Penumbra Surges 11.9% on Q2 Earnings Beat and Margin Expansion as $300M Volume Pushes It to 407th Trading Rank

On July 30, 2025, Penumbra (PEN) surged 11.91% with a trading volume of $0.30 billion, a 92.23% increase from the prior day, ranking 407th in market activity. The stock’s rally followed robust Q2 2025 earnings, where GAAP revenue rose 13.4% to $339.5 million, exceeding estimates by $11.7 million. Non-GAAP earnings per share reached $0.86, driven by double-digit U.S. thrombectomy growth and a 11.6-point gross margin expansion to 66.0%. Management raised full-year revenue guidance to $1.355–$1.370 billion, reflecting confidence in core U.S. market momentum.

Penumbra’s U.S. thrombectomy segment, contributing 76.8% of total sales, grew 19.5% year-over-year, with global thrombectomy revenue hitting $230.3 million, up 13.1%. The U.S. Venous ThromboEmbolism (VTE) line saw 42% annual growth, underscoring product adoption. Margins improved due to a one-time $33.4 million impairment charge in Q2 2024 and a favorable product mix. Operating income swung to $40.8 million from a $81.0 million loss in the prior-year period, while adjusted EBITDA surged 372.3% to $61.4 million.

Strategic shifts, including exiting the immersive healthcare business, reduced operating expenses and boosted profitability. The company prioritized R&D in core thrombectomy and embolization platforms like Lightning Flash and Ruby XL, while maintaining pricing discipline to outpace competitors. A new Costa Rica manufacturing facility aims to enhance supply chain resilience. With $421.8 million in cash and no debt, Penumbra positioned itself for sustained margin expansion amid international headwinds, particularly in China.

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