Outset Medical(US:OM)2025-05-07 20:15Revenue Performance - Revenue for Q1 2025 was $29.8 million, a 6% increase from $28.2 million in Q1 2024[4] - Recurring revenue from Tablo cartridges and services reached $22.7 million, a 20% increase compared to $19 million in the prior-year period[4] - The company reiterated 2025 revenue guidance of $115 million to $125 million, with non-GAAP gross margin expected in the high-30% range[11] - Tablo console revenue grew 23% from the previous quarter, reflecting strong demand[8] Profitability and Margins - Gross profit increased by 35% to $11.1 million, with a gross margin of 37.2%, up from 29.2% in Q1 2024[5] - GAAP gross profit increased to $11.1 million in Q1 2025, up from $8.2 million in Q1 2024, marking a 35.5% increase[27] - Non-GAAP gross margin improved to 37.6% in Q1 2025, compared to 31.1% in Q1 2024, indicating a significant enhancement in profitability[27] Operating Expenses and Efficiency - Operating expenses declined by 39% to $27.5 million from $45.1 million in Q1 2024, driven by cost reduction initiatives[6] - Total operating expenses reduced to $27.5 million in Q1 2025, down from $45.1 million in Q1 2024, a decrease of 39.0%[27] - Research and development expenses decreased to $5.5 million in Q1 2025 from $12.6 million in Q1 2024, a decline of 56.4%[27] - Net cash used in operating activities declined by 44% from Q1 2024, indicating improved operational efficiency[8] - Net cash used in operating activities improved to $(25.7) million for the three months ended March 31, 2025, from $(45.9) million in the same period of 2024, a reduction of 44%[24] Net Loss and Financial Position - Net loss was $25.8 million, or ($3.66) per share, compared to a net loss of $39.9 million, or ($11.77) per share, in the same period in 2024[9] - GAAP net loss per share, diluted, decreased to $(3.66) for Q1 2025, compared to $(11.77) for Q1 2024, reflecting a 68.9% improvement[25] - Non-GAAP net loss per share, diluted, improved to $(3.24) in Q1 2025 from $(8.62) in Q1 2024, a reduction of 62.4%[25] Cash and Assets - Total cash, including restricted cash and short-term investments, was $192 million as of March 31, 2025[10] - Cash, cash equivalents, and restricted cash at the end of Q1 2025 totaled $79.3 million, compared to $35.5 million at the end of Q1 2024, an increase of 123.5%[24] - Total assets increased to $301.2 million as of March 31, 2025, compared to $275.8 million as of December 31, 2024, representing a growth of 9.2%[22] - Total liabilities decreased to $131.3 million as of March 31, 2025, down from $249.0 million as of December 31, 2024, a reduction of 47.3%[22] Product Milestones - The company shipped its 3 millionth Tablo treatment during the quarter, adding 1 million treatments over the past 12 months[8]