The Motley Fool has a disclosure policy. Good afternoon. From the top, I think you said the right thing, which is there's a little bit of a decoupling thus far of infection from hospitalization. So our customers are asking us for advanced instrumentation. We continue to operate in a challenging supply chain environment and have experienced longer lead times and delayed deliveries from our suppliers. SUNNYVALE, Calif., Jan. 24, 2023 (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, 2022. Sure. I'll speak to my impression, but I caveat it, it's one person's impression. I've had the privilege of seeing Intuitive develop the use of robotics in multiple clinical indications over the years. Investors are cautioned not to place undue reliance on such forward-looking statements. And basically, still underpenetrated, big opportunity. Mehr Brsen-Nachrichten . Some of them are fully included because we feel like they make us more efficient and to make them more efficient. Submit. 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. As part of our mission, we believe that minimally invasive care is life-enhancing care. as can be seen with the more than 29,000 peer-reviewed scientific articles that reference Intuitive technologies. All of that, to me, indicates that the business feels in balance. To the extent that hospitalizations expand significantly due to COVID and its variants, like currently being experienced in parts of the world, it could negatively impact da Vinci procedures. Intuitive Surgical Is Falling After Earnings. This Analyst Thinks It's 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. We ended the quarter with cash and investments of $7.7 billion, compared with $7.2 billion last quarter. 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%. Those things are ongoing now. 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. But as you heard in our prepared comments, a significant increase in hospitalization is not reflected in the guidance range. Growth in our second largest market, China, continued to be strong with multiple specialties contributing. What to Watch in Intuitive Surgical's Upcoming Earnings Report We're OK. We're not frightened of that. 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. The decrease relative to these prior periods reflects geographic mix and volume discounts provided to customers purchasing multiple systems. What we've seen, though, is that what happens in the PowerPoints and what happens a year later is different. It is in fact a physically taxing procedure, as Gary described. Learn More, Intuitive Surgical(ISRG 2.61%)Q22021 Earnings CallJul 20, 2021, 4:30 p.m. Intuitive Surgical 10.5. Phone: 408-523-2161 So it's hard to time it out, and it doesn't time out over one or two quarters, it times out over years. These non-GAAP financial measures also facilitate managements internal comparisons to its historical performance. . 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. By uniting advanced systems, progressive learning, and value-enhancing services, we help physicians and their teams optimize care delivery to support the best outcomes possible. This growth rate compares with 9% last year and 8% last quarter. Fourth quarter 2021 GAAP income from operations increased to $450million, compared with $416million in the fourth quarter of 2020. These awards are valued based on certain key performance metrics. Ladies and gentlemen, thank you for standing by, and welcome to the Intuitive Q2 2021 earnings conference call. Yes. Is Intuitive Surgical Stock Still Worth Buying Hand Over Fist in 2023? And we expect those to come back as COVID goes away and the restrictions on travel and the restrictions on other activities go away. Intuitive Announces Fourth Quarter Earnings | Intuitive Surgical Copyright 2023 Intuitive Surgical. You may automatically receive Intuitive Surgical financial information by e-mail. You may automatically receive Intuitive Surgical financial information by e-mail. The tax effects of the non-GAAP items are determined by applying a calculated non-GAAP effective tax rate, which is commonly referred to as the with-and-without method. So first question for me is just trying to dissect your procedure results a little bit more because some really interesting comments, that you saw strength in benign cases, some catch-up cases. 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. The next page will display a menu of options. Please go ahead, sir. Intuitive Surgical Dives To 8-Month Low; Why It Could Still Outperform 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. For important safety information, indications for use, risks, full cautions, and warnings, please refer to www.intuitive.com/safety. 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. It's hard to have a precise measure on it. What To Expect From Intuitive Surgical's Q1? - Forbes For full-year 2021, Intuitive Surgical revenues are estimated to be north of $5.7 billion, reflecting a 30% y-o-y growth, while the growth rate is expected to slow to low teens next year . In other words, happy, very satisfied customers. 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. 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 . 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. Reported revenue and procedure results are consistent with the Companys press release issued on January 12, 2022. Gary S. Guthart Chief Executive Officer, Member of the Board of Directors. OK. And last one on SP. We know that new system placements are closely tied to anticipated procedure volumes and system utilization in mature markets. To choose Intuitive advances minimally invasive care by innovating at the point of possibility. How close we are to maybe seeing something that you can monetize? Intuitive Surgical (ISRG) Q2 2021 Earnings Call Transcript Contact Information. In closing, we continue to believe there is a substantial and durable opportunity to fundamentally improve surgery and acute interventions. We don't actually know how much backlog was resolved in the quarter, how much backlog is left or the timing of the recovery of that might be. Driven by steady sales of da Vinci and increasing surgical procedures, Intuitive Surgical recorded $5.71 billion in revenue for 2021, up 82% over the past five years despite COVID-19 slowdowns. The Company defines non-GAAP EPS as non-GAAP net income attributable to Intuitive Surgical, Inc. divided by non-GAAP diluted shares, which are calculated as GAAP weighted-average outstanding shares plus dilutive potential shares outstanding during the period. Listen to Webcast. 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. To change your e-mail options at Just anything you could talk to there would be helpful. Good afternoon, and welcome to Intuitive's second-quarter earnings conference call. 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. Intuitive Surgical Inc. (ISRG) Q1 2021 Earnings Call Transcript But at this point, it's just too difficult to estimate and, therefore, kind of give you any additional color on. We look forward to talking with you again in three months. 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. There appears to be some. Plan to attend GIANT 2022. 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. The stock movement pushed Intuitive . We heard your comments, but just kind of thinking a little bit longer-term than just the next couple of quarters. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. 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.

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