Penumbra, Inc. Reports Third Quarter 2024 Financial Results
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 (NYSE: PEN) ha riportato risultati finanziari solidi per il terzo trimestre del 2024, con un fatturato totale di 301,0 milioni di dollari, in aumento dell'11,1% rispetto all'anno precedente. Il fatturato da trombectomia negli Stati Uniti ha raggiunto 162,1 milioni di dollari, con un incremento del 21,2% rispetto al terzo trimestre del 2023, sostenuto da una crescita del 32% nel segmento VTE. L'azienda ha registrato un utile netto di 29,5 milioni di dollari, con un margine del 9,8% e un EBITDA rettificato di 56,7 milioni di dollari con un margine del 18,8%. Il profitto lordo è stato di 200,3 milioni di dollari con un margine del 66,5%. L'azienda mantiene le previsioni di fatturato per il 2024 tra 1.180 e 1.200 milioni di dollari e ora prevede una crescita della trombectomia negli Stati Uniti del 24-25% rispetto all'anno precedente.
Penumbra (NYSE: PEN) reportó resultados financieros sólidos en el tercer trimestre de 2024, con un ingreso total de 301,0 millones de dólares, un aumento del 11,1% en comparación con el año anterior. Los ingresos por trombectomía en EE.UU. alcanzaron 162,1 millones de dólares, aumentando un 21,2% en comparación con el tercer trimestre de 2023, impulsados por un crecimiento del 32% en la franquicia VTE. La compañía logró un ingreso neto de 29,5 millones de dólares, con un margen del 9,8% y un EBITDA ajustado de 56,7 millones de dólares con un margen del 18,8%. La utilidad bruta fue de 200,3 millones de dólares con un margen del 66,5%. La empresa mantiene su guía de ingresos para 2024 de 1.180 a 1.200 millones de dólares y ahora espera un crecimiento de la trombectomía en EE.UU. del 24-25% en comparación con el año anterior.
페넘브라 (NYSE: PEN)는 2024년 3분기 강력한 재무 성과를 보고했으며, 총 수익은 3억 1천만 달러로 지난해 대비 11.1% 증가했습니다. 미국의 혈전제거 수익은 1억 6천 2백만 달러에 도달했으며, 이는 2023년 3분기 대비 21.2% 증가한 수치로, VTE 프랜차이즈의 32% 성장에 기인합니다. 회사는 2천 9백 5십만 달러의 순이익을 기록했으며, 이는 9.8%의 마진을 나타내고, 조정된 EBITDA는 5천 6백 7십만 달러로 18.8%의 마진을 기록했습니다. 총 이익은 2억 3백만 달러로, 66.5%의 마진을 보였습니다. 회사는 2024년 수익 목표를 11억 8천만 ~ 12억 달러로 유지하며, 지금은 미국에서의 혈전제거 성장률이 지난해 대비 24-25%에 이를 것으로 기대하고 있습니다.
Penumbra (NYSE: PEN) a annoncé des résultats financiers solides pour le troisième trimestre 2024, avec un chiffre d'affaires total de 301,0 millions de dollars, en hausse de 11,1% par rapport à l'année précédente. Le chiffre d'affaires de thrombectomie aux États-Unis a atteint 162,1 millions de dollars, avec une augmentation de 21,2% par rapport au troisième trimestre 2023, soutenue par une croissance de 32% du segment VTE. L'entreprise a réalisé un bénéfice net de 29,5 millions de dollars, avec une marge de 9,8% et un EBITDA ajusté de 56,7 millions de dollars avec une marge de 18,8%. Le bénéfice brut s'élevait à 200,3 millions de dollars avec une marge de 66,5%. L'entreprise maintient ses prévisions de chiffre d'affaires pour 2024 entre 1 180 et 1 200 millions de dollars et s'attend désormais à une croissance de 24-25% de la thrombectomie aux États-Unis par rapport à l'année précédente.
