Penumbra Reports Q3 2026 Results with Revenue Up 15.6% Amid Pending Boston Scientific Acquisition

Executive Summary

On October 29, 2026, Penumbra, Inc. (NYSE: PEN) filed a Current Report on Form 8-K under Item 2.02 (Results of Operations and Financial Condition), furnishing its financial results for the third quarter ended September 30, 2026 (Exhibit 99.1).

Key Financial Highlights

• Revenue: Total revenue reached $410.1 million in Q3 2026, representing a 15.6% increase compared to $354.7 million in Q3 2025. Nine-month revenue totaled $1,174.9 million, up 15.4% from $1,018.3 million in the prior-year period.
• Product Line Performance:
  • Global Thrombectomy: $279.2 million (+18.1% YoY), driven by strong U.S. VTE revenue growth of 26.0% YoY.
  • Global Embolization and Access: $131.0 million (+10.8% YoY).
  • U.S. Neuro: $77.9 million (+19.3% YoY).
• Gross Margin: Gross profit margin rose to 68.3% ($280.3 million) from 67.8% ($240.4 million) in Q3 2025.
• Operating Expenses: Totaled $229.6 million, consisting of $25.4 million in R&D and $204.2 million in SG&A. SG&A included $7.1 million of transaction-related expenses tied to the pending acquisition by Boston Scientific Corporation.
• Profitability: Generated $50.7 million in operating income and $42.3 million in net income for Q3 2026.
• Balance Sheet & Liquidity: Cash and cash equivalents stood at $254.3 million and marketable investments totaled $419.3 million as of September 30, 2026, bringing total liquid assets to $673.6 million.

Corporate Strategy & M&A Note

Penumbra did not provide updated full-year 2026 financial guidance nor host an earnings conference call in light of its pending acquisition by Boston Scientific Corporation (NYSE: BSX).