Penumbra Inc. ( (PEN) ) has released its Q4 earnings. Here is a breakdown of the information Penumbra Inc. presented to its investors.
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Penumbra, Inc., headquartered in Alameda, California, is a prominent player in the medical industry, specializing in thrombectomy products aimed at treating challenging medical conditions like ischemic stroke and venous thromboembolism. The company is renowned for its innovative solutions including computer-assisted vacuum thrombectomy (CA VT) technology, catering to healthcare providers globally.
Penumbra’s financial results for the fourth quarter and full year 2024 reveal a solid performance, with a notable increase in adjusted revenue despite some international challenges. The company reported a 12.9% increase in adjusted revenue for the fourth quarter, reaching $321.3 million, and a 13.4% rise for the full year, totaling $1,200.4 million. This growth was driven primarily by the U.S. market, while international revenues faced a decline.
Key financial metrics highlight Penumbra’s strong operational performance, with the U.S. thrombectomy products showing a remarkable 27.3% increase in sales for the fourth quarter. However, international sales experienced a 13.9% decrease due to challenges in China. The company’s gross profit for the fourth quarter was $210.7 million, with a gross margin of 66.8%, indicating an improvement from the previous year’s performance.
Despite some setbacks, such as the Italian government’s payback provision and the wind-down of the Immersive Healthcare business, Penumbra achieved a net income of $14.0 million for the full year 2024. The company’s forward-looking statements project a promising revenue growth of 12% to 14% for 2025, driven by innovations in its thrombectomy franchise.
Looking ahead, Penumbra’s management expects revenue growth to continue, with particular emphasis on expanding its U.S. thrombectomy market presence. The company anticipates gross margin expansion and improved operational efficiency, setting a positive outlook for 2025.
