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 ...

Intuitive Surgical, Inc. (NASDAQ:ISRG) Q3 2020 Results Earnings Conference Call October 15, 2020 4:30 PM ET Company Participants Philip Kim - Head, Investor Relations Gary Guthart - Chief Executive Officer Marshall Mohr - Chief Financial Officer Conference Call Participants Tycho Peterson - JPMorgan David Lewis - Morgan Stanley Larry Biegelsen - Wells Fargo Amit Hazan - Goldman Sachs Larry Keusch - Raymond James Bob Hopkins - Bank of America Operator Ladies and gentlemen, thank you for standing by. And welc ...

Intuitive Surgical, Inc. (NASDAQ:ISRG) Morgan Stanley 18th Annual Global Healthcare Conference September 15, 2020 12:30 PM ET Company Participants David Lewis - Morgan Stanley Conference Call Participants Marshall Mohr - CFO Philip Kim - Head of IR David Lewis Well, good morning, good afternoon, everyone depending on your location assuming this morning. Welcome to the Morgan Stanley Healthcare Conference 2020 as we progress through day two of yesterday's exciting meetings. It's my pleasure to have with us h ...

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 June 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 (Stat ...

Intuitive Surgical, Inc. (NASDAQ:ISRG) Q2 2020 Earnings Conference Call July 21, 2020 4:30 PM ET Company Participants Calvin Darling - Senior Director, Finance and IR Gary Guthart - CEO Marshall Mohr - CFO Philip Kim - Head of IR Conference Call Participants David Lewis - Morgan Stanley Tycho Peterson - JPMorgan Bob Hopkins - Bank of America Merrill Lynch Larry Biegelsen - Wells Fargo Larry Keusch - Raymond James Amit Hazan - Goldman Sachs Rick Wise - Stifel Operator Ladies and gentlemen, thank you for stan ...

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 March 31, 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 (Sta ...

Intuitive Surgical, Inc (NASDAQ:ISRG) Q1 2020 Earnings Conference Call April 16, 2020 4:30 PM ET Company Participants Calvin Darling - Investor Relations Gary Guthart - Chief Executive Officer Marshall Mohr - Chief Financial Officer Conference Call Participants David Lewis - Morgan Stanley Bob Hopkins - Bank of America Tycho Peterson - JPMorgan Larry Biegelsen - Wells Fargo Rick Wise - Stifel Larry Keusch - Raymond James Amit Hazan - Goldman Sachs Matt Taylor - UBS Operator Ladies and gentlemen, thank you s ...