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Mar 31, 2023
Penumbra Q1 2023 Earnings Report
Penumbra's revenue increased by 18.4% and reported a net income for Q1 2023.
Key Takeaways
Penumbra, Inc. reported financial results for the first quarter ended March 31, 2023, with total revenue increasing to $241.4 million, an 18.4% increase compared to the first quarter of 2022. The company reported a net income of $8.6 million, a significant improvement from the $0.1 million net income in the same period last year.
Total revenue increased by 18.4% to $241.4 million compared to Q1 2022.
Vascular product revenue grew by 16.3% to $142.8 million.
Neuro product revenue grew by 21.5% to $98.5 million.
Income from operations was $8.0 million, compared to a loss from operations of $4.0 million in Q1 2022.
Revenue by Geographic Location
Forward Guidance
The Company is increasing its guidance for 2023 total revenue to be in the range of $1.04 billion to $1.06 billion, which represents 23% to 25% growth over 2022 revenue of $847.1 million.
Positive Outlook
- Increased guidance for 2023 total revenue.
- Revenue expected to be in the range of $1.04 billion to $1.06 billion.
- Represents 23% to 25% growth over 2022 revenue.
- Vascular business growth expected to be slightly above the total revenue growth range.
- Neuro business growth expected to be below the total revenue growth range.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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