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Penumbra Q3 2026 net income falls to $42.3M

Net income was $42.3 million, and Penumbra cited its pending acquisition as the reason it will not issue full-year 2026 guidance.

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Form Type
8-K

Rhea-AI Filing Summary

Penumbra, Inc. reported third-quarter 2026 revenue of $410.1 million, up 15.6% from a year earlier. Global thrombectomy revenue was $279.2 million, up 18.1%, and global embolization and access revenue was $131.0 million, up 10.8%; U.S. neuro revenue was $77.9 million, up 19.3%. Gross profit margin was 68.3%, an increase of 0.5% compared with third-quarter 2025.

Operating expenses totaled $229.6 million, including $25.4 million in research and development and $204.2 million in sales, general and administrative expenses; the latter includes $7.1 million of acquisition-related expenses associated with the pending acquisition by Boston Scientific Corporation. Income from operations was $50.7 million, compared with $48.8 million in third-quarter 2025; net income was $42.3 million, versus $45.9 million.

For the first nine months of 2026, revenue was $1,174.9 million, up 15.4% from the same period in 2025. At September 30, 2026, cash and cash equivalents were $254.3 million and marketable investments were $419.3 million. Because of the pending acquisition, Penumbra said it will not provide full-year 2026 financial guidance or host a conference call about the quarter.

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0 major · 1 point

How the balance works

Positive

  • Moderate pointRevenue rose 15.6% to $410.1 million in the third quarter of 2026.

Negative

  • Moderate pointNet income declined to $42.3 million from $45.9 million.

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Analyzing...

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Revenue $410.1 million Third quarter 2026; up 15.6% compared with third quarter 2025
Global thrombectomy revenue $279.2 million Third quarter 2026; up 18.1% compared with third quarter 2025
Global embolization and access revenue $131.0 million Third quarter 2026; up 10.8% compared with third quarter 2025
U.S. neuro revenue $77.9 million Third quarter 2026; up 19.3% compared with the same period a year earlier
Gross profit margin 68.3% Third quarter 2026; reported increase of 0.5% compared with third quarter 2025
Total operating expenses $229.6 million Third quarter 2026
Income from operations $50.7 million Third quarter 2026; $48.8 million in third quarter 2025
Net income $42.3 million Third quarter 2026; $45.9 million in third quarter 2025
computer assisted vacuum thrombectomy (CAVT) technical
"portfolio, which includes computer assisted vacuum thrombectomy (CAVT)"
venous thromboembolism medical
"venous thromboembolism such as pulmonary embolism"
Venous thromboembolism is a medical condition in which a blood clot forms in a vein, often starting in the leg (a deep vein thrombosis) and sometimes breaking off to block blood flow in the lung (a pulmonary embolism). It matters to investors because VTE drives demand for diagnostics, treatments and hospital services, influences regulatory reviews and liability risk for healthcare firms, and can affect costs and revenue forecasts much like a sudden traffic jam disrupts movement and operations in a supply network.
ischemic stroke medical
"conditions such as ischemic stroke"
An ischemic stroke occurs when a blood vessel supplying the brain is blocked, cutting off oxygen and nutrients to part of the brain — like a kinked garden hose that stops water flow. It matters to investors because its incidence and outcomes drive demand for drugs, emergency devices, diagnostic tools, rehabilitation services and clinical trials; changes in treatment effectiveness, approvals or costs can materially affect healthcare companies and insurers.
marketable investments financial
"Marketable investments"
Revenue $410.1 million Up 15.6% compared with the third quarter of 2025
Global thrombectomy revenue $279.2 million Up 18.1% compared with the third quarter of 2025
Global embolization and access revenue $131.0 million Up 10.8% compared with the third quarter of 2025
Gross profit margin 68.3% Increase of 0.5% compared with the third quarter of 2025
Net income $42.3 million Compared with $45.9 million in the third quarter of 2025
Guidance

Penumbra will not provide full-year 2026 financial guidance or host a conference call to discuss the third-quarter results, citing the pending acquisition by Boston Scientific Corporation.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much revenue did PEN report in Q3 2026?
PEN reported $410.1 million in third-quarter 2026 revenue, up 15.6% from the third quarter of 2025. Global thrombectomy revenue was $279.2 million, and global embolization and access revenue was $131.0 million.

