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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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