“The low-end of the range assumes further softening and bariatric procedures along with increasing headwinds in Asia from physician strikes in Korea and from delayed tenders in domestic robotic systems in China impacting capital placements and therefore procedure growth.”

In context

“ock-based compensation, amortization of intangibles, litigation charges, and gains and losses on strategic investments. We ended Q3 with cash and investments of $8.3 billion, higher than the $7.7 billion we ended last quarter. The sequential increase in cash and investments reflected cash generated from operating activities partially offset by capital expenditures of $248 million. And with that, I would like to turn it over to Brandon to discuss our updated outlook. Brandon Lamb: Thank you, Jamie. I will now turn to our financial outlook for 2024, starting with procedures. On our last call, we forecasted full-year 2024 procedure growth within a range of 15.5% and 17%. We are now raising the low end from 15.5% to 16% and expect full-year 2024 procedure growth within a range of 16% and 17%. The low-end of the range assumes further softening and bariatric procedures along with increasing headwinds in Asia from physician strikes in Korea and from delayed tenders in domestic robotic systems in China impacting capital placements and therefore procedure growth. At the high end of the range, we assume bariatric stabilizes at current quarter growth rates and headwinds in Korea and China do not get worse. The range does not reflect significant impact to elective procedures as a result of IV shortages or other hurricane-related impacts. Turning to gross profit, we continue to expect pro forma gross profit margin to be within a range of 68.5% and 69% of net revenue. Our actual gross profit margin will vary quarter-to-quarter, depending largely on product, regional, and trading mix and the impact of new product introductions. Turning to operating expenses, on our last call we forecasted full0year 2024 pro forma operating expense growth to be within a range of 10% and 13%. We are now lowering the high-end of our estimate and expect full-year 2024 pro f”