Outset Medical, Inc.(OM)

$5.08▲0.36 (7.63%)

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Outset Medical, Inc.(OM)

NASDAQ

$5.08▲0.36 (7.63%)

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OM(OM)

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7/6/26

OUTSET MEDICAL (OM)

Monday

10:30 PM

Thesis: Outset Medical: the story is balanced — Tablo console placement numbers and installed base growth - quarterly unit sales indicate market penetration velocity

Revenue Outlook

Metric	FY2025	FY2026E	FY2027E
Revenue	$119M	$127M	$140M
Rev. Growth	+5.1%	+6.0%	+10.9%
EPS	$-5.37	$-2.89	$-2.18
EPS Growth	+85.5%	+46.1%	+24.7%
P/E	—	—	—

★ Analysts see FY2027 revenue reaching $140M — +10.9% growth in a single year.

What Moves the Stock

1Tablo console placement numbers and installed base growth - quarterly unit sales indicate market penetration velocity
2Cartridge utilization rates and recurring revenue trajectory - demonstrates stickiness and treatment volume per console
3Gross margin trends - indicates pricing power, manufacturing efficiency, and product mix shift toward higher-margin consumables
4Cash burn rate and runway - with negative FCF of $76M annually, quarterly cash consumption and financing needs drive equity dilution concerns
5Regulatory milestones and reimbursement decisions - CMS coverage policies and FDA clearances for home use would be major catalysts
6Tablo console sales (capital equipment) - estimated 40-50% of revenue, one-time sales to hospitals and dialysis centers
7Tablo cartridge sales (consumables) - estimated 40-50% of revenue, recurring revenue per treatment with higher gross margins
8Service and other revenue - estimated 5-10%, including maintenance contracts and accessories

FY2025 Snapshot

Revenue: $119M
Rev. Growth: +5.1%
Gross Margin: 39.1%
Op. Margin: -55.8%
Net Margin: -68.3%
Net Income: $-82M
NI Growth: +36.2%
EPS: $-5.37
1Y Return: -77.2%

OM Chart

My Notes

growth/speculative - Outset attracts high-risk tolerance investors seeking asymmetric upside from medical device innovation.
Rising interest rates negatively impact Outset through multiple channels: (1) Higher discount rates compress valuation multiples…
Watch on earnings: Quarterly Tablo console placements and cumulative installed base, Cartridge revenue per console (utilization proxy), Gross margin percentage and trajectory toward 50%+ target.

One Sentence Summary:

Outset Medical: the story is balanced — tablo console placement numbers and installed base growth - quarterly unit sales indicate market penetration velocity.

Auto-composed from Stock Alarm intelligence, financial statements, and analyst estimates. Not investment advice.

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Metric

FY2025

FY2026E

FY2027E

P/E

—

What Moves the Stock

1Tablo console placement numbers and installed base growth - quarterly unit sales indicate market penetration velocity

2Cartridge utilization rates and recurring revenue trajectory - demonstrates stickiness and treatment volume per console

3Gross margin trends - indicates pricing power, manufacturing efficiency, and product mix shift toward higher-margin consumables

4Cash burn rate and runway - with negative FCF of $76M annually, quarterly cash consumption and financing needs drive equity dilution concerns

5Regulatory milestones and reimbursement decisions - CMS coverage policies and FDA clearances for home use would be major catalysts

6Tablo console sales (capital equipment) - estimated 40-50% of revenue, one-time sales to hospitals and dialysis centers

7Tablo cartridge sales (consumables) - estimated 40-50% of revenue, recurring revenue per treatment with higher gross margins

8Service and other revenue - estimated 5-10%, including maintenance contracts and accessories

My Notes

growth/speculative - Outset attracts high-risk tolerance investors seeking asymmetric upside from medical device innovation.

Rising interest rates negatively impact Outset through multiple channels: (1) Higher discount rates compress valuation multiples…

Watch on earnings: Quarterly Tablo console placements and cumulative installed base, Cartridge revenue per console (utilization proxy), Gross margin percentage and trajectory toward 50%+ target.