Penumbra, Inc. (PEN) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

today's call to discuss Penumbra's earnings release for the third quarter of 2025. A copy of the press release and financial tables, which includes a gap to non-gap reconciliation, With me on today's call are Adam Elsesser, Chairman and CEO, Shruti Narayan, President, and Maggie Yuen, Chief Financial Officer. Also joining us for the Q&A portion of the call is Jason Mills, EVP, Strategy. During the course of this conference call, the company will make forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding our financial performance, commercialization, clinical trials, regulatory status, quality, compliance, and business trends. Actual results could differ materially from those stated or implied by our forward-looking statements due to certain risks and uncertainties, including those referenced in our 10-K for the year ended December 31, 2024, filed with the SEC. As a result, we caution you against placing undue reliance on these forward-looking statements, and we encourage you to review our periodic filings with the SEC, including the 10-K previously mentioned, for a more complete discussion of these factors and other risks that may affect our future results or the market price of our stock. Penumbra disclaims any duty to update or revise our forward-looking statements as a result of new information, future events, developments, or otherwise. On this call, financial results for revenue and gross margin are presented on a gap basis, while operating expenses, operating income, and adjusted EBITDA are presented on a non-gap basis. The corresponding gap measures and a reconciliation of gap to non-gap financial measures are provided in our posted press release. Non-GAAP operat...