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Benzinga
Benzinga
Business
Vandana Singh

FOUND: Penumbra posts mixed bag q4 results reports topline growth of 22 - You Need To See This

PEN Penumbra NYSE
  • Penumbra Inc (NYSE:PEN) posted Q4 FY21 revenue of $204 million, +22.2% Y/Y (up 23% in constant currency), beating the consensus of $194.30 million.
  • Revenue from sales of vascular products grew 30.4% (31.1%) to $113.6 million. 
  • Revenue from sales of neuro products grew 13.3% (14.1%) to $90.4 million.
  • The gross margin was 61.5%, impacted by higher labor and logistics costs due to inflation. This compares to the gross profit margin of 56.5% in Q4 FY20.
  • The Company reported a Q4 operating loss of $(40.9) million wider than $(1.7) million posted a year ago.
  • The Company reported an EPS loss of $(0.66), a turnaround from a profit of $0.10.
  • “In the fourth quarter, we achieved record revenue in both our neuro and vascular businesses. Also, we started making progress toward our goal of building a safe and secure healthcare platform using immersive computing to help a significant number of patients,” CEO Adam Elsesser said during an earnings call.
  • Guidance: Penumbra expects FY22 sales of $860 million - $875 million, representing 15% - 18% growth over 2021, compared to the consensus of $862.41 million.
  • Price Action: PEN shares are down 2.12% at $212 during the market session on the last check Wednesday.
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