Penumbra(US:PEN)2025-11-05 21:15Revenue Performance - Total revenue for Q3 2025 reached $354.7 million, a 17.8% increase from $301.0 million in Q3 2024[3] - U.S. revenue accounted for 77.5% of total revenue, with a 21.5% increase to $275.0 million compared to Q3 2024[8] - Revenue from global thrombectomy products grew to $236.4 million, a 15.8% increase year-over-year[3] - Revenue from global embolization and access products reached $118.3 million, marking a 22.0% increase compared to the same period last year[3] - U.S. revenue for Q3 2025 was $275.029 million, a 21.5% increase from $226.326 million in Q3 2024[29] - International revenue for Q3 2025 was $79.656 million, a 6.6% increase from $74.713 million in Q3 2024[29] - For the three months ended September 30, 2025, total revenue was $354.685 million, representing a reported change of $53.646 million or 17.8% growth compared to the same period in 2024[30] - For the nine months ended September 30, 2025, total revenue reached $1.018 billion, reflecting a reported change of $139.183 million or 15.8% growth compared to the same period in 2024[33] Profitability Metrics - Gross profit for Q3 2025 was $240.4 million, representing a gross margin of 67.8%, up from 66.5% in Q3 2024[3] - Net income for Q3 2025 was $45.9 million, with an adjusted EBITDA of $66.7 million, yielding net income and adjusted EBITDA margins of 12.9% and 18.8%, respectively[8] - Net income for Q3 2025 was $45.851 million, up from $29.527 million in Q3 2024, resulting in a net income margin of 12.9%[22] - Adjusted EBITDA for Q3 2025 was $66.723 million, representing an adjusted EBITDA margin of 18.8%[27] Operating Expenses - Operating expenses totaled $191.6 million, or 54.0% of total revenue, down from 54.8% in Q3 2024[4] - Total operating expenses for Q3 2025 were $191.578 million, up from $164.942 million in Q3 2024[22] - Research and development expenses decreased to $22.677 million in Q3 2025 from $25.205 million in Q3 2024[22] Guidance and Future Outlook - The company raised its full-year 2025 revenue guidance to between $1.375 billion and $1.380 billion, indicating a growth of 15% to 16% over 2024[6] - The company continues to focus on expanding its product offerings and market presence, particularly in the Thrombectomy and Embolization segments[30] - Penumbra, Inc. is committed to ongoing research and development to enhance its product portfolio and drive future growth[30] Earnings Per Share - The company reported a diluted EPS of $1.17 for Q3 2025, compared to $0.75 for Q3 2024[26] - Non-GAAP net income for Q3 2025 was $38.097 million, with a non-GAAP diluted EPS of $0.97[26] Currency Impact - The constant currency change for total revenue in the three months ended September 30, 2025, was $50.957 million or 16.9% growth, after accounting for a foreign exchange impact of $(2.689) million[32] - The constant currency change for total revenue in the nine months ended September 30, 2025, was $136.014 million or 15.5% growth, after accounting for a foreign exchange impact of $(3.169) million[33]