Outset Medical, Inc.

NASDAQ•OM

CEO: Ms. Leslie L. Trigg

Sector: Healthcare

Industry: Medical - Devices

Listing Date: 2020-09-15

Outset Medical, Inc., a medical technology company, engages in the development of a hemodialysis system for hemodialysis in the United States. The company offers Tablo Hemodialysis System, a compact console with integrated water purification, on-demand dialysate production, and software and connectivity capabilities for dialysis care in acute and home settings; and manufactures, supports, and distributes for Tablo console, Tablo cartridge, and other consumables. It also provides Tablo Data Ecosystem, including TabloHub, a customer-facing portal; MyTablo, a patient-facing portal; and TabloDash, an internal data analytics platform. The company was formerly known as Home Dialysis Plus, Ltd. and changed its name to Outset Medical, Inc. in January 2015. Outset Medical, Inc. was incorporated in 2003 and is headquartered in San Jose, California.

Contact Information

3052 Orchard Drive, San Jose, CA, 95134, United States

669-231-8200

www.outsetmedical.com

Market Cap

$58.23M

P/E (TTM)

-0.7

Dividend Yield

52W High

$21.98

52W Low

$3.00

52W Range

Rank64Top 94.9%

1.7

F-Score

Modified Piotroski Analysis

Based on 7-year fundamentals

Weak • 1.7 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2019-2025

Financial Dashboard

Q4 2025 Data

Revenue

$28.87M+0.00%

4-Quarter Trend

EPS

-$1.09+0.00%

4-Quarter Trend

FCF

-$9.74M+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Total Revenue Increased 5% Total revenue reached $119.5M USD, driven by 5% product revenue growth and 6% service revenue growth in 2025.

Gross Margin Expanded Significantly Gross margin improved 5.2 points to 39.1% USD, primarily due to lower unit manufacturing costs and higher pricing.

Net Loss Narrowed Substantially Net loss decreased to $(81.7M) USD from $(128.0M) USD, supported by 25% reduction in total operating expenses.

New Credit Facility Secured Secured $100.0M Initial Term Loan in January 2025, providing capital structure flexibility for near-term operational needs.

Risk Factors

Continued Operating Losses Expected Incurred net losses of $81.7M USD in 2025; expects continued operating losses while investing for future growth.

Revenue Concentration Risk Revenue highly dependent on Tablo product success; largest customer represented 15% of total revenue in 2025.

FDA Compliance and Product Risk Compliance with pervasive FDA regulations is critical; failure risks enforcement actions, product restrictions, or recalls.

Capital Access and Covenants Future financing needs exist; new credit agreement imposes restrictions including minimum cash balance and revenue targets.

Outlook

Broaden Acute and Home Base Plans leverage commercial infrastructure to expand installed base across acute, post-acute, and home dialysis markets.

Optimize Margins and Expenses Focus on achieving sustainable profitability by growing recurring consumable revenue and optimizing operating expenses structure.

Continue Product Innovation Investment Plans continued investment in R&D to enhance clinical evidence, improve Tablo reliability, and develop new features.

Drive Home Dialysis Adoption Home setting represents significant growth opportunity; continuing to collect patient outcomes data to demonstrate cost advantages.

Peer Comparison

Revenue (TTM)

OMI

$2.76B

-41.0%

INGN

$348.67M

+3.9%

VMD

$270.28M

+20.5%

Gross Margin (Latest Quarter)

OMI

93.9%

-2.1pp

CVRX

86.3%

+3.6pp

CRBU

82.7%

-28.7pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
CATX	$397.62M	-3.8	-39.1%	1.1%
VMD	$368.46M	24.2	10.9%	7.4%
QTRX	$234.49M	-2.2	-35.2%	8.9%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

-1.0%

Flat Growth

4Q Net Income CAGR

N/M

Profitability Shift

Cash Flow Stability

Cash Flow Needs Attention

Deep Research

Next earnings:May 5, 2026

EPS:-

Revenue:-

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data