Penumbra (NYSE: PEN) hat im dritten Quartal 2024 solide Finanzergebnisse gemeldet, mit einem Gesamtumsatz von 301,0 Millionen Dollar, was einem Anstieg von 11,1% im Vergleich zum Vorjahr entspricht. Der Umsatz aus Thrombektomien in den USA erreichte 162,1 Millionen Dollar, was einem Anstieg von 21,2% im Vergleich zum dritten Quartal 2023 entspricht, angetrieben durch ein Wachstum von 32% im VTE-Segment. Das Unternehmen erzielte einen Nettoertrag von 29,5 Millionen Dollar mit einer Marge von 9,8% und ein bereinigtes EBITDA von 56,7 Millionen Dollar mit einer Marge von 18,8%. Der Bruttogewinn betrug 200,3 Millionen Dollar mit einer Marge von 66,5%. Das Unternehmen hält an seiner Umsatzprognose für 2024 von 1.180 bis 1.200 Millionen Dollar fest und erwartet nun ein Wachstum des Thrombektomiemarktes in den USA von 24-25% im Vergleich zum Vorjahr.
- Revenue increased 11.1% YoY to $301.0 million
- U.S. thrombectomy revenue grew 21.2% YoY
- VTE franchise showed strong 32% growth
- Gross margin improved to 66.5% from 65.6% YoY
- Operating expenses decreased to 54.8% of revenue from 60.9% YoY
- Net income reached $29.5 million with 9.8% margin
- International revenue declined 1.9% YoY
Insights
The Q3 2024 results demonstrate solid performance with notable strengths in key areas.
Profitability metrics show improvement, with gross margin expanding to
The strategic decision to wind down the Immersive Healthcare business, while resulting in a
- Revenue of
in the third quarter of 2024, an increase of$301.0 million 11.1% or10.9% in constant currency1, compared to the third quarter of 2023. U.S. thrombectomy revenue of in the third quarter of 2024 increased$162.1 million 21.2% and5.4% compared to the third quarter of 2023 and second quarter of 2024, respectively, led by growth in ourU.S. VTE franchise, which grew32% compared to the third quarter of 2023.- Income from operations of
and Non-GAAP income from operations1 of$35.4 million in the third quarter of 2024.$40.3 million - Net income of
and adjusted EBITDA1 of$29.5 million or net income margin of$56.7 million 9.8% and adjusted EBITDA margin of18.8% in the third quarter of 2024.
Third Quarter 2024 Financial Results
Total revenue increased to
Gross profit for the third quarter of 2024 was
Total operating expenses, including
Income from operations was
Full Year 2024 Financial Outlook
The Company reiterates guidance for total revenue for 2024 to be in the range of
1See "Non-GAAP Financial Measures" for important information about our use of non-GAAP measures. |
Webcast and Conference Call Information
Penumbra, Inc. will host a conference call to discuss the third quarter 2024 financial results after market close on Wednesday, October 30, 2024 at 4:30 PM Eastern Time. The conference call can be accessed live over the phone by dialing (888) 596-4144 for domestic and international callers (conference id: 5872954), or the webcast can be accessed on the "Events and Presentations" section under the "Investors" tab of the Company's website at: www.penumbrainc.com. The webcast will be available on the Company's website for at least two weeks following the completion of the call.
About Penumbra
Penumbra, Inc., the world's leading thrombectomy company, is focused on developing the most innovative technologies for challenging medical conditions such as ischemic stroke, venous thromboembolism such as pulmonary embolism, and acute limb ischemia. Our broad portfolio, which includes computer assisted vacuum thrombectomy (CAVT), centers on removing blood clots from head-to-toe with speed, safety and simplicity. By pioneering these innovations, we support healthcare providers, hospitals and clinics in more than 100 countries, working to improve patient outcomes and quality of life. For more information, visit www.penumbrainc.com and connect on Instagram, LinkedIn, and X.
