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Penumbra, Inc. Reports Strong Growth in 2025 Financial Results

On February 25, 2026, Penumbra, Inc. (NYSE: PEN), recognized globally as a pioneer in thrombectomy technologies, announced its financial results for the fourth quarter and full year ended December 31, 2025. This report showcases notable advancements across various metrics, highlighting both increased revenues and profitability amid ongoing investments in innovative healthcare solutions.

Financial Highlights

In the fourth quarter of 2025, Penumbra achieved total revenue of $385.4 million, reflecting a 22.1% increase compared to the same period in 2024. Adjusting for constant currency, the growth remains significant at 20.9%. For the entire year, revenues surged to $1.4037 billion, up 17.5% or 16.9% in constant currency from the preceding year.

These results demonstrate the company's commitment to enhancing its product offerings in thrombectomy and other related medical fields. Notably, U.S. thrombectomy revenue accounted for $203.1 million in Q4 2025, marking a 12.4% rise, and $771.5 million for the full year, achieving an even more impressive 19.3% growth year-over-year.

Operational Performance

Penumbra's operating income reached $59.2 million in the fourth quarter, translating into an operating margin of 15.4%. Across the entire year, the operating income was reported at $189.2 million, yielding an annual operating margin of 13.5%. The company's focus on optimizing its operations and controlling costs has clearly paid dividends.

In Q4 2025, Penumbra's net income was $47.3 million, with an adjusted EBITDA of $79.1 million, equating to a margin of 20.5%. On a broader scale, the full year net income stood at $177.7 million, propelling the adjusted EBITDA to $266.8 million, further affirming their healthy profit margins of 12.7% and 19.0% respectively.

Revenue Breakdown

Delving deeper into the revenue sources, domestic operations accounted for a staggering 77.6% of total revenue in Q4 2025, while international contributions stood at 22.4%. The overall growth within the U.S. market was robust, up by 20.6%, as international sales expanded by 27.7%, showing substantial demand for Penumbra's innovative solutions across global markets.

The sales of therapeutic devices related to thrombectomy reached $254.7 million, a 15.7% increase from the previous year. Meanwhile, revenue from embolization and access products saw an astonishing rise to $130.7 million, with a growth of 37.0% over last year, highlighting the strong demand for these advanced medical tools.

Product and Market Innovation

Penumbra, Inc. remains focused on pioneering advanced technologies aimed at treating complex medical conditions such as ischemic stroke and venous thromboembolism. Their diverse portfolio includes innovative products such as computer-assisted vacuum thrombectomy (CAVT), aiming to improve patient outcomes significantly. Their dedication to research and development resulted in $21.8 million of expenditures in Q4 2025 alone, illustrating their commitment to further innovation.

Looking Ahead

Despite a promising financial trajectory, the company announced that, due to the pending acquisition by Boston Scientific Corporation (NYSE BSX), they will not provide financial guidance for 2026. This acquisition could reshape their operational capabilities and market approach moving forward.

In conclusion, Penumbra, Inc.'s extraordinary financial performance in 2025 not only underscores their growth in the thrombectomy market but also sets the tone for future opportunities. As they navigate the acquisition landscape, the commitment to innovation and improved patient outcomes continues to drive their vision and operational directives.

For further information on Penumbra, Inc. and their latest product offerings or financial disclosures, visit their official website at www.penumbrainc.com.