intuitive surgical investor presentation 2021 intuitive surgical investor presentation 2021

Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. You may automatically receive Intuitive Surgical financial information by e-mail. On the why side, it's -- bariatrics has been a little different than other procedure for us. The next page will display a menu of options. We think there's an opportunity to look at correlations between surgeon performance and outcomes. We also expect spending to increase as a percentage of revenue as investments in headcount, infrastructure, and other support areas catch up to the growth in the business. BSD Medical Corporation Medtronic Ethicon Endo-Surgery Olympus Corporation Siemens Healthcare Intuitive Surgical . Corporate Governance Guidelines 384.4 KB. The compound annual growth rate between the second quarter of 2019 and the second quarter of 2021 was 16.5%. The Company uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. So good morning, everyone, and welcome to Medistim's Fourth Quarter Presentation for 2022. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. The Company ended the fourth quarter of 2022 with $6.74 billion in cash, cash equivalents, and investments, a decrease of $651 . The compound annual growth rate between the fourth quarter of 2019 and the fourth quarter of 2021 was 6%. Intuitive Surgical didn't offer an outlook for 2021. This presentation contains forward-looking statements. A reconciliation between our pro forma and GAAP results is posted on our website. Just anything you could talk to there would be helpful. 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. 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. From a U.S. perspective, I think it's early, and I think we're simply acknowledging the risk. 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. We expect spending on activities restricted by COVID to increase as the impacts of the pandemic decline. Product and brand names/logos are trademarks or registered trademarks of Intuitive Surgical or their respective owner. 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. During the first half of 2022, the Company saw COVID-19 resurgences impact da Vinci procedure volumes in the U.S. and Europe followed by recoveries. Investor's Business Daily . Constant currency revenue growth. Next, we're going to the line of Rick Wise with Stifel. Third, we are launching and refining our flexible diagnostic platform, Ion, by working with early customers to help establish high-performing sites and by improving our technology and supply chain capabilities. 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. Intuitive Surgical, Inc. engages in the development, manufacture, and marketing of da Vinci Surgical Systems, and related instruments and accessories for . We're OK. We're not frightened of that. I think there's elements of our spend that have been restrained because of -- restricted because of COVID and its impact. Visit www.intuitive.com/en-us/products-and-services/ion. 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. You may automatically receive Intuitive Surgical financial information by e-mail. For more information, please visit the Companys website at www.intuitive.com. So it's not a scientific study, just my view. In Q2, we launched our SureForm stapling line in India. I know last quarter, you kind of brought up the concept of going after thoracic and some additional other areas. That low end also reflects some impact of a resurgence in the U.S. The Motley Fool recommends Johnson & Johnson and recommends the following options: long January 2022 $580 calls on Intuitive . Fourth quarter 2021 revenue was$1.55 billion, an increase of 17%compared with$1.33 billion in thefourth quarter of 2020. Listen to Webcast. Calvin Darling -- Senior Director of Finance, Investor Relations. Leasing and alternative financing arrangements enable customer access to capital. 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. 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. We believe value creation in surgery and acute care is foundationally human. In Q2, U.S. procedures grew 77% year over year, which equates to 16% on a two-year . Intuitive Announces Fourth Quarter Earnings, Less: net income attributable to noncontrolling interest in joint venture. 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. . In the quarter, strong trade-ins of older-generation systems for our fourth-generation products and strength in multi-system deals continue to support our thesis that customers that know us best continue to invest with us going forward. And so we'll see over time, we'll be able to measure a little bit better over time, and we'll monitor it. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. In terms of our underlying numbers, we're growing at a little faster rate in the revision section, sleeves and bypass grow about the same rate. In this Backstage Pass video, which aired Sept. 29, Motley Fool contributor Brian Withers shares his thoughts on Intuitive Surgical, highlighting the metrics investors need to watch when the . Senior Director-Finance & Investor Relations: Julian N. Nikolchev: Senior VP-Corporate Development & Strategy: In addition, COVID delayed some R&D work, resulting in underspend on prototypes. Is Intuitive Surgical Stock Still Worth Buying Hand Over Fist in 2023? 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. Thank you for your support on this extraordinary journey. In the U.S., procedures that are dependent on diagnostic pipelines also grew, albeit at lower rates as compared to benign procedures. 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. 