Non-GAAP Financial Measures
In addition to financial measures prepared in accordance with
Constant Currency. The Company's constant currency revenue disclosures estimate the impact of changes in foreign currency rates on the translation of the Company's current period revenue as compared to the applicable comparable period in the prior year. This impact is derived by taking the current local currency revenue and translating it into
Non-GAAP operating expenses, non-GAAP income from operations, non-GAAP net income, and non-GAAP diluted EPS. The adjustments to the GAAP financial measures reflect the exclusion of:
- the effect of the amortization of finite lived intangible assets acquired in connection with the Sixense acquisition over their estimated useful lives;
- the one-time expense associated with the acquisition of IPR&D in the third quarter of 2023;
- the excess tax benefits associated with share-based compensation arrangements;
- non-recurring litigation related expenses;
- non-cash long-lived asset impairment related to the impairment of our Immersive Healthcare asset group; and
- one-time expenses in connection with the wind down of the Immersive Healthcare business.
Adjusted EBITDA. The Company's adjusted EBITDA reflects the exclusion from GAAP net income (loss) of:
- non-cash operating charges such as stock-based compensation, depreciation and amortization, and impairment charges;
- non-operating items such as the one-time expense associated with the acquisition of IPR&D, interest income, interest expense, and provision for (benefit from) income taxes;
- non-recurring litigation related expenses; and
- one-time expenses in connection with the wind down of the Immersive Healthcare business.
Full reconciliation of these non-GAAP measures to the most comparable GAAP measures is set forth in the tables below.
Our management believes the non-GAAP financial measures disclosed in this press release are useful to investors in assessing the operating performance of our business and provide meaningful comparisons to prior periods and thus a more complete understanding of our business than could be obtained absent this disclosure. Specifically, we consider the change in constant currency revenue as a useful metric as it provides an alternative framework for assessing how our underlying business performed excluding the effect of foreign currency rate fluctuations. We consider non-GAAP operating expenses, non-GAAP income from operations, non-GAAP net income, and non-GAAP diluted EPS useful metrics as they provide an alternative framework for assessing how our underlying business performed excluding non-cash long-lived asset impairment related to the impairment of our Immersive Healthcare asset group, the one-time expense associated with the acquisition of IPR&D in the third quarter of 2023, the amortization expense of finite lived intangible assets acquired in connection with the Sixense acquisition, the excess tax benefits associated with share-based compensation arrangements, expenses related to certain litigation matters that we have determined are not a normal or recurring part of our business, including settlement costs and legal fees, and one-time expenses in connection with the wind down of the Immersive Healthcare business. Further, we consider adjusted EBITDA a useful metric as it provides an alternative framework for assessing how our underlying business performed excluding non-cash operating charges such as stock-based compensation, depreciation and amortization, and impairment charges, non-operating items such as the one-time expense associated with the acquisition of IPR&D, interest income, interest expense, and provision for (benefit from) income taxes, non-recurring litigation related expenses, and one-time expenses in connection with the wind down of the Immersive Healthcare business.
The non-GAAP financial measures included in this press release may be different from, and therefore may not be comparable to, similarly titled measures used by other companies. These non-GAAP measures should not be considered in isolation or as alternatives to GAAP measures. We urge investors to review the reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures included in this press release, and not to rely on any single financial measure to evaluate our business.
Forward-Looking Statements
Except for historical information, certain statements in this press release are forward-looking in nature and are subject to risks, uncertainties and assumptions about us. Our business and operations are subject to a variety of risks and uncertainties and, consequently, actual results may differ materially from those projected by any forward-looking statements. Factors that could cause actual results to differ from those projected include, but are not limited to: failure to sustain or grow profitability or generate positive cash flows; failure to effectively introduce and market new products; delays in product introductions; significant competition; inability to further penetrate our current customer base, expand our user base and increase the frequency of use of our products by our customers; inability to achieve or maintain satisfactory pricing and margins; manufacturing difficulties; permanent write-downs or write-offs of our inventory or other assets; product defects or failures; unfavorable outcomes in clinical trials; inability to maintain our culture as we grow; fluctuations in foreign currency exchange rates; potential adverse regulatory actions; and the potential impact of any acquisitions, mergers, dispositions, joint ventures or investments we may make. These risks and uncertainties, as well as others, are discussed in greater detail in our filings with the Securities and Exchange Commission ("SEC"), including our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on February 22, 2024. There may be additional risks of which we are not presently aware or that we currently believe are immaterial which could have an adverse impact on our business. Any forward-looking statements are based on our current expectations, estimates and assumptions regarding future events and are applicable only as of the dates of such statements. We make no commitment to revise or update any forward-looking statements in order to reflect events or circumstances that may change.
