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Jun 30, 2025
Outset Medical Q2 2025 Earnings Report
Outset Medical reported strong revenue growth, console placements, and utilization in Q2 2025.
Key Takeaways
Outset Medical delivered a strong second quarter, with net revenue increasing by 15% year-over-year to $31.4 million, driven by a significant 25% increase in Tablo console revenue. The company also improved its gross margin, reduced operating expenses by nearly 30%, and significantly decreased cash usage, demonstrating progress towards profitability.
Net revenue increased by 15% year-over-year to $31.4 million.
Gross margin improved to 37.8% (38.4% non-GAAP), a 110 basis-point improvement over the prior year.
Operating expenses declined by nearly 30% from the second quarter of 2024.
Net loss significantly reduced to $18.5 million from $34.5 million in the prior-year period.
Revenue by Segment
Forward Guidance
Outset Medical raised its full-year 2025 revenue guidance and reiterated expectations for non-GAAP gross margin and cash usage, indicating continued progress towards profitability.
Positive Outlook
- Raised 2025 revenue guidance to a range of $122 million to $126 million (from $115 million to $125 million).
- Continues to expect 2025 non-GAAP gross margin to be in the high-30% range.
- Continues to expect to use less than $50 million of cash in 2025 (compared to over $100 million used in 2024).
- Focus on streamlining operations and accelerating path to profitability.
- Anticipated continued momentum from commercial organization transformation and growing demand.
Challenges Ahead
- No specific negative forward guidance points were explicitly stated in the provided text.
- Reliance on continued execution of initiatives to expand gross margins.
- Potential impact of macroeconomic factors on the company, customers, and suppliers.
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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