The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: William John Plovanic - Canaccord Genuity Corp., Research Division - Analyst
: So there was a lot of discussion on the most recent conference call and the new technologies. And Jason, thanks for joining us up on the podium
for those who -- yes, and that in the audience telephonically.
But let's start with the Thunderbolt in the neurotechnology space. Can you help us understand what you're doing differently? And I think the video
actually helps a lot, but -- and we saw the other catheter up there. But how much -- when you say easier, faster, democratizing, how do you see
this transforming kind of the marketplace? I don't think we've seen a technology like that come to the market yet.
Question: William John Plovanic - Canaccord Genuity Corp., Research Division - Analyst
: Yes. Penumbra has been there since the beginning, right? I mean, you transformed the market, from stentriever, to aspiration, to -- and now you've
got the next generation.
This seems like this is a big product for you. Talk about the approval time lines, but then also the adoption time line. Is this a product that we need
to see a lot of data for adoption? Or is this one you -- like the doc has the a-ha moment. They get it in their hands, they use it, and it's...
Question: William John Plovanic - Canaccord Genuity Corp., Research Division - Analyst
: And then how should we think about the neuro business between now and then? I think last year was a pretty big growth year in the U.S. And this
year, it's slowing a little. How do we think about it?
Question: William John Plovanic - Canaccord Genuity Corp., Research Division - Analyst
: Excellent. And on the RED Series, the last in Neuro, I promise. I think you mentioned towards the back half of this quarter. Is there anything in Europe
holding up that European commercialization? Is it regulatory, or...
Question: William John Plovanic - Canaccord Genuity Corp., Research Division - Analyst
: So wait for the MDR to go through.
Question: William John Plovanic - Canaccord Genuity Corp., Research Division - Analyst
: Okay. Let's shift over to the peripheral. And that was an amazing video. So I think we got the world premiere here, so thank you very much for that.
But on Lightning Flash for venous and Lightning Bolt for arterial, what makes those unique? And how do we compare that? Is there a comparison
to Thunderbolt? Or what's really the advances there? You don't have more videos for us, do you?
Question: William John Plovanic - Canaccord Genuity Corp., Research Division - Analyst
: And I think from a -- which I'd love to have you opine on just the market in general. I think this quarter in the peripheral, we saw a slowdown by a
lot of the players in the peripheral market. And there's some -- we wrote about it, but some thought that maybe, with COVID going away, people
that were doing lytics went to treatment, now are kind of going back to lytics or -- because of staffing. Just any thoughts on kind of -- it was a pretty
big slowdown for the quarter for the sector. This wasn't a company specific, it was really across the board.
Question: William John Plovanic - Canaccord Genuity Corp., Research Division - Analyst
: I know we're out of time, but since we started a little late, I'd like to take 1 more minute here and at least finish on financials.
I think there's a pretty strategic shift for you on this call in terms of discussions about profitability and looking at investments a little more. And I
just -- give us -- you gave us some gross margin projections and tightening up spending a little bit. How should just we think about that in general?
And is there any messaging behind that, since we're behind...
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