Penumbra, Inc. Reports Second Quarter 2025 Financial Results

Penumbra, Inc., the world’s leading thrombectomy company, has released its financial results for the second quarter ended June 30, 2025. The company reported significant growth in revenue and profitability, driven by strong performance in its U.S. thrombectomy segment.

Financial Highlights

For the second quarter of 2025, Penumbra reported:

• Revenue of $339.5 million, an increase of 13.4% compared to the second quarter of 2024.
• U.S. Thrombectomy revenue of $188.5 million, up 22.6% year-over-year.
• Net income of $45.3 million, translating to a net income margin of 13.3%.
• Adjusted EBITDA of $61.4 million, with an adjusted EBITDA margin of 18.1%.

Business and Operational Highlights

Penumbra's total revenue increased to $339.5 million, with the U.S. market representing 76.8% of total revenue. The company saw a 19.5% increase in U.S. revenue, while international revenue decreased by 3.2%. The growth was primarily driven by the sales of U.S. thrombectomy products, which increased by 22.6% year-over-year.

Revenue from global thrombectomy products grew to $230.3 million, and revenue from global embolization and access products grew to $109.2 million. The gross profit for the quarter was $224.0 million, or 66.0% of total revenue, compared to $162.8 million, or 54.4% of total revenue, in the same period last year.

Strategic Initiatives and Corporate Developments

Penumbra has increased its guidance for 2025 total revenue to a range of $1.355 billion to $1.370 billion, representing 13% to 15% growth over 2024. The company maintains its guidance for U.S. Thrombectomy growth of 20% to 21% and expects sequential gross margin expansion in the second half of 2025.

Management's Perspective

Penumbra's leadership highlighted the strong performance in the U.S. thrombectomy market as a key driver of growth. The company also noted improvements in gross margin due to favorable product mix and productivity enhancements. Management remains optimistic about future growth prospects and the potential for further margin expansion.

Future Outlook

Looking ahead, Penumbra has provided an updated financial outlook for the full year 2025, with total revenue expected to be in the range of $1.355 billion to $1.370 billion. The company also anticipates continued growth in its U.S. Thrombectomy segment and improvements in gross and operating margins.

SEC Filing: Penumbra Inc [ PEN ] - 8-K - Jul. 29, 2025