Feb 10, 2021. We did not repurchase any shares in the quarter. January 12, 2021 39th Annual J.P. Morgan Healthcare Conference. We expect spending on activities restricted by COVID to increase as the impacts of the pandemic decline. So I apologize for the short term oriented question, but you’re the first large cap company to report here. Q4 2020 Intuitive Surgical Earnings Conference Call. your options for e-mail notification, please enter your e-mail address below and click That concludes our prepared comments. Our pro forma spending grew over 24% from a year ago, representing increased investment in our business. Try to look through the pandemic kind of ups and downs. I would just have you look back earlier in the da Vinci experience and that these are long development cycles. And when it will affect future procedure growth. Capital placements for the first six months of 2021 were in line with procedure and utilization growth. Intuitive Surgical's Q2 results were truly impressive, mainly because of the company's growth acceleration. I will add one bit of color to that. We’re doing what we call the procedure development and the trial development around other indications. So when we talk about My Intuitive that really is putting the power of interaction and data at the surgeon level in their hands or at the robotic coordinator level in their hands. According to an investor presentation from last month, more than 40% of its Diabetes members have benefited . SP procedures grew 133% year-over-year, with much of that growth coming from the United States. Gary, separate topic, I’ve had the privilege of seeing Intuitive develop use of robotics in multiple clinical indications over the years. INTUITIVE at J.P. Morgan Healthcare Conference. Transaction Overview Sources Equity to HeartFlow Stockholders $2,150.0 Longview Cash Held in Trust1 690.0 Pre-Closing Return of Capital1,2 (91.0) Total Sources2 $2,749.0 Uses Equity to HeartFlow Stockholders $2,150.0 Cash to Balance Sheet1,2 346.5 Cash for Secondary Purchases 110.0 Debt Retirement, Interest and Related Fees4 74.2 . Lastly, this volume addresses emerging technology in robotics and the impact that the robotics platform will have on not only practice of surgery, but also in the education of surgeons at all levels. Yes, just in terms of intra-core procedure trends if you’re asking Larry month by month, there was nothing notable actually that we would call out as the usual impact of seasonality from vacations like East of nothing notable within the core. Gross profit, income from operations, net income, net income per diluted share, and diluted shares are reported on a GAAP and non-GAAP* basis. With real earnings rocketing higher, the stock price followed, rising from $2.51 in 2003 to $13.34 in 2005. 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 or is this simply and primarily just that something about the pandemic accelerating the use of da Vinci and robotic surgery broadly? Ion procedures grew six fold over Q2 2020 to nearly 1500 procedures in the quarter. Management addresses these limitations by providing specific information regarding the GAAP amounts excluded from non-GAAP net income and non-GAAP EPS and evaluating non-GAAP net income and non-GAAP EPS together with net income (loss) and net income (loss) per share calculated in accordance with GAAP. Second quarter 2021 systems revenue increased by 68% to $440 million, compared with $261 million in the second quarter of 2020. 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. The non-GAAP* measures are described below and are reconciled to the corresponding GAAP measures at the end of this release. Our second quarter 2021 performance was encouraging, with use of our systems for procedures growing beyond pre-pandemic levels and healthy capital placements. And we are early and high product cycle and we’re early in the SP or early mid in SP. Field and marketing costs will tick up if the pandemic wanes. We continue to operate in a challenging supply chain environment and have experienced longer lead times and delayed deliveries from our suppliers. Intuitive Surgical Inc. stock outperforms market on strong trading day Shares of Intuitive Surgical Inc. inched 0.45% higher to $364.95 Friday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index rising 0.37% to 4,697.53 and the Dow Jones Industrial Average rising 0.56% to 36,327.95. The Investor Relations website contains information about Intuitive Surgical's business for stockholders, potential investors, and financial analysts. COVID had a significant impact on da Vinci procedure volumes in the second quarter 2020. Non-GAAP net income attributable to Intuitive Surgical, Inc. $ 434.7 $ 477.1 $ 333.8 $ 1,339.0 $ 788.9 GAAP net income per share attributable to Intuitive Surgical, Inc. - diluted $ 1.04 $ 1.42 . The increase compared to prior year reflects costs associated with higher headcount, increased variable compensation and increased spending in areas impacted by COVID. And the impact of localized lockdowns as a result of ongoing efforts to prevent resurgences of COVID-19. October 29, 2020 Corporate & Investor Presentation. The material presented represents the views and opinions of independent surgeons based on their practice and personal experience performing surgery with the da Vinci surgical system. your options for e-mail notification, please enter your e-mail address below and click Leasing represented 33% of current quarter placements compared