Flagship explainer

How Penumbra, Inc makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$1.4B · 100%Cost of revenue$461M · 33%Gross profit$942M · 67%Operating income$189M · 13%Income before tax$205M · 15%Income tax$27.4M · 2%Net income$178M · 13%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$1.4B100%
Cost of revenue$461M33%
$942M67%
$189M13%
Income before tax$205M15%
Income tax$27.4M2%
$178M13%
Source: · event Dec 31, 2025 · retrieved Jul 26, 2026 · annual-row source set
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