Outset Medical reports $14.69 million net loss for Q3 2026
- Form
- 10-Q
- Filed
- Importance
- Notable
- Accession
- 0001193125-26-447683
- Revenue of $33.6 million for the three months ended Sep 30, 2026
- Net loss of $14.69 million for the three months ended Sep 30, 2026
- Diluted EPS of -$0.78 for the three months ended Sep 30, 2026
- Cash and equivalents of $33.94 million as of Sep 30, 2026
Written from the 10-Q on EDGAR. AI can make mistakes. Check the filing.
The reading, claim by claim
- For the quarter, the financial statements show revenue of $33.6 million, a net loss of $14.7 million, and revenue up 14.2% from a year earlier.
- In the statements of operations, three-month total revenue was $33,596 thousand, made up of product revenue of $23,694 thousand and service and other revenue of $9,902 thousand.
- Gross profit was $13,671 thousand, and the loss from operations was $12,269 thousand.
- The year-earlier quarter showed a net loss of $17,838 thousand, or $(1.00) per share.
- For the nine months, the net loss was $51,648 thousand, or $(2.78) per share.
- On the balance sheet at September 30, 2026, cash and cash equivalents were $33,942 thousand and short-term investments were $102,685 thousand.
- Total assets were $230,409 thousand, the term loan was $98,368 thousand, and total stockholders' equity was $83,314 thousand.
7 of 8 claims matched the filing text.
Not found in the filing text
- At December 31, 2025, cash and cash equivalents were $35,006 thousand and total stockholders' equity was $126,952 thousand.
From the filing's financial data, not stated in its text
From this 10-Q's financial data (XBRL) for the quarter ended September 30, 2026
- The filing's XBRL data gives a gross margin of 40.7%.
From the filing
Item 1. Financial Statements (Unaudited).
).
Outset Medical, Inc.
| September 30, 2026 | December 31, 2025 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents6 | $633,9426 | $635,0066 |
| Short-term investments6 | 102,6856 | 133,9406 |
| Accounts receivable, net | 30,407 | 28,329 |
| Inventories | 44,989 | 47,609 |
| Prepaid expenses and other current assets | 4,200 | 5,999 |
| Total current assets | 216,223 | 250,883 |
| Restricted cash | 4,121 | 3,829 |
| Property and equipment, net | 3,541 | 4,670 |
| Operating lease right-of-use assets | 4,435 | 4,797 |
| Finance lease right-of-use assets | 1,642 | — |
| Other assets | 447 | 317 |
| Total assets7 | $7230,4097 | $7264,4967 |
| Liabilities and stockholders' equity | ||
| Current liabilities: | ||
| Accounts payable | $4,292 | $554 |
| Accrued compensation and related benefits | 9,965 | 10,735 |
| Accrued expenses and other current liabilities | 13,349 | 9,433 |
| Accrued warranty liability | 1,023 | 1,374 |
| Deferred revenue, current | 13,468 | 13,795 |
| Operating lease liabilities, current | 1,755 | 1,739 |
| Finance lease liabilities, current | 601 | — |
| Total current liabilities | 44,453 | 37,630 |
| Deferred revenue | 221 | 406 |
| Operating lease liabilities | 2,985 | 3,271 |
| Finance lease liabilities | 1,068 | - |
| Term loan7 | 98,3687 | 96,2377 |
| Total liabilities | 147,095 | 137,544 |
| Commitments and contingencies (Note 6) | ||
| Stockholders' equity: | ||
| Preferred Stock, $0.001 par value; 5,000 shares authorized, and no shares issued and outstanding as of September 30, 2026 and December 31, 2025 | — | — |
| Common stock, $0.001 par value; 300,000 shares authorized as of September 30, 2026 and December 31, 2025; 18,873 and 18,169 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively | 19 | 18 |
| Additional paid-in capital | 1,306,563 | 1,298,138 |
| Accumulated other comprehensive (loss) income | (244) | 172 |
| Accumulated deficit | (1,223,024) | (1,171,376) |
| Total stockholders' equity7 | 83,3147 | 126,9527 |
| Total liabilities and stockholders' equity | $230,409 | $264,496 |
The accompanying notes are an integral part of these unaudited condensed financial statements.
Outset Medical, Inc.
