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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.
On April 25, 2023, Penumbra, Inc. (NYSE: PEN) announced its participation in two upcoming investor conferences:
- Bank of America Securities 2023 Health Care Conference
Date: May 9, 2023
Time: 1:40 PM ET / 10:40 AM PT - 2023 RBC Capital Markets Global Healthcare Conference
Date: May 16, 2023
Time: 11:30 AM ET / 8:30 AM PT
Webcasts of these presentations will be accessible on Penumbra's investor relations website for at least two weeks post-event. With its headquarters in Alameda, California, Penumbra focuses on innovative therapies and has a diverse product portfolio addressing substantial medical needs in over 100 countries.
Penumbra, Inc. (NYSE: PEN) has announced a conference call to discuss its financial results for the first quarter of 2023. The call is scheduled for May 2, 2023, at 4:30 PM Eastern Time, following the release of the financial results after market close. Investors can access the conference call by dialing (888) 330-2443 or via a live webcast on Penumbra's website. The company is focused on innovative therapies and operates in more than 100 countries, addressing significant unmet medical needs.
Penumbra has announced a three-year collaboration with the Veterans Health Administration (VHA) to develop and implement virtual reality solutions for rehabilitation. This partnership aims to enhance therapy accessibility, focusing on veterans' needs, including remote rehabilitation. The collaboration will utilize Penumbra's REAL y-Series platform, a hands-free, multi-disciplinary VR rehabilitation tool. The technology targets both neurorehabilitation and chronic condition management. The REAL system is already active in facilities nationwide, addressing various rehabilitation goals.
Penumbra, Inc. (NYSE: PEN) reported robust financial results for Q4 and the full year 2022. Q4 revenue reached $221.2 million, an 8.4% increase year-over-year, while total annual revenue for 2022 was $847.1 million, a 13.3% rise. US revenue grew to $157.1 million in Q4 and $591.7 million for the year. Gross profit for Q4 was $138.4 million, reflecting a gross margin of 62.6%. Penumbra anticipates 2023 revenue will exceed $1 billion, indicating at least 18% growth. The company showed strong vascular product sales, with a 14.2% increase in Q4.
Penumbra, Inc. (NYSE: PEN) announced its upcoming presentation at Citi's 2023 Healthcare Services, Medtech, Tools & HCIT Conference on March 2, 2023, at 11:00 AM ET (8:00 AM PT). The event will feature insights from the management team focused on innovative healthcare solutions. A webcast of the presentation will be accessible via the investors' section of their website and will remain available for at least two weeks post-event. Penumbra is dedicated to developing therapies that address significant medical needs, operating globally in over 100 countries.
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