07/21/22 - 1:30 PM PDT. To choose 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. [Operator instructions] As a reminder, this conference is being recorded. We expect these programs to continue their ramp as our labs and development programs recover efficiency. We did not repurchase any shares in the quarter. Richard Wolf GmbH 10.6 . 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. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. For more information, please visit the Companys website at www.intuitive.com. 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. Product and brand names/logos are trademarks or registered trademarks of Intuitive Surgical or their respective owner. OUS markets grew 51% year over year or 19% on a two-year compound annual growth rate basis. any time, re-enter your e-mail address and click Submit, then adjust your form entries. BSD Medical Corporation Medtronic Ethicon Endo-Surgery Olympus Corporation Siemens Healthcare Intuitive Surgical . 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. Good afternoon. 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 . That's right -- theythink these 10stocks are even better buys. We look forward to talking with you again in three months. Product and customer mix fluctuate quarter to quarter, which can cause fluctuations in gross margins. The instrumentation updates, there are other things, imaging updates and software updates that are really all focused around right instruments, right features for the right extension or right expansion. Second-quarter revenue reflected growth in both procedures and system placements. It doesn't seem like the backlog would be exhausted just after one quarter. That concludes our prepared comments. Gotcha. All Rights Reserved. Last page last E-mail Alerts. And we've seen both good clinical outcomes, but also high surgeon satisfaction and better ergonomics. The authors concluded, "The results revealed that robotic-assisted thoracic surgery is a feasible and safe technique compared with VATs in terms of short-term and long-term outcomes." Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Extended use instruments were introduced into the U.S. and Europe in the fourth quarter, in most other markets in the first six months of this year, except China due to regulatory timelines. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Investors are cautioned not to place undue reliance on such forward-looking statements. Yeah. In the past 60 days, the Zacks Consensus Estimate for its earnings has moved north by 8.4% to $14.72. To understand our system placement and capital performance over this period, we look to annual system utilization trends, which have recovered to utilization rates at the high end of our historical averages. Moving on to capital placements. 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. And as competition progresses in various markets, we will likely experience longer selling cycles and price pressures. Doctors talking to us about further expansion of utilization. Buy These 2 Stocks in 2023 and Hold for the Next Decade, 2 Growth Stocks to Buy Before the Big Bull Rally, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. 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 . Are we starting to see leverage potentially that could enable a little bit better margins as we think about next year, year after? Fourth quarter 2022 non-GAAP* net income attributable to Intuitive Surgical, Inc. was $439 million, or $1.23 per diluted share, compared with $473 million, or $1.29 per diluted share, in the fourth quarter of 2021. (USD millions), considering 2021 as the base year . Partly, it's delays in getting in and getting tested and starting the journey and then getting in and having a procedure or treatment, whatever that might be. Ladies and . 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. During 2021, COVID-19 resurgences continued to impact da Vinci procedure volumes. We are also working on our regulatory filings to bring SP to Europe under the European Union's new medical device regulation framework. 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. 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. 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 Company uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. On our last call, we forecast our 2021 full-year pro forma gross profit margin to be within 70% and 71% of revenue. Investor's Business Daily . any time, re-enter your e-mail address and click Submit, then adjust your form entries. Second-quarter OUS procedure volume grew approximately 51%, compared with a 7% decline for the second quarter of 2020 and 23% growth last quarter. Leasing and alternative financing arrangements enable customer access to capital. And then given that it's cancer procedure, in some cases, it's a little bit longer follow-up. Second-quarter 2021 OUS procedure growth was driven by growth in prostatectomy procedures and earlier-stage growth in kidney cancer procedures, general surgery, gynecology, and thoracic. There was the usual impact of seasonality from vacations like Easter, but nothing notable within the quarter. 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. Before we begin, I would like to inform you that comments mentioned on today's call may be deemed to contain forward-looking statements. May 2021 - Present 1 year 10 months. 