“With respect to going direct in Italy, Spain, Portugal, we continue to expect that to be slightly accretive to pro forma EPS upon going direct.”

In context

“nk we'll see because it's so early with respect to the da Vinci V launch. Larry Biegelsen: That's super helpful. Jamie, on margins, excuse me, it looks like the implied gross margin in Q4 at the midpoint of the guidance range is slightly below 67%. So my question is on next year. Just what are some of the puts and takes to consider? Is that kind of Q4 number a good starting point for next year for the gross margin? Or are there additional headwinds or tailwinds to consider? And any directional color on the impact of going direct in those three markets you called out? Net positive, negative, or just anything directional? Thank you. Jamie E. Samath: Yes. I understand the question on gross margins for '26. Larry, we're going to wait till January to provide color on what the outlook is there. With respect to going direct in Italy, Spain, Portugal, we continue to expect that to be slightly accretive to pro forma EPS upon going direct. And that's really a function of eliminating the margin of the distributor, and that gets partially offset by the team that we take on the transfers from them to us. Larry Biegelsen: Alright. Thanks so much, Jamie. Operator: Thank you. And our next question comes from the line of Rick Wise from Stifel. Your question, please. Rick Wise: Good afternoon, everybody. Thanks for another stellar quarter. I guess I'll start with let me start with two softer areas that you talked about, David J. Rosa. The downward pressure on the bariatric side and China, you just described the environment as constrained and competitive. Maybe you could talk about both of these. And when do we get past the when is bariatrics less of a drag? Seems like it's been going on for a while. We should be almost largely over”