# Penumbra Inc (PEN) MD&A by fiscal year

Verbatim Item 7 Management's Discussion and Analysis sections from Penumbra Inc's 10-K filings, one page per fiscal year. Extracted from SEC filings with the same bounded parser for every year. Filer text, not grepcent analysis or investment advice.

- [FY 2025 MD&A](/company/PEN/mda/fy2025/): filed 2026-02-25; accession 0001321732-26-000007 (https://www.sec.gov/Archives/edgar/data/1321732/000132173226000007/pen-20251231.htm); latest 10-K
- [FY 2024 MD&A](/company/PEN/mda/fy2024/): filed 2025-02-18; accession 0001321732-25-000012 (https://www.sec.gov/Archives/edgar/data/1321732/000132173225000012/pen-20241231.htm)
- [FY 2023 MD&A](/company/PEN/mda/fy2023/): filed 2024-02-22; accession 0001321732-24-000025 (https://www.sec.gov/Archives/edgar/data/1321732/000132173224000025/pen-20231231.htm)
- [FY 2022 MD&A](/company/PEN/mda/fy2022/): filed 2023-02-23; accession 0001321732-23-000034 (https://www.sec.gov/Archives/edgar/data/1321732/000132173223000034/pen-20221231.htm)
- [FY 2021 MD&A](/company/PEN/mda/fy2021/): filed 2022-02-22; accession 0001321732-22-000017 (https://www.sec.gov/Archives/edgar/data/1321732/000132173222000017/pen-20211231.htm)

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