intuitive surgical investor presentation 2021who is susie wargin married to

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You may automatically receive Intuitive Surgical financial information by e-mail. The trade-in cycle has been a tailwind to system placements. Moving on to capital placements. I'll maybe start with Marshall on the first one and then go to Gary for the second one. 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. Procedures recovered nicely in Q2. In terms of procedure categories, bariatrics continued the strength that we've seen for some time. Instrument and accessory revenue per procedure of $1,940 increased, compared with $1,900 per procedure for the second quarter of last year, and decreased, compared with $1,950 per procedure in the first quarter. as can be seen with the more than 29,000 peer-reviewed scientific articles that reference Intuitive technologies. Gotcha. Total second-quarter revenue was $1.464 billion, representing a 72% increase from last year and a 13% increase from last quarter. The Company defines non-GAAP gross profit as gross profit, excluding amortization of intangible assets and SBC and long-term incentive plan expenses. Ladies and . Second-quarter spending was below our expectations due to activities restricted by COVID, including clinical development, marketing events, and travel costs. Buy These 2 Stocks in 2023 and Hold for the Next Decade, 2 Growth Stocks to Buy Before the Big Bull Rally, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. My Intuitive allows surgeons and care team members to access their data, to manage their profile, their learning, and otherwise interact with Intuitive through an easy-to-use mobile app in the palm of their hand. First, we are broadening access to our advanced instruments for our da Vinci Fourth Generation Multiport Systems through pursuit of additional clearances and launches outside the U.S. Second, we are expanding our da Vinci SP offering by broadening its regional and clinical indications and by adding it to its suite of instruments and accessories. What's left to do from maybe a product or procedure or instrument point of view? ISRG stock analysts called for adjusted profit of $13.40 per share and $5.33 billion in sales. And U.S. general surgery, in particular, performed well. The call will be webcast by Nasdaq OMX and can be accessed on Intuitives website at www.intuitive.com or by dialing (877) 692-8955 using the access code 5830756. 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. Presenter SpeechKari Krogstad Okay. So it's hard to time it out, and it doesn't time out over one or two quarters, it times out over years. And I have one follow-up. We also believe that growth benefited from some procedures that were previously deferred due to delays in testing and patient concern over COVID. We're taking a first-principles approach to return-to-office environments with our team, bringing back face-to-face interactions for those tasks best completed in person while enabling hybrid work environments for tasks that are well accomplished by distributed teams. 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 TO NON-GAAP FINANCIAL MEASURES(IN MILLIONS, EXCEPT PER SHARE DATA), Contact: Investor Relations(408) 523-2161. So that's a multi-quarter conversation. I think there's elements of our spend that have been restrained because of -- restricted because of COVID and its impact. I know last quarter, you kind of brought up the concept of going after thoracic and some additional other areas. 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. Annualized U.S. procedure growth rates are returning to historical levels for procedures with longer diagnostic pipelines as patients have started returning to screening and diagnostic testing. From a U.S. perspective, I think it's early, and I think we're simply acknowledging the risk. What was the second part of your question again, Larry? With me today, we have Gary Guthart, our CEO; Marshall Mohr, our CFO; and Jamie Samath, our senior vice president of finance. And Jamie, as to kind of where we are. ISRG stock has split before. I think the thing that we'd call out is it's not the case rates per se to monitor. 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. 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%. Copyright 2023 Intuitive Surgical. All Rights Reserved. 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. Listen to Webcast. In short, our commercial business has recovered more quickly than our spending due to the different ways that pandemic impacts our customers, our supply chains, and our hiring. Fourth quarter 2022 systems revenue decreased by 4% to $451 million, compared with $470 million in the fourth quarter of 2021. 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. We continue to see significant utilization variance by region due to pandemic differences. 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. 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. Fourth quarter 2022 GAAP income from operations included share-based compensation expense of $129 million, compared with $120 million in the fourth quarter of 2021. 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. 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. Non-GAAP gross profit. Of those patients, 43% were in the da Vinci robotic cohort, 35% in the laparoscopic cohort, and 22% in the open cohort. Pagination. Finally, our team is making good progress in scaling our operations. I just wondered, are you suggesting or should we be thinking that we could be in the front of a new wave of capital acquisition, with again, capital released because of the need to add additional systems to accommodate the expanding number of procedures? Intuitive Announces Fourth Quarter Earnings, Less: net income attributable to noncontrolling interest in joint venture. The compounded annual utilization growth rate between the second quarters of 2019 and 2021 was 6%. Reported revenue and procedure results are consistent with the Companys press release issued on January 12, 2022. This presentation contains forward-looking statements. . 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. The da Vinci surgical systems are designed to help surgeons perform minimally invasive surgery. *Stock Advisor returns as of June 7, 2021. 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. Those things are ongoing now. You have to do it. Frankly, the lack of precision in that estimate is such that it's probably not useful for us to share. The Companys calculated non-GAAP effective tax rate is generally higher than its GAAP effective tax rate. Today's press release and supplementary financial data tables have been posted to our website. Thanks. Yes. 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. Supporting investors, corporations, start-ups, and academic research labs. 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. 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. Full Time Faculty & Clinical Coordinator, Surgical Technologist Program Ask us about our $5,000 Sign on Bonus Rasmussen University Rasmussen University is seeking an experienced Surgical Technologist passionate about taking their own experience and translating that into helping students succeed in meeting their educational and professional goals. So be curious to hear from you on any procedure trends through the quarter in the U.S. and international. That says that we're not putting out more capital than folks need, even though it's been healthy capital quarters, it means our customers are getting good benefit out of what they're using those systems for. Yeah, sure. Intuitive Surgical, Inc. engages in the development, manufacture, and marketing of da Vinci Surgical Systems, and related instruments and accessories for . In the U.S. and Europe, extended use instruments were nearly fully adopted in the second quarter. 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. 07/21/22 - 1:30 PM PDT. It's a highly penetrated laparoscopic indication in the United States. Thank you for joining us today. I will also summarize our GAAP performance later in my prepared remarks. 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.

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