Adam Elsesser: Yes. No, it’s a great question, and thank you for this. So the trial number that we’re generally in the same ballpark that I was talking to. It’s now 275 patients. if I’m not mistaken. And we updated clinicaltrials.gov with the timing, which is generally consistent with what I had expected. The most – and we will just – we’re on that trial. We’re seeing some nice enrollment right now. We’re pretty excited about what we’re seeing. I will tell you that – the most important thing is we’re very happy with the performance of the product, and that is obviously the best part of it. But we also have validation separate from that product, as you know. We have Lightning Bolt, and we have done a huge number of cases with that similar technology, different catheter side.
And as everyone at [indiscernible] know, performing incredibly well. So again, we can’t wait to bring that to the market, but we have to run the trial and we can only do so much to speed up the enrollment, but so far so good. And as we’ve said, we’re going to be bringing this technology, the CAVT technology to every part of the body head to toe, so that we can modernize the thrombus removal and really to start taking a huge dent out of the number of patients that are suffering. And so Thunderbolt is going to be a big part of that, and our optimism is as strong as ever.
Unidentified Analyst: Thank you. Thanks, again and congrats on a quarter.
Adam Elsesser: Thank you.
Operator: Your next question comes from the line of Bill Plovanic. Your line is open.
Bill Plovanic: Great, thanks. Good evening. And thanks for taking my questions. First up is just, Maggie, can you help me understand, so phenomenal quarter on the operating margin at 12.3%. How should we think about Q4. It sounds like that’s going to continue to go up in Q4 and sequentially as we go into 2024. And then secondly, I don’t know if this, especially with your gross margin going up, but you also mentioned just on the sales force changes. I forget how you phrased it, but basically, you’re going to make some changes. I wonder if you could give us some granularity on kind of what you’re doing. And is that new different sales force for different indications? Is that splitting territories? Just anything you’re willing to share to help us out on that. Thanks so much.
Maggie Yuen: Okay. Thanks, Bill. Maybe I’ll touch on the margin first, and then Adam can talk about – address the sales force. I think overall, as I mentioned earlier, the gross margin trend that we see already a few quarter sequential improvement is primarily driven by continued thrombectomy product mix, and we definitely see that trend to continue. I also mentioned overall, with continued leveraging our overall capacity. I think this is also the time that we may accelerate some of the investment in our manufacturing area. So gross margins definitely are reaching a stabilized level, but then we will continue to see more margin improvement in 2024. In terms of OpEx leverage and overall operating margin, we continue to leverage a lot of the overhead and infrastructure investment that we put in a couple of years ago, and I think we will continue to see more leverage going forward.
Adam Elsesser: And Bill, this is Adam. To follow-up on the specific sales force question. I want to thank you. I think you all might know, I love talking about our amazing sales team and what they have been able to accomplish. It’s one of my favorite topics. As I laid out on the call, our team in the field, particularly in Vascular now have so much to do. with our embolization business, which is the majority coil business in the market, together with launching two transformative products together with continuing to get cataracts or coronary thrombectomy throughout there on this – still on the basis of the strong heated study a few years ago. So they are just busy. And now we’re facing more than like doubling the number of customers we’ve typically had on our thrombectomy business and getting to all that process.
So the point is we are going to evolve that sales force. We are not splitting the sales force. That’s not our plan. We are going to evolve it with people who can make some of this work more efficient without fundamentally changing the core structure of the sales team. So I’m not going to be too much more specific for competitive reasons. As you know, I don’t typically share the number of sales reps and how we think about that because that’s not how we’ve managed our team, and our team has performed so well over the last many, many years. But we can do that within the context of our growing profitability. And that’s the most important part. This isn’t going to change that trajectory. And I think it will be a significant evolution of the team.
but one that will allow us to do more but not impact that important part of profitability.
Bill Plovanic: Great. Thank you for taking my questions.
Adam Elsesser: Thank you.
Operator: Your next question comes from the line of Michael Sarcone with Jefferies. Your line is open.
Michael Sarcone: Good afternoon, thanks for taking the questions. First one to start. You had mentioned over the next 18 months, you plan to launch four new CAVT product in the U.S. I was wondering if you can give us any color there whatsoever. Are those new TAMs, new indications? Would just love to get some more color there.
Adam Elsesser: Yes. So it’s a great question. I’m very hesitant for obviously competitive reasons to give too many specifics. Needless to say, I will say the following though, and that is this is the beginning, not the end of what we think we can offer with our CAVT platform. Those four products are going to be significant. They are not tangential or on the sidelines. And that’s not the end of it. We alluded to technology that is in development that would be part of and attached to and be integrated into the whole platform, that will continue to move this field forward and making these procedures easier, making both the physicians and the hospitals feel much better about the flow and the treatment of these patients. So we’re really at the beginning of this next phase, and we will give you more update, obviously, as those products get cleared, but again, pretty excited about what the next month – next year looks like.