What was PEN’s net income in Q3 2026?
PEN reported $42.3 million in third-quarter 2026 net income, compared with $45.9 million in the third quarter of 2025. Income from operations was $50.7 million, compared with $48.8 million a year earlier.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR Accepted by SEC EDGAR
0001321732FALSE00013217322026-10-292026-10-29

__________________________________________________________________________________________________________________________

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________________________________________________________________________________________________________________

FORM 8-K 
_______________________________________________________________________________________________________________________________

CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

October 29, 2026
Date of Report (Date of earliest event reported) 
_______________________________________________________________________________________________________________________________

Penumbra, Inc.
(Exact name of registrant as specified in its charter)
_______________________________________________________________________________________________________________________________
Delaware001-3755705-0605598
(State or other jurisdiction of incorporation or organization)(Commission File No.)(I.R.S. employer identification number)
One Penumbra Place
Alameda, CA 94502
(Address of principal executive offices, including zip code)
 
(510) 748-3200
(Registrant’s telephone number, including area code) 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions: 
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, Par value $0.001 per sharePENThe New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

_______________________________________________________________________________________________________________________________





_______________________________________________________________________________________________________________________________

Item 2.02.Results of Operations and Financial Condition.
 
On October 29, 2026, Penumbra, Inc. issued a press release announcing financial results for the third fiscal quarter ended September 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information furnished on this Current Report on Form 8-K, including the attached exhibit, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such a filing, except as expressly set forth by specific reference in such a filing.

Item 9.01.Financial Statements and Exhibits.

(d) Exhibits.

Exhibit NumberDescription
99.1
Press release of Penumbra, Inc. dated October 29, 2026.
104Cover Page Interactive Data File (formatted as Inline Extensible Business Reporting Language).



SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
Penumbra, Inc.
Date: October 29, 2026By:/s/ Maggie Yuen
Maggie Yuen
Chief Financial Officer




Exhibit 99.1
image1.jpg
Penumbra, Inc. Reports Third Quarter 2026 Financial Results

ALAMEDA, Calif., Oct. 29, 2026 /PRNewswire/ -- Penumbra, Inc. (NYSE: PEN), the world’s leading thrombectomy company, today reported financial results for the third quarter ended September 30, 2026.
•Revenue of $410.1 million in the third quarter of 2026, an increase of 15.6% compared to the third quarter of 2025.
•Global thrombectomy revenue of $279.2 million in the third quarter of 2026, an increase of 18.1% compared to the third quarter of 2025. U.S. VTE revenue increased 26.0% compared to the same period a year ago.
•Global embolization and access revenue of $131.0 million in the third quarter of 2026, an increase of 10.8% compared to the third quarter of 2025.
•U.S. neuro revenue of $77.9 million in the third quarter of 2026, an increase of 19.3% compared to the third quarter of 2025.
•Gross profit margin of 68.3% in the third quarter of 2026, an increase of 0.5% compared to the third quarter of 2025.
•Total operating expenses of $229.6 million in the third quarter of 2026, comprised of R&D of $25.4 million and SG&A of $204.2 million, which includes $7.1 million of acquisition-related expenses associated with the pending acquisition of Penumbra, Inc. by Boston Scientific Corporation.
•Income from operations of $50.7 million and net income of $42.3 million in the third quarter of 2026.

Full Year 2026 Financial Outlook and Webcast and Conference Call Information
Given the pending acquisition of Penumbra, Inc. by Boston Scientific Corporation (NYSE: BSX), the Company will not be providing financial guidance for the full year 2026 or hosting a conference call to discuss financial results for the three months ended September 30, 2026.
About Penumbra
Penumbra, Inc., the world’s leading thrombectomy company, is focused on developing the most innovative technologies for challenging medical conditions such as ischemic stroke, venous thromboembolism such as pulmonary embolism, and acute limb ischemia. Our broad portfolio, which includes computer assisted vacuum thrombectomy (CAVT), centers on removing blood clots from head-to-toe with speed, safety and simplicity. By pioneering these innovations, we support healthcare providers, hospitals and clinics in more than 100 countries, working to improve patient outcomes and quality of life. For more information, visit www.penumbrainc.com and connect on Instagram, LinkedIn, and X.

Forward-Looking Statements
Except for historical information, certain statements in this press release are forward-looking in nature and are subject to risks, uncertainties and assumptions about us. Our business and operations are subject to a variety of risks and uncertainties and, consequently, actual results may differ materially from those projected by any forward-looking statements. Factors that could cause actual results to differ from those projected include, but are not limited to: the risk that the pending acquisition by Boston Scientific Corporation will not be completed in the expected timeframe or at all, including the risk that required regulatory approvals will not be obtained; potential adverse effects to our business during the pendency of the acquisition, such as employee departures or diversion of management’s attention from our business; failure to sustain or grow profitability or generate positive cash flows; failure to effectively introduce and market new products; delays in product introductions; significant competition; inability to further penetrate our current customer base, expand our user base and increase the frequency of use of our products by our customers; inability to achieve or maintain satisfactory pricing and margins; manufacturing difficulties; permanent write-downs or write-offs of our inventory or other assets; product defects or failures; unfavorable outcomes in clinical trials; inability to maintain our culture as we grow; fluctuations in foreign currency exchange rates; potential adverse regulatory actions; and the potential impact of any acquisitions, mergers, dispositions, joint ventures or investments we may make. These risks and uncertainties, as well as others, are discussed in greater detail in our filings with the Securities and Exchange Commission ("SEC"), including our Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on February 25, 2026. There may be additional risks of which we are not presently aware or that we currently believe are immaterial which could have an adverse impact on our business. Any forward-looking




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statements are based on our current expectations, estimates and assumptions regarding future events and are applicable only as of the dates of such statements. We make no commitment to revise or update any forward-looking statements in order to reflect events or circumstances that may change.