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. Finally, we expect to continue to invest in expanding and accelerating our ecosystem of products and capabilities. Intuitive Surgical (ISRG 0.58%) Q3 2021 Earnings Call Oct 19, 2021, 4:30 p.m. 2021 Intuitive Surgical Inc - - USD 2020 Intuitive Surgical Inc . Second-quarter revenue reflected growth in both procedures and system placements. System placements in the quarter reflected procedure growth and hospitals upgrading to -- in order to access or standardize on fourth-generation capabilities. The rise in earnings was driven by higher . We are in the execution and launch phase of four efforts. Medistim ASA schlgt ordentliche Dividende fr 2021 vor, zahlbar am 9. In the U.S. and Europe, extended use instruments were nearly fully adopted in the second quarter. Turning to gross profit. The charge associated with the deferred-tax asset and a higher mix of U.S. income drove the 25% current quarter pro forma rate. The Motley Fool owns shares of and recommends Intuitive Surgical. In fact, our commentary is a little bit the opposite that these are being highly utilized. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. Women Techmakers Ambassador is responsible for driving diversity and inclusion through organizing local events within the tech community. The Company shipped 385 da Vinci Surgical Systems, an increase of 18% compared with 326 in the fourth quarter of 2020. We think we stand up pretty well to those comparisons, and we're ready to help them pursue their aims as the year proceeds. 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. We are refining our estimate and expect our full-year pro forma operating expense growth to be between 17% and 21%. Fourth quarter 2021 GAAP income from operations included share-based compensation expense of $120 million, compared with $104 million in the fourth quarter of 2020. 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. There are no upcoming events available at this time. So right now, we talked in the script about adding our work or IDE around colorectal, we're excited about that. SP procedures grew 133% year over year, with much of that growth coming from the United States. 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. Ladies and . Jan 2023 - Present3 months. Our rollout of Ion will continue to be measured while we optimize training pathways in our supply chain. Analysts: . Without excluding these tax effects, investors would only see the gross effect that these non-GAAP adjustments had on the Companys operating results. There was the usual impact of seasonality from vacations like Easter, but nothing notable within the quarter. COVID-19 has had, and may continue to have, an adverse impact on the Companys procedure volumes. Turning to our single-port system. We also believe that growth benefited from some procedures that were previously deferred due to delays in testing and patient concern over COVID. INTUITIVE SURGICAL, INC.-13.55%: 80 376: BOSTON SCIENTIFIC CORPORATION: 1.19%: 67 033: SIEMENS . And those two things come together, they also allow hospitals to start to address the backlog that's accumulated. I think the product ecosystem with XI with a 60-millimeter stapler is in good shape, and we're getting good feedback from surgeons in that regard. Intuitive Surgical 10.5. And so we have some catch-up to do in terms of infrastructure and support necessary to support the overall business. (1) Selling, general and administrative includes the effect of the following item: (2) Income from operations includes the effect of the following items: (3) Interest and other income, net includes the effect of the following item: (4) Income tax expense includes the effect of the following item: Excess tax benefits related to share-based compensation arrangements, (5) Diluted net income per share attributable to, Amortization of intangible assets, net of tax, Gains (losses) on strategic investments, net of tax. 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. Intuitive brings more than two decades of leadership in robotic-assisted surgical technology and solutions to its offerings and develops, manufactures, and markets the da Vinci Surgical System and the Ion endoluminal system. Some of them are included in our service contracts, some of them are on a per-use basis. In there is OUS markets continue to be choppy given that, in many cases, those markets are behind the U.S., for example, in their vaccination rollouts, and that leaves the possibility of continued resurgences and localized lockdowns. You may automatically receive Intuitive Surgical financial information by e-mail. Yeah. J.P. Morgan Healthcare Conference 2023 Presentation 4.2 MB. Intuitive Surgical -Export management Iqm selezione - 07.2021 . Hong Kong. And so we see that as a benefit also with respect to feedback from surgeons. Procedures recovered nicely in Q2. Just in 2021 there were more than . Keep up-to-date with changes . Last page last E-mail Alerts. And I kind of articulated what those were, travel and so forth. any time, re-enter your e-mail address and click Submit, then adjust your form entries. Making the world smarter, happier, and richer. Contact Information. European procedure growth was generally healthy, though varied by country. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. 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. Those things are ongoing now. So I wouldn't start building lots of leverage into your models. 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. Listen to Webcast. All Rights Reserved. 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. 