Penumbra (PEN) 44th Annual J.P. Morgan Healthcare Conference summary

Company overview and manufacturing strategy

• Over 4,500 employees worldwide, with products available in 100+ markets; all manufacturing currently in California but expanding to a new 330,000 sq ft facility in Costa Rica by 2027, with an option for an additional 330,000 sq ft.

• Manufacturing co-located with engineering accelerates product iteration and innovation; new facilities in Roseville and Costa Rica support future growth.

• Headquarters in Alameda, with 260,000 sq ft in Alameda and 300,000 sq ft in Roseville.

Market opportunities and business segments

• Total annual U.S. thrombectomy market opportunity exceeds 1,250,000 patients, including arterial, venous DVT, PE, coronary, and stroke cases.

• Thrombectomy and embolization are both significant growth drivers, with sustainable growth in both peripheral and neuro markets.

• Peripheral embolization procedures address 175,000 patients, with 140,000 MMAe patients annually.

• U.S. arterial thrombectomy market has over 250,000 patients, with significant room to convert traditional treatments to mechanical solutions.

• DVT and PE represent the largest patient opportunities, with mechanical thrombectomy penetration still low, especially in PE at around 15%.

Technology and clinical data

• Transitioned from analog catheter/pump systems to advanced Computer-Assisted Vacuum Thrombectomy (CAVT) technology, improving outcomes and speed.

• STORM-PE RCT showed CAVT plus anticoagulation led to a 29.7% relative reduction in right heart strain versus 8% for anticoagulation alone in acute, intermediate-high risk PE.

• CAVT arm had comparable safety to anticoagulation, with fewer major adverse events and 100% technical success.

• Latest product, Flash 3.0, demonstrated device times as low as one minute in clinical cases, highlighting rapid innovation.

• Stroke interventions using RED 72 and RED 43 devices showed pre- and post-procedure improvements in M1 and M2 occlusions.