Outset Medical Reports Unaudited Fourth Quarter and 2025 Results
Rhea-AI Summary
Outset Medical (Nasdaq: OM) reported unaudited revenue of $28.9M for Q4 and $119.5M for full-year 2025, a 5% increase versus $113.7M in 2024. The company said more than 1,000 care sites have insourced dialysis on Tablo, performing roughly 1M treatments per year and >3M cumulative treatments. Year-end cash and short-term investments totaled $173M. Net cash used in operations for 2025 was reported as below $50M versus $116M in 2024. Outset announced a board appointment: Karen N. Prange joins the board and Compensation Committee, replacing Andrea Saia. Management cited a strong backlog and growing pipeline entering 2026.
Positive
- Net cash used in operations improved from $116M in 2024 to below $50M in 2025
- Year-end cash, restricted cash and short-term investments totaled $173M
- Operational scale: >1,000 sites using Tablo and ~1M treatments performed per year
Negative
- None.
News Market Reaction
On the day this news was published, OM gained 22.15%, reflecting a significant positive market reaction. Argus tracked a peak move of +37.7% during that session. Our momentum scanner triggered 20 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $20M to the company's valuation, bringing the market cap to $110M at that time. Trading volume was exceptionally heavy at 9.0x the daily average, suggesting very strong buying interest.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
OM was down 2.36% pre-news while close peers showed mixed moves, from +39.91% (BSGM) to modest gains/losses (CATX, NNOX, QSI, VMD). Peer_momentum data flags no coordinated sector move, suggesting OM’s action was more stock-specific.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 05 | Conference presentation | Positive | +2.7% | J.P. Morgan Healthcare Conference presentation announcement and webcast access. |
| Nov 10 | Quarterly results | Negative | +0.1% | Q3 2025 results with revenue growth but lowered full-year revenue guidance. |
| Nov 05 | Clinical outcomes data | Positive | -6.0% | New research showing improved outcomes and ROI from Tablo-based insourced dialysis. |
| Nov 05 | Conference participation | Neutral | -1.6% | Announcement of participation in the 2025 Stifel Healthcare Conference. |
| Oct 27 | Earnings scheduling | Neutral | -1.2% | Notice of upcoming Q3 2025 earnings release and conference call details. |
Recent news often saw price moves that did not clearly track headline tone, with several positive or neutral items followed by negative reactions.
Over the last few months, OM news has centered on conferences, Q3 2025 results, and clinical data around its Tablo platform. The Q3 2025 report showed modest revenue growth and narrower losses but included reduced full-year revenue guidance. Clinical research highlighted strong outcome improvements for insourced dialysis programs. Several conference-related announcements had limited or negative price follow-through. Today’s unaudited 2025 revenue growth and reduced cash burn continue the narrative of gradual operational progress.
Market Pulse Summary
The stock surged +22.1% in the session following this news. A strong positive reaction aligns with unaudited 2025 results showing revenue of $119.5 million, modestly above 2024, and year-end liquidity of $173 million. Cash use in operations falling below $50 million versus $116 million in 2024 supports an improving cash-burn profile. Investors would still need to weigh prior financing steps and execution risks against these improving fundamentals when assessing durability of any sharp upside move.
AI-generated analysis. Not financial advice.
Appoints Medical Technology Veteran Karen N. Prange to Board of Directors
SAN JOSE, Jan. 12, 2026 (GLOBE NEWSWIRE) -- Outset Medical, Inc. (Nasdaq: OM), a medical technology company pioneering a first-of-its-kind technology to reduce the cost and complexity of dialysis, today reported unaudited revenue for the fourth quarter and fiscal year ended December 31, 2025, and named Karen N. Prange to its board of directors.
Unaudited Fourth Quarter and 2025 Results
- Revenue in the fourth quarter totaled approximately
$28.9 million , bringing revenue for 2025 to approximately$119.5 million , a5% increase over$113.7 million in 2024. - Exiting 2025, more than 1,000 sites of care have insourced dialysis with Outset, performing roughly 1 million treatments per year and more than 3 million cumulative treatments on Tablo.
- Year-end cash, including restricted cash, cash equivalents and short-term investments, totaled
$173 million . Net cash used in operations in 2025 was below$50 million compared to$116 million in 2024.
