UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-42549 Kestra Medical Technologies, Ltd. (Exact Name of Registrant as Specified in its Charter) (State or other jurisdiction of incorporation or organization) 3933 Lake Was ...

KIRKLAND, Wash., July 17, 2025 (GLOBE NEWSWIRE) -- Kestra Medical Technologies, Ltd. (Nasdaq: KMTS), a wearable medical device and digital healthcare company, announced today that it is a 2025 Top Workplaces Industry winner by Energage, a purpose-driven organization that develops solutions to build and brand Top Workplaces. The Top Workplaces program has a 17-year history of surveying and celebrating people-first organizations nationally and across 60 regional markets. Top Workplaces Industry awards celebra ...

Financial Data and Key Metrics Changes - Total revenue for Q4 2025 was $17.2 million, representing a 71% increase year-over-year [9][24] - For fiscal year 2025, total revenue reached $59.8 million, a 115% increase compared to fiscal year 2024 [24] - Gross margin improved to 44.3% in Q4 2025 from 13.9% in the prior year [10][25] - Fiscal year 2025 gross margin was 40.5%, up from 1.3% in fiscal year 2024 [11][25] - GAAP net loss for Q4 2025 was $51.1 million, compared to a loss of $22.3 million in the prior year [29] - Adjusted EBITDA loss for Q4 2025 was $20.3 million, compared to a loss of $16.5 million in the prior year [29] Business Line Data and Key Metrics Changes - The Assure system generated over 3,900 prescriptions in Q4 2025, a 43% increase year-over-year [9] - Revenue growth was driven by a higher mix of in-network patients and improvements in revenue cycle management capabilities [24][25] Market Data and Key Metrics Changes - Covered lives for the Assure system now total over 285 million health plan members in the U.S. [13] - The company is targeting geographies with high volumes of WCD prescriptions and strong in-network payer coverage [12] Company Strategy and Development Direction - The company aims to expand its commercial team and enhance revenue cycle management capabilities [11][12] - Plans to nearly double sales coverage over the next few years, increasing from approximately 80 sales territories [12] - The company is focused on continuous innovation and has over 365 patent assets [14][15] - The goal is to make the Assure system the standard of care for patients at risk of sudden cardiac arrest [23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving significant operating leverage and gross margin expansion over the next few years [11][30] - The company expects revenue of $85 million for fiscal year 2026, a 42% increase compared to fiscal year 2025 [30] - Management highlighted the underutilization of WCD therapy, indicating a significant market opportunity [16][17] Other Important Information - The company is not subject to competitive bidding due to the Assure system being a class III medical device [26] - The company is focused on building clinical evidence to support the safety and efficacy of the Assure system [15][84] Q&A Session Summary Question: Guidance for fiscal year 2026 and underlying assumptions - Management indicated that revenue growth will be driven by sales territory productivity, expansion plans, and penetration of existing accounts [33][35] Question: Margin expansion potential - Management noted that margin expansion is expected due to increasing volumes and improved revenue per fit [37][38] Question: Sole source contract with a provider network - Management explained that the contract allows for better patient management and smoother revenue cycle processes [40][42] Question: Seasonality considerations for fiscal year 2026 - Management stated that prescription growth is expected to average 40% per quarter, with higher conversion rates in the first half of the year [44][45] Question: Competitive response and guidance - Management clarified that the guidance reflects normal scaling and territory ramp-up, with no significant competitive issues [48][50] Question: Conversion rate drivers - Management identified fill rate, claim conversion, and in-network patient mix as key drivers of the conversion rate [59][61] Question: Plans for randomized trials - Management is focused on executing the post-approval study and leveraging the data from the registry [83][85]

Exhibit 99.1 Kestra Medical Technologies Reports Fourth Quarter and Fiscal Year 2025 Financial Results KIRKLAND, Wash., July 15, 2025 (GLOBE NEWSWIRE) — Kestra Medical Technologies, Ltd. (Nasdaq: KMTS), a wearable medical device and digital healthcare company, today reported financial results for the fourth quarter and fiscal year ended April 30, 2025. Financial Highlights "We capped an exciting year for Kestra with a very strong finish to our fiscal 2025. This quarter's financial results reflect accelerati ...

