Penumbra (PEN) Operating Expenses (2014 - 2026)
Penumbra's Operating Expenses was $223.91 million in Q2 2026, up 22.2% from $183.18 million a year earlier and up 4.1% from the prior quarter.
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Analysis
Penumbra (PEN) Operating Expenses (2014 - 2026) Analysis & Trends
On a trailing twelve-month basis, Penumbra's Operating Expenses was $833.56 million through Jun 30, 2026, up 20.5% year-over-year; for FY2025, it was $753.19 million, up 1.0% from FY2024.
- Operating Expenses has now increased for 12 consecutive years, with a five-year compound annual growth rate of 14.8% (FY2020 to FY2025).
- In earlier years, Operating Expenses was $745.72 million in FY2024 (+22.4%), $609.09 million in FY2023 (+15.1%), $529.13 million in FY2022 (+9.6%) and $482.88 million in FY2021 (+28.0%).
- The Q2 2026 figure marks the highest quarterly Operating Expenses since Q2 2024.
- Compared with a year earlier, Operating Expenses has increased for four straight quarters, with growth averaging 8.9% over the last eight quarters.
- The best year-over-year quarter for Operating Expenses over five years was Q4 2021 (growth of 72.3%); the worst was Q2 2025 (a decline of 24.9%).
- Per Business Quant data, PEN's Operating Expenses in the three quarters before Q2 2026 was $215.18 million (Q1 2026), $202.9 million (Q4 2025) and $191.58 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Thermo Fisher Scientific | 251.30 Bn | 230.45 Bn | 4.88 Bn | 9.91 Bn |
| 2 | Abbott Laboratories | 174.70 Bn | 145.78 Bn | 7.27 Bn | 10.90 Bn |
| 3 | Danaher | 158.94 Bn | 142.76 Bn | 3.61 Bn | 2.48 Bn |
| 4 | Intuitive Surgical | 145.87 Bn | 125.42 Bn | 1.96 Bn | 988.50 Mn |
| 5 | Medtronic | 111.49 Bn | 77.36 Bn | 6.34 Bn | 4.06 Bn |
| 6 | Stryker | 106.96 Bn | 93.08 Bn | 4.50 Bn | 2.84 Bn |
| 7 | Boston Scientific | 63.62 Bn | 58.63 Bn | 3.85 Bn | 2.67 Bn |
| 8 | Edwards Lifesciences | 50.80 Bn | 34.92 Bn | 1.35 Bn | 840.10 Mn |
| 9 | Becton Dickinson | 49.59 Bn | 46.74 Bn | 2.32 Bn | 4.32 Bn |
| 10 | Penumbra | 12.56 Bn | 10.27 Bn | 264.94 Mn | 223.91 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 223.91 Mn |
| Mar 31, 2026 | 215.18 Mn |
| Dec 31, 2025 | 202.90 Mn |
| Sep 30, 2025 | 191.58 Mn |
| Jun 30, 2025 | 183.18 Mn |
| Mar 31, 2025 | 175.53 Mn |
| Dec 31, 2024 | 167.95 Mn |
| Sep 30, 2024 | 164.94 Mn |
| Jun 30, 2024 | 243.79 Mn |
| Mar 31, 2024 | 169.04 Mn |
| Dec 31, 2023 | 151.96 Mn |
| Sep 30, 2023 | 165.09 Mn |
| Jun 30, 2023 | 148.97 Mn |
| Mar 31, 2023 | 143.06 Mn |
| Dec 31, 2022 | 133.59 Mn |
| Sep 30, 2022 | 129.89 Mn |
| Jun 30, 2022 | 134.17 Mn |
| Mar 31, 2022 | 131.46 Mn |
| Dec 31, 2021 | 165.50 Mn |
| Sep 30, 2021 | 111.13 Mn |
API Access
Penumbra Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=PEN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "PEN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=PEN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();