NASDAQ$OM
Outset Medical Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Outset Medical's financial performance for Q1 2024 was reported, showing a revenue decrease but gross margin expansion and cost reduction initiatives.
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.
Headline financials
Revenue & EPS history
Outset Medical · Revenue · Quarterly
$28.2M
Revenue by segment
Outset Medical · $30.4M total across 2 segments · Q3 2023
- Product Revenue$23.5M—77.5%
- Service and Other Revenue$6.83M—22.5%
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.
Tailwinds
- 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.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
-2.7%
Avg return
Earnings day
-4.8%
Avg return
5 days after
+0.5%
Avg return
30 days after
50%
12 / 24 earnings
Positive
+33.5%
Q1 2025
Best reaction
-69.6%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +4.2% | -17.1% | -2.3% | |
| Q4 2025 | -16.3% | -28.4% | -28.3% | |
| Q3 2025 | -48.6% | -61.2% | -64.5% | |
| Q1 2025 | +33.5% | +46.8% | +78.3% | |
| Q4 2024 | +2.1% | -13.0% | -28.7% | |
| Q3 2024 | +23.7% | +36.0% | +91.4% | |
| Q2 2024 | -69.6% | -75.0% | -86.1% | |
| Q1 2024 | -13.7% | -18.2% | +18.7% | |
| Q4 2023 | +1.8% | +9.3% | -40.6% | |
| Q3 2023 | -13.6% | -13.8% | +33.7% | |
| Q2 2023 | -14.6% | -17.5% | -31.8% | |
| Q1 2023 | +8.3% | +3.4% | +15.4% | |
| Q4 2022 | -6.5% | -10.6% | -30.5% | |
| Q3 2022 | +20.2% | +44.2% | +82.5% | |
| Q2 2022 | +21.8% | +23.5% | +18.4% | |
| Q1 2022 | -13.2% | -38.5% | -39.5% | |
| Q4 2021 | +9.5% | +15.9% | +22.6% | |
| Q3 2021 | -0.1% | -4.6% | -22.9% | |
| Q2 2021 | -2.5% | -9.9% | +21.1% | |
| Q1 2020 | -5.6% | -14.4% | -16.7% | |
| Q1 2021 | -9.1% | -11.9% | -17.6% | |
| Q2 2020 | +6.0% | +0.1% | +12.2% | |
| Q4 2020 | +12.5% | +8.9% | +18.4% | |
| Q3 2020 | +5.5% | +29.6% | +8.4% | |
| Q4 2019 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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