Form 8-K

8-K — Penumbra Inc

Accession: 0001321732-26-000018

Filed: 2026-05-06

Period: 2026-05-06

CIK: 0001321732

SIC: 3841 (SURGICAL & MEDICAL INSTRUMENTS & APPARATUS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — pen-20260506.htm (Primary)

EX-99.1 (pen-33126xexhibit991.htm)

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8-K

8-K (Primary)

Filename: pen-20260506.htm · Sequence: 1

pen-20260506

0001321732FALSE00013217322026-05-062026-05-06

__________________________________________________________________________________________________________________________

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_______________________________________________________________________________________________________________________________

FORM 8-K

_______________________________________________________________________________________________________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

May 6, 2026

Date of Report (Date of earliest event reported)

_______________________________________________________________________________________________________________________________

Penumbra, Inc.

(Exact name of registrant as specified in its charter)

_______________________________________________________________________________________________________________________________

Delaware 001-37557 05-0605598

(State or other jurisdiction of incorporation or organization) (Commission File No.) (I.R.S. employer identification number)

One Penumbra Place

Alameda, CA 94502

(Address of principal executive offices, including zip code)

(510) 748-3200

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol Name of each exchange on which registered

Common Stock, Par value $0.001 per share PEN The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

_______________________________________________________________________________________________________________________________

Item 2.02. Results of Operations and Financial Condition.

On May 6, 2026, Penumbra, Inc. issued a press release announcing financial results for the first fiscal quarter ended March 31, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information furnished on this Current Report on Form 8-K, including the attached exhibit, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such a filing, except as expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number Description

99.1

Press release of Penumbra, Inc. dated May 6, 2026.

104 Cover Page Interactive Data File (formatted as Inline Extensible Business Reporting Language).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Penumbra, Inc.

Date: May 6, 2026 By: /s/ Maggie Yuen

Maggie Yuen

Chief Financial Officer

EX-99.1

Filename: pen-33126xexhibit991.htm · Sequence: 2

Document

Exhibit 99.1

Penumbra, Inc. Reports First Quarter 2026 Financial Results

ALAMEDA, Calif., May 6, 2026 /PRNewswire/ -- Penumbra, Inc. (NYSE: PEN), the world’s leading thrombectomy company, today reported financial results for the first quarter ended March 31, 2026.

•Revenue of $374.8 million in the first quarter of 2026, an increase of 15.6% compared to the first quarter of 2025.

•Global thrombectomy revenue of $253.9 million in the first quarter of 2026, an increase of 12.1% compared to the first quarter of 2025.

•Global embolization and access revenue of $120.8 million in the first quarter of 2026, an increase of 23.8% compared to the first quarter of 2025.

•Gross profit margin of 67.6% in the first quarter of 2026, an increase of 1.0% compared to the first quarter of 2025.

•Total operating expenses of $215.2 million in the first quarter of 2026, comprised of R&D of $22.4 million and SG&A of $192.8 million, which includes $9.4 million of acquisition-related expenses associated with the pending acquisition of Penumbra, Inc. by Boston Scientific Corporation.

•Income from operations of $38.2 million and net income of $32.6 million in the first 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 March 31, 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 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.

Penumbra, Inc.

Condensed Consolidated Balance Sheets

(unaudited)

(in thousands)

March 31, 2026 December 31, 2025

Assets

Current assets:

Cash and cash equivalents $ 241,289 $ 186,897

Marketable investments 374,371 357,919

Accounts receivable, net 183,295 190,021

Inventories 438,539 431,549

Prepaid expenses and other current assets 37,912 50,298

Total current assets 1,275,406 1,216,684

Property and equipment, net 134,059 117,436

Operating lease right-of-use assets 170,273 173,587

Finance lease right-of-use assets 25,209 25,972

Intangible assets, net 5,946 6,186

Goodwill 166,589 166,750

Deferred taxes 79,972 79,188

Other non-current assets 40,984 40,716

Total assets $ 1,898,438 $ 1,826,519

Liabilities and Stockholders’ Equity

Current liabilities:

Accounts payable $ 43,658 $ 34,736

Accrued liabilities 151,543 132,163

Current operating lease liabilities 14,144 13,841

Current finance lease liabilities 2,386 2,393

Total current liabilities 211,731 183,133

Non-current operating lease liabilities 179,424 182,751

Non-current finance lease liabilities 20,221 20,714

Other non-current liabilities 13,250 12,318

Total liabilities 424,626 398,916

Stockholders’ equity:

Common stock 39 39

Additional paid-in capital 1,201,423 1,185,525

Accumulated other comprehensive income 2,075 4,348

Retained earnings 270,275 237,691

Total stockholders’ equity 1,473,812 1,427,603

Total liabilities and stockholders’ equity $ 1,898,438 $ 1,826,519

Penumbra, Inc.

Condensed Consolidated Statements of Operations

(unaudited)

(in thousands, except share and per share amounts)

Three Months Ended March 31,

2026 2025

Revenue $ 374,758 $ 324,140

Cost of revenue 121,347 108,257

Gross profit 253,411 215,883

Operating expenses:

Research and development 22,382 22,077

Sales, general and administrative 192,795 153,456

Total operating expenses 215,177 175,533

Income from operations 38,234 40,350

Interest and other income, net 3,454 3,508

Income before income taxes 41,688 43,858

Provision for income taxes 9,104 4,635

Net income $ 32,584 $ 39,223

Net income per share:

Basic $ 0.83 $ 1.02

Diluted $ 0.82 $ 1.00

Weighted average shares outstanding:

Basic 39,275,424 38,562,191

Diluted 39,543,780 39,163,428

Penumbra, Inc.

Reconciliation of Revenue Growth by Geographic Regions

(unaudited)

(in thousands, except for percentages)

Three Months Ended March 31, Change

2026 2025 $ %

United States $ 296,387 $ 256,860 $ 39,527 15.4 %

International 78,371 67,280 11,091 16.5 %

Total $ 374,758 $ 324,140 $ 50,618 15.6 %

Penumbra, Inc.

Reconciliation of Revenue Growth by Product Categories

(unaudited)

(in thousands, except for percentages)

Three Months Ended March 31, Change

2026 2025 $ %

Thrombectomy $ 253,917 $ 226,544 $ 27,373 12.1 %

Embolization and Access 120,841 97,596 23,245 23.8 %

Total $ 374,758 $ 324,140 $ 50,618 15.6 %

Investor Relations

Penumbra, Inc.

investors@penumbrainc.com

Source: Penumbra, Inc.

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