Intuitive Surgical, Inc. and EPS. See www.intuitive.com/trademarks. Q2 2022 INTUITIVE Earnings Conference Call. Later we will have a question-and-answer session. All Rights Reserved. Our rollout of Ion will continue to be measured while we optimize training pathways in our supply chain. What To Expect From Intuitive Surgical's Q3? | Nasdaq 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. 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. GAAP net income was $517 million or $4.25 per share for the second quarter of 2021, compared with GAAP net income of $68 million or $0.57 per share for the second quarter of 2020 and GAAP net income of $426 million or $3.51 per share for the last quarter. Marshall will take you through our financial picture later in the call. Intuitive Surgical Inc (NASDAQ: ISRG) Q2 2021 earnings call dated Jul. We expect these programs to continue their ramp as our labs and development programs recover efficiency. So it's not a scientific study, just my view. All Rights Reserved. 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. J.P. Morgan Healthcare Conference 2023 Presentation 4.2 MB. Shares of Intuitive Surgical jumped as much as 9.8% on Wednesday to a record high of $891.15 after the robotic surgery company crushed first quarter earnings. 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. Trade-in activity can fluctuate and be difficult to predict. This MMR report includes investor recommendations based on a thorough examination of the Thoracic Surgery Market's contemporary competitive scenario. Mark the "Pitching to Investors Programme" on the 7th December 2022 in your calendar! Now turning to the clinical side of our business. Over 5 years of experience in working with experienced consultants in the banking and high-tech sectors to drive projects and initiatives in a cross-cultural environment. Jamie, I'll let you take it from there. Listen to Webcast. Turning to our single-port system. Please go ahead, sir. INTUITIVE SURGICAL, INC.-13.55%: 80 376: BOSTON SCIENTIFIC CORPORATION: 1.19%: 67 033: SIEMENS . See www.intuitive.com/trademarks. Next, we go over to Larry Beigelsen with Wells Fargo. Yes. We expect spending on activities restricted by COVID to increase as the impacts of the pandemic decline. 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. In Europe, procedure growth varied by country based on the relative impact of and recovery from the pandemic. Yeah. Of those patients, 43% were in the da Vinci robotic cohort, 35% in the laparoscopic cohort, and 22% in the open cohort. Or is this simply and primarily just something about the pandemic accelerating the use of da Vinci and robotics surgery broadly? Contact Information. 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. OK. And then just one quick follow-up. Intuitive develops, manufactures and markets the da Vinci surgical system. . Leasing and alternative financing arrangements enable customer access to capital. 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. Fourth quarter 2021 revenue was$1.55 billion, an increase of 17%compared with$1.33 billion in thefourth quarter of 2020. Fourth quarter 2021 GAAP net income attributable to Intuitive Surgical, Inc. included excess tax benefits of $27 million, or $0.07 per share, compared with $21 million, or $0.06 per share, in the fourth quarter of 2020. The Company defines non-GAAP net income as net income attributable to Intuitive Surgical, Inc., excluding intangible asset charges, non-cash impairment charges and recoveries, certain acquisition-related items for the re-measurement of contingent consideration, SBC and long-term incentive plan expenses, litigation charges and recoveries, 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, a one-time tax benefit from re-measurement of certain deferred tax assets, and the net tax effects related to intra-entity transfers of non-inventory assets. And we're building into the broader digital ecosystem for SP. OpenText Collaborates with Bayer to Simplify Digital Operations Dec 2017 - Aug 20213 years 9 months. Susanne Feldt - Founder - Hermaid | LinkedIn Second, disciplined execution of our launches, including our advanced instruments, SP, Ion, and digital efforts. The da Vinci surgical systems are designed to help surgeons perform minimally invasive surgery. So right now, we talked in the script about adding our work or IDE around colorectal, we're excited about that. Turning to our innovation and commercialization efforts. The Motley Fool recommends Johnson & Johnson and recommends the following options: long January 2022 $580 calls on Intuitive . 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? Calvin Darling -- Senior Director of Finance, Investor Relations. The charge associated with the deferred-tax asset and a higher mix of U.S. income drove the 25% current quarter pro forma rate. And as competition progresses in various markets, we will likely experience longer selling cycles and price pressures. 