Penumbra, Inc. | ||||
September 30, 2024 | December 31, 2023 | |||
Assets | ||||
Current assets: | ||||
Cash and cash equivalents | $ 280,476 | $ 167,486 | ||
Marketable investments | 10,548 | 121,701 | ||
Accounts receivable, net | 176,051 | 201,768 | ||
Inventories | 393,413 | 388,023 | ||
Prepaid expenses and other current assets | 31,265 | 36,424 | ||
Total current assets | 891,753 | 915,402 | ||
Property and equipment, net | 59,919 | 72,691 | ||
Operating lease right-of-use assets | 180,923 | 188,756 | ||
Finance lease right-of-use assets | 28,888 | 31,092 | ||
Intangible assets, net | 6,920 | 71,056 | ||
Goodwill | 166,355 | 166,270 | ||
Deferred taxes | 105,851 | 85,158 | ||
Other non-current assets | 38,514 | 25,880 | ||
Total assets | $ 1,479,123 | $ 1,556,305 | ||
Liabilities and Stockholders' Equity | ||||
Current liabilities: | ||||
Accounts payable | $ 33,151 | $ 27,155 | ||
Accrued liabilities | 105,550 | 110,555 | ||
Current operating lease liabilities | 12,068 | 11,203 | ||
Current finance lease liabilities | 2,416 | 2,231 | ||
Total current liabilities | 153,185 | 151,144 | ||
Non-current operating lease liabilities | 189,960 | 197,229 | ||
Non-current finance lease liabilities | 22,245 | 23,680 | ||
Other non-current liabilities | 9,453 | 5,308 | ||
Total liabilities | 374,843 | 377,361 | ||
Stockholders' equity: | ||||
Common stock | 38 | 39 | ||
Additional paid-in capital | 1,079,193 | 1,047,198 | ||
Accumulated other comprehensive loss | (963) | (3,151) | ||
Retained earnings | 26,012 | 134,858 | ||
Total stockholders' equity | 1,104,280 | 1,178,944 | ||
Total liabilities and stockholders' equity | $ 1,479,123 | $ 1,556,305 |
Penumbra, Inc. | ||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||
2024 | 2023 | 2024 | 2023 | |||||
Revenue | $ 301,039 | $ 270,946 | $ 879,097 | $ 773,843 | ||||
Cost of revenue | 100,733 | 93,228 | 334,823 | 278,192 | ||||
Gross profit | 200,306 | 177,718 | 544,274 | 495,651 | ||||
Operating expenses: | ||||||||
Research and development | 25,205 | 20,958 | 74,773 | 62,481 | ||||
Sales, general and administrative | 139,737 | 125,920 | 426,052 | 376,433 | ||||
Acquired in-process research and development | — | 18,215 | — | 18,215 | ||||
Impairment charge | — | — | 76,945 | — | ||||
Total operating expenses | 164,942 | 165,093 | 577,770 | 457,129 | ||||
Income (loss) from operations | 35,364 | 12,625 | (33,496) | 38,522 | ||||
Interest and other income, net | 4,414 | 679 | 10,026 | 2,970 | ||||
Income (loss) before income taxes | 39,778 | 13,304 | (23,470) | 41,492 | ||||
Provision for (benefit from) income taxes | 10,251 | 4,090 | (3,799) | 4,756 | ||||
Net income (loss) | $ 29,527 | $ 9,214 | $ (19,671) | $ 36,736 | ||||
Net income (loss) per share: | ||||||||
Basic | $ 0.76 | $ 0.24 | $ (0.51) | $ 0.96 | ||||
Diluted | $ 0.75 | $ 0.23 | $ (0.51) | $ 0.94 | ||||
Weighted average shares outstanding: | ||||||||
Basic | 38,610,805 | 38,462,463 | 38,706,809 | 38,324,279 | ||||
Diluted | 39,178,227 | 39,219,966 | 38,706,809 | 39,183,635 |
Penumbra, Inc. | ||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||
