Procedure growth drives capital purchases in many of our markets. The Company placed 369 da Vinci Surgical Systems in the fourth quarter of 2022, compared with 385 systems in the fourth quarter of 2021. Macroeconomic conditions created by COVID could regionally impact hospital capital spending. There are no upcoming events available at this time. The increase in instruments and accessories revenue was primarily driven by approximately 18% growth in da Vinci procedure volume, partially offset by customer buying patterns and foreign currency impacts. Pagination. Ion procedures grew sixfold over Q2 2020 to nearly 1,500 procedures in the quarter, reflecting recovery from the pandemic, the growth in new sites, and growth in utilization at existing sites. Yes. Fourth quarter 2022 revenue was$1.66 billion, an increase of 7%compared with$1.55 billion in thefourth quarter of 2021. Intuitive Surgical (ticker: ISRG ) reported an adjusted fourth-quarter profit of $1.30 a share, beating forecasts for $1.28 a share, on sales of $1.55 billion, which topped expectations for $1.52 . . Global Minimally Invasive Prostate Cancer Surgery Market Analysis by Looking to our finances in the quarter. Presentation: Operator. Icey Jiang - Google Women Techmakers Scholar - LinkedIn We ended the quarter with cash and investments of $7.7 billion, compared with $7.2 billion last quarter. Jamie, anything? Phone: 408-523 . COVID had a significant impact on da Vinci procedure volumes in the second quarter of 2020. 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 . In the second quarter, we modified the useful life of a deferred-tax asset, which resulted in a current charge to pro forma income. The Company defines non-GAAP gross profit as gross profit, excluding amortization of intangible assets and SBC and long-term incentive plan expenses. Intuitive develops, manufactures and markets the da Vinci surgical system. The Company calculates constant currency revenue by translating current period revenue using prior period exchange rates. A couple of things I'd say. Intuitive Surgical didn't offer an outlook for 2021. These non-GAAP financial measures also facilitate managements internal comparisons to its historical performance. The Motley Fool recommends Johnson & Johnson and recommends the following options: long January 2022 $580 calls on Intuitive . Fourth-quarter revenue was in line with Intuitive Surgical's positive preannouncement earlier this month. We are now slightly increasing our forecast and expect full-year gross profit margin to be between 70.5% and 71.5% of revenue. Customer appreciation and recurring use of our products has been growing nicely. 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. And finally, expanding our clinical, economic, and analytical evidence base for key procedures and countries. 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. INTUITIVE SURGICAL, INC.-14.33%: 79 654: BOSTON . Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. Preliminary full year 2021 systems revenue increased by 44% to approximately $1.69 billion, compared with $1.18 billion in 2020. Trade-in activity can fluctuate and be difficult to predict. Transcript : Medistim ASA, Q4 2022 Earnings Call, Mar 01, 2023 Bob Hopkins -- Bank of America Merrill Lynch -- Analyst. Fourth quarter 2021 revenue was$1.55 billion, an increase of 17%compared with$1.33 billion in thefourth quarter of 2020. Travel and associated costs in support of our field have also not recovered to pre-pandemic levels. Listen to Webcast. The Board of Directors of Intuitive Surgical approved a 3:1 stock split on August 5th, 2021. OK. Well, thank you, and our moderator, that was our last question. We have a broad range of estimates. Intuitive Surgical (ISRG) Posts Robust Preliminary Q4 Results Why Intuitive Surgical's Share Slump Is a Gift for Investors In Q2, U.S. procedures grew 77% year over year, which equates to 16% on a two-year compound annual growth rate basis. And Jamie, as to kind of where we are. From a market perspective, about 60%-ish or so are sleeves, about 15% are revisions. The year-over-year increase in I&A revenue per procedure reflects increased usage of our advanced instruments, partially offset by the impact of extended use instruments. Fourth quarter 2021 non-GAAP* income from operations increased to $588 million, compared with $535 million in the fourth quarter of 2020. OK. And last one on SP. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. I'll maybe start with Marshall on the first one and then go to Gary for the second one. On the capital side, new system placements continue to be healthy, with the United States, China, Germany, France, and Japan, notable in the quarter. Our digital learning programs continue to be an important part of our overall learning initiatives. We are also working on our regulatory filings to bring SP to Europe under the European Union's new medical device regulation framework. (6) Diluted net income per share includes the effect of the following items: Gains (losses) on strategic investments, net of tax, Less: net income attributable to noncontrolling interest in joint venture. The pandemic is not behind us, and additional infection growth may again strain hospital resources and impact our results in the future. The Company shipped 385 da Vinci Surgical Systems in the fourth quarter of 2021, compared with 326 systems . And finally, we will host a question-and-answer session. INTUITIVE at 43rd