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10-Q Filing

PENUMBRA INC CIK: 1321732 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001321732-22-000053
Period End Date 20220331
Filing Date 20220503
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance pen-20220331_htm.xml
Balance Sheet 64 line items
Line Item Tag Value Unit Period
Allowance for credit losses AllowanceForDoubtfulAccountsReceivable $2.09M USD Point-in-time
Allowance for credit losses AllowanceForDoubtfulAccountsReceivable $759.00K USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $59.38M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $68.16M USD Point-in-time
Marketable investments AvailableForSaleSecuritiesDebtSecuritiesCurrent $172.18M USD Point-in-time
Marketable investments AvailableForSaleSecuritiesDebtSecuritiesCurrent $195.50M USD Point-in-time
Accounts receivable, net of allowance for credit losses of $759 and $2,092 at March 31, 2022 and December 31, 2021, respectively AccountsReceivableNetCurrent $133.94M USD Point-in-time
Accounts receivable, net of allowance for credit losses of $759 and $2,092 at March 31, 2022 and December 31, 2021, respectively AccountsReceivableNetCurrent $143.42M USD Point-in-time
Inventories InventoryNet $274.35M USD Point-in-time
Inventories InventoryNet $263.50M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $29.16M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $32.22M USD Point-in-time
Total current assets AssetsCurrent $690.33M USD Point-in-time
Total current assets AssetsCurrent $681.47M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $60.33M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $58.86M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $176.89M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $131.96M USD Point-in-time
Finance lease right-of-use assets FinanceLeaseRightOfUseAsset $35.55M USD Point-in-time
Finance lease right-of-use assets FinanceLeaseRightOfUseAsset $36.28M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $88.47M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $90.62M USD Point-in-time
Goodwill Goodwill $166.39M USD Point-in-time
Goodwill Goodwill $166.23M USD Point-in-time
Deferred taxes DeferredIncomeTaxAssetsNet $65.70M USD Point-in-time
Deferred taxes DeferredIncomeTaxAssetsNet $70.08M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $13.69M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $12.98M USD Point-in-time
Total assets Assets $1.24B USD Point-in-time
Total assets Assets $1.30B USD Point-in-time
Accounts payable AccountsPayableCurrent $14.14M USD Point-in-time
Accounts payable AccountsPayableCurrent $13.42M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $105.53M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $99.80M USD Point-in-time
Current operating lease liabilities OperatingLeaseLiabilityCurrent $8.66M USD Point-in-time
Current operating lease liabilities OperatingLeaseLiabilityCurrent $8.27M USD Point-in-time
Current finance lease liabilities FinanceLeaseLiabilityCurrent $1.71M USD Point-in-time
Current finance lease liabilities FinanceLeaseLiabilityCurrent $1.77M USD Point-in-time
Total current liabilities LiabilitiesCurrent $123.20M USD Point-in-time
Total current liabilities LiabilitiesCurrent $130.10M USD Point-in-time
Non-current operating lease liabilities OperatingLeaseLiabilityNoncurrent $182.44M USD Point-in-time
Non-current operating lease liabilities OperatingLeaseLiabilityNoncurrent $137.04M USD Point-in-time
Non-current finance lease liabilities FinanceLeaseLiabilityNoncurrent $26.12M USD Point-in-time
Non-current finance lease liabilities FinanceLeaseLiabilityNoncurrent $26.52M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $3.56M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $3.61M USD Point-in-time
Total liabilities Liabilities $342.27M USD Point-in-time
Total liabilities Liabilities $290.32M USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Common stock CommonStockValue $38.00K USD Point-in-time
Common stock CommonStockValue $37.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $910.61M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $919.25M USD Point-in-time
Accumulated other comprehensive (loss) income AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.63M USD Point-in-time
Accumulated other comprehensive (loss) income AccumulatedOtherComprehensiveIncomeLossNetOfTax $-5.97M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $45.98M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $45.91M USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $637.79M USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $650.47M USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $959.30M USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $953.93M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $1.30B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $1.24B USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Revenue Revenues $169.20M USD 1 Quarter
Revenue Revenues $203.90M USD 1 Quarter
Cost of revenue CostOfRevenue $57.87M USD 1 Quarter
Cost of revenue CostOfRevenue $76.48M USD 1 Quarter
Gross profit GrossProfit $111.34M USD 1 Quarter
Gross profit GrossProfit $127.42M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $20.56M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $18.08M USD 1 Quarter
Sales, general and administrative SellingGeneralAndAdministrativeExpense $79.80M USD 1 Quarter
