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JP Morgan Healthcare

Conference 2016

Gary Guthart
President and CEO

Forward Looking Statement


These slides and any accompanying oral presentation
by Intuitive Surgical, Inc. contain estimates and
forward-looking statements. Actual results may differ
materially from those expressed or implied as a result
of certain risks and uncertainties. These risks and
uncertainties are described in detail in the Companys
Securities and Exchange Commission filings.

Agenda
2015 Review
da Vinci Value
Opportunities/Catalysts

2016 Priorities

2015 Commentary
2015 Objectives
Expanding da Vinci in general
surgery, particularly colorectal
surgery and hernia repair
Filling out our product line for
da Vinci Xi and launching in key
markets globally
Developing our organizational
capabilities and markets in
Europe and Asia
Advancing our technologies to
improve surgery
Lowering our direct product costs

Areas of Strength
General surgery growth
International procedure
growth
da Vinci Xi product line
and feature set
Growing acceptance of
robotic -assisted surgery
Extensive, established
da Vinci ecosystem

Challenges
Structural barriers in
some markets
Single-Site procedures

Worldwide Procedure Trend


2016 Guidance:
9-12% Growth

800,000
2015:
14% Growth

700,000
600,000
500,000
400,000
300,000
200,000
100,000
0
2010

2011

Urology
Company estimates

2012
Gynecology

2013

2014

General Surgery

2015
Other

2016

US Procedure Trend
+11%

500,000
400,000
300,000

200,000
100,000
0
2010
Urology
Company estimates

2011

2012
Gynecology

2013
General Surgery

2014

2015
Other

OUS Procedure Trend


160,000

+26%

140,000
120,000
100,000
80,000
60,000

40,000
20,000
0
2010

2011

Europe
Company estimates

2012

2013

Asia

Rest of World

2014

2015

System Placement Trend by Region


160

2015 +14%

140
120
100
80
60
40
20
0
Q1

Q2

Q3

Q4

Q1

2014
U.S.

Q2

Q3
2015

Europe

Asia

Rest-of-World

Q4

System Placement Trend by Platform


160

2015 +14%

140
120
100
80
60
40

20
0
Q1

Q2

Q3

Q4

Q1

2014

Q2

Q3
2015

Xi

Si

S / Sie

Q4

Total Revenue*
$2,500
2015
70%
Recurring

$2,000
$1,500
$1,000
$500
$0
2010

2011
Systems

*Dollar amounts in millions

2012
Service

2013

2014
Inst & Accy

2015

Multiple Segment Product Offering


2015: $1.54M

da Vinci Si-e
$0.6M

da Vinci Surgical System ASP


2015: $1,840

Single-Site
$700

Inst & Accy Rev Per Procedure

Dual Console Xi
Firefly
$2.5M Table Motion

Endowrist
Vessel Sealer
$3,200 Stapler

2015: $138K

da Vinci Si-e
$100K

Annual Service Rev Per System

Includes company estimates and approximate ranges

Dual Console Xi
$170K

DA VINCI VALUE

Comprehensive Cost of Care


Instrument and accessory costs
Capital costs
OR time costs
Length of stay
Conversions to open surgery
Complications

Readmissions
Surgical site infections (SSI)

da Vinci Ecosystem
Family of da Vinci Systems

3D HD Imaging,
Fluorescent Imaging

Integrated Energy,
Stapling, Vessel Sealing

10,000 Peer-Reviewed Publications


1700+ Comparative Studies

~1400 Skill Simulators,


Dual Surgeon Consoles
24/7/365
Comprehensive
Support
40+ Training
Course Offerings

Analytics and
Efficiency Programs

OPPORTUNITIES AND CATALYSTS


FOR GROWTH

Open Surgery Remains Common U.S.


Yr: 2004
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
Prostate

Malignant Benign Hyst


Hyst
Robotic

Source: ISI estimates and third party data

Other MIS

Open

Open Surgery Remains Common U.S.


Yr: 2015
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
Prostate

Malignant Benign Hyst


Hyst
Robotic

Source: ISI Data as well as Estimates

Other MIS

Open

Open Surgery Remains Common U.S.


Yr: 2015
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
Prostate

Malignant Benign Hyst Colorectal


Hyst
Robotic

Source: ISI estimates and third party data

Other MIS

Open

Ventral
Hernia

Thoracic

Total Procedure Markets


As many as 4 million procedures available for
products on the market today in countries for
which we have clearances
Over time, international opportunity will be
greater than U.S.
Roughly half of opportunity based on
underlying cancer as cause

ISI Investments
Advanced imaging
Advanced instrumentation and computerenhanced precision at tissue
Less invasive access
Training technologies
Next generation robotic technologies
International organization
Continued clinical and economic validation

Building da Vinci Xi Value:


New Xi Products / Markets

Vessel Sealer and Firefly launched 2014


Korea Clearance Q4 14
45 mm Stapler launched Q1 15
Clearance in Japan end of Q1 15
Harmonic curved shears and other new
instruments FDA Cleared Q215
Table motion CE Marked and 510(k)
submitted in Q2 15
Single-Site 510(k) submitted Q3 15
30 mm Stapler 510(k) submitted Q3 15

da Vinci Sp

Video plays at an accelerated speed.

2016 PRIORITIES

2016 Priorities
Expand da Vinci in thoracic and general surgery,
particularly colorectal surgery and hernia repair
Advance key technologies extend our product
leadership position
Drive international performance and strengthen
our organization
Maximize total-cost-to-treat value for customers