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Mar 31, 2024
Outset Medical Q1 2024 Earnings Report
Outset Medical's financial performance for Q1 2024 was reported, showing a revenue decrease but gross margin expansion and cost reduction initiatives.
Key Takeaways
Outset Medical reported a decrease in revenue for Q1 2024 to $28.2 million, compared to $33.5 million in Q1 2023. However, the company saw an increase in gross profit and gross margin, along with a reduction in operating expenses. The company reaffirmed its full year 2024 revenue guidance of $145 million to $153 million.
Revenue for Q1 2024 was $28.2 million, a decrease from $33.5 million in Q1 2023.
Gross margin improved to 29.2% in Q1 2024, compared to 19.2% in Q1 2023.
Operating expenses decreased by 10% compared to the prior-year period.
Net loss was $(39.9) million, or $(0.78) per share, compared to a net loss of $(44.0) million, or $(0.90) per share, for the same period in 2023.
Outset Medical
Outset Medical
Outset Medical Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comService and Other Revenue
CapyFin.com Forward Guidance
Outset reaffirmed its previously provided guidance for 2024 including revenue of $145 million to $153 million, growing 12% to 18% over 2023, and non-GAAP gross margin in the low-30% range for the full year 2024, exiting the year in the mid-30% range for the fourth quarter.
Positive Outlook
- Revenue of $145 million to $153 million, growing 12% to 18% over 2023.
- Non-GAAP gross margin in the low-30% range for the full year 2024.
- Exiting the year in the mid-30% range for the fourth quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income