Outset Medical, Inc. Financials
This page shows Outset Medical, Inc. (OM) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Outset Medical, Inc. has an operating margin of 78.7%, meaning the company retains $79 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from -99.7% the prior year.
Outset Medical, Inc.'s revenue declined 99.9% year-over-year, from $113.7M to $85K. This contraction results in a growth score of 0/100.
Outset Medical, Inc. carries a low D/E ratio of 0.76, meaning only $0.76 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 83/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 6.67, Outset Medical, Inc. holds $6.67 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Outset Medical, Inc. converts 53.7% of revenue into free cash flow ($46K). This strong cash generation earns a score of 100/100.
Outset Medical, Inc. earns a strong 64.3% return on equity (ROE), meaning it generates $64 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100.
Outset Medical, Inc. scores 279.11, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($62.1M) relative to total liabilities ($138K). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Outset Medical, Inc. passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Outset Medical, Inc. generates $0.57 in operating cash flow ($46K OCF vs $82K net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Outset Medical, Inc. earns $4.8 in operating income for every $1 of interest expense ($67K vs $14K). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Outset Medical, Inc. generated $85K in revenue in fiscal year 2025. This represents a decrease of 99.9% from the prior year.
Outset Medical, Inc.'s EBITDA was $71K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 100.1% from the prior year.
Outset Medical, Inc. generated $46K in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 100.0% from the prior year.
Outset Medical, Inc. reported $82K in net income in fiscal year 2025. This represents an increase of 100.1% from the prior year.
Outset Medical, Inc. earned $5.37 per diluted share (EPS) in fiscal year 2025. This represents an increase of 114.5% from the prior year.
Outset Medical, Inc. held $35K in cash against $96K in long-term debt as of fiscal year 2025.
Outset Medical, Inc. had 18M shares outstanding in fiscal year 2025. This represents an increase of 418.7% from the prior year.
Outset Medical, Inc.'s gross margin was 55.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 21.2 percentage points from the prior year.
Outset Medical, Inc.'s operating margin was 78.7% in fiscal year 2025, reflecting core business profitability. This is up 178.4 percentage points from the prior year.
Outset Medical, Inc.'s net profit margin was 96.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 208.8 percentage points from the prior year.
Outset Medical, Inc.'s ROE was 64.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Outset Medical, Inc. invested $21K in research and development in fiscal year 2025. This represents a decrease of 99.9% from the prior year.
Outset Medical, Inc. invested $798 in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 99.9% from the prior year.
OM Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $28.9M-1.9% | $29.4M-6.3% | $31.4M+5.6% | $29.8M+1.0% | $29.5M+2.8% | $28.7M+4.7% | $27.4M-2.8% | $28.2M |
| Cost of Revenue | $16.6M-6.7% | $17.8M-8.8% | $19.6M+4.6% | $18.7M-0.2% | $18.7M-0.7% | $18.8M+7.0% | $17.6M-11.8% | $20.0M |
| Gross Profit | $12.2M+5.5% | $11.6M-2.3% | $11.9M+7.2% | $11.1M+3.0% | $10.7M+9.4% | $9.8M+0.4% | $9.8M+19.1% | $8.2M |
| R&D Expenses | $5.1M-6.0% | $5.4M+1.6% | $5.3M-4.1% | $5.5M-30.1% | $7.9M-3.1% | $8.1M-16.4% | $9.7M-23.0% | $12.6M |
| SG&A Expenses | $11.9M+40.7% | $8.5M-7.5% | $9.2M+10.4% | $8.3M-10.5% | $9.3M-8.3% | $10.1M-20.3% | $12.7M+10.8% | $11.4M |