Core Insights - Kestra Medical Technologies, Ltd. reported strong financial results for Q4 and FY25, driven by increased demand for its ASSURE® cardiac recovery system [3][5][6] - The company achieved a total revenue of $59.8 million in FY25, marking a 115% increase compared to FY24 [5][6] - Gross margin improved significantly, reaching 44.3% in Q4 FY25 and 40.5% for FY25, compared to 13.9% and 1.3% in the prior periods respectively [6][15] Financial Performance - Q4 FY25 revenue was $17.2 million, a 71% increase year-over-year, with 3,903 prescriptions written for the ASSURE® system, up 43% from the previous year [6][7] - The company generated a gross profit of $7.6 million in Q4 FY25, compared to $1.4 million in the same period last year [7][20] - GAAP net loss for Q4 FY25 was $51.1 million, compared to a loss of $22.3 million in Q4 FY24 [7][21] Operational Highlights - The company wrote a total of 13,193 prescriptions for the ASSURE® system in FY25, a 72% increase from FY24 [15] - Operating expenses for FY25 were $130.6 million, up from $85.4 million in FY24, largely due to increased commercial and revenue cycle resources [15][21] - Cash and cash equivalents stood at $237.6 million as of April 30, 2025, a significant increase from $8.2 million a year earlier [18] Future Outlook - Kestra has initiated revenue guidance for FY26 at $85 million, representing a 42% increase compared to FY25 [6][9] - The company remains focused on innovation and enhancing prescriber and patient support to drive market expansion [3][6]

Company Overview - Kestra Medical Technologies, Ltd. is a commercial-stage wearable medical device and digital healthcare company focused on transforming patient outcomes in cardiovascular disease through intuitive, intelligent, and connected monitoring and therapeutic intervention technologies [3] Financial Results Announcement - Kestra Medical Technologies will report its fourth quarter and fiscal year 2025 financial results on July 15, 2025 [1] - A conference call will be hosted by management at 4:30 p.m. Eastern Time on the same day [1] Conference Call Details - A live and archived webcast of the conference call will be available in the "Events" section of the investor relations website [2] - Participants are encouraged to register on the website at least 10 minutes prior to the start of the conference call [2]

Summary of Kestra Medical Technologies (KMTS) FY Conference Call Company Overview - Kestra Medical Technologies is a newly public company focused on protecting at-risk cardiac patients with its Asure wearable defibrillator product [2][3] - The company went public in March 2025 and has completed its first quarter as a public entity [2] Target Patient Population - The primary patient population includes those who have experienced a heart attack and those with non-ischemic cardiomyopathy or heart failure [3][4] - Approximately 40% of patients using the Asure device will eventually receive an implanted device [4][5] Market Dynamics - The total addressable market (TAM) in the U.S. is approximately 850,000 patients annually, with a revenue market size of about $1 billion [8][9] - Current penetration is around 120,000 patients, indicating significant growth potential [9] - The market is expected to grow at mid-single digits, with continuous price increases tied to reimbursement rates [10][13] Competitive Landscape - Kestra Medical is positioned as a second entrant in a market dominated by a long-standing competitor, which has been in the market for 20 years [11][12] - Initial feedback from payers and prescribers indicates a positive reception to the differentiated product offering [12] - The competitor has employed various tactics to defend market share, including questioning Kestra's experience and financial stability [15][16] Product Differentiation - The Asure device has a significantly lower false alarm rate (under 6%) compared to the competitor's (approximately 46%) [30] - The product is designed for comfort and includes a digital suite for real-time monitoring, which is not offered by competitors [32] Sales and Marketing Strategy - The company has expanded its sales team and territories significantly since its IPO, enhancing its market presence [21][54] - Positive feedback from physicians indicates that the product is viewed as a valuable diagnostic tool, not just a defibrillator [24][25] Financial Performance and Projections - The company has seen a sequential increase in gross margins over five quarters, with expectations to achieve 70% gross margins in the near future [59][61] - The rental model allows for high incremental margins, with a projected EBITDA margin of over 25% at $250 million in revenue [62] Revenue Cycle Management - The revenue cycle management (RCM) process is crucial for ensuring timely payments from payers, with a mix of in-network and out-of-network patients affecting cash flow [63][64] - The company has secured coverage with major payers, including Kaiser, enhancing its revenue potential [65] Upcoming Developments - A significant clinical study involving over 20,000 patients is expected to conclude in the next 60 to 90 days, which will provide substantial clinical evidence for the product [68][70] - The company aims to present findings at major cardiology conferences, which could enhance visibility and credibility [69] Key Takeaways - Kestra Medical is positioned in a large and growing market with a superior product offering and established reimbursement guidelines [72] - The company is focused on expanding its market penetration and improving patient outcomes, with a strong commitment to service delivery [51][73]

