ALAMEDA, Calif., Aug. 9, 2016 /PRNewswire/ -- Penumbra, Inc. (NYSE: PEN), a global interventional therapies company, today reported financial results for the second quarter ended June 30, 2016.
- Revenue of $65.1 million in the second quarter of 2016, an increase of 53.9%, or 53.2% in constant currency1, over the second quarter of 2015.
Second Quarter 2016 Financial Results
Total revenue grew to $65.1 million for the second quarter of 2016 compared to $42.3 million for the second quarter of 2015, an increase of 53.9%, or 53.2% on a constant currency basis. The U.S. represented 67.1% of total revenue and international represented 32.9% of total revenue for the second quarter of 2016. Revenue from sales of neuro products grew to $45.4 million for the second quarter of 2016, an increase of 31.9%, or 31.1% on a constant currency basis. Revenue from sales of peripheral vascular products grew to $19.7 million for the second quarter of 2016, an increase of 149.6%, or 149.3% on a constant currency basis.
Gross profit was $41.5 million, or 63.7% of total revenue, for the second quarter of 2016, compared to $27.4 million, or 64.7% of total revenue, for the second quarter of 2015.
Total operating expenses were $42.1 million, or 64.7% of total revenue, for the second quarter of 2016, compared to $31.2 million, or 73.7% of total revenue, for the second quarter of 2015. R&D expenses were $6.3 million for the second quarter of 2016, compared to $4.8 million for the second quarter of 2015. SG&A expenses were $35.9 million for the second quarter of 2016, compared to $26.4 million for the second quarter of 2015.
Net income for the second quarter of 2016 was $0.2 million, compared to a net loss of $2.7 million for the second quarter of 2015.
As of June 30, 2016, cash and cash equivalents and marketable investments totaled $139.9 million.
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