CLAIM #33033 · Intuitive Surgical Inc (ISRG) · 2022Q3 earnings call · Oct 18, 2022 · due Dec 31, 2023
“I think what we have said with respect to operating expenses in 2023 for the reasons Gary described, the growth rate for that spending will be lower than the growth rate that we experienced in 2022 and a significant component of that is the number of people that we will hire next year.”
Jamie Samath · CFO
In context
“hat is at all is affecting the way either procedures are coming back or demand for system is evolving here? And then into 2023, just curious some of the costs that you have talked about, everyone’s talked about. What -- I know it’s early to ask this kind of question, but your thoughts at this point as to how we should think about those costs evolving in 2023, it’s either sort of rising and staying or rising and then being able to be managed down or just in terms of your cost structure and how it’s increased, any thoughts you have would be greatly appreciated. Thanks. Jamie Samath: Maybe the second part of the question I will take, Matt. So we are not going to give anything specific with respect to 2023 numbers. We will wait until January to do that when we conventionally provide guidance. I think what we have said with respect to operating expenses in 2023 for the reasons Gary described, the growth rate for that spending will be lower than the growth rate that we experienced in 2022 and a significant component of that is the number of people that we will hire next year. And again, what Gary described was, given the employees that we have hired, there’s a period here where we are going to ensure that we effectively onboard those new hires and get them to a state of productivity and this will be a period for us to go through that kind of absorption phase. I will let Gary respond to the first part. Gary Guthart: Yeah. Matt, could you -- I am sorry, I just missed a little bit of that first part of the question. Can you just restate that one? Matt Miksic: Sure. Just in the context of factors affecting the ebbs and flows recovery, what have you of procedures and system -- new system trends, how staffing -- hospital staffing or challenges there are affecting those trends in your business if at all? Gary Guthart: Yeah. Fair question. It’s interesting. I think th”
Verify independently
SEC filings for ISRG ↗ · Claim quote is verbatim from the 2022Q3 earnings call.