Intuitive Surgical, Inc. · NASDAQ:ISRG
Intuitive Surgical — Q2 2023 Earnings Presentation
21 slides from Intuitive Surgical's earnings presentation, Jul 20, 2023
Slide 1: Investor Presentation Q2 2023
Investor Presentation Q2 2023 © 2023 Intuitive Surgical Operations, Inc. 1
Slide 2: Forward-looking statement
Forward-looking statement These slides and any accompanying oral presentation by Intuitive Surgical, Inc. contain estimates and forward-looking statements. Actual results may differ materially from those expressed or implied as a result of certain risks and uncertainties. These risks and uncertainti
Slide 3: Our mission and vision
Our mission Our vision We believe that We envision a future of minimally invasive care care that is less invasive is life-enhancing care. and profoundly better, Through ingenuity and where diseases are intelligent technology, identified early and we expand the potential treated quickly so of physici
Slide 4: Intuitive by the numbers
Intuitive by the numbers 1,800,000+ 3,000+ 1,200+ Procedures performed Peer-reviewed articles Da Vinci systems on da Vinci® systems in 2022 published in 2022 placed in 2022 13,000,000+ 34,000+ 8,000+ Procedures performed on Peer-reviewed articles Da Vinci systems in da Vinci systems to date* publish
Slide 5: Worldwide procedure trend
Worldwide procedure trend 2,500,000 2,250,000 18% 2,000,000 growth 1,750,000 15% CAGR 1,500,000 1,250,000 1,000,000 750,000 500,000 250,000 2017 2017 2018 2018 2019 2019 2020 2020 2021 2021 2022 2022 2023 Urology Gynecology General Surgery Other © 2023 Intuitive Surgical Operations, Inc. 5
Slide 6: Worldwide capital trend
Worldwide capital trend System placements Installed base +12% 1,600 8,000 YoY 1,400 7,000 11% CAGR 1,200 6,000 1,000 5,000 800 4,000 600 3,000 400 2,000 200 1,000 2019 2020 2021 2022 (est) 2022 2019 2019 2020 2021 2022 (est) 2022 Greenfield/Incremental Trade-in United States Europe Asia Rest-of-worl
Slide 7: Procedure growth drivers
Procedure growth drivers + 18% YoY growth overall + 25% YoY growth OUS non-urology + 22% 2022 YoY growth U.S. general surgery procedures All other 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 © 2023 Intuitive Surgical Operations, Inc. 7
Slide 8: Customers continue to reinvest
Customers continue to reinvest Phase 1 IDNs globally with 20+ systems Adopt 19% ~ Phase 2 YoY 2023 Q2 Q3 Q2 Q4 Q2 Q3 Q4 Q2 Q3 Q4 Q2 Q3 Q4 Q2 Q3 Q4 Q2 Q3 Q4 Q2 2017 Q1 2018 Q1 2019 Q1 2020 Q1 2021 Q1 2022 Q1 2023 Q1 Operationalize Phase 3 Standardize Hospitals globally with 7+ systems 69% ~ YoY 2023
Slide 9: 2023 priorities
2023 priorities Accelerate access to and quality of MIS by driving: Increased utilization Innovation— Continuity of supply, Increased productivity in focus procedures Expanded indications, product quality and in functions that by country through and launches of our services provision as benefit from
Slide 10: Business Overview
Business Overview © 2023 Intuitive Surgical Operations, Inc. 10
Slide 11: Systems and Learning Services
Intuitive advances what’s possible in minimally invasive care, expanding care team abilities to help improve patient outcomes. Systems Precise, powerful systems designed to extend capabilities for minimally invasive care Learning Services Technical and program A progressive learning pathway consulta
Slide 12: Comprehensive and Integrated Ecosystem
Comprehensive and Integrated Ecosystem Systems Learning Services Instruments Online education Support services Technology training Clinical studies and Stapling economics analysis Continuing Patients, surgeons, Surgical systems education System maintenance and hospitals Peer-to-peer education Progra
Slide 13: Da Vinci SP, Da Vinci Xi, Ion
Da Vinci SP® Da Vinci Xi® Ion © 2023 Intuitive Surgical Operations, Inc. 13
Slide 14: © 2023 Intuitive Surgical Operations, Inc.
© 2023 Intuitive Surgical Operations, Inc. 14
Slide 15: Recurring Revenue Model
Recurring Revenue Model Revenue Trend (USD, in millions) $7,000 $6,000 System Sale or Sales-Type Lease da Vinci Surgical Systems ASP of $0.5M – $2.5M $5,000 $4,000 79% Instruments and Accessories $600 – $3,500 per da Vinci procedure $3,000 Services $2,000 $80K – $190K per year for da Vinci Surgical
Slide 16: Q2'23 Results
Q2’23 Results © 2023 Intuitive Surgical Operations, Inc. 16
Slide 17: Q2 2023 Results
Q2 2023 Results 22% $1.76 Procedure growth Y/Y Billion in revenue (15% Y/Y) 13% 68.5% Da Vinci Installed base growth Y/Y Pro-forma gross margin 331 $1.42 Da Vinci systems placed Pro-forma EPS © 2023 Intuitive Surgical Operations, Inc. 17
Slide 18: Da Vinci System Installed Base
Da Vinci System Installed Base 8,042 worldwide as of June 30, 2023 4,805 3,237 United States Outside of the United States © 2023 Intuitive Surgical Operations, Inc. 18
Slide 19: Environmental, Social and Governance
Environmental, Social and Governance © 2023 Intuitive Surgical Operations, Inc. 19
Slide 20: ESG
ESG Outcomes-focused innovation to enhance physician and care team performance, efficiency, and to improve patient outcomes are at the core of what Intuitive does as a business. It is also a vital alignment for our environmental sustainability, social responsibility, and governance transparency work
Slide 21: intuitive.com
intuitive.com