Penumbra, Inc.: Will Its Market Penetration & Access Initiatives Help Capture The Thrombectomy Market?

Penumbra’s fourth-quarter and full-year 2024 earnings reveal a company that continues to prioritize its thrombectomy business, showcasing impressive growth figures in the U.S. market while dealing with challenges in international operations. The company’s non-GAAP revenue for Q4 2024 was $321.3 million, reflecting a 12.9% year-over-year increase on an adjusted basis, excluding the Italian payback adjustment. When looking at the full year, Penumbra’s revenue reached over $1.2 billion, signifying a 13.4% increase compared to 2023. The U.S. thrombectomy business was a significant driver of this growth, with a revenue increase of 26.8% to $646.7 million for the year.