2024 | 2023 | 2024 | 2023 | |||||
GAAP operating expenses | $ 164,942 | $ 165,093 | $ 577,770 | $ 457,129 | ||||
GAAP operating expenses includes the effect of the following | ||||||||
Impairment charge2 | — | — | 76,945 | — | ||||
Non-recurring litigation related expenses | — | — | 4,823 | — | ||||
Amortization of finite lived intangible assets acquired | — | 2,380 | 4,759 | 7,139 | ||||
Wind down expenses3 | 4,971 | — | 4,971 | — | ||||
Acquired IPR&D4 | — | 18,215 | — | 18,215 | ||||
Non-GAAP operating expenses | $ 159,971 | $ 144,498 | $ 486,272 | $ 431,775 | ||||
GAAP income (loss) from operations | $ 35,364 | $ 12,625 | $ (33,496) | $ 38,522 | ||||
GAAP income (loss) from operations includes the effect of the | ||||||||
Impairment charge2 | — | — | 76,945 | — | ||||
Non-recurring litigation related expenses | — | — | 4,823 | — | ||||
Amortization of finite lived intangible assets acquired | — | 2,380 | 4,759 | 7,139 | ||||
Wind down expenses3 | 4,971 | — | 4,971 | — | ||||
Acquired IPR&D4 | — | 18,215 | — | 18,215 | ||||
Non-GAAP income from operations | $ 40,335 | $ 33,220 | $ 58,002 | $ 63,876 |
______________________ |
1See "Non-GAAP Financial Measures" for important information about our use of non-GAAP measures. |
2Represents charges associated with the impairment of the Immersive Healthcare asset group during the three months ended June 30, 2024. |
3Represents one-time expenses that include severance and other costs related to the wind down of the Immersive Healthcare business during the three and nine months ended September 30, 2024. |
4Represents a one-time |
Penumbra, Inc. | ||||||||||||||||
Three Months Ended | Three Months Ended | Nine Months Ended | Nine Months Ended | |||||||||||||
Net | Diluted | Net | Diluted | Net (loss) | Diluted | Net | Diluted | |||||||||
GAAP net income (loss) | $ 29,527 | $ 0.75 | $ 9,214 | $ 0.23 | $ (19,671) | $ (0.51) | $ 36,736 | $ 0.94 | ||||||||
GAAP net income (loss) includes the effect of the | ||||||||||||||||
Impairment charge2 | — | — | — | — | 76,945 | 1.96 | — | — | ||||||||
Non-recurring litigation related expenses | — | — | — | — | 4,823 | 0.12 | — | — | ||||||||
Amortization of finite lived intangible assets | — | — | 2,380 | 0.07 | 4,759 | 0.12 | 7,139 | 0.18 | ||||||||
Wind down expenses3 | 4,971 | 0.13 | — | — | 4,971 | 0.13 | — | — | ||||||||
Acquired IPR&D4 | — | — | 18,215 | 0.46 | — | — | 18,215 | 0.46 | ||||||||
Tax effects on the non-GAAP adjustments above5 | (1,198) | (0.03) | (558) | (0.01) | (22,051) | (0.56) | (1,673) | (0.04) | ||||||||
Excess tax benefits related to stock compensation | (85) | — | (2,987) | (0.08) | (491) | (0.01) | (8,372) | (0.21) | ||||||||
Non-GAAP net income | $ 33,215 | $ 0.85 | $ 26,264 | $ 0.67 | $ 49,285 | $ 1.25 | $ 52,045 | $ 1.33 | ||||||||
GAAP diluted EPS | $ 0.75 | $ 0.23 | $ (0.51) | $ 0.94 | ||||||||||||
Non-GAAP diluted EPS6 | $ 0.85 | $ 0.67 | $ 1.25 | $ 1.33 | ||||||||||||
Weighted average shares outstanding used to compute: | ||||||||||||||||
GAAP diluted EPS | 39,178,227 | 39,219,966 | 38,706,809 | 39,183,635 | ||||||||||||
Non-GAAP diluted EPS6 | 39,178,227 | 39,219,966 | 39,334,133 | 39,183,635 |
