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Investing.com -- Penumbra, Inc. (NYSE:PEN), a leading thrombectomy company, reported second quarter earnings that exceeded analyst expectations, driving shares up 7% following the announcement.
The medical device maker posted revenue of $339.5 million for the second quarter of 2025, surpassing the consensus estimate of $327.77 million and representing a 13.4% increase compared to the same period last year. Adjusted earnings per share came in at $0.86, beating analyst expectations of $0.83.
Penumbra’s U.S. thrombectomy business was the standout performer, with revenue jumping 22.6% YoY to $188.5 million. The company’s U.S. venous thromboembolism (VTE) revenue showed particularly strong growth, increasing 42% compared to the second quarter of 2024.
"Our second quarter results demonstrate the continued strength of our thrombectomy portfolio, particularly in the U.S. market," said Adam Elsesser, CEO of Penumbra. "The exceptional growth in our VTE business reflects the increasing adoption of our innovative technologies by physicians treating patients with blood clots."
The company reported income from operations of $40.8 million, representing an operating margin of 12.0%. Net income reached $45.3 million with a net income margin of 13.3%.
Based on the strong performance, Penumbra raised its full-year 2025 revenue guidance to a range of $1.355 billion to $1.37 billion, above the consensus estimate of $1.354 billion. This updated outlook represents growth of 13% to 15% over 2024 revenue. The company maintained its guidance for U.S. thrombectomy growth of 20% to 21% compared to 2024 levels.
International sales declined 3.2% (or 5.8% in constant currency) during the quarter, while U.S. revenue, which accounted for 76.8% of total sales, increased by 19.5%.
Gross profit for the quarter was $224.0 million, or 66.0% of total revenue, compared to 54.4% in the same period last year, with the improvement driven by favorable product mix and productivity enhancements.
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