with 29% last year and 43% last quarter. The Payable Date is October 4, 2021. Non-GAAP net income attributable to Intuitive Surgical, Inc. $ 434.7 $ 477.1 $ 333.8 $ 1,339.0 $ 788.9 GAAP net income per share attributable to Intuitive Surgical, Inc. - diluted $ 1.04 $ 1.42 . There are other things imaging updates and software updates that are — that are really all focused around right instruments, right features for the right extension or right expansion. Another third works closely with customers in the field and the remaining third, have traditionally worked in lab and office environments. This CESifo volume fills this gap, examining the multinational enterprise (MNE) and foreign direct investment (FDI) from both theoretical and empirical perspectives. Second, disciplined execution of our launches, including our advanced instruments, SP, Ion, and digital efforts. The PowerPoint PPT presentation: "Intuitive Surgical, Inc'" is the property of . Reflecting in part, we believe a partial catch up in these procedures related to the previous deferral of elective surgeries. Now turning to the clinical side of our business. Hospitals were flooded last year as a result of the COVID-19 pandemic, causing Intuitive Surgical's da Vinci deliveries to slow down. It’s hard to have a precise measure on it. Devices market to grow at 11.7% CAGR for the next 5 years and reach $5.3 billion in 2021, RAS Devices Market Report, Meddevicetracker Group. (1) Services revenue includes the effect of the following item: (2) Income from operations includes the effect of the following item: (3) Interest and other income, net includes the effect of the following item: Unrealized gains on strategic investments. Gary S. Guthart — Chief Executive Officer, Member of the Board of Directors. Submit. In parallel, we are creating Intuitive certification programs for product part qualification process, supplier certification inspection process (SCIP), design history records, and traceability processes. Yes, so here is kind of where we stand with backlog. Given the stronger recovery of procedures we have experienced so far, particularly in the US and strength in US general surgery, we are now increasing our forecast and expect full-year 2021 procedure growth of 27% to 30%. Actual results may differ materially from those expressed or implied as a result of certain risks and uncertainties. That’s great. Anything you could talk to there would be helpful? And we think that the — the extended use instruments lowers barriers for purchases of systems. [Operator Instructions] And for our first question. I guess, first question on guidance. COVID has impacted global supplies of semiconductors and other materials used in our products. So first question for me is just trying to dissect your procedure results a little bit more because it’s really interesting comments that you saw strength in benign cases, some catch-up cases. During the quarter, a group from the Shenyang Hospital Naval Medical University in China published a matter [Phonetic] analysis in BMC Cancer comparing robotic-assisted thoracic surgery versus video-assisted thoracic surgery or VATS for lung lobectomy or segmentectomy in patients with non-small cell lung cancer. 7/23/2021. The Board of Directors of Intuitive Surgical approved a 3:1 stock split on August 5th, 2021. In terms of procedure categories, bariatrics continued the strength that we’ve seen for some time. 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. Our 2021 Focus For 2021, we are focused on the following business objectives. Looking forward, we see the following capital revenue dynamics. Intuitive (Nasdaq: ISRG), headquartered in Sunnyvale, California, is a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery. Marshall L. Mohr — Executive Vice President and Chief Financial Officer. Non-GAAP net income and EPS. China continued the strength that we’ve seen over the last couple of quarters. You’ve been out for — for around six months, smaller rollout in Europe in the fourth quarter, can you talk about kind of next steps to the program here, particular geographies you’re targeting and then has the elasticity relative to the extended use program and the pricing adjustments played out relative to your expectations or any color you can provide on that. In a sign that big-box retailers fall behind their e-commerce counterparts when it comes to tapping into the COVID-induced shift in consumer behavior, Walmart, Inc. (NYSE: WMT) suffered a stock, Alibaba Group Holding Limited (NYSE: BABA) reported Q2 2022 earnings results today. The procedure was carried out by a team, led by Prof. Qingquan Luo, Executive Deputy Director of Department of Oncology, Shanghai . Now, Intuitive is one of the largest players in the surgical space. And then SG&A, kind of same kind of question, you’ve been spending a lot there, are we starting to see leverage potentially that could — that could enable a little bit better margins as we think about next year, year after. These programs together trained over 2200 care team members in the quarter, showing organizational strength and localizing programs and responding with agility to pandemic influenced demand. Roper Technologies Second Quarter 2021 Financial Results Conference Call. Just so I’m really speaking backward looking so far so good. . In the quarter, we completed a number of placements with larger IDNs that prefer to purchase rather than lease product. 