We work closely and collaboratively . Thanks. Intuitive Surgical Asensus Surgical . Bob Hopkins -- Bank of America Merrill Lynch -- Analyst. (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. Thanks. The Motley Fool owns shares of and recommends Intuitive Surgical. 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. Procedure growth in the U.S. was led by bariatric cholecystectomy and hernia procedures. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Growth in our second largest market, China, continued to be strong with multiple specialties contributing. Investors are cautioned not to place undue reliance on these forward-looking statements, including statements about our results of operations, growth strategy and commercial opportunity. You've been spending a lot there. I think what we're seeing is that the longer diagnostic pipelines have had this kind of double effect from the pandemic. (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. So we're excited about that because it gives them fast and easy access. Medistim ASA schlgt ordentliche Dividende fr 2021 vor, zahlbar am 9. To choose The high end of the range assumes strength in U.S. general surgery, a return to normalized diagnostic pipelines, the vaccines are effective against any new COVID-19 variants and the vaccine rollouts in OUS markets continue as currently expected by governments around the world. 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: 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. Fourth quarter 2021 instruments and accessories revenue increased by 13% to $843million, compared with $747million in the fourth quarter of 2020, primarily driven by approximately 19% growth in da Vinci procedure volume, partially offset by stocking orders in the prior year associated with the Companys launch of Extended Use Instruments. 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 . Our second-quarter 2021 performance was encouraging, with use of our systems for procedures growing beyond pre-pandemic levels and healthy capital placements. We believe that globally, customers have had not completely adjusted their instrument buying patterns to reflect the additional uses per instrument. The Company placed 369 da Vinci Surgical Systems, a decrease of 4% compared with 385 in the fourth quarter of 2021. We think there is an opportunity to accelerate learning and to drive increased insight for a surgeon into their own progress. 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. 20, 2021Corporate Participants: Calvin Darling Senior Director of Finance, Investor Relations. The next page will display a menu of options. Hospitalizations of patients due to COVID have negatively impacted da Vinci procedures. They're giving their PowerPoints about what they think is going to happen next and some other things. And the capital to support that demand has not run ahead of the procedure demand. Ladies and gentlemen, thank you for standing by, and welcome to the Intuitive Q2 2021 earnings conference call. Please go ahead. You may automatically receive Intuitive Surgical financial information by e-mail. Yes. Theyjust revealed what they believe are thetenbest stocksfor investors to buy right now and Intuitive Surgicalwasn't one of them! OK. Well, thank you, and our moderator, that was our last question. OUS markets grew 51% year over year or 19% on a two-year compound annual growth rate basis. 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. COVID-19 has had, and may continue to have, an adverse impact on the Companys procedure volumes. In Q2, U.S. procedures grew 77% year over year, which equates to 16% on a two-year . The results of the meta-analysis found that robotic-assisted thoracic surgery compared to VATs was associated with, among others, the following significant findings: 50.4 milliliters lower blood loss, a 50% lower chance of conversion to an open procedure, a 1.1 day shorter stay in the hospital and a 10% less chance of patient experience to postoperative complication. Gary, just with you, just thinking through the My Intuitive and what you're doing at the surgeon level. And Jamie, as to kind of where we are. How are you thinking about competition? And then has the elasticity relative to the extended use program and the pricing adjustments played out relative to your expectations? . From a market perspective, about 60%-ish or so are sleeves, about 15% are revisions. INTUITIVE SURGICAL, INC.-14.33%: 79 654: BOSTON . And at this time, I would like to turn the conference over to our host, senior director of finance, investor relations for Intuitive, Mr. Calvin Darling. 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. The supply issues we called out in the first quarter did not impact Ion placements and procedures in this quarter. As a result, we expect lower trade-in transactions over time. Product and brand names/logos are trademarks or registered trademarks of Intuitive Surgical or their respective owner. 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. It links into some of the other things you're talking about. To choose The non-GAAP* measures are described below and are reconciled to the corresponding GAAP measures at the end of this release. The call will be webcast by Nasdaq OMX and can be accessed on Intuitives website at www.intuitive.com or by dialing (844) 867-6169 using the access code 525958. Statements using words such as estimates, projects, believes, anticipates, plans, expects, intends, may, will, could, should, would, targeted, and similar words and expressions are intended to identify forward-looking statements. 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. We will now open the call to your questions. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Gosh, that's awfully encouraging sounding. PROCEPT BioRobotics is a surgical robotics company enabling better patient care by developing transformative solutions in urology. Turning to our single-port system. Ion is Intuitives robotic-assisted platform for minimally invasive biopsy in the lung. Yes. Our flexible robotics program, first targeted toward diagnostic bronchoscopy, has had a strong quarter. 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. I will also summarize our GAAP performance later in my prepared remarks. And so we have some indications that we saw backlog reflected in the Q2 results. Keep up-to-date with changes . Our focus right now is not rapid expansion of the installed base. And just, you know, on competition, it does seem like the noise is increasing. The rise in earnings was driven by higher . To change your e-mail options at Just to be clear on your answer to Tycho's question. 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. Our technologies include the da Vinci surgical system and the Ion endoluminal system. Thank you. Intuitive Surgical Inc. (NASDAQ: ISRG) Q1 2021 earnings call dated Apr. To change your e-mail options at Thanks, Tycho. With regard to income tax, we expect the range of our second-half 2021 pro forma tax rate to be between 21% and 22% of pre-tax income, slightly higher than the range we provided on the last call, reflecting a higher mix of U.S. income. 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. any time, re-enter your e-mail address and click Submit, then adjust your form entries. 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). 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. However, we anticipate more customers will seek leasing or alternative financing arrangements than reflected in historical run rates. 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, Inc. engages in the development, manufacture, and marketing of da Vinci Surgical Systems, and related instruments and accessories for . Third, driving depth and excellence in regional performance, particularly in Europe and Asia. 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. We launched our Force bipolar energy instrument along with our extended use instruments program in Japan, and we launched our SynchroSeal energy instrument and E-100 energy generator in Korea. The study contains 371 patients that underwent an incisional hernia repair procedure across 17 institutions within the United States between May 2016 and September 2019. 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? Pagination. 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. And we're pleased. Add to that, the uncertainty of wave 4, possibility of wave 4 makes it tough to put a number on, Larry. [Operator instructions] And for our first question, we will go to Tycho Peterson. Our digital learning programs continue to be an important part of our overall learning initiatives. Dec 2017 - Aug 20213 years 9 months. Procedures recovered nicely in Q2. Next, we're going to the line of Rick Wise with Stifel. Tuesday, October 18, 2022 4:30 PM EDT . We placed 20 Ion systems in the quarter, bringing the installed base to 70 systems. Looking to our finances in the quarter. Intuitive will hold a teleconference at 1:30 p.m. PDT today to discuss the fourth quarter 2022 financial results. The compound annual revenue growth rate between the second quarters of 2019 and 2021 was 15%. 10 stocks we like better thanIntuitive SurgicalWhen our award-winning analyst team hasa stock tip, it can pay to listen. First cases in our SP colorectal IDE trial were completed in the quarter as we seek to bring SP capability to additional procedures. Please go ahead. I'll now turn the time over to Marshall to take you through our financial performance in greater detail. That said, other teams are out. Again, if you look across that two-year period, try to look through the pandemic kind of ups and downs, what we're seeing is that procedure demand is there. Fourth-quarter revenue was in line with Intuitive Surgical's positive preannouncement earlier this month. This presentation contains forward-looking statements.
intuitive surgical investor presentation 2021