NYSE$PEN
Penumbra Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Penumbra reported first quarter results with revenue increase and strong thrombectomy growth.
Penumbra, Inc. reported a 15.4% increase in revenue to $278.7 million for Q1 2024, driven by a 35.2% increase in U.S. thrombectomy revenue. The company's adjusted EBITDA was $37.6 million with a margin of 13.5%.
- Revenue increased by 15.4% to $278.7 million in Q1 2024.
- U.S. thrombectomy revenue grew by 35.2% in Q1 2024.
- Non-GAAP income from operations was $19.3 million in Q1 2024.
- Adjusted EBITDA reached $37.6 million with a 13.5% margin in Q1 2024.
Headline financials
Revenue & EPS history
Penumbra · Revenue · Quarterly
$279M
Revenue by segment
Penumbra · $271M total across 2 segments · Q3 2023
- Thrombectomy$179M—66.1%
- Embolization and Access$91.9M—33.9%
Forward guidance
Penumbra reiterates its full year 2024 revenue guidance to be in the range of $1,230.0 million to $1,270.0 million, representing year over year growth of 16% to 20%. The company also continues to project the U.S. thrombectomy franchise will grow 27% to 30% year-over-year.
Tailwinds
- Total revenue for 2024 expected to be between $1,230.0 million and $1,270.0 million.
- U.S. thrombectomy franchise projected to grow 27% to 30% year-over-year.
- Gross margin expansion expected in the range of 100 to 150 basis points in 2024.
- Total non-GAAP operating margin expansion projected in the range of 100 to 200 basis points in 2024.
- Strong growth trends in the first quarter reinforce total revenue and U.S. thrombectomy revenue guidance ranges.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+2.0%
Avg return
Earnings day
+1.3%
Avg return
5 days after
+1.9%
Avg return
30 days after
57%
28 / 49 earnings
Positive
+23.4%
Q4 2014
Best reaction
-15.8%
Q2 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.1% | -0.7% | -1.1% | |
| Q4 2025 | +0.9% | +0.4% | -1.1% | |
| Q3 2025 | +17.1% | +24.0% | +33.3% | |
| Q1 2025 | +7.0% | +6.5% | -3.7% | |
| Q4 2024 | +12.0% | +6.1% | +3.4% | |
| Q3 2024 | +9.2% | +9.5% | +16.5% | |
| Q2 2024 | -6.3% | -1.6% | +13.5% | |
| Q1 2024 | -4.0% | +0.3% | -7.2% | |
| Q4 2023 | -7.7% | -10.1% | -13.0% | |
| Q3 2023 | +2.0% | +1.3% | +17.4% | |
| Q2 2023 | -11.2% | -16.8% | -12.8% | |
| Q1 2023 | +5.5% | +8.6% | +10.1% | |
| Q4 2022 | +2.3% | -0.5% | +5.1% | |
| Q3 2022 | +3.0% | +12.0% | +34.0% | |
| Q2 2022 | +13.7% | +8.7% | +12.5% | |
| Q1 2022 | -3.6% | -15.3% | -17.6% | |
| Q4 2021 | -3.4% | +5.6% | -2.6% | |
| Q3 2021 | +3.0% | -1.8% | -14.8% | |
| Q2 2021 | -2.1% | -2.4% | +3.0% | |
| Q1 2021 | -8.3% | -8.9% | -13.9% | |
| Q4 2020 | +3.2% | +1.6% | -3.4% | |
| Q3 2020 | +10.6% | +3.9% | -5.1% | |
| Q2 2020 | +2.5% | +5.5% | -3.5% | |
| Q1 2020 | +1.4% | +2.4% | +1.4% | |
| Q4 2019 | -6.8% | -10.0% | -13.7% | |
| Q3 2019 | -0.8% | +0.6% | +1.0% | |
| Q2 2019 | -6.9% | -6.5% | -15.1% | |
| Q1 2019 | +3.0% | -0.2% | +17.8% | |
| Q4 2018 | -11.2% | -5.7% | -1.1% | |
| Q3 2018 | +7.2% | +9.0% | +1.1% | |
| Q2 2018 | -15.8% | -16.0% | -3.8% | |
| Q1 2018 | +9.5% | +10.2% | +15.7% | |
| Q4 2017 | +3.9% | +8.4% | +11.0% | |
| Q3 2017 | +9.3% | +2.3% | -3.3% | |
| Q2 2017 | +5.8% | +4.1% | +4.4% | |
| Q1 2017 | +4.3% | -2.3% | +1.0% | |
| Q4 2016 | +3.8% | +5.2% | +7.8% | |
| Q3 2016 | -2.5% | +2.4% | -4.2% | |
| Q2 2016 | +10.9% | +10.8% | +6.6% | |
| Q1 2016 | -1.7% | — | — | |
| Q1 2015 | -1.7% | — | — | |
| Q2 2014 | -6.3% | — | — | |
| Q4 2015 | -6.3% | — | — | |
| Q4 2013 | -6.3% | — | — | |
| Q2 2015 | -6.3% | — | — | |
| Q1 2014 | -6.3% | — | — | |
| Q3 2014 | +23.4% | — | — | |
| Q3 2015 | +23.4% | — | — | |
| Q4 2014 | +23.4% | — | — |
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