PEN FY 2025 Earnings Report — Penumbra, Inc. Revenue & Financial Results | Market Cap Arena

Penumbra, Inc.PEN

FY 2025 Earnings

Reported February 25, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$1.4B	—	$1.2B	—	17.5%
Op. Income	$189M	—	$9M	—	1939.5%
Gross Margin	67.1%	—	63.2%	—	3.9pp
Net Margin	12.7%	—	1.2%	—	11.5pp
EPS (Diluted)	$4.52	—	$0.36	—	1155.6%
Free Cash Flow	$175M	—	$147M	—	18.8%

Revenue Flow

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$461M
GROSS PROFIT	$942M
R&D Expenses	$90M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$663M
Other Expenses	$0
Operating Expenses	$753M
Cost & Expenses	$1.2B
OPERATING INCOME	$189M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$16M
INCOME BEFORE TAX	$205M
Income Tax Expense	$27M
Net Income from Continuing Ops	$178M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$178M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$178M
D&A	$17M
EBIT	$205M
EBITDA	$223M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$461M
GROSS PROFIT	$942M
R&D Expenses	$90M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$663M
Other Expenses	$0
Operating Expenses	$753M
Cost & Expenses	$1.2B
OPERATING INCOME	$189M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$16M
INCOME BEFORE TAX	$205M
Income Tax Expense	$27M
Net Income from Continuing Ops	$178M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$178M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$178M
D&A	$17M
EBIT	$205M
EBITDA	$223M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$178M
Depreciation & Amortization	$17M
Stock-Based Compensation	$59M
Deferred Income Tax	$21M
Other Non-Cash Items	$6M
Change in Working Capital	-$43M
OPERATING CASH FLOW	$239M
Capital Expenditure	-$64M
Acquisitions (Net)	$0
Purchases of Investments	-$356M
Sales/Maturities of Investments	$15M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$405M
Net Debt Issuance	-$2M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$3M
NET CASH FROM FINANCING	$27M
FREE CASH FLOW	$175M
Net Change in Cash	-$138M

Balance Sheet

Item	Amount
Cash & Equivalents	$187M
Short-Term Investments	$0
Net Receivables	$190M
Inventory	$432M
Other Current Assets	$408M
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$317M
Goodwill	$167M
Intangible Assets	$6M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$120M
TOTAL NON-CURRENT ASSETS	$610M
TOTAL ASSETS	$1.8B
Account Payables	$35M
Short-Term Debt	$16M
Deferred Revenue	$0
Other Current Liabilities	$132M
TOTAL CURRENT LIABILITIES	$183M
Long-Term Debt	$203M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$12M
TOTAL NON-CURRENT LIABILITIES	$216M
TOTAL LIABILITIES	$399M
Common Stock	$39.0K
Additional Paid-In Capital	$0
Retained Earnings	$238M
Treasury Stock	$0
Accum. Other Comp. Income	$4M
Other Equity	$1.2B
TOTAL STOCKHOLDERS' EQUITY	$1.4B
Minority Interest	$0
TOTAL EQUITY	$1.4B
TOTAL LIABILITIES & EQUITY	$1.8B
Total Debt	$220M
Net Debt	$33M