Condensed Statements of Operations
| Three Months Ended | Nine Months Ended | |||
|---|---|---|---|---|
| September 30, 2026 | September 30, 2025 | 2026 | 2025 | |
| Revenue: | ||||
| Product revenue2 | $223,6942 | $220,5582 | $264,1522 | $264,9342 |
| Service and other revenue2 | 9,9022 | 8,8732 | 28,9422 | 25,6682 |
| Total revenue1 | 33,5961 | 29,4312 | 93,0942 | 90,6022 |
| Cost of revenue: | ||||
| Cost of product revenue | 13,233 | 11,169 | 33,865 | 33,962 |
| Cost of service and other revenue | 6,692 | 6,672 | 20,181 | 22,117 |
| Total cost of revenue | 19,925 | 17,841 | 54,046 | 56,079 |
| Gross profit3 | 13,6713 | 11,5903 | 39,0483 | 34,5233 |
| Operating expenses: | ||||
| Research and development | 5,898 | 5,376 | 16,966 | 16,180 |
| Sales and marketing | 11,736 | 13,550 | 37,167 | 41,482 |
| General and administrative | 8,306 | 8,477 | 29,779 | 25,938 |
| Total operating expenses | 25,940 | 27,403 | 83,912 | 83,600 |
| Loss from operations3 | (12,2693)3 | (15,8133)3 | (44,8643)3 | (49,0773)3 |
| Interest income and other income, net | 1,241 | 1,855 | 4,122 | 5,734 |
| Interest expense | (3,505) | (3,476) | (10,316) | (10,511) |
| Loss on extinguishment of term loan | — | — | — | (7,685) |
| Loss before provision for income taxes | (14,533) | (17,434) | (51,058) | (61,539) |
| Provision for income taxes | 153 | 404 | 590 | 623 |
| Net loss4 | $4(14,6864)4 | $4(17,8384)4 | $4(51,6484)4 | $4(62,1624)4 |
| Net loss per share, basic and diluted4 | $4(0.784)4 | $4(1.004)4 | $5(2.785)5 | $5(4.375)5 |
| Shares used in computing net loss per share, basic and diluted | 18,831 | 17,783 | 18,609 | 14,228 |
The accompanying notes are an integral part of these unaudited condensed financial statements.
Outset Medical, Inc.
Condensed Statements of Comprehensive Loss
| Three Months Ended | Nine Months Ended | |||
|---|---|---|---|---|
| September 30, 2026 | September 30, 2025 | 2026 | 2025 | |
| Net loss | $(14,686) | $(17,838) | $(51,648) | $(62,162) |
| Other comprehensive income: | ||||
| Unrealized (loss) gain on available-for-sale securities | (108) | 108 | (416) | 115 |
| Comprehensive loss | $(14,794) | $(17,730) | $(52,064) | $(62,047) |
The accompanying notes are an integral part of these unaudited condensed financial statements.
Outset Medical, Inc.
Condensed Statements of Convertible Preferred Stock and Stockholders' Equity
(Unaudited) (in thousands)
Convertible Preferred Stock
Common Stock
Additional
Paid-in
Accumulated
Other
Comprehensive
Accumulated
Total
Stockholders'
Shares
Amount
Shares
Amount
Capital
Income (Loss)
Deficit
Equity
| Balance as of December 31, 2025 | ||||||||
|---|---|---|---|---|---|---|---|---|
| — | $— | 18,169 | $18 | $1,298,138 | $172 | $(1,171,376) | $126,952 | |
| Issuance of common stock through employee stock purchase plan | — | — | 170 | — | 506 | — | — | 506 |
| Issuance of common stock for settlement of RSUs | — | — | 190 | — | — | — | — | — |
| Stock-based compensation expense | — | — | — | — | 3,453 | — | — | 3,453 |
| Unrealized loss on available-for-sale securities | — | — | — | — | — | (245) | — | (245) |
| Net loss | — | — | — | — | — | — | (18,978) | (18,978) |
| Balance as of March 31, 2026 | ||||||||
|---|---|---|---|---|---|---|---|---|
| — | $— | 18,529 | $18 | $1,302,097 | $(73) | $(1,190,354) | $111,688 | |
| Issuance of common stock for settlement of RSUs | — | — | 268 | 1 | (1) | — | — | — |
| Stock-based compensation expense | — | — | — | — | 2,696 | — | — | 2,696 |
| Unrealized loss on available-for-sale securities | — | — | — | — | — | (63) | — | (63) |
| Net loss | — | — | — | — | — | — | (17,984) | (17,984) |
| Balance as of June 30, 2026 | ||||||||
|---|---|---|---|---|---|---|---|---|
| — | $— | 18,797 | $19 | $1,304,792 | $(136) | $(1,208,338) | $96,337 | |
| Issuance of common stock through employee stock purchase plan | — | — | 28 | — | 83 | — | — | 83 |
| Issuance of common stock for settlement of RSUs | — | — | 48 | — | — | — | — | — |
| Stock-based compensation expense | — | — | — | — | 1,688 | — | — | 1,688 |
| Unrealized loss on available-for-sale securities | — | — | — | — | — | (108) | — | (108) |
| Net loss | — | — | — | — | — | — | (14,686) | (14,686) |
Balance as of September 30, 2026
—
$
—
18,873
$
$
1,306,563
$
( 244
)
$
( 1,223,024
)
$
83,314
The accompanying notes are an integral part of these unaudited condensed financial statements.
Outset Medical, Inc.
Condensed Statements of Convertible Preferred Stock and Stockholders' Equity
(Unaudited) (in thousands)
Convertible Series A Preferred Stock
Common Stock
Additional
Paid-in
Accumulated
Other
Comprehensive
Accumulated
Total
Stockholders'
Shares
Amount
Shares
Amount
Capital
Income (Loss)
Defic
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