Perfect. Thank you everyone for joining. Kallum Titchmarsh here from the MedTech team at Morgan Stanley. Delighted today to be joined with the Inari Medical team. We've got Drew Hykes, CEO, Mitch Hill, CFO, Kevin Strange, SVP, Finance, Strategy, and BD, and the incoming CFO, and then Tom Tu, Chief Medical Officer. Thanks, gentlemen. Good to be here. Great to be here. So before we talk about 2024 and market trends, wanted to spend some time addressing recent questions around ClotTriever XL. Firstly, talk to us a bit more, maybe Dr. Tu, around the the platform, what drove the recall, which subset of patients that's relevant to, and why you don't expect this to have any revenue impact. Yeah. Drew can probably start, and then I'll- Okay. - Add some detail. So just to level set, CTXL was a product that we developed to address unmet needs in a very specific group of patients that we call complex DVT. So these are patients that not only have clot in their iliofemoral segment, but clot extending up into their IVC. Large volumes of clot, high-risk patient population. About 10%, we believe, of DVT patients have that kind of presentation. We developed CTXL specifically for that unmet need, brought that product to market about 18 months ago, and in the intervening period of time, have done about 1,500 cases with CTXL. Along the way, we identified a safety signal, that we tracked pretty closely. It is a very specific combination of a type of presentation and a procedural technique. Tom can talk more about that. But in any case, given that safety signal, we decided voluntarily in July to make an update to the IFU, the labeled indication, the instructions for use of the product, and we voluntarily began to execute that field action in July, and are now five, six weeks into that activity. The FDA last week or now 10 days ago, their process caught up with our voluntary action. We've been working with the FDA collaboratively along the way, but they posted that information on the FDA website. No changes. Exactly what we had rolled out in July. But nonetheless, that FDA posting did pick up some media activity that I think has generated some questions. Bottom line, nothing has changed relative to what we shared back in July, and we continue to not see any revenue impact from this product, and the product, again, will remain on the market. This is simply an IFU change, so maybe with that, Tom, you want to add any additional context? Yeah, a couple things worth pointing out. Number one, this is not related to a device defect. It's not related to malfunction. This is simply a group of patients with a particular type of lesion and coupled with a certain technical approach that we messaged about. FDA was very happy with us, that we voluntarily came to them with this knowledge, and worked collaboratively with us to develop a communication plan regarding this. I would also like to point out that this has nothing to do with the coring element mechanism of action. I think there's been some intentional confusion put into the space by perhaps competition, about this somehow reflecting on the ClotTriever approach, and none of these safety events had anything to do with the coring element, which again distinguishes, I think, this labeling update to ClotTriever XL only, not the ClotTriever family of products, first of all. And secondly, even with ClotTriever XL, this has more to do with the doctor's choice to pull the clot either upwards or downwards, and what we messaged was that when you see a particular type of lesion, to ensure that you pull downwards to reduce safety events. Got it. And then another topic, a bit of competitive noise on FlowSaver, I believe, recently, and filtered blood return, more specifically. Talk through the science behind the product, and whether you've heard any concerns in the field from this. Yeah. Yeah, happy to address that as well. First of all, it's interesting that we're hearing about FlowSaver. I think, again, we're not hearing any of this from physicians, so this, again, is likely competitive noise. Just as a reminder, pulmonary embolism patients are particularly sensitive to blood loss and transfusions because of the stress of the condition that they're in. We mitigate blood loss through two different primary mechanisms. One is that FlowTriever removes blood in sixty cc aliquots using the syringe, so the physicians have very tight control over how much blood they remove. About three years ago, we introduced really a game-changing product into the space called FlowSaver, and that's a blood filtering system that takes the aspirated blood and then filters the clot out and then allows return of that blood back to the patient. This has been rigorously studied. You can't get any blood return product through FDA without intense scrutiny. It's been used in 70,000 patients now, plus it's used in over 90% of our FlowTriever cases, and there's been numerous clinical studies touting its advantages in treating patients with PE. In fact, I just came from London at the European Society of Cardiology meeting, where a 4,000 patient study was presented, independent- completely independent from Inari, showing that when FlowSaver was used, there was less mortality and less transfusion than when FlowSaver's not used. So, we're very pleased with that product. Are you aware of any upcoming publications around filtered blood return? I think the concern was there would be data at PERT. Yeah ... September. Yeah. Anything you've heard of? There's, you know, always competitive messaging, but to be honest, all of the publications we've seen about FlowSaver have been remarkably positive. So, we're very pleased to bring high-level data and real science to the space. Love it. Okay, now that's out of the way, let's track back to the business. Q2 results specifically. Small