______________________ |
1See "Non-GAAP Financial Measures" for important information about our use of non-GAAP measures. |
2Represents charges associated with the impairment of the Immersive Healthcare asset group during the three months ended June 30, 2024. |
3Represents one-time expenses that include severance and other costs related to the wind down of the Immersive Healthcare business during the three and nine months ended September 30, 2024. |
4Represents a one-time |
5For the three and nine months ended September 30, 2024 and 2023, management used a combined federal and state tax rate of |
6For the purposes of calculating Non-GAAP diluted EPS for the nine months ended September 30, 2024, non-GAAP diluted weighted average shares outstanding of 39,334,133 was used, as the Company had non-GAAP net income in the period. |
Penumbra, Inc. | ||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||
2024 | 2023 | 2024 | 2023 | |||||
GAAP net income (loss) | $ 29,527 | $ 9,214 | $ (19,671) | $ 36,736 | ||||
Adjustments to GAAP net (loss) income: | ||||||||
Depreciation and amortization expense | 4,148 | 6,933 | 19,314 | 20,218 | ||||
Interest income, net | (3,129) | (1,123) | (9,333) | (2,516) | ||||
Provision for (benefit from) income taxes | 10,251 | 4,090 | (3,799) | 4,756 | ||||
Stock-based compensation expense | 10,940 | 14,136 | 34,069 | 39,725 | ||||
Impairment charge2 | — | — | 76,945 | — | ||||
Non-recurring litigation related expenses | — | — | 4,823 | — | ||||
Wind down expenses3 | 4,971 | — | 4,971 | — | ||||
Acquired IPR&D4 | — | 18,215 | — | 18,215 | ||||
Adjusted EBITDA | $ 56,708 | $ 51,465 | $ 107,319 | $ 117,134 | ||||
Revenue | $ 301,039 | $ 270,946 | $ 879,097 | $ 773,843 | ||||
Adjusted EBITDA | $ 56,708 | $ 51,465 | $ 107,319 | $ 117,134 | ||||
GAAP net income (loss) margin | 9.8 % | 3.4 % | (2.2) % | 4.7 % | ||||
Adjusted EBITDA margin | 18.8 % | 19.0 % | 12.2 % | 15.1 % |
______________________ |
1See "Non-GAAP Financial Measures" for important information about our use of non-GAAP measures. |
2Represents charges associated with the impairment of the Immersive Healthcare asset group during the three months ended June 30, 2024. |
3Represents one-time expenses that include severance and other costs related to the wind down of the Immersive Healthcare business during the three and nine months ended September 30, 2024. |
4Represents a one-time |
Penumbra, Inc. | ||||||||||||||
Three Months Ended | Reported Change | FX Impact | Constant Currency Change | |||||||||||
2024 | 2023 | $ | % | $ | $ | % | ||||||||
$ 226,326 | $ 194,816 | $ 31,510 | 16.2 % | $ — | $ 31,510 | 16.2 % | ||||||||
International | 74,713 | 76,130 | (1,417) | (1.9) % | (487) | (1,904) | (2.5) % | |||||||
Total | $ 301,039 | $ 270,946 | $ 30,093 | 11.1 % | $ (487) | $ 29,606 | 10.9 % | |||||||
Nine Months Ended | Reported Change | FX Impact | Constant Currency Change | |||||||||||
2024 | 2023 | $ | % | $ | $ | % | ||||||||
$ 654,150 | $ 553,467 | $ 100,683 | 18.2 % | $ — | $ 100,683 | 18.2 % | ||||||||
International | 224,947 | 220,376 | 4,571 | 2.1 % | (595) | 3,976 | 1.8 % | |||||||
