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
: Great. It's an impressive quarter. I'm trying to figure out where to start. But I think in the U.S. neuro, can you help us understand -- I
mean, it sounds like the RED 72 with the SENDit is really surprising even you internally. Just kind of what's really going on there in
terms of that adoption and then an update on the Thunderbolt? Do you expect to have that trial enrolled by the end of the year? Is
that kind of still on track or get that out end of the year and then launch it in '24?
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AUGUST 01, 2023 / 8:30PM, PEN.N - Q2 2023 Penumbra Inc Earnings Call
Question: William John Plovanic - Canaccord Genuity Corp., Research Division - Analyst
: Good. Well, you preempted half the question. As you think of '23 guidance in the raise, it reflects the quarter not much more. And
I'm kind of wondering how do we think about -- what are you including in the bottom end of the range and the top end of the range
given the outperformance in the quarter and at least to our numbers, it doesn't seem like you're adding much in for the back half
of the year.
Question: Robert Justin Marcus - JPMorgan Chase & Co, Research Division - Analyst
: Great. Maybe to start on peripheral vascular. Looks like U.S. was up 50%. The rest of the business was flat. Maybe you could just walk
through what's going on there trend-wise? Is there a headwind or slowdown in coils, anything outside the U.S. to point to the vascular
business was a little bit below the Street. So just trying to understand great U.S. growth, but what happened to the rest of the vascular
business?
Question: Robert Justin Marcus - JPMorgan Chase & Co, Research Division - Analyst
: And then maybe to just hit on some of the sequencing. You gave us, I believe it was 23% to 25% growth in third quarter, correct me
if I'm wrong, and greater than 30%, in fourth quarter. That's lower and higher than what the Street has for third and fourth quarter.
So maybe just walk us through some of the puts and takes there and your confidence in that greater than 30% number in fourth
quarter.
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