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Penumbra, Inc. (NYSE: PEN) is a global healthcare company headquartered in Alameda, California, specializing in innovative interventional therapies. The company is renowned for developing and marketing medical devices aimed at treating complex medical conditions with significant unmet clinical needs. Penumbra's product portfolio includes neurovascular and peripheral vascular devices, which are primarily used by specialist physicians in hospitals.
Penumbra's neurovascular product line, which generates the majority of the company's revenue, includes technologies for neurovascular access, ischemic stroke treatment, neurovascular embolization, and neurosurgical tools. The peripheral vascular segment offers solutions for peripheral embolization and peripheral thrombectomy. These devices are designed to improve clinical outcomes, reduce procedural times and enhance patient safety, contributing to overall healthcare cost savings.
The company's innovations are supported by a strong commitment to clinical research. Notable achievements include the recent STRIKE-PE study results, which demonstrated the safety and efficacy of Penumbra's Indigo® Aspiration System with Lightning™ technology for treating pulmonary embolism (PE). This computer-assisted vacuum thrombectomy (CAVT) system significantly improved clinical and functional outcomes, such as reduced right heart strain and enhanced patient mobility.
Penumbra's financial performance reflects its robust market presence. For the third quarter of 2023, the company reported revenues of $270.9 million, a 26.8% increase compared to the previous year. The U.S. market accounted for 72% of this revenue, driven by strong sales of thrombectomy products. Gross profits rose to $177.7 million, highlighting the company's ability to leverage its product mix and production efficiencies.
Looking ahead, Penumbra remains focused on expanding its product portfolio and geographic presence. Recent milestones include the launch of Lightning Flash™ 2.0, an advanced CAVT system designed for faster thrombus removal with minimal blood loss. The company also started enrolling patients in the STORM-PE trial, a groundbreaking study comparing CAVT to standard anticoagulation therapy for PE treatment.
Penumbra's strategic vision includes continuous innovation, strengthening partnerships, and expanding its footprint in existing and new markets. The company supports healthcare providers in over 100 countries, ensuring a broad impact on global health outcomes through its cutting-edge medical technologies.
Penumbra Inc (NYSE: PEN) announced that Don Kassing will retire from its board of directors effective April 1, 2025, after 17 years of service. Kassing, who joined the board in 2008 and has served as Presiding Director since 2015, brought significant experience from both academic and corporate sectors.
Kassing's extensive career includes serving as President of San Jose State University (2004-2008), Interim President (2010-2011), and Vice President of Administration and Finance/CFO (1993-2004). His corporate experience spans 11 years, including 8 years at Caleres Inc in merchandising/marketing and operations management, and 3 years in corporate finance at General Motors
Penumbra (NYSE: PEN) reported its Q4 and full-year 2024 financial results. Q4 adjusted revenue reached $321.3 million, up 12.9% year-over-year, while full-year adjusted revenue was $1,200.4 million, increasing 13.4% from 2023. The U.S. market showed strong performance with 21.7% growth in Q4, while international revenues declined by 9.4%.
Q4 net income was $33.7 million with a 10.7% margin, and adjusted EBITDA reached $63.7 million with a 19.8% margin. For the full year 2024, net income was $14.0 million with adjusted EBITDA of $171.0 million.
Looking ahead to 2025, Penumbra projects revenue between $1,340.0-$1,360.0 million, representing 12-14% growth. The company expects U.S. thrombectomy franchise to grow 19-20%, with gross margin expansion of at least 100 basis points to over 67% and operating margin reaching 13-14% of revenue.
Penumbra (NYSE: PEN) has scheduled its fourth quarter and full year 2024 earnings release and conference call for February 18, 2025. The company will issue a press release detailing financial results after market close, followed by a conference call at 4:30 PM Eastern Time.
Investors can access the conference call by dialing (888) 596-4144 with conference ID 5872954, or join via webcast through the 'Events and Presentations' section on Penumbra's website. The webcast recording will remain available for at least two weeks after the call.
Penumbra (NYSE: PEN) has announced its participation in the 43rd Annual J.P. Morgan Healthcare Conference. The company's management team will deliver a presentation on Monday, January 13, 2025, at 6:00pm ET/3:00pm PT.
