Even though we've seen growth in the procedures that were specifically targeted by extended use instruments, it's hard to discern what is COVID-related versus what is not. And regarding the backlog, how do you know there was catch-up and why won't that continue for the next few quarters? 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. Intuitive Surgical 10.5. 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 Motley Fool owns shares of and recommends Intuitive Surgical. The Zacks . Fourth quarter 2022 non-GAAP* income from operations decreased to $530 million, compared with $583 million in the fourth quarter of 2021. 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. From a U.S. perspective, I think it's early, and I think we're simply acknowledging the risk. Copyright 2023 Intuitive Surgical. The Company shipped 385 da Vinci Surgical Systems in the fourth quarter of 2021, compared with 326 systems . To change your e-mail options at In other words, happy, very satisfied customers. For more information, please visit the Companys website at www.intuitive.com. Da Vinci systems offer surgeons high-definition 3D vision, a magnified view, and robotic and computer assistance. [Operator instructions] And for our first question, we will go to Tycho Peterson. Fourth quarter 2022 GAAP net income attributable to Intuitive Surgical, Inc. was $325 million, or $0.91 per diluted share, compared with $381 million, or $1.04 per diluted share, in the fourth quarter of 2021. In Q2, U.S. procedures grew 77% year over year, which equates to 16% on a two-year . The constant currency revenue percentage change is calculated by determining the increase in the current period constant currency revenue over the prior period revenue. COVID had a significant impact on da Vinci procedure volumes in the second quarter of 2020. Please go ahead. In the quarter, we completed a number of placements with larger IDNs that prefer to purchase rather than lease product. Hospitalizations of patients due to COVID have negatively impacted da Vinci procedures. Are we starting to see leverage potentially that could enable a little bit better margins as we think about next year, year after? Copyright 2023 Intuitive Surgical. Clinical trial sites completed enrollment for our PRECIsE clinical trial. At this time, all participants are in listen-only mode. What we've seen, though, is that what happens in the PowerPoints and what happens a year later is different. Investor's Business Daily . I think there's elements of our spend that have been restrained because of -- restricted because of COVID and its impact. The Company ended the fourth quarter of 2022 with $6.74 billion in cash, cash equivalents, and investments, a decrease of $651 . 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. Ion system placements and procedures are excluded from our overall system and procedure counts. 2021 Intuitive Surgical Inc - - USD 2020 Intuitive Surgical Inc . Our technologies include the da Vinci surgical system and the Ion endoluminal system. And there's a lot of opportunities for OR efficiencies and standardization, controlling operating costs, controlling consumables costs. We ended the quarter with cash and investments of $7.7 billion, compared with $7.2 billion last quarter. The non-GAAP* measures are described below and are reconciled to the corresponding GAAP measures at the end of this release. Making the world smarter, happier, and richer. And just, you know, on competition, it does seem like the noise is increasing. It's not just the robot. INTUITIVE at 43rd Annual Goldman Sachs Global Healthcare Conference. It's hard to have a precise measure on it. your options for e-mail notification, please enter your e-mail address below and click The adjustments between pro forma and GAAP net income are outlined and quantified on our website. Current page 1; Page 2; Page 3; . To choose your options for e-mail notification, please enter your e-mail address below and click Submit . So those are the drivers we watch. It's taking getting the advanced instruments, put them together as a set, getting our workflows and our clinical pathways right, and I think that's been powerful to date. your options for e-mail notification, please enter your e-mail address below and click Intuitive Surgical (ISRG 0.58%) Q3 2021 Earnings Call Oct 19, 2021, 4:30 p.m. So it's not a scientific study, just my view. There are no upcoming events available at this time. Our overall second-quarter procedure growth was 68%, compared to a decline of 19% during the second quarter of 2020, which reflected a significant adverse impact from the COVID-19 pandemic. We've seen a few teams come out and field systems that are alternatives to ours. Before we begin, I would like to inform you that comments mentioned on today's call may be deemed to contain forward-looking statements. Just anything you could talk to there would be helpful. How are you thinking about competition? 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. OK. And then just one quick follow-up. 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. Medistim ASA schlgt ordentliche Dividende fr 2021 vor, zahlbar am 9. 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. OK. That's helpful. Second-quarter OUS procedure volume grew approximately 51%, compared with a 7% decline for the second quarter of 2020 and 23% growth last quarter. 