Penumbra, Inc. (PEN) Piper Sandler 37th Annual Healthcare Conference December 3, 2025 8:00 AM EST
Company Participants
Adam Elsesser – Co-Founder, Chairman & CEO
Shruthi Narayan – President
Conference Call Participants
Matthew O’Brien – Piper Sandler & Co., Research Division
Presentation
Matthew O’Brien
Piper Sandler & Co., Research Division
All right. Good morning, everybody. Thanks so much for joining us. My name is Matt O’Brien. I’m one of the med-tech analysts here at Piper Sandler. Picking up day 2 here with a phenomenal company in Penumbra. From the company, we have Adam, who’s the CEO; Shruthi, who is the President of the company. We’re also joined by Arani, who is one of the co-founders, and then Cecilia and Jason are in the audience as well. Thank you so much for coming all the way across the country to be with us.
Adam Elsesser
Co-Founder, Chairman & CEO
Happy to be here.
Question-and-Answer Session
Matthew O’Brien
Piper Sandler & Co., Research Division
So can we start with what happened in Q3, especially in the embo and access business. As I was saying to you earlier, it was so good, I actually thought there was a mistake in that press release. But just talk about the strength that you saw there, splitting the sales force, and then just the durability of that growth, because I think that’s being underappreciated by investors.
Adam Elsesser
Co-Founder, Chairman & CEO
Yes. Well, Shruthi, why don’t you start with the sales force and why we did it, and then some of the new products and all that?
Shruthi Narayan
President
Yes. So towards the end of last year, we saw this growing sort of interest in the CAVT portfolio, the franchise. And to get our team to be 100% focused on that, we said, now is a good time to actually expand and add
