Penumbra, Inc. Reports Third Quarter 2026 Financial Results
ALAMEDA, Calif., Oct. 29, 2026 /PRNewswire/ -- Penumbra, Inc. (NYSE: PEN), the world's leading thrombectomy company, today reported financial results for the third quarter ended September 30, 2026.
Full Year 2026 Financial Outlook and Webcast and Conference Call Information
Given the pending acquisition of Penumbra, Inc. by Boston Scientific Corporation (NYSE: BSX), the Company will not be providing financial guidance for the full year 2026 or hosting a conference call to discuss financial results for the three months ended September 30, 2026.
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.
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: the risk that the pending acquisition by Boston Scientific Corporation will not be completed in the expected timeframe or at all, including the risk that required regulatory approvals will not be obtained; potential adverse effects to our business during the pendency of the acquisition, such as employee departures or diversion of management's attention from our business; 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, 2025 filed with the SEC on February 25, 2026. 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.
Condensed Consolidated Balance Sheets
(unaudited)
(in thousands)
September 30, 2026
December 31, 2025
Assets
Current assets:
Cash and cash equivalents
$ 254,282
$ 186,897
Marketable investments
419,330
357,919
Accounts receivable, net
195,216
190,021
Inventories
459,132
431,549
Prepaid expenses and other current assets
48,671
50,298
Total current assets
1,376,631
1,216,684
Property and equipment, net
156,443
117,436
Operating lease right-of-use assets
164,346
173,587
Finance lease right-of-use assets
23,510
25,972
Intangible assets, net
5,549
6,186
Goodwill
166,479
166,750
Deferred taxes
79,221
79,188
Other non-current assets
52,924
40,716
Total assets
$ 2,025,103
$ 1,826,519
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable
$ 41,961
$ 34,736
Accrued liabilities
174,767
132,163
Current operating lease liabilities
14,706
13,841
Current finance lease liabilities
2,376
2,393
Total current liabilities
233,810
183,133
Non-current operating lease liabilities
173,277
182,751
Non-current finance lease liabilities
19,031
20,714
Other non-current liabilities
15,476
12,318
Total liabilities
441,594
398,916
Stockholders' equity:
Common stock
39
39
Additional paid-in capital
1,236,068
1,185,525
Accumulated other comprehensive income
37
4,348
Retained earnings
347,365
237,691
Total stockholders' equity
1,583,509
1,427,603
Total liabilities and stockholders' equity
$ 2,025,103
$ 1,826,519
Penumbra, Inc.
Condensed Consolidated Statements of Operations
(unaudited)
(in thousands, except share and per share amounts)
Three Months Ended September 30,
Nine Months Ended September 30,
2026
2025
2026
2025
Revenue
$ 410,145
$ 354,685
$ 1,174,949
$ 1,018,280
Cost of revenue
129,842
114,269
376,291
337,971
Gross profit
280,303
240,416
798,658
680,309
Operating expenses:
Research and development
25,361
22,677
73,139
67,972
Sales, general and administrative
204,203
168,901
595,507
482,321
Total operating expenses
229,564
191,578
668,646
550,293
Income from operations
50,739
48,838
130,012
130,016
Interest and other income, net
5,577
3,487
14,179
11,477
Income before income taxes
56,316
52,325
144,191
141,493
Provision for income taxes
14,037
6,474
34,517
11,149
Net income
$ 42,279
$ 45,851
$ 109,674
$ 130,344
Net income per share:
Basic
$ 1.07
$ 1.17
$ 2.79
$ 3.36
Diluted
$ 1.07
$ 1.17
$ 2.77
$ 3.32
Weighted average shares outstanding:
Basic
39,402,195
39,078,378
39,344,326
38,827,038
Diluted
39,620,298
39,302,239
39,598,030
39,250,680
Penumbra, Inc.
Reconciliation of Revenue Growth by Geographic Regions
(unaudited)
(in thousands, except for percentages)
Three Months Ended
September 30,
Change
2026
2025
$
%
United States
$ 324,248
$ 275,029
$ 49,219
17.9 %
International
85,897
79,656
6,241
7.8 %
Total
$ 410,145
$ 354,685
$ 55,460
15.6 %
Nine Months Ended
September 30,
Change
2026
2025
$
%
United States
$ 926,080
$ 792,707
$ 133,373
16.8 %
International
248,869
225,573
23,296
10.3 %
Total
$ 1,174,949
$ 1,018,280
$ 156,669
15.4 %
Penumbra, Inc.
Reconciliation of Revenue Growth by Product Categories
(unaudited)
(in thousands, except for percentages)
Three Months Ended
September 30,
Change
2026
2025
$
%
Thrombectomy
$ 279,157
$ 236,422
$ 42,735
18.1 %
Embolization and Access
130,988
118,263
12,725
10.8 %
Total
$ 410,145
$ 354,685
$ 55,460
15.6 %
Nine Months Ended
September 30,
Change
2026
2025
$
%
Thrombectomy
$ 792,055
$ 693,222
$ 98,833
14.3 %
Embolization and Access
382,894
325,058
57,836
17.8 %
Total
$ 1,174,949
$ 1,018,280
$ 156,669
15.4 %
Investor Relations
Penumbra, Inc.
[email protected]
SOURCE Penumbra, Inc.