Sales, general and administrative SellingGeneralAndAdministrativeExpense $110.90M USD 1 Quarter
Total operating expenses OperatingExpenses $97.87M USD 1 Quarter
Total operating expenses OperatingExpenses $131.46M USD 1 Quarter
(Loss) income from operations OperatingIncomeLoss $-4.05M USD 1 Quarter
(Loss) income from operations OperatingIncomeLoss $13.46M USD 1 Quarter
Interest (expense) income, net InterestIncomeExpenseNonoperatingNet $480.00K USD 1 Quarter
Interest (expense) income, net InterestIncomeExpenseNonoperatingNet $-47.00K USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-1.01M USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-1.48M USD 1 Quarter
(Loss) income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $12.47M USD 1 Quarter
(Loss) income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-5.10M USD 1 Quarter
(Benefit from) provision for income taxes IncomeTaxExpenseBenefit $-5.18M USD 1 Quarter
(Benefit from) provision for income taxes IncomeTaxExpenseBenefit $1.54M USD 1 Quarter
Consolidated net income ProfitLoss $79.00K USD 1 Quarter
Consolidated net income ProfitLoss $10.93M USD 1 Quarter
Net loss attributable to non-controlling interest NetIncomeLossAttributableToNoncontrollingInterest $-910.00K USD 1 Quarter
Net loss attributable to non-controlling interest NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Net income attributable to Penumbra, Inc. NetIncomeLoss $79.00K USD 1 Quarter
Net income attributable to Penumbra, Inc. NetIncomeLoss $11.84M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic - USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.32 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.32 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted - USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 36.46M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 37.65M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 38.71M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 37.53M shares 1 Quarter
Cash Flow Statement 66 line items
Line Item Tag Value Unit Period
Consolidated net income ProfitLoss $79.00K USD 1 Quarter
Consolidated net income ProfitLoss $10.93M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $5.73M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $3.47M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $8.89M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $6.39M USD 1 Quarter
Inventory write-downs InventoryWriteDown $593.00K USD 1 Quarter
Inventory write-downs InventoryWriteDown $991.00K USD 1 Quarter
Deferred taxes DeferredIncomeTaxesAndTaxCredits $-4.38M USD 1 Quarter
Deferred taxes DeferredIncomeTaxesAndTaxCredits $1.22M USD 1 Quarter
Other OtherOperatingActivitiesCashFlowStatement $886.00K USD 1 Quarter
Other OtherOperatingActivitiesCashFlowStatement $-1.01M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $12.94M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $8.71M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $31.61M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $11.76M USD 1 Quarter
Prepaid expenses and other current and non-current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $3.46M USD 1 Quarter
Prepaid expenses and other current and non-current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $3.81M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $1.27M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $1.39M USD 1 Quarter
Accrued expenses and other non-current liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $8.48M USD 1 Quarter
Accrued expenses and other non-current liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $8.25M USD 1 Quarter
Proceeds from lease incentives IncreaseDecreaseInLeaseIncentives - USD 1 Quarter
Proceeds from lease incentives IncreaseDecreaseInLeaseIncentives $230.00K USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-4.51M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-14.37M USD 1 Quarter
Purchases of marketable investments PaymentsToAcquireAvailableForSaleSecuritiesDebt $12.27M USD 1 Quarter
Purchases of marketable investments PaymentsToAcquireAvailableForSaleSecuritiesDebt - USD 1 Quarter
Proceeds from maturities of marketable investments ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $19.50M USD 1 Quarter
Proceeds from maturities of marketable investments ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $20.67M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $3.99M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $4.96M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities - USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $150.00K USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $15.71M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $3.09M USD 1 Quarter
Proceeds from exercises of stock options ProceedsFromStockOptionsExercised $666.00K USD 1 Quarter
Proceeds from exercises of stock options ProceedsFromStockOptionsExercised $1.10M USD 1 Quarter
Payment of employee taxes related to vested stock PaymentsRelatedToTaxWithholdingForShareBasedCompensation $3.18M USD 1 Quarter
Payment of employee taxes related to vested stock PaymentsRelatedToTaxWithholdingForShareBasedCompensation $3.04M USD 1 Quarter
Payments of finance lease obligations FinanceLeasePrincipalPayments $425.00K USD 1 Quarter
Payments of finance lease obligations FinanceLeasePrincipalPayments $337.00K USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $93.00K USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-137.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-2.64M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-2.61M USD 1 Quarter
