Outset Medical(US:OM)2025-11-10 21:05Revenue Performance - Revenue for Q3 2025 was $29.4 million, a 3% increase from $28.7 million in Q3 2024[6] - Product revenue was $20.6 million, compared to $20.3 million in Q3 2024, while service and other revenue increased by 6% to $8.9 million[6] - Recurring revenue from Tablo consumables and services was $21.1 million, slightly up from the prior-year period[10] Profitability - Gross profit reached $11.6 million, an 18% increase from $9.8 million in Q3 2024, with a gross margin of 39.4%[7] - For the three months ended September 30, 2025, total gross profit was $11,590,000, representing a 17.9% increase from $9,820,000 in the same period of 2024[22] - The gross margin for product revenue improved to 45.7% in Q3 2025 from 43.2% in Q3 2024, while total gross margin increased to 39.4% from 34.3%[22] Expenses and Losses - Operating expenses declined by 19% to $27.4 million from $33.7 million in Q3 2024, driven by cost reduction efforts[8] - Net loss for Q3 2025 was $17.8 million, an improvement from a net loss of $27.9 million in the same period last year[9] - Stock-based compensation expense for the nine months ended September 30, 2025, totaled $11,553,000, down from $24,411,000 in the same period of 2024[22] - The company reported a GAAP net loss of $17,838,000 for Q3 2025, compared to a net loss of $27,940,000 in Q3 2024[28] - Non-GAAP net loss per share, diluted, was $(0.69) for Q3 2025, an improvement from $(5.80) in Q3 2024[27] Cash and Investments - Total cash and short-term investments as of September 30, 2025, was $182 million[11] - Cash and cash equivalents decreased to $36,437,000 as of September 30, 2025, from $124,014,000 as of December 31, 2024[24] - The company experienced a net cash used in operating activities of $(36,806,000) for the nine months ended September 30, 2025, compared to $(99,815,000) in the same period of 2024[26] - Total current assets as of September 30, 2025, were $265,367,000, slightly up from $258,221,000 as of December 31, 2024[24] - The total cash, including restricted cash, cash equivalents, and investment securities as of September 30, 2025, was $182,000,000, compared to $179,000,000 as of September 30, 2024[26] Guidance and Outlook - The company revised its 2025 revenue guidance to a range of $115 million to $120 million, down from $122 million to $126 million[4] - Non-GAAP gross margin guidance remains unchanged, expected to be in the high-30% range for 2025[12] - The company anticipates using less than $50 million of cash in 2025, compared to over $100 million in 2024[4] Liabilities - Total liabilities decreased to $134,890,000 as of September 30, 2025, from $248,976,000 as of December 31, 2024[24]