Outset Medical, Inc. Stock Price, News & Analysis

Outset Medical, Inc. (Nasdaq: OM) has appointed Andrea Saia to its board of directors, aiming to enhance its consumer focus and expand the home dialysis market. Saia, a global business leader with 40 years of experience, previously worked with major brands like Novartis and Procter & Gamble. CEO Leslie Trigg emphasized her expertise in the consumer health landscape as vital for Outset's growth. The company also announced that Ali Osman has stepped down from the board after contributing to its recent growth.

Outset Medical, Inc. (Nasdaq: OM) reported significant financial growth for the fourth quarter and full year ended December 31, 2020. Fourth-quarter revenue reached $17.2 million, a 143% increase year-over-year, while full-year revenue was $49.9 million, a 231% increase. Despite this growth, the company incurred a net loss of ($32.0) million in Q4 and ($79.3) million for the full year. Outset projects 2021 revenue between $89 million and $94 million, indicating a strong outlook with 78% to 88% anticipated growth over 2020.

Outset Medical, Inc. (Nasdaq: OM) will release its financial results for Q4 and the full year of 2020 on March 9, 2021, after market close. A conference call led by CEO Leslie Trigg and CFO Rebecca Chambers will discuss financial and operating results at 2:00 PM PT (5:00 PM ET). Investors can participate via phone or listen to a live and archived webcast on Outset's website. Outset is recognized for its Tablo Hemodialysis System, designed to streamline dialysis care and facilitate treatment at home or in clinics.

Outset Medical, Inc. (Nasdaq: OM) has appointed Karen Drexler to its board of directors, enhancing its leadership in the medtech field. Drexler, recognized as a top corporate director by Women Inc. magazine, brings valuable experience from notable companies like ResMed and Sandstone Diagnostics. Her expertise in data analytics and consumer-centric approaches aligns with Outset's strategies for its Tablo System, aimed at improving patient experiences in dialysis. Additionally, TJ Carella has stepped down from the board after a decade of impactful contributions.

Outset Medical, Inc. (Nasdaq: OM) announced an underwritten public offering of 4,000,000 shares at $53.00 per share, exclusively by certain stockholders. The underwriters also have a 30-day option for an additional 600,000 shares. Outset will not receive any proceeds from this offering, which is expected to close on December 7, 2020. BofA Securities, Morgan Stanley, and Goldman Sachs & Co. LLC are leading the offering.
This press release emphasizes Outset's innovative dialysis technology and future growth potential.

Outset Medical, Inc. (Nasdaq: OM) has announced the commencement of a proposed underwritten public offering of 4,000,000 shares by certain stockholders, with an option for underwriters to purchase an additional 600,000 shares. Outset is not selling any shares and will not receive proceeds from this offering, which is contingent on market conditions. BofA Securities, Morgan Stanley, and Goldman Sachs are leading the offering, with registration already filed but not yet effective. The Tablo Hemodialysis System positions Outset as a leader in reducing dialysis costs and complexity.

Outset Medical, Inc. (Nasdaq: OM) reported third-quarter 2020 net revenue of $13.8 million, marking a 423% increase from $2.6 million in Q3 2019. The company launched the Tablo device for home use and secured a second contract with the U.S. Health Department. However, net loss expanded to $42.3 million or $3.44 per share, compared to a loss of $16.7 million in the prior year. Operating expenses rose to $35.6 million, driven by increased R&D and marketing costs. Cash reserves totaled $377.5 million post-IPO, reflecting robust liquidity.

Outset Medical, Inc. (Nasdaq: OM) has appointed Steve Williamson as Chief Commercial Officer to lead its commercial and service organizations, enhancing adoption of the Tablo Hemodialysis System. Under Williamson's leadership, the company experiences meaningful growth in health systems and received FDA clearance for home use. With over two decades in the medical technology field, including significant revenue growth at BD, Williamson aims to reduce dialysis costs and complexity, improving patient experiences.

Outset Medical, Inc. (Nasdaq: OM) plans to release its third-quarter 2020 financial results on November 11, 2020, after the market closes. Following the release, CEO Leslie Trigg and CFO Rebecca Chambers will host a conference call at 2:00 PM PT (5:00 PM ET) to discuss the results. Outset is known for its innovative Tablo Hemodialysis System, designed to simplify dialysis processes and reduce costs. This technology has been FDA cleared for both hospital and home use, streamlining patient care significantly.