Outset Medical Q4 revenue $30.5M, FY revenue $130.4M; CCO Steve Williamson departs March 1

Outset Medical, Inc.

2023-FY EPS reported -$3.48 revenue$130,376,000

FY 2023 revenue $130.4M (+13% YoY); Q4 revenue $30.5M (-4.7% YoY) due to product revenue decline.
Q4 gross margin 25.3% (non-GAAP 26.7%), up ~900 bps YoY; FY gross margin 22.2% (non-GAAP 23.6%).
Tablo installed base 5,350 consoles exiting 2023; recurring revenue exceeded 50% of total revenue.
2024 guidance reaffirmed: revenue $145-153M (+12-18% YoY); non-GAAP gross margin low-30% range.
CCO Steve Williamson to depart March 1, 2024 to become CEO of another public med device company; no dispute.

item 2.02 item 5.02 item 9.01

Executive movements

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Departed

Steve Williamson

Chief Commercial Officer

OM · Outset Medical, Inc.

Effective: 2024-03-01
Filed: February 21, 2024, 6:59 PM ET

On February 16, 2024, Steve Williamson informed the Company of his decision to depart from the Company and his role as Chief Commercial Officer, effective March 1, 2024, to become the CEO of another publicly traded medical device company.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Outset Medical, Inc. updated its fourth quarter and full year ended December 31, 2023 guidance (reaffirmed).

Period: fourth quarter and full year ended December 31, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On February 21, 2024, Outset Medical, Inc. (the “Company”) issued a press release and will hold its fourth quarter and full year 2023 earnings conference call announcing the Company’s financial results for the quarter and year ended December 31, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Steve Williamson departed as Chief Commercial Officer at Outset Medical, Inc..

Action: depart
Role: Chief Commercial Officer

Exact text from the filing

On February 16, 2024, Steve Williamson informed the Company of his decision to depart from the Company and his role as Chief Commercial Officer, effective March 1, 2024, to become the CEO of another publicly traded medical device company.

View on SEC.gov

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Outset Medical, Inc. filing history →

Source: SEC EDGAR

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