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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 (NYSE: PEN) has announced its participation in the upcoming Canaccord Genuity Growth Conference. The company's management team is set to present on Tuesday, August 13, 2024, at 9:00 AM ET / 6:00 AM PT. This event provides an opportunity for investors and analysts to gain insights into Penumbra's growth strategies and market position.
Interested parties can access a webcast of the presentation through the 'Events and Presentations' section under the 'Investors' tab on Penumbra's official website. The webcast will remain available for at least two weeks following the event, allowing for extended viewing and analysis of the company's presentation.
Penumbra, Inc. (NYSE: PEN) reported Q2 2024 financial results with revenue of $299.4 million, up 14.5% year-over-year. U.S. thrombectomy revenue increased 24.9% to $153.7 million. The company reported a loss from operations of $81.0 million, including $110.3 million in one-time non-cash impairment charges. Excluding these charges, non-GAAP income from operations was $31.7 million.
Penumbra updated its 2024 revenue guidance to $1,180-$1,200 million, a $60 million reduction at the midpoint. This change reflects challenges in China, delays in European product launches, strategic changes in Immersive Healthcare, and adjusted U.S. thrombectomy growth expectations. The company maintains its outlook for non-GAAP gross margin and operating margin expansion.
Penumbra has scheduled its Q2 2024 earnings release and conference call for July 30, 2024, at 4:30 PM ET. The company will issue a press release with financial results after the market closes on that day. Investors can join the earnings call by dialing (888) 596-4144 with the conference ID 5872954 or access the webcast via Penumbra's website under the 'Investors' tab. The webcast will remain available for at least two weeks post-call.
Penumbra announced its participation in the Truist Securities MedTech Conference on June 18, 2024. The presentation will be at 10:05am ET/7:05am PT. Investors can access the webcast through the company’s website under the 'Events and Presentations' section. The webcast will be available for two weeks post-event.
Penumbra announced that its management team will present at the William Blair Growth Stock Conference on June 6, 2024, at 12:20pm ET/9:20am PT.
The event will be webcast live and accessible through the company's website under the 'Investors' tab, where it will remain available for two weeks after the presentation.
Penumbra, Inc. reported strong financial results for the first quarter of 2024, with revenue reaching $278.7 million, a 15.4% increase over the previous year. The company's U.S. thrombectomy revenue saw a significant growth of 35.2%. The non-GAAP income from operations was $19.3 million, and adjusted EBITDA was $37.6 million with a margin of 13.5%. Penumbra's total revenue growth and U.S. thrombectomy revenue guidance for the full year 2024 are 16-20% and 27-30%, respectively. The company expects continued growth in revenue and gross margin expansion for the year.
Penumbra, Inc. (NYSE: PEN) will be presenting at the RBC Capital Markets Global Healthcare Conference on May 15, 2024. The webcast of the presentation will be available on the company's website for two weeks after the event.
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