Release Date: October 28, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q: Can you provide insights into the core VTE market health as we move into 2025? The street is modeling VTE revenue growth in the low to mid 10s, which seems to lag behind your previous guidance of 18% to 22%. A: Our view is that the market was stable in Q3, with stable underlying market and share dynamics. Our global VTE business grew 20% in the quarter, with a slightly faster growth rate outside the U.S. We see a long runway for continued robust growth within VTE and will keep investing in areas like purpose-built technology, high-quality data, and our commercial footprint to drive this growth.
Q: With the NTAP in place for Lim Flow, what kind of uptick in procedure demand are you anticipating? A: Lim Flow was an important part of the growth in emerging therapies in Q3, growing 60% year-on-year. We saw sequential growth in Lim Flow from Q2 to Q3. We are pleased with the early commercial ramp and view 2024 as a foundation-building year. The NTAP, which went online on October 1, will further enhance the economic value proposition, and we anticipate continued growth into 2025.
Q: What is assumed in your Q4 implied guidance, and could Peerless have an impact? A: We feel good about the business performance, growing 21.4% in Q3 and 22% year-to-date. The $3.5 million raise at the midpoint reflects our confidence. We have several moving pieces, including the Arctic system coming online, Peerless rolling out, and Lim Flow with NTAP. The guidance raise to 22% for the year reflects our confidence in these factors.
Q: Can you discuss the international market development, particularly in China and Japan, and any catalysts we should watch for in 2025? A: We anticipate continued robust growth out of Western Europe, which has been leading internationally. In 2025, we expect more meaningful contributions from other international markets across Asia Pacific and Latin America. We are close to entering China and Japan, with recent progress in regulatory approvals. Both markets will contribute to growth, and we will ramp up efforts as we enter these large Asian markets.
Q: What are your high-level thoughts on Peerless, and how do you plan to leverage positive results? A: We are excited to bring Peerless data to light, as it is the first RCT in the pulmonary embolism space in about 10 years. We anticipate a lot of marketing activity around the announcement and sustained efforts to address unmet needs. A third of patients in the U.S. receiving intervention for PE are getting CDT, and we see a large opportunity to improve patient care and drive revenue.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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