Investors and interested parties can access a webcast of the presentation through the 'Events and Presentations' section under the 'Investors' tab on Penumbra's website. The presentation recording will remain available for a minimum of two weeks following the event.
Penumbra (NYSE: PEN) has announced its participation in the upcoming Piper Sandler 36th Annual Healthcare Conference. The company's management team will present on Wednesday, December 4, 2024, at 8:00am ET/5:00am PT.
Interested parties can access a webcast of the presentation through the 'Events and Presentations' section under the 'Investors' tab on Penumbra's website. The webcast recording will remain available for a minimum of two weeks after the event.
Penumbra announced new data showing that patients with intermediate-risk pulmonary embolism (PE) treated with their computer assisted vacuum thrombectomy (CAVT) technology experienced better outcomes compared to other treatments. The study, presented at VIVA 2024, analyzed 2,060 adult patients and revealed that CAVT resulted in 25-35% shorter hospital stays, 25-30% higher rates of home discharge, and 2-3 times fewer complications. The technology also demonstrated potential financial benefits, with hospitals potentially seeing up to a 75% gain in profitable contribution margin if 10% more patients are treated with CAVT compared to anticoagulation alone.
Penumbra (NYSE: PEN) reported strong Q3 2024 financial results with total revenue of $301.0 million, up 11.1% year-over-year. U.S. thrombectomy revenue reached $162.1 million, increasing 21.2% compared to Q3 2023, driven by 32% growth in the VTE franchise. The company achieved net income of $29.5 million with a 9.8% margin and adjusted EBITDA of $56.7 million with an 18.8% margin. Gross profit was $200.3 million with a 66.5% margin. The company maintains its 2024 revenue guidance of $1,180-1,200 million and now expects U.S. thrombectomy growth of 24-25% year-over-year.
Penumbra, Inc. (NYSE: PEN), a leading thrombectomy company, has completed enrollment for its THUNDER clinical study evaluating the safety and efficacy of its latest computer assisted vacuum thrombectomy (CAVT™) technology for acute ischemic stroke patients. The study focuses on the Penumbra System™ with Thunderbolt™ Aspiration Tubing for removing blood clots in the brain.
The Thunderbolt technology uses an advanced CAVT software algorithm to generate modulated aspiration, aiming to reduce friction and facilitate faster, more complete clot removal. The THUNDER study (NCT05437055) is a multi-center, single-arm study involving patients with acute ischemic stroke due to intracranial large vessel occlusion (LVO) eligible for mechanical thrombectomy. The primary efficacy endpoint is the revascularization of the occluded target vessel immediately post-procedure.
The Get Out the Clot campaign has been launched by leading medical societies to improve patient care for venous thromboembolism (VTE). This collaborative initiative aims to identify gaps in care, standardize treatment, and expand access to innovative solutions for blood clot conditions. VTE affects up to 900,000 Americans annually, causing approximately 100,000 deaths and up to $10 billion in associated costs.
The campaign highlights the importance of standardized care paths and multidisciplinary approaches, such as VTE or PE response teams (PERTs), to improve diagnosis and treatment. It also emphasizes the need for awareness of newer treatments like computer-assisted vacuum thrombectomy and mechanical thrombectomy, which can quickly remove blood clots and improve patient outcomes.
The initiative is supported by organizations including the International Society on Thrombosis and Haemostasis (ISTH), National Blood Clot Alliance (NBCA), Penumbra, Inc. (NYSE: PEN), The PERT Consortium™, and the Society for Vascular Medicine (SVM).
Penumbra, Inc. (NYSE: PEN) has announced that it will release its financial results for the third quarter of 2024 after the market closes on Wednesday, October 30, 2024. The company will host a conference call to discuss these results at 4:30 PM Eastern Time on the same day.
Interested parties can access the conference call by dialing (888) 596-4144 with the conference ID: 5872954. Alternatively, a webcast of the call will be available on the 'Events and Presentations' section of Penumbra's website under the 'Investors' tab. The webcast will remain accessible on the company's website for at least two weeks following the call.
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