10-Q quarterly report · filed Aug 6, 2019

Penumbra Inc (PEN) Q2 2019 10-Q Quarterly Report

Short answer

Penumbra Inc (PEN) filed its Q2 2019 10-Q quarterly report on Aug 6, 2019 for the quarter ended Jun 30, 2019.

Penumbra Inc Q2 2019 10-Q analysis

AI summary of MD&A and risk factor updates

Management Discussion & Analysis

  • Q2 revenue $134.2M, up 22.4% YoY from $109.6M
  • Gross margin 70.0% vs 65.9%; operating margin 9.5% vs 8.5% YoY
  • Best segment: Vascular revenue $52.7M, up 48.6%; weakest growth: Neuro revenue $81.5M, up 9.9%
  • Cash $77.3M vs $67.9M; marketable investments $110.0M vs $133.0M
  • Six-month operating cash flow $(0.2)M vs $10.8M; planned investments in products, manufacturing and international expansion, with quarterly variability expected

Risk Factors

  • No material changes or new risk factors identified since the December 31, 2018 Form 10-K
  • Regulatory risk: product approvals or clearances may be delayed or unavailable
  • Competitive risk: large, well-capitalized competitors pressure physician adoption
  • Operational risk: new-product launches require inventory buildup and salesforce expansion
  • Currency risk: 35.7% of six-month revenue generated internationally without hedging

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

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