Total | $ 879,097 | $ 773,843 | $ 105,254 | 13.6 % | $ (595) | $ 104,659 | 13.5 % |
Penumbra, Inc. | ||||||||||||||
Three Months Ended | Reported Change | FX Impact | Constant Currency Change | |||||||||||
2024 | 2023 | $ | % | $ | $ | % | ||||||||
Thrombectomy | $ 204,141 | $ 179,080 | $ 25,061 | 14.0 % | $ (259) | $ 24,802 | 13.8 % | |||||||
Embolization and Access | 96,898 | 91,866 | 5,032 | 5.5 % | (228) | 4,804 | 5.2 % | |||||||
Total | $ 301,039 | $ 270,946 | $ 30,093 | 11.1 % | $ (487) | $ 29,606 | 10.9 % | |||||||
Nine Months Ended | Reported Change | FX Impact | Constant Currency Change | |||||||||||
2024 | 2023 | $ | % | $ | $ | % | ||||||||
Thrombectomy | $ 595,346 | $ 486,563 | $ 108,783 | 22.4 % | $ (226) | $ 108,557 | 22.3 % | |||||||
Embolization and Access | 283,751 | 287,280 | (3,529) | (1.2) % | (369) | (3,898) | (1.4) % | |||||||
Total | $ 879,097 | $ 773,843 | $ 105,254 | 13.6 % | $ (595) | $ 104,659 | 13.5 % |
Penumbra, Inc. | ||||||||||||||
Three Months Ended | Reported Change | FX Impact | Constant Currency Change | |||||||||||
2024 | 2023 | $ | % | $ | $ | % | ||||||||
Thrombectomy | ||||||||||||||
$ 162,051 | $ 133,754 | $ 28,297 | 21.2 % | $ — | $ 28,297 | 21.2 % | ||||||||
International | 42,090 | 45,326 | (3,236) | (7.1) % | (259) | (3,495) | (7.7) % | |||||||
Total Thrombectomy | 204,141 | 179,080 | 25,061 | 14.0 % | (259) | 24,802 | 13.8 % | |||||||
Embolization and Access | ||||||||||||||
64,275 | 61,062 | 3,213 | 5.3 % | 3,213 | 5.3 % | |||||||||
International | 32,623 | 30,804 | 1,819 | 5.9 % | (228) | 1,591 | 5.2 % | |||||||
Total Embolization and Access | 96,898 | 91,866 | 5,032 | 5.5 % | (228) | 4,804 | 5.2 % | |||||||
Total | $ 301,039 | $ 270,946 | $ 30,093 | 11.1 % | $ (487) | $ 29,606 | 10.9 % | |||||||
Nine Months Ended | Reported Change | FX Impact | Constant Currency Change | |||||||||||
2024 | 2023 | $ | % | $ | $ | % | ||||||||
Thrombectomy | ||||||||||||||
$ 466,064 | $ 367,994 | $ 98,070 | 26.6 % | $ — | $ 98,070 | 26.6 % | ||||||||
International | 129,282 | 118,569 | 10,713 | 9.0 % | (226) | 10,487 | 8.8 % | |||||||
Total Thrombectomy | 595,346 | 486,563 | 108,783 | 22.4 % | (226) | 108,557 | 22.3 % | |||||||
Embolization and Access | ||||||||||||||
188,086 | 185,473 | 2,613 | 1.4 % | 2,613 | 1.4 % | |||||||||
International | 95,665 | 101,807 | (6,142) | (6.0) % | (369) | (6,511) | (6.4) % | |||||||
Total Embolization and Access | 283,751 | 287,280 | (3,529) | (1.2) % | (369) | (3,898) | (1.4) % | |||||||
Total | $ 879,097 | $ 773,843 | $ 105,254 | 13.6 % | $ (595) | $ 104,659 | 13.5 % |
______________________ |
1See "Non-GAAP Financial Measures" for important information about our use of non-GAAP measures. |
Investor Relations
Penumbra, Inc.
510-995-2461
investors@penumbrainc.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/penumbra-inc-reports-third-quarter-2024-financial-results-302292024.html
SOURCE Penumbra, Inc.
FAQ
What was Penumbra's (PEN) revenue growth in Q3 2024?
How much did Penumbra's (PEN) U.S. thrombectomy revenue grow in Q3 2024?
What is Penumbra's (PEN) revenue guidance for full-year 2024?