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. Long-term incentive plan expense relates to phantom share awards granted in China by the Companys joint venture, Shanghai Fosun Pharmaceutical (Group) Co., Ltd., to its employees that vest over four years and can remain outstanding for seven to ten years. And finally, expanding our clinical, economic, and analytical evidence base for key procedures and countries. I know last quarter, you kind of brought up the concept of going after thoracic and some additional other areas. Calvin Darling -- Senior Director of Finance, Investor Relations. Moving on to gross margin and operating expenses. Mehr Brsen-Nachrichten . The next page will display a menu of options. Our installed base of SP Systems is now 79: eight in Korea and 71 in the U.S. We completed first cases associated with a U.S. colorectal clinical trial in the second quarter. 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. To change your e-mail options at (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. Macroeconomic conditions created by COVID could regionally impact hospital capital spending. Go ahead, Mr. Hopkins. Theyjust revealed what they believe are thetenbest stocksfor investors to buy right now and Intuitive Surgicalwasn't one of them! On the capital side, new system placements continue to be healthy, with the United States, China, Germany, France, and Japan, notable in the quarter. Leasing and alternative financing arrangements enable customer access to capital. The system features an ultra-thin, ultra-maneuverable catheter that allows navigation far into the peripheral lung and provides the unprecedented stability necessary for precision in biopsy. Forward-looking statements relate to expectations concerning matters that are not historical facts. These non-GAAP financial measures also facilitate managements internal comparisons to its historical performance. So I apologize for the short-term-oriented question, but you're the first large-cap company to report here. . As the phases of the pandemic evolve, we're supporting our team in addressing the opportunities and challenges posed by the pandemic and the ways we work. Mai 2022: CI. Jamie will discuss procedure and clinical highlights and provide an update of our financial outlook. This article is a transcript of this conference call produced for The Motley Fool. 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. But as you heard in our prepared comments, a significant increase in hospitalization is not reflected in the guidance range. And I think for a subset of the benign procedures that have been kind of deferred elective procedures, hospitals can recover those pretty quickly. Just a couple of comments. The Company placed 369 da Vinci Surgical Systems, a decrease of 4% compared with 385 in the fourth quarter of 2021. Additional revenue statistics and trends are as follows. I think our customers will take their time to evaluate new things as they go. I'm here together with my CFO, Thomas Jakobsen.. | 2 Mrz 2023 . 10/08/22 - 11:00 AM EDT. I think what we're seeing is that the longer diagnostic pipelines have had this kind of double effect from the pandemic. 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. Shifting to the extended use program, you know, you've been out for around six months, smaller rollout in Europe in the fourth quarter. Looking to our finances in the quarter. The stock movement pushed Intuitive . Reported revenue and procedure results are consistent with the Companys press release issued on January 12, 2022. The Company calculates constant currency revenue by translating current period revenue using prior period exchange rates. Trade-in activity can fluctuate and be difficult to predict. Please go ahead. I think that would be a mistake. The number we're watching closely is hospitalization. Turning to our single-port system. 2022 Proxy Statement 36.4 MB. Intuitive Surgical's adjusted net . 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. Procedures recovered nicely in Q2. 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. In Europe, procedure growth varied by country based on the relative impact of and recovery from the pandemic. During 2022, the impact of the COVID-19 pandemic on the Companys business has differed by geography and region. However, our expense growth rate was modestly lower than our plan, driven by pandemic-related factors. And so we see that as a benefit also with respect to feedback from surgeons. Good afternoon, and welcome to Intuitive's second-quarter earnings conference call. 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. System placements in the quarter reflected procedure growth and hospitals upgrading to -- in order to access or standardize on fourth-generation capabilities. These forward-looking statements include, but are not limited to, statements related to the expected impacts of the COVID-19 pandemic on our business, financial condition, and results of operations, the potential impact on our procedure volume, our expected business, procedures, and procedure adoption, future results of operations, future financial position, our ability to increase our revenues, the anticipated mix of our revenues between product and service revenues, our financing plans and future capital requirements, anticipated costs of revenue, anticipated expenses, our potential tax assets or liabilities, our investments, anticipated cash flows, our ability to finance operations from cash flows and similar matters, and statements based on current expectations, estimates, forecasts, and projections about the economies and markets in which we operate and our beliefs and assumptions regarding those economies and markets. 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. [Inaudible] on a nice quarter.