Group 1 - Kestra Medical Technologies, Ltd. (KMTS) went public in early March, presenting a promising investment opportunity due to its cardiac recovery system's rapid growth [1] - The investing group "Value In Corporate Events" focuses on providing actionable ideas related to major corporate events such as IPOs, mergers & acquisitions, and earnings reports [1] - The group covers approximately 10 major events each month, aiming to identify the best investment opportunities [1]

Company Overview - Kestra Medical Technologies, Ltd. is a wearable medical device and digital healthcare company focused on transforming patient outcomes in cardiovascular disease through innovative monitoring and therapeutic intervention technologies [3]. Leadership Appointment - Conor Hanley has been appointed as an independent director to the board of Kestra Medical Technologies, effective June 4, 2025 [1]. - Brian Webster, President and CEO of Kestra, expressed enthusiasm about Hanley's appointment, highlighting his deep expertise in medical technology and cardiac care as a strategic resource for the company [2]. Conor Hanley's Background - Mr. Hanley is currently the CEO of FIRE1, a venture-backed company focused on connected medical device solutions for heart failure [2]. - He has held senior management roles at ResMed, leading the cardiology business unit and chronic disease management solutions globally [2]. - Hanley co-founded and served as CEO of BiancaMed, a medical device company acquired by ResMed, and holds a PhD in chemical engineering and an MBA [2]. Strategic Focus - Mr. Hanley expressed his honor in joining the Kestra board and emphasized the company's role in driving innovation in the wearable cardioverter defibrillator market [3]. - The company aims to scale its operations and fulfill its commitments to patients and prescribers [3].

Kestra Medical Technologies (KMTS) 2025 Conference Summary Company Overview - **Company**: Kestra Medical Technologies (KMTS) - **Industry**: Medical Devices and Digital Healthcare - **Product**: Wearable Cardioverter Defibrillator (WCD) - **IPO**: Recently went public, marking its first post-IPO conference [1][7] Market Position and Product Offering - **Market Size**: Approximately 850,000 patients diagnosed annually in the US with an ejection fraction of 35% or below, representing a Total Addressable Market (TAM) of about $10 billion in the US [11] - **Competitors**: Previously dominated by ZOLL Medical, which held a monopoly for about 20 years [11] - **Current Market Penetration**: Only about 120,000 patients treated last year, indicating significant growth potential [11] Business Model - **Rental Model**: Patients are fitted with the device in a hospital or clinic, monitored digitally, and the device is returned after approximately three months [5][6] - **Insurance Coverage**: Currently covers approximately 285 million lives in the US, equating to about 90% coverage [25] - **Recent Contract**: Secured a significant contract with Kaiser, enhancing the speed of prescription fulfillment due to their closed network [27][28] Growth Strategy - **Sales Force Expansion**: Plans to increase sales territories from 70 to 80 by April, with a long-term goal to double this number [21][22] - **Market Development**: Actively engaging in market development strategies to expand the overall market, not just gain market share [14][15] - **Sales Rep Training**: New sales representatives typically take about six months to reach full productivity [23] Financial Performance and Projections - **Gross Margin Improvement**: Projected gross margins to improve from 14% last year to 44% this year, with a long-term goal of reaching 70% [48][51] - **Revenue Breakeven**: Expected to achieve breakeven at approximately $250 million in revenue, with a projected EBITDA margin of 25% [53] - **Unit Economics**: Each unit can generate about $300,000 in revenue over ten years, with cash margins around 80-82% [55] Competitive Landscape - **New Competitor**: Element Science received FDA approval for a new adhesive-based product, which may increase market awareness but is not seen as a direct threat due to Kestra's superior product features [41][42] - **ZOLL's Response**: ZOLL is making iterative improvements to their product but has not introduced significant technical updates [45] Innovation and Future Outlook - **R&D Focus**: Kestra is investing in next-generation technologies and has a strong patent portfolio with around 370 patents [62] - **Market Expansion Evidence**: Some physicians have reported a 120% increase in prescription rates after switching to Kestra [39] Key Takeaways - **Underpenetrated Market**: Significant growth opportunities exist in the wearable defibrillator market - **Strategic Growth**: Focus on responsible expansion of sales force while maintaining service levels - **Financial Health**: Strong path towards profitability with improving gross margins and revenue projections This summary encapsulates the key points discussed during the conference, highlighting Kestra Medical Technologies' market position, growth strategies, financial outlook, and competitive landscape.