beat versus our expectations. You talk us through the key drivers of growth through Q2 specifically, I think 23% top line growth for the group. Anything you'd flag that stood out? Yeah, so a strong first half of the year capped by Q2. We grew 23% top line in Q2, 23% through the first half of the year. I think we saw strength across all three parts of the business in Q2, VTE, large part of our business, grew 21% in the quarter. We saw strong contributions from emerging therapies led by VenaCore and our CVD business, and LimFlow as well. And then another strong quarter of international growth as well contributed to that Q2 performance. All of that was against the backdrop of what is typically some seasonal headwinds that we encounter in Q2. That was no different this year. As the weather warms in the northern hemisphere in the springtime, patients get out and begin ambulating again, cold and flu season tapers off. So we did see some of those headwinds, and nonetheless delivered a strong Q2, and I think we feel confident about how we're positioned here heading into the back half of the year with a strong first half beginning. Got it. I think the street's shaken out at about $150 million for Q3, which is about 3% sequential growth. Comfortable with that number? Anything that stood out so far, July, August? Yeah. So no changes in the commentary that we shared coming out of Q2. We saw good momentum as we exited the quarter. Historically, some of those seasonal headwinds that I described invert, and we see strengthening seasonal trends as we move through the back half of the year. We see a number of catalysts out ahead of us. We can talk more about here on the back half of the year, Artix, PEERLESS, of course, NTAP coming online with LimFlow, China, Japan. So some nice catalysts that we think will continue to contribute to growth here in the second half of the year. Great. And there's a lot of doctors we speak with who, in their eyes, are performing as many thrombectomies as they possibly can in VTE right now. But I think you mentioned recently that the bulk of your growth is coming from increased utilization, in existing accounts versus, you know, adding more accounts on. Help us understand the distribution of treatment penetration across accounts today and how much scope there is to increase that, looking ahead. Sure. So just to level set, we're in about 1,700 accounts, across the U.S. We have long since passed the point where simply adding new accounts at the top of the funnel, could drive meaningful growth for us. So for some time now, we've been dependent on driving growth by increasing adoption and penetration at our existing accounts. You've heard us talk about VTE Excellence. That is a comprehensive market development program, we have created over the last couple of years, designed to do just that, to drive penetration, and adoption at existing accounts and unlock this massive patient population that's there in the hospital. They're just not being systematically identified, risk stratified, and brought forward to a group of docs that really understands the disease. So if you looked across those 1,700 accounts, the vast majority of our accounts are in the earliest phases of that VTE Excellence program, what we call the Engage phase. In that phase, that market development activity, that playbook, is focused on establishing the foundation, raising awareness, engaging with the initial group of interventionalists, treating those patients. We ensure that the coding and billing is being done correctly, working with the coding and billing team at the hospital. All of that kinda sets the stage in that first phase. The penetration of the TAM level in that group of Engage accounts is in the low single digits, just getting started. From there, we graduate to the second phase that we call Empower. We've got a couple hundred accounts that have graduated to that phase, and the playbook there begins to look more like spreading awareness, not only amongst the interventionalists, but amongst the non-interventional stakeholders that care for these patients. We spend a lot of time engaging with admin and making sure they understand the economic value proposition in that phase. TAM penetration in that group of Empower accounts is in the double-digit range. And then finally, the third and final phase, what we call Excel, those are the programs that are farthest along, programs that are focused on establishing care algorithms. They've got VTE coordinators, many of them in place. Many of them are utilizing AI-based platforms to ensure these patients aren't missed. The TAM penetration in that group of accounts, at the median, is something in the neighborhood of 20%, but the highest performing accounts in that group are north of 50%. So there's evidence here that as we execute this playbook, we are having success at moving accounts along that continuum and in the process, driving deeper and deeper penetration into the TAM. Great. And then pillar one, expecting the data at TCT later in the year. Remind us how much share CDT has of endovascular intervention in PE, and the excitement may be behind that from the docs and accounts you speak with today? Sure. Thanks. So if you look at the world of pulmonary embolism, we define our market as pulmonary embolism associated with right heart strain or other features that increase your risk of mortality. So that's our defined TAM. Within that TAM, we think intervention of any sort may be around 15%-20%. So 85% of those patients are treated just with conservative management. And then of the interventional subset, CDT, which is a legacy therapy, still is performed in up to 30% of patients. So I think that's really the focus of PEERLESS One, which is a randomized controlled study looking at FlowTriever versus catheter-directed