“We know for sure that we're getting toward the end of the SI trade-in cycle in the United States. So that will soften some of the US capital.”

In context

“hing that you're actually seeing in your customers delaying planned purchases. Gary Guthart: Yes. Let me take the second question first and then I'll ask Jamie to step in on a little bit more on the trade-in side. So what we're seeing now, where we're at is, a little bit less delay of planned purchases, a little bit less what we're signaling more around -- Q4 demand looks strong. Q1 in terms of the early parts of the pipeline process and some of the contracting, some of the later parts, we're seeing in the US just a little bit lower volume. It may clear itself. It may entirely be that, this was just a pull-forward of a little bit of demand and some budget flushing, as hospitals got ready for the retirement of some of the government support for COVID. But it's not clear. We don't know yet. We know for sure that we're getting toward the end of the SI trade-in cycle in the United States. So that will soften some of the US capital. The final point I'll -- and then there's forecasted additional pressures on hospitals and finances. The short answer to that is, we're going to have to see. We'll see if those come to fruition or not. So that's a little bit of where that lays out. With regard to kind of what does the trade-in ratio look like, let me turn it to you Jamie. Jamie Samath: Yes. If I just look back at last year 2021 there's about 500-ish trade-ins done globally. Of that about 80% were transactions in the US, so you can just kind of get a sense of the degree to which the US has driven the trade-in cycle. As I said in my prepared remarks as of the end of Q1 there's about 268 SIs left in the US in the installed base. And so you can kind of use those two data points to some estimate of how that will play out overt”