CLAIM #33217 · Intuitive Surgical Inc (ISRG) · 2024Q3 earnings call · Oct 17, 2024 · due Dec 31, 2024
“We are increasing our estimate for other income, which is comprised mostly of interest income, to total between $325 million and $345 million in 2024.”
Brandon Lamb · Investor Relations
In context
“ct 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 forma operating expense growth to be within a range of 10% and 12%. We expect non-cash stock compensation expense to range between $670 million and $690 million in 2024. We are increasing our estimate for other income, which is comprised mostly of interest income, to total between $325 million and $345 million in 2024. With regard to capital expenditures, we continue to estimate a range of $1 billion to $1.2 billion, primarily for planned facility construction activities. With regard to income tax, we expect the pro forma income tax rate for 2024 to be within a range of 22% and 23% of pre-tax income. That concludes our prepared comments. We will now open the call to your questions. Operator: Thank you. [Operator Instructions] And we'll go to the first question in queue. Travis Steed, Bank of America. Please go ahead. Travis Steed: Maybe just a little more on thinking about the DV5 ramp between now and the mid-2025 broad launch, do you expect to make any more upgrades or add software? And I'd love to dig in a little bit on the customer reactions to some of the contribution margin benefits, contribution m”
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SEC filings for ISRG ↗ · Claim quote is verbatim from the 2024Q3 earnings call.