Description

Penumbra Goes All-In On Thrombectomy — Can STORM-PE Reshape Adoption?

Penumbra Inc. reported third-quarter 2025 revenue of $354.7 million, representing a 17.8% increase year-over-year on a reported basis and 16.9% growth on a constant currency basis. The company’s performance was supported by broad-based execution across its business segments and geographic regions. U.S. revenue reached $275 million, up 21.5%, driven by core franchises such as thrombectomy and peripheral embolization. The U.S. thrombectomy sales grew 18.5% year-over-year to $192 million, while the venous thromboembolism (VTE) franchise led with 34% growth. The peripheral embolization and access segment saw a 29.2% increase to $83 million, aided by the dedicated embolization sales team and new product introductions, including the Ruby XL coil. International revenue reached $79.7 million, marking a 6.6% rise that offset challenges associated with a China market slowdown; excluding China, other international markets grew at a double-digit pace. Gross margin expanded 130 basis points to 67.