| Operating Income | -$17.6M-11.5% | -$15.8M+6.2% | -$16.9M-2.8% | -$16.4M+25.0% | -$21.9M+8.3% | -$23.8M+22.5% | -$30.8M+16.7% | -$36.9M |
| Interest Expense | $3.4M-1.0% | $3.5M0.0% | $3.5M-2.4% | $3.6M-38.9% | $5.8M-4.0% | $6.1M+1.0% | $6.0M+0.7% | $6.0M |
| Income Tax | $95K-76.5% | $404K+288.5% | $104K-9.6% | $115K+2975.0% | -$4K-102.2% | $182K+20.5% | $151K-6.8% | $162K |
| Net Income | -$19.5M-9.3% | -$17.8M+3.8% | -$18.5M+28.1% | -$25.8M-0.6% | -$25.6M+8.2% | -$27.9M+18.9% | -$34.5M+13.7% | -$39.9M |
| EPS (Diluted) | $0.33+133.0% | $-1.00+3.8% | $-1.04+71.6% | $-3.66 | $-7.21 | $-8.02+19.5% | $-9.96+15.4% | $-11.77 |
OM Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $264.5M-4.6% | $277.3M-4.0% | $288.8M-4.1% | $301.2M+9.2% | $275.8M-5.8% | $292.9M-6.9% | $314.5M-9.2% | $346.2M |
| Current Assets | $250.9M-5.5% | $265.4M-3.7% | $275.6M-3.8% | $286.6M+11.0% | $258.2M-6.2% | $275.3M-6.7% | $295.1M-9.3% | $325.4M |
| Cash & Equivalents | $35.0M-3.9% | $36.4M-7.9% | $39.6M-47.9% | $75.9M-38.8% | $124.0M+272.6% | $33.3M-12.1% | $37.9M+17.7% | $32.2M |
| Inventory | $47.6M-3.4% | $49.3M-5.7% | $52.2M-6.3% | $55.8M-6.1% | $59.4M-3.3% | $61.4M-0.3% | $61.6M+10.3% | $55.8M |
| Accounts Receivable | $28.3M-14.1% | $33.0M-5.5% | $34.9M-5.4% | $36.9M+3.6% | $35.6M+4.0% | $34.3M+0.4% | $34.1M-6.5% | $36.5M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $137.5M+2.0% | $134.9M+0.7% | $134.0M+2.0% | $131.3M-47.2% | $249.0M+1.6% | $245.1M-0.4% | $245.9M-2.8% | $253.0M |
| Current Liabilities | $37.6M+0.5% | $37.4M+1.5% | $36.9M+7.8% | $34.2M-24.6% | $45.4M+6.9% | $42.4M-2.3% | $43.4M-14.3% | $50.7M |
| Long-Term Debt | $96.2M+0.7% | $95.5M+0.7% | $94.8M+0.7% | $94.1M-52.3% | $197.4M+0.1% | $197.2M+0.1% | $197.0M+0.1% | $196.8M |
| Total Equity | $127.0M-10.8% | $142.4M-8.0% | $154.8M-8.9% | $169.9M+533.4% | $26.8M-43.9% | $47.8M-30.3% | $68.6M-26.4% | $93.2M |
| Retained Earnings | -$1.2B-1.7% | -$1.2B-1.6% | -$1.1B-1.7% | -$1.1B-2.4% | -$1.1B-2.4% | -$1.1B-2.7% | -$1.0B-3.4% | -$1.0B |
OM Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$9.5M-50.6% | -$6.3M-31.0% | -$4.8M+81.2% | -$25.7M-55.6% | -$16.5M+19.8% | -$20.6M+38.3% | -$33.3M+27.4% | -$45.9M |
| Capital Expenditures | $223K+39.4% | $160K-45.2% | $292K+137.4% | $123K+186.0% | $43K-89.1% | $395K+229.2% | $120K-66.1% | $354K |
| Free Cash Flow | -$9.7M-50.4% | -$6.5M-26.7% | -$5.1M+80.2% | -$25.8M-56.0% | -$16.5M+21.1% | -$21.0M+37.3% | -$33.5M+27.7% | -$46.3M |
| Investing Cash Flow | $8.6M+189.5% | $3.0M+109.5% | -$31.2M+60.1% | -$78.1M-172.2% | $108.2M+581.3% | $15.9M-59.2% | $38.9M+166.0% | -$59.0M |
| Financing Cash Flow | $0-100.0% | $231K+160.2% | -$384K-100.7% | $55.7M+6033.5% | -$938K-875.2% | $121K+57.1% | $77K-99.9% | $68.6M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
OM Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 42.4%+3.0pp | 39.4%+1.6pp | 37.8%+0.6pp | 37.2%+0.7pp | 36.5%+2.2pp | 34.3%-1.5pp | 35.7%+6.6pp | 29.2% |
| Operating Margin | -61.1%-7.3pp | -53.7%-0.0pp | -53.7%+1.4pp | -55.1%+19.1pp | -74.2%+9.0pp | -83.2%+29.2pp | -112.3%+18.7pp | -131.0% |
| Net Margin | -67.5%-6.9pp | -60.6%-1.6pp | -59.0%+27.7pp | -86.7%+0.3pp | -87.0%+10.5pp | -97.5%+28.3pp | -125.8%+16.0pp | -141.8% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -7.4%-0.9pp | -6.4%-0.0pp | -6.4%+2.1pp | -8.6%+0.7pp | -9.3%+0.2pp | -9.5%+1.4pp | -10.9%+0.6pp | -11.5% |
| Current Ratio | 6.67-0.4 | 7.09-0.4 | 7.47-0.9 | 8.37+2.7 | 5.69-0.8 | 6.49-0.3 | 6.80+0.4 | 6.42 |
| Debt-to-Equity | 0.76+0.1 | 0.67+0.1 | 0.61+0.1 | 0.55-6.8 | 7.36+3.2 | 4.12+1.3 | 2.87+0.8 | 2.11 |
| FCF Margin | -33.8%-11.7pp | -22.0%-5.7pp | -16.3%+70.4pp | -86.7%-30.6pp | -56.1%+17.0pp | -73.1%+49.0pp | -122.2%+42.1pp | -164.3% |
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Frequently Asked Questions
What is Outset Medical, Inc.'s annual revenue?
