Penumbra(PEN)

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Penumbra(PEN) - 2022 Q3 - Quarterly Report
2022-11-03 20:45
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_____ to _____ Commission File Number: 001-37557 Penumbra, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 05-0605598 (I.R.S. Employer Identification No.) One Penumbra Place Alameda, CA 94502 For the quarterly perio ...
Penumbra(PEN) - 2022 Q2 - Earnings Call Transcript
2022-08-07 13:51
Penumbra, Inc. (NYSE:PEN) Q2 2022 Earnings Conference Call August 4, 2022 4:30 PM ET Company Participants Jee Hamlyn-Harris - Head of Investor Relations Adam Elsesser - President and Chief Executive Officer Sandra Lesenfants - President, Interventional Maggie Yuen - Chief Financial Officer Jason Mills - Executive Vice President, Strategy Conference Call Participants Lei Huang - Wells Fargo & Company Pito Chickering - Deutsche Bank David Rescott - Truist Securities Mike Matson - Needham & Company Brandon Vaz ...
Penumbra(PEN) - 2022 Q2 - Quarterly Report
2022-08-05 00:42
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FORM 10-Q (State or other jurisdiction of incorporation or organization) Delaware 05-0605598 (I.R.S. Employer Identification No.) One Penumbra Place For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Alameda, CA 94502 For the transition period from___ ...
Penumbra(PEN) - 2022 Q1 - Earnings Call Transcript
2022-05-04 03:32
Financial Data and Key Metrics Changes - Total revenues for Q1 2022 were $203.9 million, representing a year-over-year increase of 20.5% and 21.8% in constant currency [9][39] - Gross margin increased by 100 basis points sequentially to 62.5% [9][43] - Operating loss for Q1 2022 was $2.3 million, compared to an operating income of $13.5 million for the same period last year [47] Business Line Data and Key Metrics Changes - Vascular business revenue grew to $122.8 million, a 37.7% increase year-over-year [10][41] - Neuro business revenue was $81.1 million, reflecting a 1.3% increase year-over-year [15][42] - Vascular thrombectomy revenue increased by 43.2% year-over-year, while vascular embolization revenue grew by 28.8% [10] Market Data and Key Metrics Changes - U.S. sales accounted for 70.8% of total revenue, with reported growth of 20.2% [39] - International sales represented 29.2% of total revenue, with reported growth of 21.3% [39] - The U.S. stroke business delivered mid-teens growth year-over-year [16] Company Strategy and Development Direction - The company aims to reach nearly $1 billion in global revenue, with a focus on organic growth through product development [25] - Plans to launch new products in both neuro and vascular segments over the next 18 months [31] - The immersive healthcare segment is expected to contribute significantly to future growth [51] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth in China despite recent lockdowns, expecting solid growth in 2022 [11] - The company anticipates gradual margin expansion and operating profitability gains through 2022 and 2023 [51] - Management highlighted the importance of innovation in maintaining competitive advantage in the market [27] Other Important Information - The company successfully transitioned to a new ERP system, which is expected to enhance operational efficiency [34] - The vascular sales team in Europe is prepared to launch new technologies, including Lightning products [12][20] Q&A Session Summary Question: Clarification on the $5 million revenue from China - Management clarified that the $5 million revenue was due to an earlier-than-expected expansion into the vascular side of the business, which was initially anticipated for the second quarter [58][66] Question: Guidance and growth expectations - Management reiterated the 2022 revenue guidance range of $860 million to $875 million, citing a strong first quarter performance and the impact of product launches [49][78] Question: Neuro business growth rates and competition - Management acknowledged the competitive landscape in the neuro market but emphasized the continued growth in the U.S. stroke business and the potential impact of the Thunderbolt trial [85][86] Question: SG&A expenses breakdown - Management detailed that the increase in SG&A expenses was due to in-person activities returning, headcount investments, and infrastructure improvements, with expectations for slower growth in operating expenses moving forward [108][109]
Penumbra(PEN) - 2022 Q1 - Quarterly Report
2022-05-03 20:50
(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_____ to _____ Commission File Number: 001-37557 Penumbra, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpor ...
Penumbra(PEN) - 2021 Q4 - Earnings Call Transcript
2022-02-23 02:33
Penumbra, Inc. (NYSE:PEN) Q4 2021 Earnings Conference Call February 22, 2022 4:30 PM ET Company Participants Jee Hamlyn-Harris - Investor Relations Adam Elsesser - President, Chairman and Chief Executive Officer Maggie Yuen - Chief Financial Officer Jason Mills - Executive Vice President, Strategy Conference Call Participants Robbie Marcus - JPMorgan Larry Biegelsen - Wells Fargo Securities Bill Plovanic - Canaccord Genuity Operator Good afternoon. My name is Chris, and I'll be your conference operator toda ...
Penumbra(PEN) - 2021 Q4 - Annual Report
2022-02-22 21:47
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file number: 001-37557 Penumbra, Inc. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporatio ...
Penumbra(PEN) - 2021 Q3 - Earnings Call Transcript
2021-11-04 03:10
Penumbra, Inc. (NYSE:PEN) Q3 2021 Earnings Conference Call November 3, 2021 4:30 PM ET Company Participants Jee Harris - Investor Relations Adam Elsesser - President, Chairman and Chief Executive Officer Maggie Yuen - Chief Financial Officer Jason Mills - Executive Vice President, Strategy Conference Call Participants Larry Biegelsen - Wells Fargo Securities Robbie Marcus - JPMorgan Bob Hopkins - Bank of America Joanne Wuensch - Citigroup Operator Good afternoon. My name is Susan and I will be your con ...
Penumbra(PEN) - 2021 Q3 - Quarterly Report
2021-11-03 20:45
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_____ to _____ Commission File Number: 001-37557 Penumbra, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of inco ...
Penumbra(PEN) - 2021 Q2 - Earnings Call Transcript
2021-08-10 01:11
Penumbra, Inc. (NYSE:PEN) Q2 2021 Earnings Conference Call August 9, 2021 4:30 PM ET Company Participants Jee Hamlyn-Harris - Investor Relations Adam Elsesser - Chairman and Chief Executive Officer Maggie Yuen - Chief Financial Officer Jason Mills - Executive Vice President of Strategy Conference Call Participants Bob Hopkins - Bank of America Lawrence Biegelsen - Wells Fargo William Plovanic - Canaccord Robbie Marcus - JPMorgan Joanne Wuensch - Citigroup Margaret Kaczor - William Blair Operator Good aftern ...