Penumbra Q1 2021 Earnings Report
Key Takeaways
Penumbra, Inc. reported a revenue of $169.2 million in the first quarter of 2021, representing a 23.2% increase compared to the first quarter of 2020. The company's vascular product sales grew by 50.5%, while neuro product sales increased by 2.5%.
Total revenue increased to $169.2 million, a 23.2% increase compared to Q1 2020.
Vascular product revenue grew by 50.5% compared to Q1 2020.
Neuro product revenue grew by 2.5% compared to Q1 2020.
Operating income for the first quarter of 2021 was $13.5 million.
Penumbra
Penumbra
Penumbra Revenue by Segment
Penumbra Revenue by Geographic Location
Forward Guidance
The Company is increasing its guidance for 2021 total revenue to be in the range of $695 million to $705 million, which represents growth of 24% to 26% over 2020 revenue of $560.4 million.
Positive Outlook
- Increased revenue guidance for 2021.
- Projected revenue growth of 24% to 26% over 2020.
- New revenue range compares favorably to the previous range.
- Continued focus on innovative therapies.
- Strong sales organization in the United States, Europe, Canada and Australia.
Challenges Ahead
- Impact of the COVID-19 pandemic on business.
- Risk of failure to sustain or grow profitability.
- Potential delays in product introductions.
- Significant competition in the market.
- Risk of unfavorable outcomes in clinical trials.
Revenue & Expenses
Visualization of income flow from segment revenue to net income