Outset Medical(US:OM) Globenewswire·2026-02-11 21:02Core Insights - Outset Medical, Inc. reported its financial results for Q4 and the full year 2025, highlighting a strong foundation for growth and a differentiated platform in the dialysis market [3][4]. Financial Performance - Q4 2025 revenue was $28.9 million, a decrease of 2% from $29.5 million in Q4 2024. Product revenue was $19.9 million, down from $21 million, while service and other revenue increased by 6% to $9 million [4][9]. - For the full year 2025, total revenue reached $119.5 million, a 5% increase from $113.7 million in 2024. Product revenue also grew by 5% to $84.8 million [9][10]. - Recurring revenue from Tablo consumables and services was $22.5 million in Q4 and grew 6% for the year to $88.7 million [4][9]. Profitability Metrics - Gross profit for Q4 was $12.2 million, up 14% from $10.7 million in Q4 2024, with a gross margin of 42.4%, compared to 36.5% in the prior year [5][11]. - The full year gross margin improved to 39.1%, up from 33.9% in 2024, with a non-GAAP gross margin of 39.6% [11][12]. Operating Expenses - Operating expenses in Q4 2025 were $29.9 million, an 8% decline from $32.6 million in Q4 2024, driven by cost reductions [6][12]. - For the full year, operating expenses totaled $113.5 million, down from $151.9 million in 2024 [12][13]. Net Loss - The net loss for Q4 was $19.5 million, an improvement from a net loss of $25.6 million in Q4 2024. On a non-GAAP basis, the net loss was $15.1 million compared to $19.3 million in the prior year [7][13]. - The full year net loss was $81.7 million, significantly reduced from $128 million in 2024, with a non-GAAP net loss of $65.4 million [13][14]. Cash Position - As of December 31, 2025, total cash, including restricted cash and short-term investments, was $173 million [8][28]. Future Guidance - For 2026, Outset provided revenue guidance of $125 million to $130 million, representing a 5% to 9% increase over 2025, with non-GAAP gross margin expected in the low to mid-40% range [14].