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, 2024 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 ...

Revenue Performance - Adjusted total revenue for Q4 2024 increased to $321.3 million, a 12.9% increase from Q4 2023, with U.S. revenue growing by 21.7%[3] - Total revenue for the full year 2024 reached $1,194.6 million, reflecting a 12.9% increase compared to 2023[5] - Revenue from global thrombectomy products for Q4 2024 was $222.7 million, up 16.8% year-over-year, primarily driven by U.S. sales which increased by 27.3%[3] - GAAP revenue for Q4 2024 was $315,518,000, compared to $284,679,000 in Q4 2023, representing an increase of 10.8%[25] - Adjusted revenue for the year ended December 31, 2024, was $1,200,412,000, reflecting a 13.4% increase from $1,058,522,000 in 2023[28] - Total revenue for Q4 2024 was $321.3 million, representing a 10.8% increase compared to $284.7 million in Q4 2023[36] - For the full year 2024, total revenue was $1.2 billion, a 12.9% increase from $1.1 billion in 2023[39] - Total revenue for 2024 reached $1,194,615, representing a 12.9% increase from $1,058,522 in 2023[40] Profitability Metrics - Gross profit for Q4 2024 was $210.7 million, representing a gross margin of 66.8%[4] - Adjusted EBITDA for Q4 2024 was $63.7 million, resulting in an adjusted EBITDA margin of 19.8%[3] - Net income for Q4 2024 was $33.7 million, with a net income margin of 10.7%[3] - Adjusted gross profit for the year ended December 31, 2024, was $760,792,000, up from $682,643,000 in 2023, indicating an increase of 11.5%[28] - The adjusted gross margin for Q4 2024 was 67.4%, compared to 65.7% in Q4 2023[28] - GAAP net income for Q4 2024 was $33,683, compared to $54,218 in Q4 2023, representing a decline of 38.0%[33] - Non-GAAP net income for the year ended December 31, 2024, was $87,083, compared to $81,882 in 2023, showing a growth of 6.5%[33] Expenses and Investments - Operating expenses for Q4 2024 totaled $167.9 million, or 53.2% of total revenue, compared to 53.4% in Q4 2023[4] - R&D expenses for the full year 2024 were $94.8 million, compared to $84.4 million in 2023[6] - GAAP operating expenses for Q4 2024 were $167,946, an increase of 10.5% from $151,963 in Q4 2023[31] - Non-GAAP operating expenses for the year ended December 31, 2024, were $654,218, up from $581,358 in 2023, reflecting a 12.5% increase[31] Future Projections - The company projects total revenue for 2025 to be between $1,340.0 million and $1,360.0 million, indicating a year-over-year growth of 12% to 14%[9] - The U.S. thrombectomy franchise is expected to grow by 19% to 20% year-over-year, driven by computer-assisted vacuum thrombectomy products[9] Asset and Liability Overview - Total current assets as of December 31, 2024, were $951,125,000, compared to $915,402,000 in 2023, showing an increase of 3.9%[23] - Total liabilities as of December 31, 2024, were $382,250,000, slightly up from $377,361,000 in 2023[23] - Cash and cash equivalents increased to $324,404,000 in 2024 from $167,486,000 in 2023, representing a significant increase of 93.6%[23] International Revenue Insights - International revenue decreased by 16.5% to $67.6 million from $81.0 million year-over-year[36] - The company reported a $5.8 million negative adjustment in international revenue due to foreign exchange impacts[39] - The company experienced a 2.9% decline in international Embolization revenue for the full year, totaling $292.5 million compared to $301.4 million in 2023[39] - International Thrombectomy revenue showed a slight increase to $168,764, up 0.8% from $167,457 in 2023[40] - International Embolization and Access revenue decreased by 7.6% to $123,784 from $133,914 in 2023[40] Market Strategy - The company continues to focus on expanding its market presence and developing new products and technologies[40]

ALAMEDA, Calif., Feb. 18, 2025 /PRNewswire/ -- Penumbra, Inc. (NYSE: PEN), the world's leading thrombectomy company, today reported financial results for the fourth quarter and full year ended December 31, 2024.Financial Highlights: Adjusted revenue1 of $321.3 million, excluding the $5.8 million impact of the Italian government's payback provision pertaining to prior years, an increase of 12.9% adjusted2 or 13.0% in adjusted constant currency2 compared to the fourth quarter of 2023. Adjusted revenue1 of $1, ...

Penumbra, Inc.’s (PEN) thrombectomy business is thriving, driven by growing sales of the U.S. vascular thrombectomy and CAVT (computer-assisted vacuum thrombectomy) line of products. The company anticipates strong early adoption of its computer-aided thrombectomy products in Europe, paving the way for wider international expansion. Sound financial health also bodes well for the stock. Meanwhile, adverse macroeconomic impacts and intense competition may pose operational risks for the company.               I ...

ALAMEDA, Calif., Jan. 21, 2025 /PRNewswire/ -- Penumbra, Inc. (NYSE: PEN) today announced that it will host a conference call to discuss financial results for the fourth quarter and full year 2024 after market close on Tuesday, February 18, 2025 at 4:30 PM Eastern Time. A press release with fourth quarter and full year 2024 financial results will be issued after market close that day.Webcast & Conference Call InformationThe conference call can be accessed live over the phone by dialing (888) 596-4144 (confe ...

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. But finding a growth stock that can live up to its true potential can be a tough task.By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss.However, it's pretty easy to find cutting-edge growth stocks with the ...

Penumbra (PEN) shares rallied 6.3% in the last trading session to close at $252.23. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.5% loss over the past four weeks.Penumbra scored a strong price increase driven by optimism surrounding Stryker's entry into the high-growth mechanical thrombectomy (“MT”) sector with the acquisition of Inari Medical, Inc. A notable competitor like Stryker implies greater focus ...

Robust improvement of Penumbra, Inc.’s (PEN) Thrombectomy business is poised to help the company grow in the upcoming quarters. PEN expects impressive growth as it plans to expand globally in the coming years. A robust solvency position also bodes well for the stock. Meanwhile, unfavorable foreign exchange remains a concern for Penumbra.  In the past six months, shares of this Zacks Rank #2 (Buy) company have rallied 32.4% compared with the industry’s 0.3% growth and the S&P 500 composite’s 6.8% gain.The gl ...

ALAMEDA, Calif., Dec. 30, 2024 /PRNewswire/ -- Penumbra, Inc. (NYSE: PEN) today announced that its management team is scheduled to present at the 43rd Annual J.P. Morgan Healthcare Conference on Monday, January 13, 2025. Event:     43rd Annual J.P. Morgan Healthcare ConferenceDate:       Monday, January 13, 2025Time:      6:00pm ET/3:00pm PT A webcast of the presentation can be accessed on the "Events and Presentations" section under the "Investors" tab of the company's website at www.penumbrainc.com.  The ...

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. But finding a great growth stock is not easy at all.That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss.However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Gro ...