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Financials · OM

Outset Medical Inc. (OM) financials

For the twelve months ended Sep 30, 2026, Outset Medical Inc. reported $121.97M of revenue and -$71.14M of net income.

Revenue, TTM
$121.97M
Revenue growth, YoY
+1.6%
Net income, TTM
-$71.14M
Net margin
-58.3%
Free cash flow, TTM
-$42.89M
Cash
$33.94M
Total debt
$98.37M
P/S
0.64
Market cap
$77.8M
Annual revenue$119.48M
FY2018FY2025
Annual net income-$81.65M
FY2018FY2025
Annual free cash flow-$47.13M
FY2018FY2025

OM revenue and earnings growth

OM revenueQ3 2026$33.60M

Quarter YoY
+14.2%
QoQ
+6.2%
FY YoY
+5.1%
5Y CAGR
+19.1%

OM revenue was $33.60M in fiscal Q3 2026 (ended Sep 30, 2026), up 14.2% from a year earlier and up 6.2% from the prior quarter. For the full fiscal 2025 it was $119.48M, up 5.1% from fiscal 2024. Compound annual growth was +19.1% over 5 years. It rose in 6 of the last 7 fiscal years.

OM net incomeQ3 2026-$14.69M

OM net income was -$14.69M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$17.84M a year earlier. For the full fiscal 2025 it was -$81.65M, compared with -$127.98M in fiscal 2024.

OM EPSQ3 2026-$0.78

OM diluted EPS was -$0.78 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$1.00 a year earlier. For the full fiscal 2025 it was -$5.37.

OM free cash flowQ3 2026-$10.49M

OM free cash flow was -$10.49M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$6.48M a year earlier. For the full fiscal 2025 it was -$47.13M, compared with -$117.22M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Revenue$119.48M$113.69M$130.38M$115.38M$102.60M$49.94M$15.08M$2.01M
Cost of revenue$72.72M$75.13M$101.38M$97.54M$94.99M$62.97M$32.88M$8.12M
Gross profit$46.75M$38.56M$29.00M$17.83M$7.61M-$13.04M-$17.80M-$6.12M
Research and development$21.23M$38.40M$57.31M$48.85M$36.74M$28.85M$23.33M$22.92M
Selling, general and admin$37.86M$43.50M$45.23M$40.52M$36.32M$30.51M$8.92M$6.25M
Operating income-$66.71M-$113.38M-$169.77M-$161.02M-$130.52M-$117.47M-$70.31M-$46.56M
Interest expense$13.95M$23.87M$12.68M$3.57M$1.72M$2.89M$4.26M$4.64M
Pre-tax income-$80.94M-$127.48M-$172.27M-$162.66M-$131.74M-$121.49M-$68.28M-$49.76M
Income tax$718.0K$491.0K$523.0K$295.0K$199.0K$0$20.0K$25.0K
Net income-$81.65M-$127.98M-$172.80M-$162.96M-$131.94M-$121.49M-$68.30M-$49.78M
EPS, basic-$5.37-$36.96-$52.28-$50.70-$43.35-$72.75-$1493.70-$1511.25
EPS, diluted-$5.37-$36.96-$52.28-$50.70-$43.35-$72.75-$1493.70-$1511.25
Diluted shares15,2113,4633,3053,210.7333,039.2671,090.53357,20048,333.333

