EarningsQ3 2025 Earnings Report

Penumbra (PEN) Q3 2025 Earnings Report

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Previous Report: Q2 2025

Next Report: Q4 2025

MX:PEN Q3 2025 EPS Results

Actual EPS$17.62

Consensus EPS$16.87

Beat/MissBeat by +$0.74

One Year Ago EPS$15.44

MX:PEN Q3 2025 Revenue Results

Actual Revenue$6.44B

Expected Revenue$6.19B

Beat/MissBeat by +$249.42M

YoY Revenue Growth+17.82%

Earnings Announcement Details

QuarterQ3 2025

Date11/05/2025

TimeAfter Close

Conference CallWednesday, November 5, 2025

MX:PEN Upcoming Earnings

Penumbra's next earnings date is estimated for November 4, 2026, based on past reporting schedules.

Q3 2025 Earnings Call Audio

MX:PEN Q3 2025 Earnings Call

0:00 / 0:00

Q3 2025 Earnings Slide Deck

No slide deck is available for this earnings event.

Q3 2025 Earnings Call Summary

Q3 2025

Earnings Call Date:Nov 05, 2025|

% Change Since:

Earnings Call Sentiment|Positive

The earnings call reflected a strong performance with significant revenue growth, particularly in the VTE and embolization segments, and positive developments in clinical trials, offset by some challenges in international markets and increased operational costs.

Company Guidance

During Penumbra's third-quarter 2025 conference call, the company reported total revenue of $354.7 million, marking a 17.8% year-over-year growth on a reported basis and 16.9% in constant currency. U.S. revenue reached $275 million, a 21.5% increase compared to the previous year. Specifically, U.S. thrombectomy sales rose by 18.5% to $192 million, while the VTE franchise led corporate growth with a 34% rise. Meanwhile, U.S. embolization and access revenue soared by 29.2% to $83 million. International revenue was $79.7 million, reflecting a 6.6% year-over-year increase. The company's gross margin expanded by 130 basis points to 67.8%, and operating income stood at $48.8 million, or 13.8% of revenue. Penumbra's guidance for the year was raised to $1.375 billion to $1.380 billion in revenue, with anticipated U.S. thrombectomy growth of 20% to 21% for 2025. The company remains focused on expanding its market presence, particularly through innovative products like the Lightning Bolt 16 and Lightning Flash 3.0, which have received FDA clearance.

Strong Revenue Growth

Total revenue reached $354.7 million, showing a year-over-year growth of 17.8% on a reported basis and 16.9% in constant currency. U.S. revenue grew by 21.5% to $275 million.

VTE Franchise Leading Growth

The VTE franchise delivered a 34% year-over-year growth, driving overall corporate growth.

Embolization and Access Revenue Surge

U.S. embolization and access revenue increased by 29.2% year-over-year to $83 million.

Gross Margin Expansion

Gross margin improved to 67.8%, up 130 basis points from the previous year, with expectations to reach over 70% by the end of 2026.

Positive Feedback for STORM-PE Trial

STORM-PE trial results showed CAVT superior in reducing right heart strain in PE patients with a favorable safety profile, receiving positive feedback from the medical community.

Raising Revenue Guidance

The company raised its revenue guidance for the year to $1.375 billion to $1.380 billion.

MX:PEN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Nov 04, 2026	2026 (Q3)	21.87 / -	17.616	―
Jul 30, 2026	2026 (Q2)	21.10 / 15.98	15.618	2.33% (+0.36)
May 06, 2026	2026 (Q1)	18.85 / 14.89	15.073	-1.20% (-0.18)
Feb 25, 2026	2025 (Q4)	20.19 / 21.43	17.616	21.65% (+3.81)
Nov 05, 2025	2025 (Q3)	16.87 / 17.62	15.437	14.12% (+2.18)
Jul 29, 2025	2025 (Q2)	14.98 / 15.62	11.623	34.37% (+4.00)
Apr 23, 2025	2025 (Q1)	12.11 / 15.07	7.446	102.44% (+7.63)
Feb 18, 2025	2024 (Q4)	16.27 / 17.62	13.802	27.63% (+3.81)
Oct 30, 2024	2024 (Q3)	12.48 / 15.44	12.168	26.87% (+3.27)
Jul 30, 2024	2024 (Q2)	10.10 / 11.62	7.809	48.84% (+3.81)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed