Penumbra Inc (PEN) Q3 2015 10-Q Quarterly Earnings

Short answer

Penumbra Inc (PEN) filed its Q3 2015 10-Q quarterly report on Nov 12, 2015 for the quarter ended Sep 30, 2015.

AI summary of MD&A and risk factor updates

Revenue $50.4M, up 55.3% YoY from $32.5M
Operating margin 4.3% vs 1.0% YoY; gross margin 66.4% vs 64.1%
Peripheral Vascular strongest segment: $14.1M, up 157.6%; Neuro $36.3M, up 34.5%
Cash $159.1M vs $3.3M at December 31, 2014, following IPO net proceeds of $124.8M
Near-term headwinds: competition, product-transition risks, foreign exchange, quarterly demand variability

No material risk-factor changes from the September 17, 2015 Prospectus
Product liability exposure: potential U.S. claim linked to Penumbra Coil 400, with expected jury damages of $35 million exceeding insurance coverage
Regulatory risk: delayed or denied FDA or foreign approvals could materially impair operations, financial position, and liquidity
Operational risk: reliance on single or limited suppliers for certain components without long-term supply agreements
Financial risk: 32.1% of nine-month revenue generated internationally, primarily denominated in euros and Japanese yen without hedging

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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