Penumbra (NYSE:PEN), a global leader in thrombectomy technology, reported a surge in fourth-quarter revenue that exceeded its own raised forecasts, capping a year that will culminate in the company’s acquisition by Boston Scientific Corp. (NYSE:BSX).
For the fourth quarter ended Dec. 31, 2025, Penumbra estimated revenue between $383 million and $384.8 million, representing year-over-year growth of approximately 21.4% to 22%.
Excluding the impact of the China region, where the company has faced persistent headwinds, revenue growth for the quarter reached a robust 23.2% to 23.8%.
The preliminary results highlight the accelerating adoption of Penumbra’s Computer-Assisted Vacuum Thrombectomy (CAVT) portfolio, particularly in the U.S. market.
For the full year 2025, total revenue is expected to land between $1,401.3 million and $1,403.1 million, a 17.5% increase over 2024 and well above the company's prior guidance range of $1.375 billion to $1.380 billion.
Profitability metrics also showed marked improvement.
Penumbra reported a preliminary fourth-quarter gross margin of 67.9% to 68.1%, while its operating margin expanded to as high as 15.7%.
For the full year, operating income is projected to reach up to $190.4 million, reflecting the company’s success in scaling its manufacturing and leveraging its specialized sales force.
The financial update arrived on the same day Boston Scientific announced a definitive agreement to acquire Penumbra in an all-cash and stock deal valued at approximately $14.5 billion.
The transaction, which values Penumbra at a significant premium to its recent trading price, is expected to close in the first half of 2026.