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Friday 6 November 2026
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Outset Medical, Inc.
Outset Medical, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $119.5 million, up 5.09% from fiscal 2024.
- Revenue
- +14.2%
- EPS
- +22.0%
- Free cash flow
- −61.9%
- Total debt
- +4.20%
Quarter to September 2026, against a year earlier
4.18
0.08
+1.95%
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Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | 2 | 15 | 50 | 103 | 115 | 130 | 114 | 119 | 122 | +79.3% | 126 | 139 | 153 | +8.5% | |
| Gross margin, % | — | — | (304.68) | (118.07) | (26.11) | 7.42 | 15.46 | 22.24 | 33.92 | 39.13 | 42.04 | +343.8 pt | ||||||
| EBT | — | — | (50) | (68) | (121) | (132) | (163) | (172) | (127) | (81) | (70) | +7.2% | ||||||
| EBT margin, % | — | — | (2,479.07) | (452.84) | (243.30) | (128.40) | (140.98) | (132.14) | (112.13) | (67.74) | (57.76) | +2,411.3 pt | ||||||
| Net income | — | 0 | (50) | (68) | (121) | (132) | (163) | (173) | (128) | (82) | (71) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | 41.47 | 263.60 | 45.77 | 33.74 | 35.92 | 39.45 | 32.83 | 7.85 | 0.00 | (21.2%) | |||||
| Earnings | — | — | (1,511.25) | (1,493.70) | (111.35) | (43.33) | (50.67) | (52.17) | (36.88) | (5.37) | (3.87) | (55.3%) | ||||||
| Cash flow | — | — | (959.55) | (1,228.88) | (90.75) | (42.84) | (45.37) | (39.75) | (33.58) | (3.05) | 0.00 | (56.0%) | ||||||
| Capex | — | — | (36.49) | (57.57) | (8.32) | (1.02) | (2.59) | (1.04) | (0.26) | (0.05) | 0.00 | (60.7%) | ||||||
| Free cash flow | — | — | (996.03) | (1,286.45) | (99.07) | (43.86) | (47.96) | (40.79) | (33.85) | (3.10) | 0.00 | (56.2%) | ||||||
| Book value | — | — | 0.00 | 651.38 | 301.17 | 123.02 | 76.58 | 37.18 | 7.74 | 8.35 | 0.00 | n/m | ||||||
| Shares, m | — | — | 0 | 0 | 1 | 3 | 3 | 3 | 3 | 15 | 17 | +127.4% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | — | 0.00 | 0.00 | 18.63 | 20.49 | 10.40 | 2.14 | 0.51 | 0.47 | 0.63 | 6.6 | ||||||
| P/B | — | — | 0.00 | 0.00 | 2.83 | 5.62 | 4.88 | 2.28 | 2.15 | 0.44 | 0.93 | 2.3 | ||||||
| EV/Sales | — | — | 0.00 | 0.00 | 12.94 | 17.48 | 8.75 | 1.59 | 0.86 | (0.13) | 0.33 | 5.2 | ||||||
| EV/FCF | — | — | (2.00) | (2.00) | (5.98) | (13.45) | (6.55) | (1.54) | (0.83) | 0.32 | (0.94) | (4.0) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | (46) | (70) | (99) | (130) | (146) | (131) | (116) | (46) | (42) | 0.0% | |||||
| Capex | — | — | (2) | (3) | (9) | (3) | (8) | (3) | (1) | (1) | (1) | (10.7%) | ||||||
| Free cash flow | — | — | (48) | (74) | (108) | (133) | (154) | (135) | (117) | (47) | (43) | (0.3%) | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | 137 | 55 | 309 | 358 | 322 | 236 | 213 | 213 | 172 | +6.5% | |||||
| Net debt | — | — | (114) | (41) | (285) | (310) | (191) | (73) | 39 | (73) | (137) | (6.2%) | ||||||
