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Jun 30, 2024
Outset Medical Q2 2024 Earnings Report
Outset Medical's financial performance declined in Q2 2024, impacted by lower product revenue, but gross margin expanded.
Key Takeaways
Outset Medical reported a revenue of $27.4 million for Q2 2024, a decrease compared to $36.0 million in Q2 2023. The company's gross margin improved to 35.7%. Net loss was $34.5 million, or $(0.66) per share.
Revenue for the second quarter was $27.4 million, compared to $36.0 million in the second quarter of 2023.
Service and other revenue increased by 21.5% to $8.2 million.
Total gross profit was $9.8 million, compared to $7.7 million for the second quarter of 2023.
Net loss was $34.5 million, or $(0.66) per share, compared to 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 now expects 2024 revenue to be approximately $110 million, revised from a prior range of $145 million to $153 million, and non-GAAP gross margin to be in the low-to-mid 30% range, revised from prior guidance in the low-30% range for 2024 and exiting the year in the mid-30% range for the fourth quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income