Penumbra Inc
penumbrainc.comWhat Do They Do?
Makes medical devices that remove blood clots and treat aneurysms and other vessel conditions for specialist physicians and healthcare providers.
10-K for FY2025, filed Feb 25, 2026Penumbra, the world’s leading thrombectomy company, is focused on developing the most innovative technologies for challenging medical…View ↗
The embolization and access markets are comprised of various diseases and conditions throughout the body, such as aneurysm, hemorrhagic…View ↗
The Indigo System is designed for continuous or modulated power aspiration of thrombus in the body, leveraging the success of the Penumbra…View ↗
How Do They Make Money?
Healthcare providers and distributors buy medical devices, generally paying around shipment or receipt; hospitals pay for consigned coils when used. A China partner pays fixed amounts for licensed technology and related regulatory support, plus royalties on some product sales.
10-K for FY2025, filed Feb 25, 2026The Company derives revenue by selling our medical devices to healthcare providers, direct sales organizations, and distributors. The…View ↗
Delivery of products - The Company’s contracts with customers, other than the China licensing arrangements described below, typically…View ↗
Payment terms - The Company’s payment terms vary by the type and location of our customer. The timing between fulfillment of performance…View ↗
We license the technology to certain of our products to our existing distribution partner in China pursuant to a series of licensing…View ↗
-
10-K for FY2025, filed Feb 25, 2026
FY2025 revenue by product or service ↗
$1.4B
-
10-K for FY2025, filed Feb 25, 2026
$1.4B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Thrombectomy
Sold outright
10-K for FY2025, filed Feb 25, 2026 |
68%
FY2022: 60%
|
Thrombectomy, FY2025
$947.9M Sources
|
Sold outright |
|
Embolization and Other
Sold outright
10-K for FY2025, filed Feb 25, 2026 |
32%
FY2022: 40%
|
Embolization and Other, FY2025
$455.7M Sources
|
Sold outright |
Who Are Their Customers?
Sells directly to healthcare providers in the United States, most of Europe, Canada, Australia and Singapore; distributors serve select international markets. Specialist physicians use the devices and influence purchasing decisions at hospitals and other healthcare settings.
10-K for FY2025, filed Feb 25, 2026We sell our products directly in the United States, most of Europe, Canada, Australia and Singapore, subject to required regulatory…View ↗
We currently sell our products in the United States through our dedicated salesforce. Our sales representatives and sales managers…View ↗
In addition to our direct sales organizations, we work with distributors in certain geographic areas where we have determined that selling…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 13 cents of every revenue dollar as net income in FY2025 and turned 12 cents into free cash flow.
10-K for FY2025, filed Feb 25, 2026
$189.2MView ↗
10-K for FY2025, filed Feb 25, 2026
$177.7MView ↗
10-K for FY2025, filed Feb 25, 2026
$174.9MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Jul 30, 2026
$34.8MView ↗
- ▼ −23%
- vs $45.3M in Q2 FY2025
10-Q for Q2 FY2026, filed Jul 30, 2026
Open tableView ↗
Growing. Revenue grew 88% in 4 years, from $747.6M in FY2021 to $1.4B in FY2025, about 17% a year.
Exit from immersive healthcare
Earlier portfolio plans included immersive healthcare technologies; the latest report says it ended sales and commercial operations for that business, while listing thrombectomy, embolization and access technologies in its portfolio.
10-K for FY2022, filed Feb 23, 2023 10-K for FY2025, filed Feb 25, 2026We expect to continue to develop and build our portfolio of products, including our thrombectomy, embolization, access and immersive…View ↗
Who Do They Compete With?
Competes with Boston Scientific, Medtronic, Stryker, Inari Medical, and Terumo
10-K for FY2025, filed Feb 25, 2026The medical device industry is intensely competitive, subject to rapid change and significantly affected by new product introductions and…View ↗
Loading...
