Equity Profile

PEN

Penumbra, Inc.

Health CareHealth Care Equipment$12.5B

Jul28Tue

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Penumbra, Inc. is a healthcare company that develops innovative medical devices for neuro and vascular conditions....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely watch.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its market share and increase sales, which is vital for long-term success.

N/A

Wall Street expectations, options signals, track record, and call prep available with Pro.

PEN Q2-2026 Earnings Preview

Context

Company Snapshot

Penumbra, Inc. is a healthcare company that develops innovative medical devices for neuro and vascular conditions. With a market cap of $13 billion, it plays a crucial role in the health care equipment sector, focusing on improving patient outcomes through advanced technology.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+7.72%

Avg Stock Reaction

-0.78%

Last Quarter Recap

In Q1 2026, Penumbra reported an EPS of $0.82, falling short of the expected $1.11, resulting in a 25.93% surprise. The stock saw a slight increase of 0.10% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations are mixed as analysts await clarity on Penumbra's revenue and profitability following the recent earnings miss. Investors are particularly focused on whether the company can rebound from its previous performance.

Bull Case

If Penumbra can demonstrate strong revenue growth and improved profitability, it could regain investor confidence and drive the stock higher.

Bear Case

Conversely, if the company continues to miss earnings expectations or fails to provide a clear growth strategy, it may lead to further declines in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for Q2-2026?

Given the significant miss last quarter, the market will closely scrutinize EPS to assess the company's recovery and profitability.

What is the revenue growth outlook for the upcoming quarters?

Investors need to understand the company's growth trajectory, especially after recent performance, to gauge future potential.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be overly cautious following the last earnings miss, failing to recognize Penumbra's potential for recovery and growth in the medical device sector.

Supporting Evidence

The options market is pricing a 19.6% move, indicating significant uncertainty that may not reflect the company's underlying strength.

Penumbra has a strong history of beating EPS estimates, with an 88% success rate in the last eight quarters.

Key Risk

If the EPS exceeds $1.00, it could shift market sentiment significantly.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Penumbra can regain its footing after a disappointing earnings report, making these thresholds critical.

Bull Confirmed If

An EPS of $1.00 or higher would confirm a strong recovery and growth outlook.

Bear Confirmed If

An EPS below $0.70 would indicate ongoing challenges and could lead to further declines.

Pre-Earnings Positioning

Options Market

Implied Move

±19.6%

Historical Avg

±1.4%

Pricing rich

The options market is pricing in a significant move of nearly 20%, indicating uncertainty around the upcoming earnings report.

Options are pricing ±19.6% while PEN has averaged ±1.4% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

11.1%

Calls (2K)P/C Ratio: 2.52Puts (32K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing rich in Health Care

n=30

Fade rate: 13 of 29 (45%)

This setup has occurred 30 times across Health Care in the last 2 years. 13 of 29 faded and 16 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 3.6%, with a raw directional average of -1.3% (modestly negative historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Penumbra beats expectations and raises guidance, history suggests the stock could see a positive reaction, potentially around +0.10%.

In-Line / Cautious

If the results are in line with expectations but lack strong guidance, the stock may remain stable or see slight fluctuations.

Miss

Should the company miss earnings expectations again, history indicates a potential decline, with an average move of -0.10%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new product launches and their expected impact on revenue.
2Management's commentary on market conditions and competitive landscape.
3Insights into operational efficiencies and cost management strategies.
4Details on customer feedback and adoption rates for existing products.
5Any guidance on future earnings and revenue expectations.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Penumbra, Inc. is a healthcare company that develops innovative medical devices for neuro and vascular conditions....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely watch.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its market share and increase sales, which is vital for long-term success.

N/A

Wall Street expectations, options signals, track record, and call prep available with Pro.

PEN Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+7.72%

Avg Stock Reaction

-0.78%

Last Quarter Recap

In Q1 2026, Penumbra reported an EPS of $0.82, falling short of the expected $1.11, resulting in a 25.93% surprise. The stock saw a slight increase of 0.10% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If Penumbra can demonstrate strong revenue growth and improved profitability, it could regain investor confidence and drive the stock higher.

Bear Case

Conversely, if the company continues to miss earnings expectations or fails to provide a clear growth strategy, it may lead to further declines in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for Q2-2026?

Given the significant miss last quarter, the market will closely scrutinize EPS to assess the company's recovery and profitability.

What is the revenue growth outlook for the upcoming quarters?

Investors need to understand the company's growth trajectory, especially after recent performance, to gauge future potential.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be overly cautious following the last earnings miss, failing to recognize Penumbra's potential for recovery and growth in the medical device sector.

Supporting Evidence

The options market is pricing a 19.6% move, indicating significant uncertainty that may not reflect the company's underlying strength.

Penumbra has a strong history of beating EPS estimates, with an 88% success rate in the last eight quarters.

Key Risk

If the EPS exceeds $1.00, it could shift market sentiment significantly.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Penumbra can regain its footing after a disappointing earnings report, making these thresholds critical.

Bull Confirmed If

An EPS of $1.00 or higher would confirm a strong recovery and growth outlook.

Bear Confirmed If

An EPS below $0.70 would indicate ongoing challenges and could lead to further declines.

Pre-Earnings Positioning

Options Market

Implied Move

±19.6%

Historical Avg

±1.4%

Pricing rich

The options market is pricing in a significant move of nearly 20%, indicating uncertainty around the upcoming earnings report.

Options are pricing ±19.6% while PEN has averaged ±1.4% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

11.1%

Calls (2K)P/C Ratio: 2.52Puts (32K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing rich in Health Care

n=30

Fade rate: 13 of 29 (45%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Penumbra beats expectations and raises guidance, history suggests the stock could see a positive reaction, potentially around +0.10%.

In-Line / Cautious

If the results are in line with expectations but lack strong guidance, the stock may remain stable or see slight fluctuations.

Miss

Should the company miss earnings expectations again, history indicates a potential decline, with an average move of -0.10%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new product launches and their expected impact on revenue.
2Management's commentary on market conditions and competitive landscape.
3Insights into operational efficiencies and cost management strategies.
4Details on customer feedback and adoption rates for existing products.
5Any guidance on future earnings and revenue expectations.