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Dec 31, 2024
Penumbra Q4 2024 Earnings Report
Penumbra reported revenue growth driven by strong U.S. thrombectomy sales but faced international revenue declines.
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
Penumbra
Penumbra Revenue by Segment
Penumbra Revenue by Geographic Location
Revenue by Segment
Thrombectomy Revenue
CapyFin.comEmbolization and Access Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comInternational Revenue
CapyFin.com 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