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Penumbra (PEN) investor relations material
Penumbra Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Fourth quarter 2025 revenue reached $385.4 million, up 22.1% year-over-year; full year revenue was $1,403.7 million, up 17.5% year-over-year.
Net income for Q4 2025 was $47.3 million; full year net income was $177.7 million.
Adjusted EBITDA for Q4 2025 was $79.1 million (20.5% margin); full year adjusted EBITDA was $266.8 million (19.0% margin).
No financial guidance for 2026 due to the proposed acquisition by Boston Scientific.
Financial highlights
Q4 2025 gross profit was $262.1 million (68.0% margin), up from $210.7 million (66.8%) in Q4 2024.
Full year 2025 gross profit was $942.4 million (67.1% margin), up from $755.0 million (63.2%) in 2024, which included a one-time $33.4 million inventory impairment charge.
Q4 2025 operating income was $59.2 million (15.4% margin); full year operating income was $189.2 million (13.5% margin).
Q4 2025 EPS was $1.20 (diluted); full year EPS was $4.52 (diluted).
Outlook and guidance
No financial guidance for 2026 due to the pending acquisition by Boston Scientific.
- Q3 revenue up 11.1% to $301M, with 21.2% U.S. thrombectomy growth and margin expansion.PEN
Q3 20243 Feb 2026 - Mechanical thrombectomy proved superior to anticoagulation for intermediate high-risk PE, reshaping care.PEN
Transcatheter Cardiovascular Therapeutics (TCT) Conference 20253 Feb 2026 - CAVT innovation and strong share gains in VTE drive a 15-16% CAGR growth outlook.PEN
2024 Truist Securities MedTech Conference3 Feb 2026 - Q2 revenue up 14.5% with strong thrombectomy growth, but guidance cut on China and Europe headwinds.PEN
Q2 20242 Feb 2026 - Innovative CAVT products and a $200M buyback set the stage for future growth.PEN
Canaccord Genuity 44th Annual Growth Conference & Private Company Showcase 20242 Feb 2026 - Lightning Flash 2.0 and strategic focus on thrombectomy set the stage for accelerated growth.PEN
The 44th Annual William Blair Growth Stock Conference1 Feb 2026 - Growth driven by thrombectomy innovation and expanding access, with headwinds expected to ease.PEN
2024 Wells Fargo Healthcare Conference22 Jan 2026 - Innovative thrombectomy launches and pipeline set the stage for accelerated growth in 2025.PEN
The Baird 2024 Global Healthcare Conference21 Jan 2026 - Thrombectomy and embolization drive growth, with innovation, clinical strength, and margin expansion ahead.PEN
44th Annual J.P. Morgan Healthcare Conference13 Jan 2026
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