Revenue: As of FY2025 Q4, the actual value is USD 383.9 M, beating the estimate of USD 361.55 M.<h4>Merger Consideration and Equity Conversion</h4>Penumbra, Inc. entered into an Agreement and Plan of Merger with Boston Scientific Corporation on January 14, 2026, under which it will become a wholly owned subsidiary of Boston Scientific Corporation. At the effective time of the merger, each common share of Penumbra, Inc. will be converted into the right to receive either 3.8721 Parent Shares (Stock Consideration) or $374.00 in cash (Cash Consideration). A proration adjustment specifies that 73.26% of aggregate common shares will receive Cash Consideration, and 26.74% will receive Stock Consideration. The company is valued at $374 per share in a cash and stock transaction, reflecting an enterprise value of approximately $14.5 billion, based on 39.2 million common shares outstanding and approximately 40.0 million fully diluted shares. This implies $15 billion for 100% of the fully diluted equity, minus approximately $470 million in net cash and short-term investments as of September 30, 2025.Outstanding and unexercised Company Options with an exercise price below the Equity Award Consideration Value ($274.00 in cash and 1.0353 Parent Shares) will be converted into cash and Parent Shares. Accelerated RSUs will automatically vest and convert into the Equity Award Consideration (cash and Parent Shares). Other outstanding Company RSUs will be assumed by Parent and converted into restricted stock unit awards denominated in Parent Shares.<h4>Capitalization (as of January 12, 2026)</h4><ul><li>Authorized Common Stock: 300,000,000 shares (par value $0.001 per share).</li><li>Authorized Preferred Stock: 5,000,000 shares (par value $0.001 per share).</li><li>Issued and Outstanding Common Stock: 39,229,670 shares.</li><li>Shares Reserved for Future Issuance under Company Stock Plans: 6,067,836 shares, including 5,376 shares subject to outstanding Company Options, 548,931 shares subject to outstanding Company RSUs, and 104,660 Company RSUs subject to performance conditions.</li><li>Shares Reserved for Future Issuance under Company ESPP: 591,124 shares.</li></ul><h4>Termination Fees</h4>Penumbra, Inc. may be required to pay Boston Scientific Corporation a termination fee of $525,000,000 under certain conditions, such as terminating the agreement for a superior proposal. Conversely, Boston Scientific Corporation may be required to pay Penumbra, Inc. a termination fee of $900,000,000 if the Merger Agreement is terminated due to failure to obtain required antitrust approvals or clearances.<h4>Operational Constraints (Pre-Closing Period)</h4>During the pre-closing period, Penumbra, Inc. has agreed to certain operational limitations: Capital Expenditures: Not to exceed $65,000,000 in aggregate for the twelve-month period ended December 31, 2026, and $45,000,000 in aggregate for the twelve-month period ended December 31, 2027. Acquisitions: Not to exceed $20,000,000 individually or $50,000,000 in aggregate. Cash Compensation: Increases for employees are limited to the ordinary course of business, consistent with past practice, with an aggregate cost of less than or equal to five percent (5%) of such cash compensation on a calendar year basis.<h4>Preliminary Financial Results (Unaudited)</h4>Fourth Quarter 2025 Revenue: Between $383.0 million and $384.8 million, representing approximately 21.4% to 22.0% growth compared to Q4 2024. Excluding the impact of the China region, revenue growth was approximately 23.2% to 23.8%. Gross Margin: Ranged from 67.9% to 68.1%. Income from Operations: Between $56.9 million and $60.4 million. Operating Margin: Ranged from 14.8% to 15.7%.Full Year 2025 Revenue: Between $1,401.3 million and $1,403.1 million, marking approximately 17.3% to 17.5% growth compared to full year 2024. Excluding the impact of the China region, revenue growth was approximately 24.7% to 24.9%. Gross Margin: 67.1%. Income from Operations: Ranged from $186.9 million to $190.4 million. Operating Margin: Ranged from 13.3% to 13.6%.<h4>Outlook / Guidance</h4>Penumbra, Inc. expects to achieve fourth-quarter reported revenue growth in the range of approximately 21.4% to 22.0%. For the full year 2025, the company projects reported revenue of approximately $1.4 billion, representing growth between 17.3% and 17.5% over the prior fiscal year. No other specific forward-looking financial guidance was provided within the reference text.

Penumbra | 8-K: FY2025 Q4 Revenue Beats Estimate at USD 383.9 M