Intuitive Surgical, Inc. (NASDAQ:ISRG) Q4 2023 Earnings Call Transcript

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Gary Guthart: Sure. Jamie, I’ll let you take the kind of characterization of where we are in the adoption curves of general surgery, hernia, benign, chole and so on.

Jamie Samath: If you take a look at the US, and I’m going to put this in quartiles for a second in terms of where we are in the adoption curve, colorectal we’re in the second quartile. Bariatrics, also the second quartile. Actually cholecystectomy and hernia all in the second quartile in terms of where they are along the adoption curve. And so that obviously gives us some continuing runway to grow, and that’s a driver behind the US general surgery growth rates that we’ve seen. In the international markets, by the way, just in terms of general surgery, for the most part — in most of the larger markets, we’re in the first quarter of adoption. It’s early. What we’re seeing is growth start to stick and those don’t start to be on early growth rates. Particularly in the cancer procedures, colorectal and beyond general surgery in hysterectomy and thoracic.

Gary Guthart: With regard to dV 5, I won’t call out what specific targeting has been. We’ll talk about more about dV 5 when we get a chance to talk about clearance. We do think that it’s something that can help improve outcomes in multiple places. And we look forward to talking to you about that when we have the opportunity. If you have one follow-up, Drew, I’ll take the follow-up. Otherwise, we’ll close the call. So Drew, you have one more?

Drew Ranieri: Sure. Yeah. Just on da Vinci 5. Can you maybe just talk about how it might be able to improve access to hospitals? I know that you have many IDNs that have added more systems, but do you see that more as an opportunity? Or do you see just maybe better access for even smaller hospitals with having multiport systems in the portfolio? Thanks.

Gary Guthart: Yeah. Thank you for the question. We think that having a portfolio of choices makes a ton of sense for hospitals. And this will be a part of that portfolio. We talked about it in the prepared script. Got to give people choice. Some of that choice will have to do with how they view their practice. Some of it may have to do with what their site of care looks like and feels like. So that gives us some optionality and gives our customers optionality. I think that’s really healthy. So thank you, Drew. Appreciate the question.

Gary Guthart: That was our last question. In closing, we continue to believe there is a substantial and durable opportunity to fundamentally improve surgery and acute interventions. Our teams continue to work closely with hospitals, physicians and caregivers in pursuit of what our customers have termed the quadruple aim. Better, more predictable patient outcomes, better experiences for patients, better experiences for their care teams and ultimately, a lower total cost to treat. We believe value creation in surgery and acute care is foundationally human. It flows from respect for and understanding of patients and care teams, their needs and in their environment. At Intuitive, we envision a future of care that is less invasive and profoundly better where diseases are identified earlier and treated quickly so patients can get back to what matters most. Thank you for your support on this extraordinary journey and we look forward to talking with you again in three months.

Operator: Thank you, everyone, for joining today’s conference call. We do thank you for joining. You may now disconnect. Have a good day.

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