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. Before we begin, I would like to inform you that comments mentioned on today’s call may be deemed to contain forward-looking statements. Medtronic management believes that non- GAAP financial measures provide information useful to investors in understanding the company's underlying operational Procedure growth in the US was led by bariatric cholecystectomy and hernia procedures. Thank you for joining us today. What is the da Vinci Robot?<br /> 3. That’s — that we’re not putting out more capital than folks need even though it’s been healthy capital quarters. It links into some of the other things you’re talking about. Conversion rates to open surgery were lower in the robotic group compared to the laparoscopic group, 0.6% as compared to 4.9% and re-operation rates in the 30 days post procedure were comparable between robotics and laparoscopy and lower for robotic as compared to open, 0.6% as compared to 3.1%. Please go ahead. Marshall, the operating margin coming in at the 43%. Second quarter 2021 GAAP net income was $517 million, or $4.25 per diluted share, compared with $68 million, or $0.57 per diluted share, in the second quarter of 2020. Hey, thanks. We could see one large competitor approved in the second half of this year. SUNNYVALE, Calif., Oct. 19, 2021 (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 September 30, 2021. I think that when you think about our product cycles. The Company shipped 328 da Vinci Surgical Systems in the second quarter of 2021, compared with 178 systems in the second quarter of 2020. In US, procedures that are dependent on diagnostic pipelines also grew, albeit at lower rates as compared to benign procedures. And finally, we will host a question-and-answer session. Jamie will take you through procedure dynamics in more detail later in the call. In this leading edge volume, Professor Burns focuses on the key role of the 'producers' as the main source of innovation in health systems. So it’s not a scientific study, just my view. 03/03/21 - 10:00 AM EST. All of that to me indicates that the business feels imbalance. This book provides a concise yet comprehensive summary of the evolving techniques and current status of interventional urology. The pandemic is not behind us and additional infection growth may again strain hospital resources and impact our results in the future. I will now summarize our GAAP results. Yeah, sure. The Company’s calculated non-GAAP effective tax rate is generally higher than its GAAP effective tax rate. So I wouldn’t start building lots of leverage into your models. Of caution that with the next couple of quarters or next four quarters looks like in terms of hospital access to capital and their decision making capital is always lumpy. We also believe that growth benefited from some procedures that were previously deferred due to delays in testing and patient concern over COVID. I will now turn to our financial outlook for 2021. 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 acquisitions, our expected business, our expected new product introductions, the impacts of Extended Use Instruments, 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, the effect of recent accounting pronouncements, 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 these economies and markets. Second quarter 2021 GAAP income from operations included share-based compensation expense of $110 million, compared with $96 million in the second quarter of 2020. 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. 20, 2021Corporate Participants: Calvin Darling — Senior Director of Finance, Investor Relations. Intuitive Surgical (NASDAQ:ISRG) Q4 2020 Earnings Call Jan 21, 2021, 4:30 p.m. The Investor Relations website contains information about Intuitive Surgical's business for stockholders, potential investors, and financial analysts. These forward-looking statements should be considered in light of various important factors, including, but not limited to, the following: our ability to obtain accurate procedure volume and mix in the midst of the COVID-19 pandemic; 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 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 COVID-19 outbreaks; the impact of global and regional economic and credit market conditions on healthcare spending; the risk that the COVID-19 virus disrupts local economies and causes economies in our key markets to enter prolonged recessions; 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 the joint venture with Shanghai Fosun Pharmaceutical (Group) Co., Ltd.; our completion of and ability to successfully integrate acquisitions, including Schölly Fiberoptic's robotic endoscope business and Orpheus Medical; procedure 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 of surgery in which we operate; risks associated with our operations outside of the United States; 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. 50.4 milliliters lower blood loss, 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 post-operative complication. 20, 2021Corporate Participants: Philip Kim — Head of Investor Relations. And with that, I’d like to turn it over to Jamie. Shares of Intuitive Surgical rose early Wednesday, as investors digested the robotic-assisted surgery firm's better . System placements in the quarter reflected procedure growth and hospitals upgrading to — in order to access or standardize on fourth generation capabilities.

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