What is Penumbra's research and development expense?

Penumbra (PEN) reported research and development expense of $22.38M in Q1 2026.

How has Penumbra's research and development expense changed year-over-year?

Penumbra's research and development expense increased by 1.4% year-over-year, from $22.08M to $22.38M.

What is the long-term trend for Penumbra's research and development expense?

Over 3 years (2021 to 2025), Penumbra's research and development expense has grown at a -5.0% compound annual growth rate (CAGR), from $104.55M to $89.77M.

Penumbra PEN Research and development expense

Research and development expense at other companies

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$516M+16.5%

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Other financials

Income statement

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Revenue$374.8M+15.6%

Gross profit$253.4M+17.4%

Operating income$38.2M-5.2%

Net income$32.6M-16.9%

EPS (diluted)$0.82-18.0%

Balance sheet

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Cash & equivalents$241.3M-35.8%

Total debt$216.2M-2.0%

Total equity$1.5B+21.5%

Total assets$1.9B+19.2%

Cash flow

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Operating cash flow$87.0M+77.6%

CapEx$13.7M+1.5%

Free cash flow$73.3M+106%

Valuation

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Market cap$12.48B+25.1%

Enterprise value$12.45B+26.8%

P/E72.9×-163×

P/S8.6×+0.5×

Profitability

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Gross margin67.4%+3.7pp

Operating margin12.9%+9.8pp

Net margin11.8%+8.4pp

FCF margin14.6%+2.5pp

Returns & leverage

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Return on equity12.7%+9.2pp

Debt / equity0.1×0.0×

Current ratio6×-0.3×

Where this comes from

Reported directly by Penumbra in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost.

The official record: Penumbra’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Penumbra's research and development expense?: Penumbra (PEN) reported research and development expense of $22.38M in Q1 2026.
How has Penumbra's research and development expense changed year-over-year?: Penumbra's research and development expense increased by 1.4% year-over-year, from $22.08M to $22.38M.
What is the long-term trend for Penumbra's research and development expense?: Over 3 years (2021 to 2025), Penumbra's research and development expense has grown at a -5.0% compound annual growth rate (CAGR), from $104.55M to $89.77M.