“Second, as we move into broad launch of da Vinci 5 in the middle of the year and customers have the opportunity to upgrade their fleets, we would expect trading credits for [Xi] (ph) to be significantly higher than recent periods adversely impacting system ASPs.”

In context

“ue to several dynamics. First, as previously stated, leasing rates are expected to be higher than Q4, which results in revenue and profits for related system placements to be recorded over multiple years versus in the quarter of placement. Second, we anticipate significantly higher depreciation expense given recent capital expenditures. And finally, we expect a higher mix of da Vinci 5, Ion and SP revenue, which carry product margins below the corporate average. In addition, from a modeling perspective, I would also highlight a couple of additional considerations. First, revenue denominated in non-USD currencies represents approximately 25% of our total revenue. On a revenue-weighted basis, using current exchange rates, the US dollar is approximately 4% stronger than rates realized in Q4. Second, as we move into broad launch of da Vinci 5 in the middle of the year and customers have the opportunity to upgrade their fleets, we would expect trading credits for [Xi] (ph) to be significantly higher than recent periods adversely impacting system ASPs. Finally, given the increasing choice customers have, as competitors bring robotic systems to the market and seek geographical clearances, we may see capital selling cycles lengthen as customers evaluate alternatives. Brandon will provide our outlook for 2025 later in this call. And with that, I would like to turn it over to Dan. Daniel Oh: Thank you, Jamie. I'd like to share with you some recently published peer review literature that we found to be notable. In addition to the specific data highlighted on this call, we encourage you to consider the wide body of evidence detailing these topics in published scientific studies over the years. Today, we'll give an update on two recent publications. In the first study, Dr. Rocco Ricciardi and colleagues from the Massachusetts General Hospital”