Penumbra (PEN) The 44th Annual William Blair Growth Stock Conference summary

Business overview and market segmentation

• Operations span globally with over 4,000 employees and all manufacturing in California.

• Business restructured into thrombectomy, embolization, and access segments for clearer market focus.

• Embolization and neuro access businesses are mature, with strong market leadership and stable growth.

• Thrombectomy segment targets multiple vascular beds, including pulmonary embolism, DVT, ALI, ischemic stroke, and coronary cases.

• Estimated U.S. patient populations: 157,000 for PE, 350,000 for DVT, 260,000 for ALI, and 200,000 for ischemic stroke.

Technological advancements and product launches

• Launch of Lightning Flash 1.0 and 2.0 marked a transformative year, enabling faster, safer, and simpler clot removal.

• Lightning Flash 2.0 features a higher-fidelity algorithm, improving speed and safety in PE cases.

• Lightning Bolt 7 and Thunderbolt leverage computer-controlled aspiration for arterial and stroke cases.

• RED 72 SENDit catheter achieved wide penetration, facilitating access in neurovascular procedures.

• Clinical cases demonstrated significant reductions in procedure times and improved patient outcomes.

Competitive landscape and growth strategy

• Innovation and product performance are key to maintaining leadership amid strong competition.

• Ongoing education and engagement with hospitals are critical to expanding market share.

• Simultaneous focus on competing and preparing for the next phase of growth.

• Acute clot management represents a major opportunity, with over a million U.S. patients annually.

• Confidence in ability to drive adoption and treat more patients through continued innovation.