Penumbra Reports 13.4% Revenue Growth to $339.5 Million in Latest Quarter

Penumbra, Inc. reported significant financial performance improvements in its latest quarterly filing, with revenues reaching $339.5 million for the three months ended June 30, 2025, a 13.4% increase from $299.4 million in the same period last year. For the first half of 2025, the company generated $663.6 million in revenue, up 14.8% from $578.1 million in the prior year. The increase in revenue was primarily driven by higher sales of thrombectomy products, which rose by 13.1% to $230.3 million, and embolization and access products, which grew by 13.9% to $109.2 million. The company also reported a net income of $45.3 million for the second quarter, compared to a net loss of $60.2 million in the same quarter of 2024.

The financial results reflect a notable recovery from the previous fiscal period, particularly following a $76.9 million impairment charge recorded in the second quarter of 2024 related to the company's immersive healthcare asset group. This impairment significantly impacted the prior year's operating results, resulting in a loss from operations of $81.0 million. In contrast, Penumbra achieved an income from operations of $40.8 million in the latest quarter, indicating a strong turnaround in profitability.

Operationally, Penumbra has continued to expand its product offerings and market presence. The company is focused on developing innovative technologies for medical conditions such as ischemic stroke and venous thromboembolism. As of June 30, 2025, Penumbra's cash and cash equivalents totaled $421.8 million, up from $324.4 million at the end of 2024, reflecting a solid liquidity position. The company also reported an increase in its employee headcount, which is expected to support its growth initiatives and product development efforts.

Geographically, the company saw a 19.5% increase in U.S. sales, which accounted for 76.8% of total revenue in the latest quarter. However, international sales decreased by 3.2% to $78.6 million, primarily due to a decline in revenue from China. Despite this, Penumbra remains committed to expanding its global footprint and enhancing its product adoption rates across various markets.

Looking ahead, Penumbra anticipates continued growth driven by its strategic investments in product development and market expansion. The company is also in the process of constructing a new manufacturing facility in Costa Rica, which is expected to enhance its production capabilities. Management expressed confidence in the company's ability to meet its liquidity requirements and execute its business strategy, although they acknowledged the potential need for additional financing to support ongoing growth initiatives.