thrombolysis for those pulmonary embolism patients. I think it's notable for several reasons. One is, it's the first RCT that we're bringing to the space, and the first randomized controlled trial in pulmonary embolism in years. So I think there's a lot of excitement because of the high-quality nature of this investigation. Secondly, it really hallmarks what I like to call the golden era of data generation in this space, right? PEERLESS One is simply the first in a series of RCTs. We're bringing several to the space, as well as some others from governmental bodies and some competition. So I think similar to heart attack, stroke, aortic stenosis, other major cardiovascular disease states, what you see is when there's a lot of RCT data coming out, you see a complete shift in terms of the acceleration of the TAM penetration. And then lastly, I think the high-quality nature of the endpoints. You know, up until this point, competitors have really brought pretty, you know, soft endpoints, surrogate markers, imaging endpoints. We have hard clinical endpoints in this study: mortality, major bleeding risks, clinical deterioration, ICU utilization. These are endpoints that are meaningful to patients, to doctors, and to hospitals. Are you expecting mechanical thrombectomy to quite rapidly take share from CDT straight after PEERLESS? Is that quite an instantaneous thing? Yeah. We've been taking market share from CDT all along. Yeah. But now that we have RCT-level data, and if it shows that FlowTriever is superior to catheter-directed thrombolysis, then I think what you'll see is those last remaining holdouts who are, you know, generally either late on the adoption curve or pure academics who want to see RCT-level data to inform shift in decisions, will shift. We'll see that as a Q4 potential tailwind, as well as probably the bulk of the shift will be a 2025 event. Understood. And then, you know, sticking with the core business, from the data we get through, seems market share has been pretty stable so far this year. Potentially some more entrants coming through in 2025. Yep. How do you anticipate new entrants potentially impacting your share position? And I guess what makes you confident of maintaining, you know, the leadership mark today? So I do think shares have been stable here through the first half of the year. We see competitive activity in the market. We see new entrants attempting to come to the market. We see some competitors exiting the market. Boston Scientific, for instance, as you know, wrote off the Devoro acquisition here recently. Despite that competitive activity, we remain the market leader. We believe a 4x-1x lead in PE, 1.5x-2x lead in DVT. So despite the competitive noise, we remain focused on developing the market. We remain focused on continuing to lead in the market, and I think we're confident in continuing that position as we move forward. And I think that confidence stems first and foremost from the performance of our purpose-built tools. They do a great job of removing all the clot, acute and chronic, in safe, efficient procedures with minimal to no blood loss. We have confidence in the high-quality evidence getting stronger by the day, and as of this fall, we'll include RCT data. We have confidence in the commercial engine that we've built and the expertise of the team we've deployed across the country. Confidence in the robust IP portfolio that we've begun to have more activity around. And finally, confidence in this highly differentiated approach to market development that you heard me describe. I think all of that gives us confidence that we're going to continue to lead in this market, and we're in the earliest innings of continuing to convert the standard of care away from conservative medical management to frontline treatment with FlowTriever and ClotTriever. And then, you know, looking ahead, that 18%-22% market growth that you've alluded to in the U.S., specifically, how sustainable do you think that is over the midterm? And what are the core drivers of keeping that in that range, do you think? We see plenty of runway out ahead for continued robust market growth, given how early, again, we are in the conversion. We've seen this same evolution take place in stroke and STEMI. We think we're in the earliest innings of converting VTE away from anticoagulation, away from lytic-based interventions to frontline treatment with FlowTriever and ClotTriever. As a result, we see plenty of runway for continued robust growth. There's going to be fluctuations quarter on quarter, but that kind of neighborhood of 20%, you've heard us describe in the past, that's still our view, and we see lots of runway for that to continue over time. I think the things that are going to drive that are exactly the areas you've seen us invest time and resources on. It's high-quality evidence, it's on education awareness, it's on grassroots, market development, it's on deploying a group of people that really understand not only our technologies, but the disease state in general. I think all of those things over time are going to continue to drive that, robust market growth. And then we still get questions on the VTE PPP. So just remind us the cases that this would be used for, how the product is priced, how it's reimbursed, I mean, any feedback you get from physicians on the offering. Hey, Kevin, maybe you want to? Sure. So just as a reminder, the VTE PPP stands for Price Per Procedure. This is a program that Inari developed that is unique to Inari, and it was sort of born out of feedback that we received from clinicians at some of our most advanced centers throughout the U.S. that were doing complex cases, and were using pieces of the FlowTriever system as well as pieces of the ClotTriever system to fully and completely treat these patients