2022 Proxy Statement 36.4 MB. Good afternoon, and welcome to Intuitive's second-quarter earnings conference call. 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. Add to that, the uncertainty of wave 4, possibility of wave 4 makes it tough to put a number on, Larry. And we've received feedback -- positive feedback from surgeons who have indicated that system access has been a key driver for increased procedures. as can be seen with the more than 29,000 peer-reviewed scientific articles that reference Intuitive technologies. Good afternoon. Finally, we are strengthening our digital capabilities across our ecosystem. - building a financial model and investor presentation for fundraising . Find the latest Intuitive Surgical, Inc. (ISRG) stock quote, history, news and other vital information to help you with your stock trading and investing. Fourth quarter 2021 non-GAAP* income from operations increased to $588 million, compared with $535 million in the fourth quarter of 2020. Learn More, Intuitive Surgical(ISRG 2.61%)Q22021 Earnings CallJul 20, 2021, 4:30 p.m. This article is a transcript of this conference call produced for The Motley Fool. To supplement its consolidated financial statements, which are prepared and presented in accordance with accounting principles generally accepted in the United States (GAAP), the Company uses the following non-GAAP financial measures: constant currency revenue, non-GAAP gross profit, non-GAAP income from operations, non-GAAP net income attributable to Intuitive Surgical, Inc., non-GAAP net income per diluted share attributable to Intuitive Surgical, Inc. (EPS), and non-GAAP diluted shares outstanding. Intuitive Surgical, Inc. (Nasdaq:ISRG), headquartered in Sunnyvale, Calif., is the pioneer and a global technology leader in robotic-assisted, minimally invasive surgery. The decrease relative to these prior periods reflects geographic mix and volume discounts provided to customers purchasing multiple systems. You may automatically receive Intuitive Surgical financial information by e-mail. Non-GAAP gross profit. Ladies and gentlemen, thank you for standing by, and welcome to the Intuitive Q2 2021 earnings conference call. 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. We placed an additional 20 Ion systems in the quarter, bringing the installed base to 70. Mai 2022: CI. Today's press release and supplementary financial data tables have been posted to our website. I'm just curious what the net effect there is from the savings and expense perspective and R&D, whether this is maybe the beginning of you starting to see some leverage off of the 10% you've been at for the last couple of years. Analysts: . Travel and associated costs in support of our field have also not recovered to pre-pandemic levels. 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? 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 Company's da Vinci Surgical System offers surgeons superior visualization, enhanced dexterity, greater precision and ergonomic comfort for the optimal performance of MIS. Investors interested in listening to the conference call may do so by accessing a live and archived webcast of the event at www.neuropace.com, on the Investors page in the News & Events section. Intuitive Surgical has been witnessing an upward estimate revision trend for 2021. I think what we're seeing is that the longer diagnostic pipelines have had this kind of double effect from the pandemic. The Company presents constant currency revenue to provide a framework for assessing how our underlying business performed excluding the effect of foreign currency fluctuations. ISRG stock has split before. Copyright 2023 Intuitive Surgical. Please go ahead, sir. These forward-looking statements should, therefore, be considered in light of various important factors, including, but not limited to, the following: the risk that the COVID-19 pandemic could lead to further material delays and cancellations of, or reduced demand for, procedures; curtailed or delayed capital spending by hospitals; disruption to our supply chain, including increased difficulties in obtaining a sufficient amount of materials in the semiconductor and other markets; closures of our facilities; delays in surgeon training; delays in gathering clinical evidence; delays in obtaining new product approvals or clearances from the U.S. Food and Drug Administration (FDA) due to the effects of the COVID-19 pandemic; the evaluation of the risks of robotic-assisted surgery in the presence of infectious diseases; diversion of management and other resources to respond to the COVID-19 outbreaks; the impact of global and regional economic and credit market conditions on healthcare spending; the risk that the COVID-19 pandemic continues to disrupt local economies and causes economies in our key markets to enter prolonged recessions; the risk of our inability to comply with complex FDA and other regulations, which may result in significant enforcement actions; healthcare reform legislation in the U.S. and its impact on hospital spending, reimbursement and fees levied on certain medical device revenues; changes in hospital admissions and actions by payers to limit or manage surgical procedures; the timing and success of product development and market acceptance of developed products; the results of any collaborations, in-licensing arrangements, joint ventures, strategic alliances, or partnerships, including