Penumbra Q4 2024 Earnings Report
Key Takeaways
Penumbra's Q4 2024 revenue grew 10.8% YoY to $315.52 million, driven by strong U.S. thrombectomy sales (+27.3% YoY). Net income decreased by 37.85% YoY to $33.68 million. Gross margin improved to 66.8%, while operating margin expanded to 13.6%. International revenue declined 16.5% YoY due to lower sales in China.
Revenue increased 10.8% YoY to $315.52 million.
U.S. thrombectomy sales surged 27.3% YoY, while international revenue declined 16.5%.
Gross margin improved to 66.8%, and operating margin expanded to 13.6%.
Net income fell 37.85% YoY to $33.68 million due to higher operating expenses.
Penumbra Revenue
Penumbra EPS
Penumbra Revenue by Segment
Penumbra Revenue by Geographic Location
Forward Guidance
Penumbra expects 12%-14% revenue growth in 2025, driven by its U.S. thrombectomy franchise and expansion of its computer-assisted vacuum thrombectomy (CAVT) products.
Positive Outlook
- 2025 revenue expected to grow between 12% and 14%.
- U.S. thrombectomy expected to grow 19%-20% YoY.
- Gross margin expected to exceed 67%.
- Operating margin expected to expand to 13%-14%.
- Continued investment in innovative thrombectomy technologies.
Challenges Ahead
- International revenue remains under pressure due to declines in China.
- Higher operating expenses could impact profitability.
- Market competition in thrombectomy space increasing.
- Foreign exchange fluctuations may impact revenue growth.
- Potential supply chain constraints affecting production.
Revenue & Expenses
Visualization of income flow from segment revenue to net income