Outset Medical, Inc. (OM) reported $85K in total revenue for fiscal year 2025. This represents a -99.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Outset Medical, Inc.'s revenue growing?
Outset Medical, Inc. (OM) revenue declined by 99.9% year-over-year, from $113.7M to $85K in fiscal year 2025.
Is Outset Medical, Inc. profitable?
Yes, Outset Medical, Inc. (OM) reported a net income of $82K in fiscal year 2025, with a net profit margin of 96.3%.
What is Outset Medical, Inc.'s earnings per share (EPS)?
Outset Medical, Inc. (OM) reported diluted earnings per share of $5.37 for fiscal year 2025. This represents a 114.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Outset Medical, Inc.'s EBITDA?
Outset Medical, Inc. (OM) had EBITDA of $71K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Outset Medical, Inc. have?
As of fiscal year 2025, Outset Medical, Inc. (OM) had $35K in cash and equivalents against $96K in long-term debt.
What is Outset Medical, Inc.'s gross margin?
Outset Medical, Inc. (OM) had a gross margin of 55.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Outset Medical, Inc.'s operating margin?
Outset Medical, Inc. (OM) had an operating margin of 78.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Outset Medical, Inc.'s net profit margin?
Outset Medical, Inc. (OM) had a net profit margin of 96.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Outset Medical, Inc.'s return on equity (ROE)?
Outset Medical, Inc. (OM) has a return on equity of 64.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Outset Medical, Inc.'s free cash flow?
Outset Medical, Inc. (OM) generated $46K in free cash flow during fiscal year 2025. This represents a 100.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Outset Medical, Inc.'s operating cash flow?
Outset Medical, Inc. (OM) generated $46K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Outset Medical, Inc.'s total assets?
Outset Medical, Inc. (OM) had $264K in total assets as of fiscal year 2025, including both current and long-term assets.
What are Outset Medical, Inc.'s capital expenditures?
Outset Medical, Inc. (OM) invested $798 in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Outset Medical, Inc. spend on research and development?
Outset Medical, Inc. (OM) invested $21K in research and development during fiscal year 2025.
How many shares does Outset Medical, Inc. have outstanding?
Outset Medical, Inc. (OM) had 18M shares outstanding as of fiscal year 2025.
What is Outset Medical, Inc.'s current ratio?
Outset Medical, Inc. (OM) had a current ratio of 6.67 as of fiscal year 2025, which is generally considered healthy.
What is Outset Medical, Inc.'s debt-to-equity ratio?
Outset Medical, Inc. (OM) had a debt-to-equity ratio of 0.76 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Outset Medical, Inc.'s return on assets (ROA)?
Outset Medical, Inc. (OM) had a return on assets of 30.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Outset Medical, Inc.'s Altman Z-Score?
Outset Medical, Inc. (OM) has an Altman Z-Score of 279.11, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Outset Medical, Inc.'s Piotroski F-Score?
Outset Medical, Inc. (OM) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Outset Medical, Inc.'s earnings high quality?
Outset Medical, Inc. (OM) has an earnings quality ratio of 0.57x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Outset Medical, Inc. cover its interest payments?
Outset Medical, Inc. (OM) has an interest coverage ratio of 4.8x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Outset Medical, Inc.?
Outset Medical, Inc. (OM) scores 81 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.