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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) reported financial results for Q4 and full year 2021, with Q4 revenue reaching $204.0 million, a 22.2% increase from Q4 2020. Full year revenue totaled $747.6 million, up 32.6% year-over-year. US revenue represented 71% of total revenue, with vascular products growing 30.4% to $113.6 million in Q4. Despite higher operating expenses, non-GAAP operating income was $2.5 million for Q4. The company forecasts 2022 revenue between $860 million and $875 million, indicating 15% to 17% growth.
Penumbra, Inc. (NYSE: PEN) is set to present at Citi's 2022 Virtual Healthcare Conference on February 24, 2022, at 1:15 PM ET.
Investors can access the presentation via a webcast on the company's website, which will remain available for at least two weeks after the event. Penumbra, headquartered in Alameda, California, specializes in innovative healthcare therapies and serves clients in over 100 countries. For further details, visit www.penumbrainc.com.
Penumbra, Inc. (NYSE: PEN) has announced a conference call to discuss its financial results for the fourth quarter and full year of 2021. The call is scheduled for February 22, 2022, at 4:30 PM Eastern Time, following a press release detailing the financial results. This event will be accessible via phone and webcast, with the latter available on the company's website for two weeks post-call.
Penumbra focuses on innovative therapies and has a global presence, supporting healthcare providers across more than 100 countries.
Penumbra, Inc. (NYSE: PEN) announced its participation in the 40th Annual J.P. Morgan Healthcare Conference on January 11, 2022. The management team will present at 11:15 AM ET (8:15 AM PT). Interested investors can access an audio webcast of the presentation through the company's website, available for at least two weeks post-event. Penumbra is dedicated to innovative healthcare solutions, serving providers in over 100 countries.
Penumbra, Inc. (NYSE: PEN) announced positive results from the CHEETAH clinical study of its CAT RX Catheter at the TCT conference. The study achieved high rates of blood clot removal and restored blood flow in patients with high thrombus burden. Key findings included a 99.5% reduction in TIMI thrombus grade and 97.5% of patients achieving TIMI flow grade 3 post-treatment. No serious device-related adverse events were reported. The study emphasizes the effectiveness and safety of continuous powered aspiration thrombectomy in acute coronary syndrome interventions.
Penumbra, Inc. (NYSE: PEN) reported strong financial results for Q3 2021, with a revenue increase of 25.8% year-over-year, reaching $190.1 million. Vascular product sales surged 40.3% to $105.5 million, while neuro products rose 11.5% to $84.7 million. Gross profit improved to 63.1% of total revenue, totaling $119.9 million. Operating income shifted to $8.8 million from a loss of $20.2 million a year earlier. The company also raised its 2021 revenue guidance to between $735 million to $740 million, reflecting a growth of 31% to 32% over 2020.
Penumbra, Inc. (NYSE: PEN) will host a conference call on November 3, 2021, at 4:30 PM ET to discuss its third quarter 2021 financial results. A press release will be issued post-market closure on the same day. Investors can access the call via phone or webcast on the company's website. Penumbra, based in Alameda, California, specializes in innovative therapies addressing significant medical conditions across over 100 countries.
Penumbra, Inc. (NYSE: PEN) will present at the Morgan Stanley 19th Annual Global Healthcare Conference on September 14, 2021, at 11:00 AM EDT / 8:00 AM PDT. A webcast of the presentation can be accessed via the company’s investor section on their website and will remain available for two weeks post-event. Penumbra, based in Alameda, California, specializes in innovative healthcare therapies, providing solutions to medical conditions across over 100 countries.
Penumbra, Inc. (NYSE: PEN) reported a strong second quarter for 2021, with revenues reaching $184.3 million, marking a 75.3% increase year-over-year. Vascular product sales surged 117.6% to $100.7 million, while neuro product sales grew 42% to $83.6 million. Gross profit stood at 64.4% of total revenue. Operating income improved to $10.3 million from a loss of $17.6 million in Q2 2020. The company also raised its full-year revenue guidance to $720 million to $730 million, reflecting a projected 28% to 30% growth over 2020.
Penumbra, Inc. (NYSE: PEN) will present at the Canaccord Genuity 41st Annual Growth Conference on August 11, 2021, at 11:00am ET / 8:00am PT. The event will showcase the company's innovative healthcare therapies aimed at addressing significant medical needs. Interested parties can access a webcast of the presentation via the investors' section of Penumbra's website, available for two weeks post-event. Penumbra operates primarily in the US, Europe, Canada, and Australia, focusing on cutting-edge products in the healthcare sector.
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