Annual Goldman Sachs Global Healthcare Conference. Lastly, we continue to digitally enhance our ecosystem. Procedures recovered nicely in Q2. Intuitive Surgical Stock - TipRanks.com How close we are to maybe seeing something that you can monetize? Pro forma gross margin for the second quarter of 2021 was 71.7%, compared with 62.4% for the second quarter of 2020 and 71.8% last quarter. You may automatically receive Intuitive Surgical financial information by e-mail. There are no upcoming events available at this time. The compound annual growth rate between the fourth quarter of 2019 and the fourth quarter of 2021 was 6%. And then has the elasticity relative to the extended use program and the pricing adjustments played out relative to your expectations? Capital placements for the first six months of 2021 were in line with procedure and utilization growth. Intuitive Surgical, Inc. - AnnualReports.com So I apologize for the short-term-oriented question, but you're the first large-cap company to report here. You may automatically receive Intuitive Surgical financial information by e-mail. Intuitive Announces Fourth Quarter Earnings, Intuitive Announces Preliminary Fourth Quarter and Full Year 2022 Results, Intuitive becomes largest robotic-assisted surgery provider to be accredited by the Royal College of Surgeons of England, Q4 2022 INTUITIVE Earnings Conference Call, INTUITIVE at J.P. Morgan Healthcare Conference, J.P. Morgan Healthcare Conference 2023 Presentation, Q3 2022 INTUITIVE Earnings Conference Call. Jamie will provide spend guidance later in this call. Second-quarter spending was below our expectations due to activities restricted by COVID, including clinical development, marketing events, and travel costs. During the second half of 2022, the Company saw COVID-19 resurgences impact da Vinci procedure volumes in China. Non-GAAP gross profit. We heard your comments, but just kind of thinking a little bit longer-term than just the next couple of quarters. Transitory was out a few years ago and CMR has been out and now Medtronic. It also reflects lower diagnostic pipelines and perhaps some reluctance for patients to visit hospitals. Fourth quarter 2022 constant currency revenue increased 10% compared to the fourth quarter of 2021. Starting with procedures. Mai 2022: CI. And I'd just be curious to -- since you all are calling it out repeatedly as an important incremental growth driver, where are we now, in your view, in that, I'm sure, multiyear, long-term adoption process? 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. COVID-19 has had, and will likely continue to have, an adverse impact on the Companys procedure volumes. Non-GAAP gross profit. Next, we go over to Larry Beigelsen with Wells Fargo. Intuitive will hold a teleconference at 1:30 p.m. PST today to discuss the fourth quarter 2021 financial results. And there's a lot of opportunities for OR efficiencies and standardization, controlling operating costs, controlling consumables costs. Q2 2022 INTUITIVE 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. To choose your options for e-mail notification, please enter your e-mail address below and click Submit . Analysts: . The number we're watching closely is hospitalization. Surgical Technologist - Full Time Faculty & Clinical Coordinator 5001-10,000 Employees. Second-quarter system average selling prices decreased to $1.55 million from $1.65 million for both the second quarter of 2020 and the first quarter of 2021. Intuitive Surgical Inc. (ISRG) Q1 2021 Earnings Call Transcript Listen to Webcast. 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. Higherfourthquarter revenue was driven by growth in da Vinci procedure volume and system placements. We placed an additional 20 Ion systems in the quarter, bringing the installed base to 70. I think that's what's been driving our success in the early market. Gary S. Guthart Chief Executive Officer, Member of the Board of Directors. The second reason to invest in Intuitive Surgical is its incredible profitability. . 10/08/22 - 11:00 AM EDT. 2021 Intuitive Surgical Inc - - USD 2020 Intuitive Surgical Inc . I think our customers will take their time to evaluate new things as they go. Anna Stefani - HES Project Manager - Alira Health | LinkedIn 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. Yeah. 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. Each quarter on these calls, we highlight certain recently published studies that we deem to be notable. The da Vinci surgical systems are designed to help surgeons perform minimally invasive surgery. *Stock Advisor returns as of June 7, 2021. 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. Submit. 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. Taken together, this combination of a recovery in procedures and healthy utilization supports our solid capital placement trends and rounds out a healthy commercial recovery year to date. It's not just the robot. Readers are cautioned not to place undue reliance on these forward-looking statements, 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 December 31, 2020, and the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, as updated by the Companys other filings with the Securities and Exchange Commission. 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. Jamie Samath Senior Vice President of Finance 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.

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