2

Penumbra, Inc.
Condensed Consolidated Balance Sheets
(unaudited)
(in thousands)
September 30, 2026December 31, 2025
Assets
Current assets:
     Cash and cash equivalents$254,282 $186,897 
     Marketable investments419,330 357,919 
     Accounts receivable, net 195,216 190,021 
     Inventories459,132 431,549 
     Prepaid expenses and other current assets48,671 50,298 
          Total current assets1,376,631 1,216,684 
Property and equipment, net156,443 117,436 
Operating lease right-of-use assets164,346 173,587 
Finance lease right-of-use assets23,510 25,972 
Intangible assets, net5,549 6,186 
Goodwill166,479 166,750 
Deferred taxes79,221 79,188 
Other non-current assets52,924 40,716 
         Total assets$2,025,103 $1,826,519 
Liabilities and Stockholders’ Equity
Current liabilities:
     Accounts payable$41,961 $34,736 
     Accrued liabilities174,767 132,163 
  Current operating lease liabilities14,706 13,841 
  Current finance lease liabilities2,376 2,393 
          Total current liabilities233,810 183,133 
Non-current operating lease liabilities173,277 182,751 
Non-current finance lease liabilities19,031 20,714 
Other non-current liabilities15,476 12,318 
          Total liabilities441,594 398,916 
Stockholders’ equity:
Common stock39 39 
Additional paid-in capital1,236,068 1,185,525 
Accumulated other comprehensive income37 4,348 
Retained earnings347,365 237,691 
Total stockholders’ equity1,583,509 1,427,603 
Total liabilities and stockholders’ equity$2,025,103 $1,826,519 


3

Penumbra, Inc.
Condensed Consolidated Statements of Operations
(unaudited)
(in thousands, except share and per share amounts)
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Revenue$410,145 $354,685 $1,174,949 $1,018,280 
Cost of revenue129,842 114,269 376,291 337,971 
Gross profit280,303 240,416 798,658 680,309 
Operating expenses:
Research and development 25,361 22,677 73,139 67,972 
Sales, general and administrative 204,203 168,901 595,507 482,321 
Total operating expenses 229,564 191,578 668,646 550,293 
Income from operations50,739 48,838 130,012 130,016 
Interest and other income, net5,577 3,487 14,179 11,477 
Income before income taxes56,316 52,325 144,191 141,493 
Provision for income taxes14,037 6,474 34,517 11,149 
Net income$42,279 $45,851 $109,674 $130,344 
Net income per share:
Basic$1.07 $1.17 $2.79 $3.36 
Diluted$1.07 $1.17 $2.77 $3.32 
Weighted average shares outstanding:
Basic39,402,195 39,078,378 39,344,326 38,827,038 
Diluted39,620,298 39,302,239 39,598,030 39,250,680 


4

Penumbra, Inc.
Reconciliation of Revenue Growth by Geographic Regions
(unaudited)
(in thousands, except for percentages)
Three Months Ended September 30,Change
20262025$%
United States$324,248 $275,029 $49,219 17.9 %
International85,897 79,656 6,241 7.8 %
Total$410,145 $354,685 $55,460 15.6 %

Nine Months Ended September 30,Change
20262025$%
United States$926,080 $792,707 $133,373 16.8 %
International248,869 225,573 23,296 10.3 %
Total$1,174,949 $1,018,280 $156,669 15.4 %

Penumbra, Inc.
Reconciliation of Revenue Growth by Product Categories
(unaudited)
(in thousands, except for percentages)
Three Months Ended September 30,Change
20262025$%
Thrombectomy$279,157 $236,422 $42,735 18.1 %
Embolization and Access130,988 118,263 12,725 10.8 %
Total$410,145 $354,685 $55,460 15.6 %

Nine Months Ended September 30,Change
20262025$%
Thrombectomy$792,055 $693,222 $98,833 14.3 %
Embolization and Access382,894 325,058 57,836 17.8 %
Total$1,174,949 $1,018,280 $156,669 15.4 %



Investor Relations
Penumbra, Inc.
investors@penumbrainc.com
Source: Penumbra, Inc.

5

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