Outset Medical Q1 revenue $33.5M (+9.5% YoY); raises FY2023 revenue and margin guidance

Outset Medical, Inc.

2023-Q1 EPS reported -$0.90 revenue$33,467,000

Revenue $33.5M, up 9.5% YoY; product revenue $27.8M (+8.2%), service revenue $5.7M (+16.4%).
Gross margin 19.2% (20.3% non-GAAP), up from 14.5% a year ago; product margin 25.1% vs 10.0%.
Net loss ($44.0M) or ($0.90) per share; non-GAAP net loss ($35.4M) or ($0.72) per share.
FY2023 revenue guidance raised to $144-$150M (prior $140-$150M); gross margin guidance raised to low-20% (from ~20%).
Added over 30 new hospital sites in Q1, largest quarterly new site growth since 2021; cash $252.5M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Outset Medical, Inc. reported first quarter ended March 31, 2023 results: revenue $33.5 million, net income ($44.0) million, EPS ($0.90) per share. Guidance raised.

Period: first quarter ended March 31, 2023
Revenue: $33.5 million
Net income: ($44.0) million
EPS: ($0.90) per share
Guidance: raised
Result: reported results

Exact text from the filing

to reduce the cost and complexity of dialysis, today reported financial results for the first quarter ended March 31, 2023. Recent Highlights • Recorded net revenue of $33.5 million in the first quarter, a 9.5% increase compared to $30.6 million in the first quarter of 2022, and a 4.6% increase compared to $32.0 million in the fourth quarter of 2022 •

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Source: SEC EDGAR

accession 0000950170-23-017186

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