and their disease. Obviously, when you use multiple pieces of different systems, the price can stack up a bit, right? So we developed the VTE PPP, which allows physicians essentially to be able to use any tool that they want from either the FlowTriever or the ClotTriever toolkits at one set price. So it essentially allows them to be able to have predictability and consistency of pricing, regardless of how complex a procedure may be. We're at roughly about 40% of our accounts, across the U.S., have adopted the VTE PPP, and the feedback from clinicians has been very positive. How is that growing, I guess? Any numbers you can give us on the VTE PPP growth? Yeah, it's a gradual conversion. So I don't think we've put any specific expectations on where we think it can go over time, but we continue to offer it to accounts. Moving forward, we'll continue to see some expansion going forward. And like we said, it's a unique offering that we have that differentiates us, and the feedback from clinicians has been very positive. Because, again, it allows them to be able to have the predictability of pricing and and not have to really think about all the different tools that they're using. Understood. And then on new products, LimFlow, NTAP coming into play in October. We speak with a lot of centers that are already performing these cases today. So how evident do you think that ramp-up will be once the NTAP kicks in? Sure. So, just as a reminder, so we closed the LimFlow transaction about 10 months ago. From an integration perspective, we feel really good about where we are, and then the progress we've made over the last several months. Commercially also, out of the gates, we're really pleased, with the commercial traction that we're seeing and the interest among physicians. You've heard us describe, 2024 as a foundation building year, for LimFlow, and it very much is that. We're in the process of getting through VAC committees. We're training physicians on how to do the procedure. We're ensuring that we're choosing the right patients to do the procedure on, so we're getting really good, robust, clinical outcomes. So really pleased with what we're seeing, out of the gate. Reimbursement has not been much of an impediment out of the gate. Existing reimbursement, where it is today, which we're really pleased with. Of course, when you add on a $16,000 incremental NTAP, as you noted, Kallum, that would be a nice tailwind for us heading into 2025. So we feel good about the setup here heading into the end of the year. We, you know, as we've discussed in the past, feel really good about LimFlow overall as a meaningful growth driver for the company over time. From my understanding, at least from the careers website, it seems the commercial team for LimFlow is staying separate. You have three open roles right now that are LimFlow specific for a sales rep. Is the plan longer term to keep it separate, or is there potential down the line to integrate, you know, into the broader VTE business? Yeah. So, just as a reminder, one of the many things that we liked about the LimFlow company and LimFlow opportunity is it's a very narrow and focused commercial infrastructure that's required to really drive the therapy. And that's largely due to the fact that the concentration of the centers throughout the U.S. again is very highly concentrated relative to the number of centers that we're in for VTE. As you heard, Drew mention seventeen hundred, a fraction of that for LimFlow. So we inherited a very small, modestly sized commercial infrastructure when we acquired the company. We've added to it a little bit, but we would expect the LimFlow infrastructure to remain modestly sized and likely independent going forward, although we'll continue to look for opportunities to leverage that infrastructure and find synergies across the business. Great. And then the rest of the emerging therapies portfolio, any products, you know, you spoke about Artix, VenaCore. Which stand out to you as the biggest growth drivers looking ahead? You know, I think all of them are gonna contribute to growth. LimFlow, of course, is a compelling growth opportunity for us. Yeah. And I think, you know, looking ahead to next year, as we've established this foundation, I think can be an important driver for us. We've got VenaCore, still in the relatively early phases of its full market release, but good feedback on the performance of that product. We're really enthusiastic about Artix and about reentering the acute limb ischemia market. If all goes to plan, we'll start that LMR in Q4, which will put us back into that market with a purpose-built tool specifically for those patients. And then InThrill, in the last segment of emerging therapies, continues to contribute to growth, and we've got a next gen platform with InThrill a bit over the horizon in 2025. So, you know, taken together, emerging therapies is still a relatively small part of the revenue mix, but similar to international, I think, it's highly accretive to the growth, overall growth story going forward. I think you're gonna see that, even more pronounced in 2025. Just again, sorry, on LimFlow. Those centers of excellence on the limb ischemia side, how many have you tapped into? How many have you reached out to? Any stats and numbers around that specifically? We're in the early phases of the commercial rollout. Kevin described, you know, maybe a couple hundred high volume- Yeah ... limb salvage centers of excellence. We're in a fraction of those today, just given where we're at with the, commercial rollout and given the focus again, this year, was primarily on getting the foundation established. But there's a clear group of high volume, targets there. We know those accounts. LimFlow is got good awareness in those accounts already, so that will clearly