“We enter 2026 with a strong backlog, a growing pipeline of new opportunities and a great deal of confidence that the value we deliver for providers and dialysis patients can continue to fuel Outset’s growth for many years to come,” said Leslie Trigg, Chair and Chief Executive Officer. “In 2026, we look forward to building on our innovation track record by delivering new services and technologies that continue to improve patient care outcomes with lower cost and less complexity than traditional dialysis.”
Karen Prange Joins Outset Board
The company also announced the appointment of Karen Prange to its board of directors and its Compensation Committee, replacing Andrea Saia who served on the board since March of 2021.
Ms. Prange currently serves on the boards of AtriCure, Embecta and privately held WS Audiology, in addition to being a Senior Advisor to EQT Group. She previously served on the boards of Cantel Medical, Nevro and ViewRay. In her most recent operating role, she was Executive Vice President and CEO for the
Ms. Trigg said: “Karen brings deep commercial operating experience to our board, with a strong background in sales and go-to-market strategy in the acute-care setting. We are pleased to add an executive of her caliber to our board as we embark on a new year with many exciting opportunities for growth. And on behalf of the entire board, I would like to thank Andrea for her years of service to Outset. Her unique blend of med tech and consumer brand experience were so important to our early success, and we are grateful for her many contributions.”
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements are based on management’s current assumptions and expectations of future events and trends, which affect or may affect the Company’s business, strategy, operations or financial performance, and actual results and other events may differ materially from those expressed or implied in such statements due to numerous risks and uncertainties. Forward-looking statements include, but are not limited to, statements about the Company’s unaudited results of operations, including fourth quarter and full year 2025 revenue, year-end cash position and Tablo console shipments, statements about the Company’s possible or assumed future results of operations and financial position, including expectations regarding projected revenues, recurring revenues, gross margin, operating expenses, capital expenditures, cash use, cash burn, cash position, profitability and outlook; statements about the sufficiency of the Company’s cash balances through cashflow breakeven; statements regarding the anticipated impacts and benefits of the Company’s cost reduction actions, initiatives to optimize the commercial organization and improve forecasting and order visibility, and restructurings; statements regarding the Company’s overall business strategy, plans and objectives of management including expectations regarding new services, technologies and offerings; the Company’s expectations regarding the market sizes and growth potential for Tablo and the total addressable market opportunities for Tablo; continued execution of the Company’s initiatives designed to expand gross margins; the Company’s ability to respond to and resolve any reports, observations or other actions by the Food and Drug Administration or other regulators in a timely and effective manner; as well as the Company’s expectations regarding the impact of macroeconomic factors (including changes in tariff or trade laws and policies) on the Company, its customers and suppliers. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Factors that could cause actual results or other events to differ materially from those contemplated in this press release can be found in the Risk Factors section of the Company’s public filings with the Securities and Exchange Commission, including its latest annual and quarterly reports. Because forward-looking statements are inherently subject to risks and uncertainties, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements speak only as of their date and, except to the extent required by law, the Company undertakes no obligation to update these statements, whether as a result of any new information, future developments or otherwise.
Certain financial information contained in this press release is preliminary, unaudited, and subject to change or adjustment in connection with the completion of the Company’s quarter and year-end closing processes and the preparation of its audited financial statements for the fiscal quarter and year ended December 31, 2025, which will be contained in the Company’s related Annual Report on Form 10-K.
About Outset Medical, Inc.
Outset is a medical technology company transforming the dialysis experience across the continuum of care with a first-of-its-kind technology. The Tablo® Hemodialysis System, FDA-cleared for use from hospital to home, is trusted by more than 1,000 U.S. healthcare facilities and has enabled millions of treatments delivered by thousands of nurses. Designed to reduce the cost and complexity of dialysis, Tablo combines water purification and on-demand dialysate production into a single, integrated system that connects seamlessly with Electronic Medical Record systems and a proprietary data analytics platform. This enterprise solution empowers providers to develop an in-house dialysis program where they are in control – enabling better operational, clinical, and financial outcomes. Outset is redefining what’s possible in kidney care through innovation, scale, and a relentless commitment to improving the lives of patients and the professionals who care for them. For more information, visit www.outsetmedical.com.
Investor Contact
Jim Mazzola
jmazzola@outsetmedical.com
FAQ
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