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Jun 30, 2025
Penumbra Q2 2025 Earnings Report
Penumbra delivered strong growth in Q2 2025 with double-digit revenue and margin expansion, driven by U.S. thrombectomy performance.
Key Takeaways
Penumbra reported a 13.4% year-over-year revenue increase in Q2 2025, with solid gains in both thrombectomy and embolization segments, along with significant improvement in operating margins and profitability.
Revenue reached $339.5 million, up 13.4% year-over-year.
Net income was $45.3 million, with a 13.3% net margin.
Adjusted EBITDA margin expanded to 18.1%.
U.S. thrombectomy sales rose 22.6% year-over-year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Penumbra raised its full-year revenue outlook, maintaining growth expectations in thrombectomy and profitability targets.
Positive Outlook
- Raised full-year 2025 revenue guidance to $1.355B–$1.370B.
- Maintained 20–21% U.S. Thrombectomy growth outlook.
- Continued gross margin improvement expected in H2 2025.
- Operating margin guidance remains intact.
- Strong product mix and volume trends support future growth.
Challenges Ahead
- International revenue declined by 3.2% in Q2 2025.
- FX headwinds impacted international growth.
- Gross margin sensitive to product and regional mix.
- Cost base pressure remains from SG&A spend.
- No increase in guidance for international segment.
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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