be the focus, continuing to penetrate into that group as we move forward. And then we started to receive more questions on the international opportunity as well. I think we're modeling about $40 million for next year, on that. So where have you been seeing most success today, regionally, and then which areas are you looking ahead for? The international in Q2 was about 7% of the revenue, so still a relatively- Yeah ... small part of the overall mix, but an area that we've been investing in very deliberately and intentionally, and it's highly accretive to the growth, on a go-forward basis, as it's been historically. Most of that growth today, internationally, continues to come from, the European, Western European markets, where we've got the broadest, footprint that we've established and the longest, kinda operating history. Alongside Europe, we are beginning to see, more meaningful contributions from 12 or 15 other markets where we've gained, regulatory approval, we've established a commercial presence. Those are markets that are spread across, Latin America, across- ... Asia Pacific, and I think taken together, are now at the point where they are contributing more meaningfully alongside the European franchise. Then looking ahead to the end of this year, we continue to anticipate getting started in both Japan and China, two major markets that we've been working really over two years now to gain regulatory and reimbursement approval. And we've got those kind of line of sight, if all goes to plan, coming online initially in Q4. And I think those two markets will be important contributors to the overall international franchise. Taken together, given the spectacular unmet need that exists internationally for these patients, we think international can contribute 20%, if not more, of our revenue over time. That's the kind of potential we see today, and I think you're gonna see continued strong growth from that part of the business. Over time is roughly where? In the future. We've never been closer- Right. Never been closer than we are right now to hitting 20%. Then, if I look at street numbers for next year, I'll have to ask a question on 2025. They have you doing 18% growth for the whole business. Any initial comments on that? Yes. We'll probably stop short of commenting specifically on future year consensus. That's been our historical approach. What I can tell you is that we feel really good about all three parts of the business. 23% growth through the first half of this year, some exciting catalysts shaping up at the end of this year that will spill over and carry over into 2025. So we like how we're positioned heading into the back half of this year, and we see plenty of growth out ahead of us looking to 2025. Great. And Mitch, time to probably drag you in. All right. I don't want to leave you out. Profitability. Top line has continued to scale well, but we're still a few quarters away from that consistent operating profitability. In your view, what are the most meaningful drivers of that margin expansion, I guess, over the midterm? Yeah. So, the most important one, and the one we've been talking about, is the ongoing revenue growth of the business. We've talked about the really best-in-class gross margin of the business. I think we were 86.3% in Q2, and we're gonna expect to see that improve a little bit in the second half of the year. Longer term, we've talked about the gross margin of Inari kind of landing in the mid-80s, and that's due to the continued attrition of the gross margin, essentially due to the product mix and also the internationalization of the business that you just talked about. Kind of offset by some operating things we're doing, including our manufacturing facility in Costa Rica, which should be open about a year from right now. So we're excited about that. We're very focused on scaling the OpEx infrastructure of the business, so both the R&D and also the SG&A. We have nice alignment across the executive team, there. So you know, we're confident in our ability to get to that, to return to operating profitability, essentially in the first half of 2025. We have nice direction toward that. Longer term, I think this is a business that has the very much kind of a 20% + operating margin profit profile. I think that's in speaking of timing, you know, that's kind of in a longer term timeframe. As we look at the next probably 2 to 5 years, there's ongoing investment that we've heard about, the market development investment Drew described, you know, the VTE Excellence. We've just announced our fourth randomized clinical trial last week in London, the PERSEVERE trial, you know, for high-risk PE. And there's investments that we're making kind of across the business for all the right reasons, ultimately to, you know, change standard of care and make interventional therapy frontline, essentially. So this is something that we believe in. I think we have got a nice kind of roadmap in place to where we see the business being, you know, that period of time. And Costa Rica specifically, talk us through the setup there, which products are going to be manufactured, and whether you, you mentioned next year. Is that ahead of schedule? Is that in line? Yeah, it's actually right on schedule. We signed the lease about a year ago right now, so the shell and core is gonna be completed over the course of the next probably 60, 90 days, and then we'll start the interior fit out. From a what gets built where point of view, from an enterprise risk management point of view, we want to be able to build, you know, basically all of the products in all locations. Yes, we have the location in Southern California, as well as the future location in Costa Rica. We'll probably direct a lot of the manufacturing for the two major product families, the ClotTriever