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Penumbra (NYSE: PEN) Q2 revenue reaches $390.0 million amid Boston Scientific deal

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Penumbra, Inc. reported revenue of $390.0 million for the second quarter ended June 30, 2026, an increase of 14.9% compared with the second quarter of 2025. Global thrombectomy revenue was $259.0 million and global embolization and access revenue was $131.1 million.

Gross profit margin was 67.9%. Total operating expenses were $223.9 million, including $25.4 million of research and development and $198.5 million of sales, general and administrative expense, with $6.9 million related to the pending acquisition by Boston Scientific Corporation. Income from operations was $41.0 million and net income was $34.8 million. Because of the pending acquisition, the company will not provide full-year 2026 financial guidance or host a conference call to discuss these results.

Revenue growth included 17.1% growth in the United States and 7.6% growth internationally. By product category, thrombectomy revenue grew 12.5% and embolization and access revenue grew 20.0% compared with the second quarter of 2025.

Positive

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Filing Explained

At June 30, 2026, Penumbra reported $205,271 thousand in cash, $453,524 thousand in marketable investments, and $233,776 thousand in current liabilities.

As a Form 8-K, this filing reports Penumbra’s unaudited second-quarter results and balance sheet as of June 30, 2026; it gives existing common holders a current disclosed view of the company’s cash, investments, liabilities, and equity while the Boston Scientific acquisition remains pending.

The attached balance sheet is labeled unaudited and presents June 30, 2026 alongside December 31, 2025. At June 30, cash and cash equivalents were $205,271 thousand, marketable investments were $453,524 thousand, current liabilities were $233,776 thousand, and total stockholders’ equity was $1,530,766 thousand.

Cash and cash equivalents were $205,271 thousand, compared with $186,897 thousand at December 31, 2025, while marketable investments were $453,524 thousand, compared with $357,919 thousand. For the six months ended June 30, revenue was $764,804 thousand and net income was $67,395 thousand.

The acquisition’s completion remains unresolved: the filing identifies a risk that Boston Scientific may not complete it, including if required regulatory approvals are not obtained.

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, and exhibit attachments filed with this report.
Q2 2026 Revenue $390.0 million Revenue of $390.0 million in the second quarter of 2026, an increase of 14.9% compared to the second quarter of 2025.
Q2 2026 Global Thrombectomy Revenue $259.0 million Global thrombectomy revenue of $259.0 million in the second quarter of 2026, an increase of 12.5% compared to the second quarter of 2025.
Q2 2026 Embolization and Access Revenue $131.1 million Global embolization and access revenue of $131.1 million in the second quarter of 2026, an increase of 20.0% compared to the second quarter of 2025.
Q2 2026 Gross Profit Margin 67.9% Gross profit margin of 67.9% in the second quarter of 2026, an increase of 1.9% compared to the second quarter of 2025.
Q2 2026 Total Operating Expenses $223.9 million Total operating expenses of $223.9 million in the second quarter of 2026.
Q2 2026 Acquisition-Related Expenses $6.9 million Includes $6.9 million of acquisition-related expenses associated with the pending acquisition by Boston Scientific Corporation.
Q2 2026 Net Income $34.8 million Income from operations of $41.0 million and net income of $34.8 million in the second quarter of 2026.
thrombectomy medical
"Penumbra, Inc. (NYSE: PEN), the world’s leading thrombectomy company, today reported financial results"
A thrombectomy is a medical procedure that physically removes a blood clot from an artery or vein to restore normal blood flow, much like clearing a clogged pipe so fluids can pass again. For investors, thrombectomy matters because demand, device approvals, clinical results, and insurance coverage for these procedures affect sales and profitability of medical-device makers, hospitals’ treatment mix, and the outlook for companies developing related drugs or technologies.
computer assisted vacuum thrombectomy (CAVT) medical
"Our broad portfolio, which includes computer assisted vacuum thrombectomy (CAVT), centers on removing"
pulmonary embolism medical
"conditions such as ischemic stroke, venous thromboembolism such as pulmonary embolism, and acute limb ischemia"
A pulmonary embolism is a sudden blockage in a lung blood vessel, usually caused by a blood clot that traveled from elsewhere in the body; think of it like a kink in a hose that prevents water from reaching its destination. It matters to investors because it can create urgent medical costs, affect workforce availability, trigger safety concerns in clinical trials or products, and prompt regulatory scrutiny or liability claims that may influence a company’s finances and stock price.
operating lease right-of-use assets financial
"Operating lease right-of-use assets | | 167,194 | | | 173,587"
An operating lease right-of-use (ROU) asset is an accounting entry that shows the value of a leased item you have the legal right to use—like a building, vehicle, or equipment—recorded on a company’s balance sheet along with the corresponding lease obligation. Investors care because it adds to reported assets and liabilities, changing measures like leverage and return on assets much like bringing a long-term rental onto the company’s financial snapshot, which can affect credit terms and valuation.
accumulated other comprehensive income financial
"Accumulated other comprehensive income | | 1,363 | | | 4,348"
Accumulated other comprehensive income is a running total on a company’s balance sheet that records certain gains and losses not included in reported profit, such as unrealized gains or losses on some investments, currency translation differences, and pension plan adjustments. Think of it like items in a shopping cart you haven’t paid for yet: it doesn’t affect current profit but changes the company’s overall equity and signals potential future swings in value that investors should watch.
forward-looking statements regulatory
"Except for historical information, certain statements in this press release are forward-looking statements"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Revenue $390.0 million up 14.9% vs Q2 2025
Gross profit margin 67.9% increase of 1.9% vs Q2 2025
Net income $34.8 million lower than Q2 2025 net income
United States revenue growth 17.1% revenue grew 17.1% in the United States vs Q2 2025
International revenue growth 7.6% revenue grew 7.6% internationally vs Q2 2025
Guidance