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Cash and equivalents$35.01M$124.01M$68.51M$73.22M$182.35M$294.97M$36.93M-
Short-term investments$133.94M$34.67M$134.81M$214.28M$157.14M$19.90M$33.15M-
Receivables$28.33M$35.62M$32.98M$28.07M$25.60M$6.47M$3.91M-
Inventory$47.61M$59.39M$49.22M$51.48M$39.19M$18.38M$4.60M-
Current assets$250.88M$258.22M$291.22M$373.64M$409.80M$345.91M$79.65M-
Total assets$264.50M$275.80M$313.80M$400.12M$463.46M$403.83M$88.37M-
Current liabilities$37.63M$45.38M$55.32M$51.95M$51.70M$36.69M$24.91M-
Short-term debt---$4.75M$0$2.02M$7.50M-
Long-term debt$96.24M$197.38M$130.11M$96.34M$29.76M$29.67M$21.56M-
Total debt$96.24M$197.38M$130.11M$101.09M$29.76M$31.70M$29.06M-
Total liabilities$137.54M$248.98M$190.91M$154.13M$89.38M$75.22M$51.11M-
Shareholders' equity$126.95M$26.82M$122.89M$245.99M$374.08M$328.61M-$372.19M-$287.95M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Operating cash flow-$46.33M-$116.30M-$131.37M-$145.73M-$130.26M-$99.02M-$70.29M-$46.44M
Capital expenditures$798.0K$912.0K$3.44M$8.32M$3.11M$9.08M$3.29M$1.77M
Free cash flow-$47.13M-$117.22M-$134.81M-$154.05M-$133.37M-$108.09M-$73.58M-$48.21M
Investing cash flow-$97.68M$103.94M$83.03M-$66.30M-$142.51M$3.95M$74.30M-$68.78M
Financing cash flow$55.50M$67.87M$43.65M$72.90M$160.15M$385.68M$249.0K$134.87M
Stock-based compensation$15.62M$29.36M$38.63M$27.20M$17.45M$21.44M$883.0K$788.0K
Depreciation and amortization$4.34M$5.73M$5.81M$5.17M$5.16M$3.16M$1.48M$1.07M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Revenue growth, YoY5.1%-12.8%13.0%12.4%105.5%231.2%651.3%-
Gross margin39.1%33.9%22.2%15.5%7.4%-26.1%-118.1%-304.7%
Operating margin-55.8%-99.7%-130.2%-139.6%-127.2%-235.2%-466.3%-2320.0%
Net margin-68.3%-112.6%-132.5%-141.2%-128.6%-243.3%-453.0%-2480.3%
Free cash flow margin-39.4%-103.1%-103.4%-133.5%-130.0%-216.5%-488.0%-2402.0%
Return on equity-64.3%-477.2%-140.6%-66.2%-35.3%-37.0%--
Return on assets-30.9%-46.4%-55.1%-40.7%-28.5%-30.1%-77.3%-
Current ratio6.675.695.267.197.939.433.20-
Debt to equity0.767.361.060.410.080.10--

Source: XBRL data Outset Medical Inc. files with the SEC, latest filing dated Nov 4, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures and share counts are restated for stock splits the filings show: 1-for-15, first reported May 8, 2025.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

OM peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
OM$121.97M+1.6%-$71.14M-58.3%$77.8M
MDT$37.54B+9.8%$5.24B14.0%$131.48B
LIVN$1.51B+11.7%$196.06M13.0%$5.10B
ITGR$1.83B-0.3%$103.70M5.7%$4.30B
TMDX$727.65M+28.5%$144.45M19.9%$3.26B
AXGN$266.93M+24.3%-$31.92M-12.0%$3.02B
CNMD$1.37B+1.6%$73.43M5.4%$1.55B
CBLL$108.72M+31.3%-$73.88M-68.0%$1.07B
INMD$370.50M-6.2%$93.83M25.3%$776.6M

OM FAQ

8 questions
  • What is OM revenue?
    Outset Medical Inc. (OM) reported $121.97M of revenue for the twelve months ended Sep 30, 2026. That is up 1.6% from the year before. Revenue for fiscal 2025 was $119.48M.
  • Is OM profitable?
    No. Outset Medical Inc. reported a net loss of $71.14M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does OM have?
    Outset Medical Inc. reported $33.94M in cash and cash equivalents and $98.37M of debt on its most recent balance sheet in SEC filings.
  • How fast is OM revenue growing?
    Outset Medical Inc.'s revenue changed +5.1% in fiscal 2025, to $119.48M. Its compound annual growth rate was +19.1% over 5 years.
  • What is OM gross margin?
    Outset Medical Inc.'s gross profit was $51.28M on $121.97M of revenue for the twelve months ended Sep 30, 2026, a gross margin of 42.0%.
  • What is OM free cash flow?
    Outset Medical Inc. generated -$42.89M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$42.38M less capital expenditures.
  • When did OM last report financial results?
    The latest statements here come from Outset Medical Inc.'s 10-Q filed on Nov 4, 2026, covering the period ended Sep 30, 2026.
  • Where does this OM financial data come from?
    Quantisnow builds these statements from the structured XBRL data Outset Medical Inc. files with the SEC. It is provided for information only and is not investment advice.