Effect of foreign exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $228.00K USD 1 Quarter
Effect of foreign exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-146.00K USD 1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-14.04M USD 1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $8.78M USD 1 Quarter
CASH AND CASH EQUIVALENTSBeginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $55.63M USD Point-in-time
CASH AND CASH EQUIVALENTSBeginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $69.67M USD Point-in-time
CASH AND CASH EQUIVALENTSBeginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $68.16M USD Point-in-time
CASH AND CASH EQUIVALENTSBeginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $59.38M USD Point-in-time
CASH AND CASH EQUIVALENTSEnd of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $55.63M USD Point-in-time
CASH AND CASH EQUIVALENTSEnd of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $69.67M USD Point-in-time
CASH AND CASH EQUIVALENTSEnd of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $68.16M USD Point-in-time
CASH AND CASH EQUIVALENTSEnd of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $59.38M USD Point-in-time
Right-of-use assets obtained in exchange for lease obligations RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $803.00K USD 1 Quarter
Right-of-use assets obtained in exchange for lease obligations RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $47.68M USD 1 Quarter
Right-of-use assets obtained in exchange for finance lease obligations RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability $81.00K USD 1 Quarter
Right-of-use assets obtained in exchange for finance lease obligations RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability $428.00K USD 1 Quarter
Purchase of property and equipment funded through accounts payable and accrued liabilities CapitalExpendituresIncurredButNotYetPaid $2.18M USD 1 Quarter
Purchase of property and equipment funded through accounts payable and accrued liabilities CapitalExpendituresIncurredButNotYetPaid $1.63M USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaid $1.80M USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaid $132.00K USD 1 Quarter
Stockholders Equity 20 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $637.79M USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $650.47M USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $959.30M USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $953.93M USD Point-in-time
Issuance of common stock StockIssuedDuringPeriodValueShareBasedCompensation $666.00K USD 1 Quarter
Issuance of common stock StockIssuedDuringPeriodValueShareBasedCompensation $1.10M USD 1 Quarter
Shares held for tax withholdings AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $3.18M USD 1 Quarter
Shares held for tax withholdings AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $3.04M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $10.72M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $7.09M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-2.97M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-3.34M USD 1 Quarter
Net income (loss) NetIncomeLoss $79.00K USD 1 Quarter
Net income (loss) NetIncomeLoss $11.84M USD 1 Quarter
Net loss attributable to non-controlling interest NetIncomeLossAttributableToNoncontrollingInterest $-910.00K USD 1 Quarter
Net loss attributable to non-controlling interest NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $637.79M USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $650.47M USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $959.30M USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $953.93M USD Point-in-time
Comprehensive Income 14 line items
Line Item Tag Value Unit Period
Consolidated net income ProfitLoss $79.00K USD 1 Quarter
Consolidated net income ProfitLoss $10.93M USD 1 Quarter
Foreign currency translation adjustments, net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-2.69M USD 1 Quarter
Foreign currency translation adjustments, net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-868.00K USD 1 Quarter
Net change in unrealized losses on available-for-sale securities, net of tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-2.47M USD 1 Quarter
Net change in unrealized losses on available-for-sale securities, net of tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-271.00K USD 1 Quarter
Total other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTax $-2.97M USD 1 Quarter
Total other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTax $-3.34M USD 1 Quarter
Consolidated comprehensive (loss) income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-3.26M USD 1 Quarter
Consolidated comprehensive (loss) income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $7.96M USD 1 Quarter
Net loss attributable to non-controlling interest NetIncomeLossAttributableToNoncontrollingInterest $-910.00K USD 1 Quarter
Net loss attributable to non-controlling interest NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Comprehensive (loss) income attributable to Penumbra, Inc. ComprehensiveIncomeNetOfTax $8.87M USD 1 Quarter
Comprehensive (loss) income attributable to Penumbra, Inc. ComprehensiveIncomeNetOfTax $-3.26M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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