The company is not providing full-year 2026 financial guidance or hosting a conference call for the quarter due to the pending acquisition by Boston Scientific Corporation.

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

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FAQ

What were Penumbra (PEN) revenue and growth in the second quarter of 2026?
Penumbra reported Q2 2026 revenue of $390.0 million, an increase of 14.9% compared with Q2 2025. Growth was driven by thrombectomy and embolization products, with both geographic regions and product categories contributing to higher sales versus the prior-year quarter.

How profitable was Penumbra (PEN) in Q2 2026?
Penumbra generated income from operations of $41.0 million and net income of $34.8 million in Q2 2026. The company reported a gross profit margin of 67.9%, and basic and diluted net income per share were both $0.88 for the quarter.

How did Penumbra (PEN) revenue perform by product category in Q2 2026?
In Q2 2026, global thrombectomy revenue was $259.0 million, up 12.5% year over year. Global embolization and access revenue was $131.1 million, increasing 20.0% compared with Q2 2025, highlighting strong performance across both major product categories.

How did Penumbra (PEN) revenue grow by geography in Q2 2026?
For Q2 2026, Penumbra’s revenue increased 17.1% in the United States and 7.6% internationally versus Q2 2025. Total revenue reached $390.0 million, reflecting broad-based demand across domestic and international markets during the quarter.

Why is Penumbra (PEN) not providing full-year 2026 guidance or hosting a Q2 earnings call?
Penumbra stated it will not provide full-year 2026 financial guidance or host a conference call for Q2 2026 results. The company cited the pending acquisition by Boston Scientific Corporation as the reason for withholding guidance and foregoing the usual earnings webcast.

What were Penumbra (PEN) operating expenses and their components in Q2 2026?
Total operating expenses in Q2 2026 were $223.9 million, including $25.4 million of research and development and $198.5 million of sales, general and administrative costs. SG&A included $6.9 million of acquisition-related expenses tied to the pending Boston Scientific transaction.
0001321732FALSE00013217322026-07-302026-07-30

__________________________________________________________________________________________________________________________

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

July 30, 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 July 30, 2026, Penumbra, Inc. issued a press release announcing financial results for the second fiscal quarter ended June 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 Number Description
99.1
 Press release of Penumbra, Inc. dated July 30, 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: July 30, 2026By:/s/ Maggie Yuen
  Maggie Yuen
  Chief Financial Officer




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

ALAMEDA, Calif., July 30, 2026 /PRNewswire/ -- Penumbra, Inc. (NYSE: PEN), the world’s leading thrombectomy company, today reported financial results for the second quarter ended June 30, 2026.
•Revenue of $390.0 million in the second quarter of 2026, an increase of 14.9% compared to the second quarter of 2025.
•Global thrombectomy revenue of $259.0 million in the second quarter of 2026, an increase of 12.5% compared to the second quarter of 2025.
•Global embolization and access revenue of $131.1 million in the second quarter of 2026, an increase of 20.0% compared to the second quarter of 2025.
•Gross profit margin of 67.9% in the second quarter of 2026, an increase of 1.9% compared to the second quarter of 2025.
•Total operating expenses of $223.9 million in the second quarter of 2026, comprised of R&D of $25.4 million and SG&A of $198.5 million, which includes $6.9 million of acquisition-related expenses associated with the pending acquisition of Penumbra, Inc. by Boston Scientific Corporation.
•Income from operations of $41.0 million and net income of $34.8 million in the second 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 June 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 statements are based on our current expectations, estimates and assumptions regarding future events and are applicable only as of the




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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.