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 anticipate iterating our approach as we learn and the year progresses. any time, re-enter your e-mail address and click Submit, then adjust your form entries. I mean, how do you know there was catch-up from the backlog in Q2? So here's kind of where we stand with the backlog. Intuitive Surgical, Inc. (Nasdaq:ISRG), headquartered in Sunnyvale, Calif., is the pioneer and a global technology leader in robotic-assisted, minimally invasive surgery. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. There are a number of limitations related to the use of non-GAAP measures versus measures calculated in accordance with GAAP. 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. Investor's Business Daily . 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. Here's Why You Should Invest in Intuitive Surgical (ISRG) Now 07/21/22 - 1:30 PM PDT. Good afternoon. SBC expense has been, and will continue to be for the foreseeable future, a significant recurring expense in the Companys business. Or is it too early, and you're just saying that might happen in the future? Data Provided by Refinitiv. Follow Allison Gatlin on Twitter at @IBD_AGatlin . All Rights Reserved. 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. 07/21/22 - 1:30 PM PDT. Fourth quarter 2021 non-GAAP* net income attributable to Intuitive Surgical, Inc. was $477 million, or $1.30 per diluted share, compared with $434 million, or $1.19 per diluted share, in the fourth quarter of 2020. Good afternoon, and welcome to Intuitive's second-quarter earnings conference call. After all, the newsletter theyhave run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Submit. Gosh, that's awfully encouraging sounding. Annualized U.S. procedure growth rates are returning to historical levels for procedures with longer diagnostic pipelines as patients have started returning to screening and diagnostic testing. 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. Intuitive Surgical, Inc. (NASDAQ:NASDAQ:ISRG) JPMorgan 40th Annual Healthcare Conference January 12, 2022 3:45 PM ETCompany ParticipantsGary Guthart - CEOJamie Samath - CFOBrian King -. Richard Wolf GmbH 10.6 . 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. Leasing as a percentage of total sales lag has and will continue to fluctuate with customer and geographic mix. And with that, I'd like to turn it over to Jamie. 06/14/22 - 1:20 PM PDT. Shifting to the extended use program, you know, you've been out for around six months, smaller rollout in Europe in the fourth quarter. It last split in October of 2017. Intuitive Surgical Asensus Surgical . (USD millions), considering 2021 as the base year . 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%. On the capital side, new system placements continue to be healthy, with the United States, China, Germany, France, and Japan, notable in the quarter. That's great. You have to do it. And those two things come together, they also allow hospitals to start to address the backlog that's accumulated. 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. First cases in our SP colorectal IDE trial were completed in the quarter as we seek to bring SP capability to additional procedures. The Companys calculated non-GAAP effective tax rate is generally higher than its GAAP effective tax rate. And then on a two-year compounded basis, you're kind of where you thought you might be pre pandemic. Our teams continue to work closely with hospitals, physicians, and care teams in pursuit of what our customers have termed the Quadruple Aim: Better, more predictable patient outcomes, better experiences for patients, better experiences for their care teams, and ultimately, a lower total cost to treat. [Operator Instructions] As a reminder, today's call is being recorded. We are developing and deploying technology-enabled ecosystems to support our customers' pursuit of the Quadruple Aim, better outcomes, better patient experiences, better care team experiences, and lower total cost to treat per patient episode. 5001-10,000 Employees. Fourth quarter 2022 instruments and accessories revenue increased by 12% to $941 million, compared with $843 million in the fourth quarter of 2021. (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. The Motley Fool owns shares of and recommends Intuitive Surgical. It's a short period, but we believe that there is elasticity, and we've seen elasticity in markets where reimbursements are very low. 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. We have a broad range of estimates. There were nearly 1,500 Ion procedures completed in the second quarter. ET. It's hard to have a precise measure on it. And so we're going to continue to invest. The Board of Directors of Intuitive Surgical approved a 3:1 stock split on August 5th, 2021. PROCEPT BioRobotics is a surgical robotics company enabling better patient care by developing transformative solutions in urology. Ion is Intuitives robotic-assisted platform for minimally invasive biopsy in the lung. On the why side, it's -- bariatrics has been a little different than other procedure for us. Product and brand names/logos are trademarks or registered trademarks of Intuitive Surgical or their respective owner.