The Company expects revenue for the fourth quarter of 2015 of approximately
Preliminary fourth quarter 2015 instrument and accessory revenue increased approximately 16% to approximately
In 2015, approximately 652,000 surgical procedures were performed with the da Vinci Surgical System, an increase of approximately 14% compared with approximately 570,000 procedures performed in 2014. The growth in overall 2015 procedure volume was primarily driven by the growth in U.S. general surgery procedures and worldwide urologic procedures. da Vinci procedures increased approximately 15% for the fourth quarter of 2015 compared with the fourth quarter of 2014. The Company expects total da
Preliminary fourth quarter 2015 da Vinci Surgical Systems revenue increased approximately 8% to approximately
Preliminary fourth quarter 2015 service revenue of
Additional unaudited preliminary revenue and procedure information has been posted to the Investor Relations section of the
The Company is scheduled to present at the 2016
About the da
The da Vinci Surgical System is a surgical platform designed to enable complex surgery using a minimally invasive approach. The da
This press release contains forward-looking statements, including statements regarding the Company’s unaudited preliminary financial and operational results for the fourth quarter and full year 2015, and expected procedure growth in 2016. These forward-looking statements are necessarily estimates reflecting the best judgment of the Company’s management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These forward-looking statements should, therefore, be considered in light of various important factors, including the following: completion of the Company’s final closing procedures, final adjustments and other developments that may arise in the course of audit procedures; the impact of global and regional economic and credit market conditions on health care spending; healthcare reform legislation in
About Non-GAAP Financial Measures
This press release includes the non-GAAP financial measure of non-GAAP revenue. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with accounting principles generally accepted in
We use non-GAAP financial measures for financial and operational decision-making purposes and to evaluate period-to-period comparisons. We believe that non-GAAP financial measures provide meaningful supplemental information regarding our performance and liquidity. We believe that both management and investors benefit from referring to non-GAAP financial measures in assessing our performance and when planning, forecasting, and analyzing future periods. Non-GAAP financial measures also facilitate management’s internal comparisons to our historical performance and liquidity as well as comparisons to our competitors’ operating results. We believe non-GAAP financial measures are useful to investors both because (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making and (2) they are used by our institutional investors and the analyst community to help them analyze the performance of our business.
Non-GAAP revenue. We define non-GAAP revenue as revenue excluding the impact of reserve adjustments recorded in connection with trade-in rights provided to certain customers in connection with the launch of our da Vinci Xi Surgical System that were accounted for as a right of return.
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