10-K · February 13, 2026
Outset positions Tablo as a single-enterprise hemodialysis solution focused on broad adoption in acute care (primary focus), post-acute and home markets and highlights a connected data ecosystem and manufacturing scale…
Earnings analysis · 10-Q
OM earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Outset Medical's Q1 2026 results showed a 6% year-over-year decline in revenue to $27.9 million, which was below estimates. The net loss decreased from $25.8 million in the prior year to $19.0 million. Gross margin…
Read full summary
Outset Medical's Q1 2026 results showed a 6% year-over-year decline in revenue to $27.9 million, which was below estimates. The net loss decreased from $25.8 million in the prior year to $19.0 million. Gross margin improved significantly to 43.4% from 37.2%, indicating operational efficiency despite ongoing challenges.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.83
- Gross margin
- 43.4%
What stood out
-
Revenue Decline of 6% YoY
Total revenue for Q1 2026 was $27.9 million, down from $29.8 million in Q1 2025.
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Improvement in Gross Margin
Gross margin rose to 43.4% from 37.2% year-over-year, driven by better pricing on consoles.
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Decrease in Net Loss
Net loss narrowed to $19.0 million from $25.8 million in Q1 2025, showing minor operational efficiency gains.
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Cash and Investments Position
As of March 31, 2026, cash and short-term investments totaled $160.5 million.
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Positive Operating Cash Flow Turnaround
Operating cash flow improved, with a cash burn of $12.8 million compared to $25.7 million in the prior year.
What to watch
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Increased Operating Expenses
Total operating expenses increased to $29.0 million from $27.5 million year-over-year.
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Declining Product Revenue
Product revenue fell 13% year-over-year, indicating weak demand.
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Future Capital Spending Risk
Expansion could be hindered by existing covenants and market conditions affecting capital budgets.
Management's outlook
2026 revenue guidance remains unchanged, projecting a 5% to 9% increase over 2025.
Earlier filings 4
10-Q · November 10, 2025
Outset reported third-quarter revenue of $29,431,000, up modestly from $28,666,000 in the year-ago quarter, with gross margin expanding to 39.4% and operating loss narrowing to $15,813,000. Management reduced operating…
10-Q · August 8, 2024
Outset reported Q2 revenue of $27,388,000, down $8,652,000 or 24.0% year-over-year, while gross profit rose to $9,782,000 (35.7% margin) from $7,703,000. Operating loss narrowed to $(30,764,000) from $(43,478,000) and…
10-Q · May 9, 2024
Outset reported Q1 revenue of $28,168,000, down $5,299,000 or 15.8% year-over-year, while gross profit improved to $8,215,000 (29.2% margin) from $6,428,000 a year ago. Operating loss narrowed to $(36,912,000) from…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.