Exhibit 99.1
image1.jpg
Penumbra, Inc. Reports Third Quarter 2026 Financial Results

ALAMEDA, Calif., Oct. 29, 2026 /PRNewswire/ -- Penumbra, Inc. (NYSE: PEN), the world’s leading thrombectomy company, today reported financial results for the third quarter ended September 30, 2026.
•Revenue of $410.1 million in the third quarter of 2026, an increase of 15.6% compared to the third quarter of 2025.
•Global thrombectomy revenue of $279.2 million in the third quarter of 2026, an increase of 18.1% compared to the third quarter of 2025. U.S. VTE revenue increased 26.0% compared to the same period a year ago.
•Global embolization and access revenue of $131.0 million in the third quarter of 2026, an increase of 10.8% compared to the third quarter of 2025.
•U.S. neuro revenue of $77.9 million in the third quarter of 2026, an increase of 19.3% compared to the third quarter of 2025.
•Gross profit margin of 68.3% in the third quarter of 2026, an increase of 0.5% compared to the third quarter of 2025.
•Total operating expenses of $229.6 million in the third quarter of 2026, comprised of R&D of $25.4 million and SG&A of $204.2 million, which includes $7.1 million of acquisition-related expenses associated with the pending acquisition of Penumbra, Inc. by Boston Scientific Corporation.
•Income from operations of $50.7 million and net income of $42.3 million in the third quarter of 2026.

Full Year 2026 Financial Outlook and Webcast and Conference Call Information
Given the pending acquisition of Penumbra, Inc. by Boston Scientific Corporation (NYSE: BSX), the Company will not be providing financial guidance for the full year 2026 or hosting a conference call to discuss financial results for the three months ended September 30, 2026.
About Penumbra
Penumbra, Inc., the world’s leading thrombectomy company, is focused on developing the most innovative technologies for challenging medical conditions such as ischemic stroke, venous thromboembolism such as pulmonary embolism, and acute limb ischemia. Our broad portfolio, which includes computer assisted vacuum thrombectomy (CAVT), centers on removing blood clots from head-to-toe with speed, safety and simplicity. By pioneering these innovations, we support healthcare providers, hospitals and clinics in more than 100 countries, working to improve patient outcomes and quality of life. For more information, visit www.penumbrainc.com and connect on Instagram, LinkedIn, and X.

Forward-Looking Statements
Except for historical information, certain statements in this press release are forward-looking in nature and are subject to risks, uncertainties and assumptions about us. Our business and operations are subject to a variety of risks and uncertainties and, consequently, actual results may differ materially from those projected by any forward-looking statements. Factors that could cause actual results to differ from those projected include, but are not limited to: the risk that the pending acquisition by Boston Scientific Corporation will not be completed in the expected timeframe or at all, including the risk that required regulatory approvals will not be obtained; potential adverse effects to our business during the pendency of the acquisition, such as employee departures or diversion of management’s attention from our business; failure to sustain or grow profitability or generate positive cash flows; failure to effectively introduce and market new products; delays in product introductions; significant competition; inability to further penetrate our current customer base, expand our user base and increase the frequency of use of our products by our customers; inability to achieve or maintain satisfactory pricing and margins; manufacturing difficulties; permanent write-downs or write-offs of our inventory or other assets; product defects or failures; unfavorable outcomes in clinical trials; inability to maintain our culture as we grow; fluctuations in foreign currency exchange rates; potential adverse regulatory actions; and the potential impact of any acquisitions, mergers, dispositions, joint ventures or investments we may make. These risks and uncertainties, as well as others, are discussed in greater detail in our filings with the Securities and Exchange Commission ("SEC"), including our Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on February 25, 2026. There may be additional risks of which we are not presently aware or that we currently believe are immaterial which could have an adverse impact on our business. Any forward-looking




1

statements are based on our current expectations, estimates and assumptions regarding future events and are applicable only as of the dates of such statements. We make no commitment to revise or update any forward-looking statements in order to reflect events or circumstances that may change.

