- Penumbra (PEN, Financial) achieved a 16.3% year-over-year revenue increase, totaling $324.1 million in Q1 2025.
- The U.S. Thrombectomy segment reported a significant 25% revenue growth, contributing $187.9 million.
- Gross margin improved to 66.6%, with the company maintaining its full-year revenue guidance between $1,340 million and $1,360 million.
Penumbra, Inc. (PEN), a leader in thrombectomy technologies, announced robust financial results for the first quarter of 2025, ending March 31. The company's total revenue rose to $324.1 million, marking a 16.3% increase from the same quarter in 2024. In constant currency terms, the growth was even higher at 16.9%.
The U.S. Thrombectomy segment demonstrated outstanding performance, with revenues increasing by 25% to $187.9 million, solidifying Penumbra's stronghold in the market. The growth in this segment played a key role in the company's overall impressive quarterly outcome.
Penumbra recorded a gross profit of $215.9 million, resulting in a gross margin of 66.6%, up from 65.0% in the previous year. This improvement was primarily driven by an advantageous product mix and enhanced manufacturing efficiencies.
The company's operating income was reported at $40.4 million, yielding an operating margin of 12.4%, a significant leap from $12.1 million a year prior. This was attributed to a disciplined expense management approach, which saw operating expenses account for 54.2% of total revenue, a decrease from 60.7% in the previous year.
Penumbra has reaffirmed its full-year 2025 revenue guidance between $1,340 million and $1,360 million. Additionally, the company anticipates further growth in the U.S. Thrombectomy segment, raising its growth forecast to 20-21%. Management also expects a continued expansion of gross margin by at least 100 basis points.
