Penumbra Inc. Files Q2 2024 10-Q Financial Report

TL;DR

Penumbra's Q2 2024 10-Q is in: check financials for latest performance update.

AI Summary

Penumbra Inc. filed its 10-Q for the period ending June 30, 2024, reporting on its financial performance. The filing details the company's financial position and results of operations for the second quarter and the first half of 2024, comparing it to the same periods in 2023. Key financial data and segment information are provided, reflecting the company's ongoing business activities in the medical device sector.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for Penumbra Inc., crucial for understanding the company's growth trajectory and operational health in the medical device market.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant new risks disclosed.

Key Numbers

• 2024 Q2 — Reporting Period (Financials for the second quarter of 2024)
• 2024-01-01 to 2024-06-30 — Year-to-Date Period (Financials for the first six months of 2024)
• 2023-01-01 to 2023-06-30 — Prior Year Period (Comparison period for the first six months of 2023)

Key Players & Entities

• Penumbra Inc. (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period
• 20240730 (date) — Date of filing
• Alameda, CA (location) — Company headquarters

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, Par value $0.001 per share PEN The New York Stock Exchan

Filing Documents

• pen-20240630.htm (10-Q) — 1460KB
• pen-63024xexhibit311.htm (EX-31.1) — 10KB
• pen-63024xexhibit312.htm (EX-31.2) — 10KB
• pen-63024xexhibit321.htm (EX-32.1) — 6KB
• 0001321732-24-000087.txt ( ) — 7173KB
• pen-20240630.xsd (EX-101.SCH) — 32KB
• pen-20240630_cal.xml (EX-101.CAL) — 66KB
• pen-20240630_def.xml (EX-101.DEF) — 135KB
• pen-20240630_lab.xml (EX-101.LAB) — 498KB
• pen-20240630_pre.xml (EX-101.PRE) — 351KB
• pen-20240630_htm.xml (XML) — 1334KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (Unaudited) 2 Condensed Consolidated Balance Sheets 2 Condensed Consolidated Statements of Operations 3 Condensed Consolidated Statements of Comprehensive Income (Loss) 4 Condensed Consolidated Statements of Stockholders' Equity 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3. Quantitative and Qualitative Disclosure about Market Risk 34 Item 4.

Controls and Procedures

Controls and Procedures 35

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 36 Item 1A.

Risk Factors

Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36 Item 3. Defaults Upon Senior Securities 36 Item 4. Mine Safety Disclosure 36 Item 5. Other Information 36 Item 6. Exhibits 37

Signatures

Signatures Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS. Penumbra, Inc. Condensed Consolidated Balance Sheets (unaudited) (in thousands) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 288,332 $ 167,486 Marketable investments 51,363 121,701 Accounts receivable, net of allowance for credit losses of $ 3,075 and $ 3,169 at June 30, 2024 and December 31, 2023, respectively 200,831 201,768 Inventories 373,799 388,023 Prepaid expenses and other current assets 29,470 36,424 Total current assets 943,795 915,402 Property and equipment, net 57,709 72,691 Operating lease right-of-use assets 183,316 188,756 Finance lease right-of-use assets 29,366 31,092 Intangible assets, net 6,955 71,056 Goodwill 166,050 166,270 Deferred taxes 108,852 85,158 Other non-current assets 38,518 25,880 Total assets $ 1,534,561 $ 1,556,305 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 32,822 $ 27,155 Accrued liabilities 104,071 110,555 Current operating lease liabilities 11,776 11,203 Current finance lease liabilities 2,325 2,231 Total current liabilities 150,994 151,144 Non-current operating lease liabilities 192,216 197,229 Non-current finance lease liabilities 22,501 23,680 Other non-current liabilities 7,619 5,308 Total liabilities 373,330 377,361 Commitments and contingencies (Note 8) Stockholders' equity: Common stock 39 39 Additional paid-in capital 1,080,580 1,047,198 Accumulated other comprehensive loss ( 5,048 ) ( 3,151 ) Retained earnings 85,660 134,858 Total stockholders' equity 1,161,231 1,178,944 Total liabilities and stockholders' equity $ 1,534,561 $ 1,556,305 See accompanying notes to the unaudited condensed consolidated financial statements 2 Table of Contents Penumbra, Inc. Condensed Consolidated Statements of Operations (unaudited) (in thousands, except share and per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Re

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