our joint venture with Shanghai Fosun Pharmaceutical (Group) Co., Ltd.; our completion of and ability to successfully integrate acquisitions, including Orpheus Medical; procedures counts; regulatory approvals, clearances, and restrictions or any dispute that may occur with any regulatory body; guidelines and recommendations in the healthcare and patient communities; intellectual property positions and litigation; competition in the medical device industry and in the specific markets in which we operate; risks associated with our operations outside of the U.S.; unanticipated manufacturing disruptions or the inability to meet demand for products; our reliance on sole and single source suppliers; the results of legal proceedings to which we are or may become a party; product liability and other litigation claims; adverse publicity regarding us and the safety of our products and adequacy of training; our ability to expand into foreign markets; the impact of changes to tax legislation, guidance, and interpretations; changes in tariffs, trade barriers, and regulatory requirements; and other risk factors. To change your e-mail options at 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. Women Techmakers Ambassador is responsible for driving diversity and inclusion through organizing local events within the tech community. I think there's elements of our spend that have been restrained because of -- restricted because of COVID and its impact. Second-quarter spending was below our expectations due to activities restricted by COVID, including clinical development, marketing events, and travel costs. 10 stocks we like better thanIntuitive SurgicalWhen our award-winning analyst team hasa stock tip, it can pay to listen. We've seen a few teams come out and field systems that are alternatives to ours. The Company defines non-GAAP gross profit as gross profit, excluding amortization of intangible assets and SBC and long-term incentive plan expenses. 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%. Just so really speaking backward-looking, so far, so good. Fourth quarter 2022 non-GAAP* net income attributable to Intuitive Surgical, Inc. was $439 million, or $1.23 per diluted share, compared with $473 million, or $1.29 per diluted share, in the fourth quarter of 2021. 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. Listen to Webcast. Our pro forma spending grew over 24% from a year ago, representing increased investment in our business. Investor's Business Daily . Gary, a separate topic. 3 min read. Intuitive develops, manufactures and markets the da Vinci surgical system. 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. Yeah, sure. We think there is an opportunity to accelerate learning and to drive increased insight for a surgeon into their own progress. One is we are focused on making sure that our ecosystem, our products, our systems, everything goes around it really delivers against the Quadruple Aim all the way through. Jamie will take you through procedure dynamics in more detail later in the call. Pagination. Theyjust revealed what they believe are thetenbest stocksfor investors to buy right now and Intuitive Surgicalwasn't one of them! Second-quarter 2021 procedures increased approximately 68% compared with the second quarter of 2020 and increased approximately 13% compared with last quarter. Please note that this conference call will be available for audio replay on our website at intuitive.com on the latest Events section under our Investor Relations page. 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. And so we have some catch-up to do in terms of infrastructure and support necessary to support the overall business. Or is this simply and primarily just something about the pandemic accelerating the use of da Vinci and robotics surgery broadly? 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. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. The Company ended the first quarter of 2022 with $8 .40 billion in cash, cash equivalents, and investments, a decrease of $218 . A contribution to the Intuitive Foundation reduced fourth quarter 2021 GAAP and non-GAAP* income from operations by $30 million. During the second half of 2022, the Company saw COVID-19 resurgences impact da Vinci procedure volumes in China. So that's a multi-quarter conversation. Most of our offices globally are reopening with this hybrid approach. Tuesday, October 18, 2022 4:30 PM EDT . 06/14/22 - 1:20 PM PDT. Compound annual growth between the second quarters of 2019 and 2021 was 16.5%. So we're making those investments to move that forward. 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. There are no upcoming events available at this time. 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. Forward-looking statements relate to expectations concerning matters that are not historical facts. Yes. And finally, we will host a question-and-answer session. My Intuitive allows surgeons and care team members to access their data, to manage their profile, their learning, and otherwise interact with Intuitive through an easy-to-use mobile app in the palm of their hand. Thirty-eight percent of systems placed in the second quarter involved trade-ins, which is lower than the 40% last year and the 44% last quarter.
Melbourne Museum Promo Code,
Do Hotels Require Proof Of Vaccination In Nyc,
Articles I
intuitive surgical investor presentation 2021