Intuitive Surgical, Inc. (NASDAQ:ISRG) Q2 2021 Earnings Conference Call July 20, 2021 4:30 PM ET Company Participants Calvin Darling - Senior Director of Finance and Investor Relations Gary Guthart - Chief Executive Officer Marshall Mohr - Executive Vice President and Chief Financial Officer Jamie Samath - Senior Vice President of Finance Conference Call Participants Tycho Peterson - JPMorgan Chase & Co. Robert Hopkins - Bank of America Merrill Lynch Amit Hazan - Goldman Sachs Group, Inc. Lawrence Biegelsen ...

Intuitive Surgical, Inc. (NASDAQ:ISRG) Goldman Sachs 42nd Annual Global Healthcare Conference June 9, 2021 1:20 PM ET Company Participants Philip Kim – Head-Investor Relations Marshall Mohr – Intuitive Executive Vice President and Chief Financial Officer Conference Call Participants Amit Hazan – Goldman Sachs Amit Hazan [Call Starts Abruptly] medical technology analyst at Goldman, this is day two of the conference. And, as always, one of the most exciting presentations that we have every year is talking to ...

Summary of Intuitive Surgical, Inc. Annual Shareholders Meeting Company Overview - **Company**: Intuitive Surgical, Inc. (NASDAQ: ISRG) - **Date of Meeting**: April 22, 2021 - **Participants**: Craig Barratt (Chairman), Gary Guthart (CEO), and other board members and management team members [1][2][3][4][5][6] Key Points Discussed Industry and Market Performance - **Procedures**: Over 1.2 million procedures performed in 2020, with a final count of almost 1.25 million [18] - **Installed Systems**: 936 da Vinci systems placed in 2020, with a total installed base of approximately 6,000 systems [18] - **Clinical Studies**: Over 3,000 peer-reviewed clinical journal articles published in 2020, totaling over 24,000 publications [18] - **Market Recovery**: Recovery in the use of da Vinci systems as COVID-19 impacts decline, with a 16% growth in Q1 2021 compared to the previous year [22][23] Financial Performance - **Revenue Growth**: 18% revenue growth in Q1 2021 compared to Q1 2020 [25] - **Future Opportunities**: Estimated 6 million procedures annually that could utilize current products, compared to 1.25 million performed in 2020, indicating significant growth potential [25][26] - **Operating Expenses**: Expected growth in operating expenses between 18% and 22% for the fiscal year [48] Product Development and Innovation - **New Technologies**: Introduction of augmented reality programs (Iris) for preoperative imaging and a single-port system that has seen a 64% year-over-year growth in procedures [38][40] - **Ion System**: Flexible bronchoscopy system (Ion) designed for lung cancer diagnosis, with demand exceeding initial supply capabilities [42][43] - **Investment Philosophy**: Focus on organic innovation, operational efficiencies, and partnerships to enhance product offerings and market reach [44][45] Customer Engagement and Satisfaction - **Net Promoter Score**: Strong customer perception measured by Net Promoter Score, indicating high satisfaction even during the pandemic [35][36] - **Customer Support**: Initiatives to support customers during the pandemic, including financial relief programs and flexible capital arrangements [36][37] Challenges and Risks - **Supply Chain Issues**: Global supply chain stresses, particularly for semiconductor chips, could impact future guidance and operational capabilities [49] - **Regulatory Delays**: Lengthening regulatory timelines for new product clearances in the U.S. and Europe [21] Future Outlook - **Guidance**: Full-year procedure growth expected between 22% and 26%, contingent on the pandemic's trajectory [48] - **Long-term Vision**: Commitment to minimally invasive care as a durable solution, with ongoing investments in innovation and customer relationships [49] Additional Important Information - **Meeting Structure**: The meeting included formal business proposals, including the election of directors and approval of executive compensation [10][12][13] - **Voting Results**: All proposals, including the election of directors and compensation approval, received sufficient affirmative votes [15][14] This summary encapsulates the key discussions and insights from the Intuitive Surgical, Inc. Annual Shareholders Meeting, highlighting the company's performance, strategic direction, and market challenges.

