Outset Medical, Inc. Stock Price, News & Analysis

Outset Medical, Inc. (NASDAQ: OM) has secured a national contract with the United States Department of Veterans Affairs to enhance the availability of its Tablo® Hemodialysis System in 106 VA hospitals across the U.S. This five-year contract allows for indefinite quantities of Tablo units to provide advanced dialysis care, benefiting 35,000 veterans. The Tablo system, FDA-cleared, supports at-home and acute care, featuring two-way cloud communication for patient monitoring, thus transforming the dialysis experience.

Outset Medical, Inc. (Nasdaq: OM) announces FDA clearance for the Tablo® Hemodialysis System and resumes shipments for home use, reflecting a commitment to patient autonomy in dialysis.

For Q2 2022, revenue reached $25.1 million, matching prior guidance, with gross margin improving to 15.1% compared to 4.2% in Q2 2021. However, operating expenses rose to $47.5 million, contributing to a net loss of ($43.8) million.

Full-year guidance projects revenue between $105 million and $110 million, indicating modest growth over 2021.

Outset Medical, Inc. (NASDAQ: OM) announced a shipment hold on its Tablo Hemodialysis System for home use, pending FDA review of a 510(k) submission for updates since its original March 2020 clearance. The company reports no safety issues with Tablo and will continue marketing it for healthcare professionals. Revised revenue expectations for the second quarter of 2022 are now at least $25 million. An update on the regulatory review is anticipated in Q3, with specifics on 2022 financial goals coming in early August.

Outset Medical, Inc. (Nasdaq: OM) has announced management participation in two investor conferences. The UBS Global Healthcare Conference will take place on May 24, 2022, at 4:45am PT, while the Goldman Sachs 43rd Annual Global Healthcare Conference is set for June 14, 2022, at 3:20pm PT. A live and archived webcast of these fireside chats will be available on Outset's investor website. Outset continues to innovate with its Tablo Hemodialysis System, designed to enhance dialysis care accessibility and efficiency.

Outset Medical, Inc. (Nasdaq: OM) announces a virtual webinar on the Tablo® Hemodialysis System for home dialysis, taking place on June 1, 2022, at 1:00 PM PT / 4:00 PM ET. The event features discussions between patients and nephrologists, moderated by Michael Aragon, MD. It aims to share patient experiences and the journey of home dialysis. Attendees can register here. An archived version will be available on Outset's website.

Outset Medical reported a remarkable 33.3% revenue growth in Q1 2022, reaching $30.6 million compared to $22.9 million in Q1 2021. Gross margin improved significantly to 14.5%, up from 1.3% the previous year. The company achieved a product revenue increase of 40.9% to $25.7 million. Despite these positive metrics, the net loss grew to $36.9 million or ($0.78) per share. Full-year revenue guidance now ranges from $144 million to $150 million, suggesting continued strong growth momentum.

Outset Medical, Inc. (Nasdaq: OM) will present at the BofA Securities 2022 Healthcare Conference on May 10, 2022, at 12:00 PM PT / 3:00 PM ET. This event will showcase their innovative Tablo Hemodialysis System, designed to reduce costs and complexities in dialysis treatment. An archived webcast will be available on the company’s website. The Tablo system represents a significant advancement in dialysis care, enabling treatment anywhere and anytime, enhancing patient experience and provider efficiency.

Outset Medical, Inc. (NASDAQ: OM) has appointed Dale E. Jones to its Board of Directors, effective immediately. With over 30 years of experience in team building and human capital issues, Jones aims to contribute to Outset's growth in the medical technology sector. His previous roles include Senior Advisor at Diversified Search Group and CEO for over eight years. Outset's flagship product, the Tablo Hemodialysis System, simplifies dialysis for patients and providers, highlighting the company's commitment to innovation in healthcare.

Outset Medical, Inc. (NASDAQ: OM) will release its first quarter 2022 financial results on May 4, 2022, after market close. A conference call, led by CEO Leslie Trigg and CFO Nabeel Ahmed, is scheduled for 2:00 PM PT (5:00 PM ET) on the same day to discuss these results. The company specializes in innovative dialysis solutions, particularly the FDA-cleared Tablo® Hemodialysis System, which simplifies dialysis processes and improves patient care.