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. China procedure growth remains strong and broad-based as a result of continued expansion of the installed base under the current quota. Gross profit, income from operations, net income attributable to Intuitive Surgical, Inc., net income per diluted share attributable to Intuitive Surgical, Inc., and diluted shares are reported on a GAAP and non-GAAP* basis. Follow Allison Gatlin on Twitter at @IBD_AGatlin . 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. Google's Women Techmakers program provides visibility, community, and resources for women in technology. Presenter SpeechKari Krogstad Okay. Each quarter on these calls, we highlight certain recently published studies that we deem to be notable. Shifting to the extended use program, you know, you've been out for around six months, smaller rollout in Europe in the fourth quarter. Fourth quarter 2022 revenue was$1.66 billion, an increase of 7%compared with$1.55 billion in thefourth quarter of 2021. 10 stocks we like better thanIntuitive SurgicalWhen our award-winning analyst team hasa stock tip, it can pay to listen. Phone: 408-523-2161 Theyjust revealed what they believe are thetenbest stocksfor investors to buy right now and Intuitive Surgicalwasn't one of them! Non-GAAP gross profit. However, we anticipate more customers will seek leasing or alternative financing arrangements than reflected in historical run rates. We continue to see significant utilization variance by region due to pandemic differences. 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. ISRG stock analysts called for adjusted profit of $13.40 per share and $5.33 billion in sales. Health . INTUITIVE at 43rd Annual Goldman Sachs Global Healthcare Conference. Forward-looking statements relate to expectations concerning matters that are not historical facts. your options for e-mail notification, please enter your e-mail address below and click I've had the privilege of seeing Intuitive develop the use of robotics in multiple clinical indications over the years. Maybe just at the beginning of your comments, I was struck that you emphasized that da Vinci utilization rates are, if I understood you correctly, at the high end of historical averages. 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. One on procedures, one on competition. And basically, still underpenetrated, big opportunity. A couple of things. In the U.S., as COVID continued to subside in the second quarter of 2021, we saw a lower impact on da Vinci procedures. 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. 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. Invest better with The Motley Fool. 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%. COVID has impacted global supplies of semiconductors and other materials used in our products, while we carry safety stocks of critical components and are otherwise working to secure supply necessary to ensure fulfillment of customer demand, global shortages could result in higher production costs and production development and regulatory delays. So we don't really call them out as individual revenue lines. Thank you. Yes. Jamie will discuss procedure and clinical highlights and provide an update of our financial outlook. This growth rate compares with 9% last year and 8% last quarter. 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. 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. 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. OK. That's helpful. We placed an additional 20 Ion systems in the quarter, bringing the installed base to 70. The compound annual growth rate between the second quarter of 2019 and the second quarter of 2021 was 16.5%. And just, you know, on competition, it does seem like the noise is increasing. Total second-quarter revenue was $1.464 billion, representing a 72% increase from last year and a 13% increase from last quarter. Colorectal growth was strong, with solid growth in malignant hysterectomy, thoracic, and prostatectomy procedures. The increase in cash in the second quarter primarily reflected cash from operations and stock exercises. So we're making those investments to move that forward. Turning to our innovation and commercialization efforts. We kind of outlined what was assumed in the high end of the procedure guidance. We think there is an opportunity to accelerate learning and to drive increased insight for a surgeon into their own progress. And finally, expanding our clinical, economic, and analytical evidence base for key procedures and countries. 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. 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. 07/21/22 - 1:30 PM PDT. Let me start with why I think it's adopting, and I'm going to turn to Jamie as to where -- what inning of the baseball game are we in, I'll let Jamie take that. To choose What's left to do from maybe a product or procedure or instrument point of view? Gary will present the quarter's business and operational highlights. These system-controlled staplers, vessel sealers, and energy instruments support a range of procedures from bariatrics to colorectal procedures, to thoracic and gynecologic applications. Some of them are fully included because we feel like they make us more efficient and to make them more efficient. Fourth quarter 2022 constant currency revenue increased 10% compared to the fourth quarter of 2021. 2021 Intuitive Sustainability Report 7.8 MB. We expect these programs to continue their ramp as our labs and development programs recover efficiency. INTUITIVE at 43rd Annual Goldman Sachs Global Healthcare Conference. Key business metrics for the second quarter were as follows.