2

Penumbra, Inc.
Condensed Consolidated Balance Sheets
(unaudited)
(in thousands)
September 30, 2026December 31, 2025
Assets
Current assets:
     Cash and cash equivalents$254,282 $186,897 
     Marketable investments419,330 357,919 
     Accounts receivable, net 195,216 190,021 
     Inventories459,132 431,549 
     Prepaid expenses and other current assets48,671 50,298 
          Total current assets1,376,631 1,216,684 
Property and equipment, net156,443 117,436 
Operating lease right-of-use assets164,346 173,587 
Finance lease right-of-use assets23,510 25,972 
Intangible assets, net5,549 6,186 
Goodwill166,479 166,750 
Deferred taxes79,221 79,188 
Other non-current assets52,924 40,716 
         Total assets$2,025,103 $1,826,519 
Liabilities and Stockholders’ Equity
Current liabilities:
     Accounts payable$41,961 $34,736 
     Accrued liabilities174,767 132,163 
  Current operating lease liabilities14,706 13,841 
  Current finance lease liabilities2,376 2,393 
          Total current liabilities233,810 183,133 
Non-current operating lease liabilities173,277 182,751 
Non-current finance lease liabilities19,031 20,714 
Other non-current liabilities15,476 12,318 
          Total liabilities441,594 398,916 
Stockholders’ equity:
Common stock39 39 
Additional paid-in capital1,236,068 1,185,525 
Accumulated other comprehensive income37 4,348 
Retained earnings347,365 237,691 
Total stockholders’ equity1,583,509 1,427,603 
Total liabilities and stockholders’ equity$2,025,103 $1,826,519 


3

Penumbra, Inc.
Condensed Consolidated Statements of Operations
(unaudited)
(in thousands, except share and per share amounts)
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Revenue$410,145 $354,685 $1,174,949 $1,018,280 
Cost of revenue129,842 114,269 376,291 337,971 
Gross profit280,303 240,416 798,658 680,309 
Operating expenses:
Research and development 25,361 22,677 73,139 67,972 
Sales, general and administrative 204,203 168,901 595,507 482,321 
Total operating expenses 229,564 191,578 668,646 550,293 
Income from operations50,739 48,838 130,012 130,016 
Interest and other income, net5,577 3,487 14,179 11,477 
Income before income taxes56,316 52,325 144,191 141,493 
Provision for income taxes14,037 6,474 34,517 11,149 
Net income$42,279 $45,851 $109,674 $130,344 
Net income per share:
Basic$1.07 $1.17 $2.79 $3.36 
Diluted$1.07 $1.17 $2.77 $3.32 
Weighted average shares outstanding:
Basic39,402,195 39,078,378 39,344,326 38,827,038 
Diluted39,620,298 39,302,239 39,598,030 39,250,680 


4

Penumbra, Inc.
Reconciliation of Revenue Growth by Geographic Regions
(unaudited)
(in thousands, except for percentages)
Three Months Ended September 30,Change
20262025$%
United States$324,248 $275,029 $49,219 17.9 %
International85,897 79,656 6,241 7.8 %
Total$410,145 $354,685 $55,460 15.6 %

Nine Months Ended September 30,Change
20262025$%
United States$926,080 $792,707 $133,373 16.8 %
International248,869 225,573 23,296 10.3 %
Total$1,174,949 $1,018,280 $156,669 15.4 %

Penumbra, Inc.
Reconciliation of Revenue Growth by Product Categories
(unaudited)
(in thousands, except for percentages)
Three Months Ended September 30,Change
20262025$%
Thrombectomy$279,157 $236,422 $42,735 18.1 %
Embolization and Access130,988 118,263 12,725 10.8 %
Total$410,145 $354,685 $55,460 15.6 %

Nine Months Ended September 30,Change
20262025$%
Thrombectomy$792,055 $693,222 $98,833 14.3 %
Embolization and Access382,894 325,058 57,836 17.8 %
Total$1,174,949 $1,018,280 $156,669 15.4 %



Investor Relations
Penumbra, Inc.
investors@penumbrainc.com
Source: Penumbra, Inc.

5