NASDAQ$OM
Outset Medical Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Outset Medical's revenue decreased slightly year-over-year, but showed sequential growth. Gross margin improved compared to the prior year, and recurring revenue reached a record level. The company also increased its full year 2024 revenue guidance.
Outset Medical reported a slight decrease in revenue compared to Q3 2023, but experienced sequential growth from Q2 2024. The company saw improvements in gross margin and achieved record recurring revenue. They also increased revenue guidance for the full year.
- Revenue for the third quarter was $28.7 million, a 5% increase compared to the second quarter and a 6% decrease from the third quarter of 2023.
- Product revenue was $20.3 million, a 6% increase from the second quarter and a 14% decrease from the third quarter of 2023.
- Recurring revenue from Tablo cartridges and service reached $21 million, a 4% increase from the second quarter and a 17% increase compared to the prior-year period.
- Net loss was $27.9 million, or $(0.55) per share, compared to a net loss of $46.2 million, or $(0.93) per share, for the same period in 2023.
Headline financials
Revenue & EPS history
Outset Medical · Revenue · Quarterly
$28.7M
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 increased 2024 revenue guidance to approximately $112 million from prior guidance of approximately $110 million, and non-GAAP gross margin guidance to the mid-30% range from the low-to-mid 30% range.
Tailwinds
- Increased 2024 revenue guidance to approximately $112 million.
- Increased non-GAAP gross margin guidance to the mid-30% range.
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 Q3 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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