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Penumbra, Inc.
Condensed Consolidated Balance Sheets
(unaudited)
(in thousands)
June 30, 2026December 31, 2025
Assets
Current assets:
     Cash and cash equivalents$205,271 $186,897 
     Marketable investments453,524 357,919 
     Accounts receivable, net 190,407 190,021 
     Inventories442,650 431,549 
     Prepaid expenses and other current assets52,270 50,298 
          Total current assets1,344,122 1,216,684 
Property and equipment, net146,718 117,436 
Operating lease right-of-use assets167,194 173,587 
Finance lease right-of-use assets24,357 25,972 
Intangible assets, net5,742 6,186 
Goodwill166,523 166,750 
Deferred taxes79,376 79,188 
Other non-current assets40,691 40,716 
         Total assets$1,974,723 $1,826,519 
Liabilities and Stockholders’ Equity
Current liabilities:
     Accounts payable$44,728 $34,736 
     Accrued liabilities172,270 132,163 
  Current operating lease liabilities14,398 13,841 
  Current finance lease liabilities2,380 2,393 
          Total current liabilities233,776 183,133 
Non-current operating lease liabilities176,304 182,751 
Non-current finance lease liabilities19,628 20,714 
Other non-current liabilities14,249 12,318 
          Total liabilities443,957 398,916 
Stockholders’ equity:
Common stock39 39 
Additional paid-in capital1,224,278 1,185,525 
Accumulated other comprehensive income1,363 4,348 
Retained earnings305,086 237,691 
Total stockholders’ equity1,530,766 1,427,603 
Total liabilities and stockholders’ equity$1,974,723 $1,826,519 


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Penumbra, Inc.
Condensed Consolidated Statements of Operations
(unaudited)
(in thousands, except share and per share amounts)
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Revenue$390,046 $339,455 $764,804 $663,595 
Cost of revenue125,102 115,445 246,449 223,702 
Gross profit264,944 224,010 518,355 439,893 
Operating expenses:
Research and development 25,396 23,218 47,778 45,295 
Sales, general and administrative 198,509 159,964 391,304 313,420 
Total operating expenses 223,905 183,182 439,082 358,715 
Income from operations41,039 40,828 79,273 81,178 
Interest and other income, net5,148 4,482 8,602 7,990 
Income before income taxes46,187 45,310 87,875 89,168 
Provision for income taxes11,376 40 20,480 4,675 
Net income$34,811 $45,270 $67,395 $84,493 
Net income per share:
Basic$0.88 $1.17 $1.71 $2.18 
Diluted$0.88 $1.15 $1.70 $2.15 
Weighted average shares outstanding:
Basic39,353,965 38,834,917 39,314,912 38,699,307 
Diluted39,572,059 39,245,953 39,572,347 39,214,027 


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Penumbra, Inc.
Reconciliation of Revenue Growth by Geographic Regions
(unaudited)
(in thousands, except for percentages)
Three Months Ended June 30,Change
20262025$%
United States$305,445 $260,818 $44,627 17.1 %
International84,601 78,637 5,964 7.6 %
Total$390,046 $339,455 $50,591 14.9 %

Six Months Ended June 30,Change
20262025$%
United States$601,832 $517,678 $84,154 16.3 %
International162,972 145,917 17,055 11.7 %
Total$764,804 $663,595 $101,209 15.3 %

Penumbra, Inc.
Reconciliation of Revenue Growth by Product Categories
(unaudited)
(in thousands, except for percentages)
Three Months Ended June 30,Change
 20262025$%
Thrombectomy$258,981 $230,256 $28,725 12.5 %
Embolization and Access131,065 109,199 21,866 20.0 %
Total$390,046 $339,455 $50,591 14.9 %

Six Months Ended June 30,Change
 20262025$%
Thrombectomy$512,898 $456,800 $56,098 12.3 %
Embolization and Access251,906 206,795 45,111 21.8 %
Total$764,804 $663,595 $101,209 15.3 %



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

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