Penumbra (PEN) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 15.6% YoY to $410.1M; operating income increased to $50.7M, while net income declined to $42.3M.

• Nine-month revenue rose 15.4% YoY to $1.175B; operating income was $130.0M, while net income declined to $109.7M from $130.3M.

Financial highlights

• Q3 gross profit was $280.3M versus $240.4M; operating expenses were $229.6M, including R&D of $25.4M and SG&A of $204.2M.

• Q3 net income was $42.3M versus $45.9M; diluted EPS was $1.07 versus $1.17.

• Nine-month gross profit was $798.7M versus $680.3M; diluted EPS was $2.77 versus $3.32.

• Nine-month operating cash flow increased to $174.6M from $152.2M.

Outlook and guidance

• No FY 2026 financial guidance or Q3 results conference call was provided given the pending Boston Scientific acquisition.

• Liquidity is expected to cover requirements for at least 12 months; priorities include operations, manufacturing expansion, inventory, R&D and capital expenditures.

• Continued investment planned for product launches, manufacturing and IT infrastructure, and international expansion; additional financing may be considered.