Intuitive Surgical, Inc. (NASDAQ:ISRG) Q4 2023 Earnings Call Transcript January 23, 2024 4:30 PM ET

Company Participants

Brian King - Head of IR

Gary Guthart - CEO

Jamie Samath - CFO

Conference Call Participants

Larry Biegelsen - Wells Fargo

Travis Steed - Bank of America

Robbie Marcus - JPMorgan

Rick Wise - Stifel

Adam Maeder - Piper Sandler

Drew Ranieri - Morgan Stanley

Operator

Thank you everyone for standing by. Welcome to the Intuitive Fourth Quarter 2023 Earnings Call. At this time, all participants are on a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions] I will now turn the call over to your host, Head of Investor Relations, Brian King. Please go ahead.

Brian King

Good afternoon and welcome to Intuitive’s fourth quarter earnings conference call. With me today we have Gary Guthart, our CEO, and Jamie Samath, our CFO.

Before we begin, I would like to inform you that comments mentioned on today's call may be deemed to contain forward-looking statements. Actual results may differ materially from those expressed or implied as a result of certain risks and uncertainties. These risks and uncertainties are described in detail in our Securities and Exchange Commission filings, including our most recent Form 10-K filed on February 10, 2023, and Form 10-Q filed on October 20, 2023. Our SEC filings can be found through our website or at the SEC's website. Investors are cautioned not to place undue reliance on such forward-looking statements. Please note that this conference call will be available for audio replay on our website at intuitive.com on the events section under our investor relations page. Today's press release and supplementary financial data tables have been posted to our website.

Today's format will consist of providing you with highlights of our full year and fourth quarter results as described in our press release announced earlier today, followed by a question-and-answer session. Gary will present business and operational highlights. Jamie will provide a review of our financial results. Then I will discuss procedure and clinical highlights and provide our financial outlook for 2024. And finally, we will host a question-and-answer session.

And with that, I will turn it over to Gary.

Gary Guthart

Thank you for joining us today. I'll touch on our performance last quarter and for the full year 2023 and share our perspective on 2024. The past year was a good one for Intuitive with use of our platforms growing nicely, hospitals building additional system capacity to support that growth and increased average utilization per system per year for each of our platforms. Our teams have been delivering to meet customer demand, driving quality and availability improvements, running clinical trials and readying new products and services for the market. We'll touch on a few of those efforts on this call.