family... Sorry, the ClotTriever family and the FlowTriever family, to the Costa Rica facility, but then, you know, continue to maintain the ability to build those products also in Southern California. I think longer term, the Southern California facility kind of turns into an advanced development, kind of a new product area for us. You know, so we're excited about being able to, dedicate those resources, you know, toward building enhancements to our existing products, and new products as well. And on the rep specifically, you know, we mentioned earlier, we haven't seen too many open roles on the VTE side. Are you now at a point where you're happy with the number there, and that leverage should come through more meaningfully? Just any, you know, high-level views on that side. We're gonna continue to build out the sales team. We're building the commercial team at a slower pace. We're also kind of adding to the sales team in a less costly way. So in addition to the account managers, kind of the quota-carrying folks, we've added associate account managers and clinical reps, you know, kind of represent the company in a surgical procedure. So those are a couple of things we've done. One of the areas that, you know, you can kind of take away from Drew's comments about VTE Excellence is the slowing growth in the number of commercial team members is really a function of the fact that they're focusing more on a- ... specific group of hospitals, and we're trying to deepen our account penetration, essentially, with all of those hospitals, and I think there's a kind of a broader game plan that you heard Drew describe in terms of how we go about that effort, but we do see some nice opportunities for leverage in terms of the sales as a percent of revenue longer term. And that operating profitability next year, is that going to be consistently positive from that point onwards, or is there going to be some fluctuations coming through? Yeah, the plan to return to profitability in the first half of 2025, so most likely that's Q2 for some kind of taxation reasons that we could describe. But we would kind of carry on from there to build, you know, the profit profile of the business into the future. You're continuing to invest quite a bit in R&D. Give us a flavor of the type of projects you're working on, developments maybe on existing products, new products, new beds, anything, anything you can give us. So R&D, of course, includes both development and clinical as well. If you looked at the development component of that, you'd see investments in continued refinements of our core FlowTriever and ClotTriever platforms. You'd see investments in new tools within VTE that we believe will address other unmet needs. You'd see investments in some of the emerging therapy areas. We've talked about some of those already with Artix and VenaCore, of course, are reflective of those. So I think that's what you'd see in the R&D area. Clinical, of course, is dominated by the three RCTs that we currently have underway right now, PEERLESS one and two, and DEFIANCE. Those are major clinical projects, full-blown RCTs with all of the infrastructure that you need to execute that kind of high-quality evidence. That's what is reflected in the clinical component of the R&D line. Understood, and Kevin, as you transition into the CFO seat, would love to hear some core targets of yours. Sure. So, I've had the good fortune of being in an RA for over four years now, and have been deeply involved in many different aspects of the business, over that time. Also had the good fortune of working, very closely with Mitch over the last year, essentially running the day-to-day for the finance, accounting, and tax organization. So, I think we are very confident in, a smooth handoff in a month or so. Mitch has also agreed to stay on to the end of the year, to ensure that we've got a smooth handoff. But from a priorities perspective, my priorities are very much in line with the core strategy of the company, supporting the core strategies that you heard from Drew, and executing on continuing to drive deeper penetration in VTE and changing the standard of care. Continuing to make thoughtful and disciplined investments in our emerging therapies business to drive growth. Continuing to expand in a thoughtful way internationally. Both of those pieces are going to become increasingly important pieces of our business going forward. And you heard us talk about our operating leverage journey, continuing to drive operating leverage over time. So I see tremendous opportunity throughout the business, a lot of excitement in terms of where we're going as a company, and I really look forward to being a part of supporting the execution of the plan. Fantastic. And Drew, last one for you. What's something you're surprised you're not asked more often about by investors that you think is important for the story? You know, I think we spend a lot of time, unfortunately, talking about competitive noise in this market. We spend a lot of time having to address the latest chapter of misinformation and noise and chatter. I wish we'd get asked more about how early we are in inflecting a $6 billion market and changing the standard of care to frontline treatment with FlowTriever and ClotTriever. That's where our focus has been historically. That's continuing to be our focus as we move forward in evidence, in a commercial engine, in purpose-built tools, in purposeful market development efforts. All of those areas, I wish we had more time to spend talking with this group of stakeholders about, as opposed to addressing, what is, at times, an endless amount of noise and misinformation. Understood. Okay, perfect. I think that takes us to time. Thank you, gents, for coming. Yeah. Thank you, guys. Thank you. Appreciate the interest. Thanks!