Intuitive Surgical, Inc. (NASDAQ:ISRG) Q1 2021 Earnings Conference Call April 20, 2021 4:30 PM ET Company Participants Philip Kim - Head, Investor Relations Gary Guthart - Chief Executive Officer Marshall Mohr - Chief Financial Officer Jamie Samath - Senior Vice President, Finance Conference Call Participants Amit Hazan - Goldman Sachs Larry Biegelsen - Wells Fargo Bob Hopkins - Bank of America Tycho Peterson - JP Morgan Rick Wise - Stifel Richard Newitter - SVB Leerink Matt Taylor - UBS Operator Ladies and ...

Intuitive Surgical, Inc. (NASDAQ:ISRG) Q4 2020 Results Conference Call January 21, 2021 4:30 PM ET Company Participants Philip Kim - Head, IR Gary Guthart - CEO Marshall Mohr - CFO Conference Call Participants Amit Hazan - Goldman Sachs David Lewis - Morgan Stanley Bob Hopkins - Bank of America Larry Biegelsen - Wells Fargo Tycho Peterson - JP Morgan Richard Newitter - SVB Leerink Operator Ladies and gentlemen, thank you for your patience and holding, and welcome to the Intuitive Fourth Quarter of 2020 Earn ...

Summary of Intuitive Surgical, Inc. Conference Call Company Overview - **Company**: Intuitive Surgical, Inc. (NASDAQ: ISRG) - **Event**: 39th Annual JPMorgan Healthcare Conference - **Date**: January 13, 2021 - **Participants**: Gary Guthart (CEO), Marshall Mohr (CFO), Philip Kim (Head, IR) Key Points Industry and Market Context - **Surgical Procedures**: Over 1.2 million procedures using da Vinci systems in 2020, with a total of more than 8.5 million procedures performed historically [3][4] - **Installed Base**: Almost 6,000 da Vinci systems installed globally, with a clinical library of over 24,000 peer-reviewed publications [4] - **Pandemic Impact**: 2020 was marked by disruptions due to COVID-19, affecting elective surgeries and diagnostic pipelines [7][10] Financial Performance - **Revenue Trends**: 3% drop in revenue compared to 2019, attributed to changes in utilization due to the pandemic [11] - **Recurring Revenue**: Increased recurring revenue, which is expected to continue growing as customers adopt flexible financing options [12] - **System Placements**: Installed base growth of 7% in 2020, indicating a vote of confidence in robotic-assisted surgery despite pandemic challenges [11] Product Development and Innovation - **New Products**: Successful launch of the Ion flexible endoscopy product, with demand exceeding expectations [8][36] - **SP Product Growth**: Single Port (SP) system saw a 64% year-over-year growth in procedures [25] - **Imaging and Analytics**: Introduction of the IRIS program for pre-operative imaging, which is expected to change 20% of kidney cancer surgeries [31][52] Regulatory and Operational Challenges - **Regulatory Delays**: Lengthening regulatory timelines for robotic surgery innovations in the U.S. and Europe, impacting time-to-market and costs [8][13] - **Supply Chain Issues**: Challenges in manufacturing and supply due to COVID-19 quarantines, but efforts are underway to resolve these issues [9] Future Outlook - **Market Potential**: Approximately 20 million surgeries annually in the relevant disciplines, with Intuitive targeting to grow its competitive share from 6 million procedures [14][15] - **Investment Focus**: Continued investment in product quality, ecosystem enhancement, and customer support as the company navigates post-pandemic recovery [38][39] Customer Engagement and Satisfaction - **Net Promoter Score**: High customer satisfaction reflected in a strong Net Promoter Score, indicating positive reception of new innovations and support programs [29][30] - **Learning Systems**: Over 12,000 surgeons engaged in simulation training, enhancing their skills and improving surgical outcomes [37] Market Dynamics - **Bariatric Surgery Growth**: Increased interest in bariatric procedures, driven by patients' awareness of obesity-related health risks during the pandemic [55] - **Cholecystectomy Sustainability**: Continued value seen in Schölly procedures, with high utilization of Firefly technology [57] Additional Insights - **Data Utilization**: Emphasis on using data analytics to improve surgical outcomes and operational efficiencies [18][21] - **Ecosystem Approach**: Focus on creating a comprehensive ecosystem that supports robotic surgery, including training, analytics, and regulatory compliance [18][19] This summary encapsulates the key insights and developments discussed during the conference call, highlighting the company's performance, challenges, and strategic direction in the surgical robotics industry.

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-30713 Intuitive Surgical, Inc. (Exact name of Registrant as specified in its Charter) Delaware 77-0416458 ...