| Shareholders’ equity | — | — | — | 37 | 329 | 374 | 246 | 123 | 27 | 127 | 83 | +22.7% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | 0.00 | (193.43) | (32.23) | (30.42) | (37.74) | (48.41) | (43.41) | (30.23) | (28.03) | (30.2) pt | |||||
| ROIC | — | — | 0.00 | 0.00 | (169.11) | (126.76) | (183.56) | (213.60) | (108.17) | (76.86) | 0.00 | (76.9) pt | ||||||
| ROE | — | — | 22.14 | 25.89 | 364.06 | (37.55) | (52.56) | (93.69) | (170.97) | (106.20) | (64.14) | (128.3) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | 273 | 313 | 444 | 518 | 480 | 354 | 310 | — | +2.1% | |||||
| Revenue/emp, $m | — | — | 0.00 | 0.06 | 0.16 | 0.23 | 0.22 | 0.27 | 0.32 | 0.39 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 4 Nov 2026
Outset Medical, Inc. vs peers in Medical Devices (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| ZOMDF Zomedica Corp. | $95.4M | — (loss-making) | — (loss-making) | +22.29% (above 0%: growing) | n/m | +32.51% (above 0%: growing) | 61.06% | (34.60%) | Compare |
| NYXH Nyxoah SA | $82.6M | — (loss-making) | — (loss-making) | +486.62% (above 0%: growing) | n/m | +4.01% (above 0%: growing) | 59.73% | (268.25%) | Compare |
| SERA Sera Prognostics, Inc. | $82.1M | — (loss-making) | — (loss-making) | +162.50% (above 0%: growing) | n/m | −12.79% (below 0%: shrinking) | 0.00% | (21,159.52%) | Compare |
| ECOR electroCore, Inc. | $79.3M | — (loss-making) | — (loss-making) | +11.52% (above 0%: growing) | n/m | −69.10% (below 0%: shrinking) | 88.47% | (16.06%) | Compare |
| LUCD Lucid Diagnostics Inc. | $79.3M | — (loss-making) | — (loss-making) | +26.74% (above 0%: growing) | n/m | −7.04% (below 0%: shrinking) | 1.97% | (868.45%) | Compare |
| OM Outset Medical, Inc. | $77.0M | — (loss-making) | — (loss-making) | +14.15% (above 0%: growing) | n/m | −61.85% (below 0%: shrinking) | 40.69% | (36.52%) | |
| HYPR Hyperfine, Inc. | $72.7M | — (loss-making) | — (loss-making) | +44.81% (above 0%: growing) | n/m | +13.43% (above 0%: growing) | 50.72% | (216.93%) | Compare |
| MBOT Microbot Medical Inc. | $71.9M | — (loss-making) | — | +1,047.62% (above 0%: growing) | n/m | −98.72% (below 0%: shrinking) | (266.80%) | (2,567.63%) | Compare |
| LNSR LENSAR, Inc. | $67.6M | 3.9× | 6.9× | +18.37% (above 0%: growing) | n/m | +96.81% (above 0%: growing) | 59.27% | 12.94% | Compare |
| Median of peers | $79.3M | — | — | +35.78% | — | −1.52% | 54.99% | (242.59%) |
Pay and ownership Proxy statement filed 24 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 3.26m | 1.03m | 0.44 |
| 2024 | 4.00m | 1.99m | 1.95 |
| 2023 | 6.47m | (742.68k) | 9.52 |
| 2022 | 4.13m | (1.47m) | 45.43 |
| 2021 | 7.14m | 802.38k | 81.09 |
Ownership
Directors and executive officers, together
2.50%
FMR LLC
14.10%
BML Investment Partners, L.P.
10.30%
Alyeska Master Fund, LP(12 )
9.20%
Woodline Master Fund LP
7.20%
BlackRock, Inc.
6.60%
Entities affiliated with Perceptive
6.40%
Bank of America Corporation
5.10%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement