Outset Medical, Inc. (OM) Balance Sheet
OM balance sheet, 2025
December 31, 2025 · U.S. dollars$264.5M assets = $137.5M liabilities + $127.0M equity
Both columns are drawn to the same scale: what OM owns equals what it owes plus shareholders’ equity. Hover a block for its value.
OM financial health
Descriptive bands, not a rating. Fiscal 2025.
OM balance sheet trends, 2018–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $151.1M2018 | $264.5M2025 | +8.3%/yr | |
| Total liabilities | $439.1M2018 | $137.5M2025 | −15.3%/yr | |
| Shareholders’ equity | −$287.9M2018 | $127.0M2025 | — | |
| Cash & short-term investments | $142.8M2018 | $168.9M2025 | +2.4%/yr | |
| Total debt | $28.9M2018 | $101.2M2025 | +19.6%/yr | |
| Net cash (debt) | $113.9M2018 | $67.7M2025 | −$46.2M | |
| Working capital | $137.4M2018 | $213.3M2025 | +$75.8M | |
| Current ratio | 14.462018 | 6.672025 | −7.79 | |
| Debt / equity | 0.122020 | 0.802025 | +0.68 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
OM assets
OM liabilities and equity
OM debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
OM balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Cash & short-term investments | $168.9M | $158.7M | $203.3M | $287.5M | $339.5M | $314.9M | $70.1M | $142.8M |
| Cash & equivalents | $35.0M | $124.0M | $68.5M | $73.2M | $182.3M | $295.0M | $36.9M | $33.3M |
| Short-term investments | $133.9M | $34.7M | $134.8M | $214.3M | $157.1M | $19.9M | $33.2M | $109.5M |
| Receivables | $28.3M | $35.6M | $33.0M | $28.1M | $25.6M | $6.5M | $3.9M | $1.1M |
| Inventory | $47.6M | $59.4M | $49.2M | $51.5M | $39.2M | $18.4M | $4.6M | $3.0M |
| Other current assets | $6.0M | $4.5M | $5.7M | $6.6M | $5.5M | $6.2M | $1.1M | $754,000 |
| Total current assets | $250.9M | $258.2M | $291.2M | $373.6M | $409.8M | $345.9M | $79.6M | $147.6M |
| Property, plant & equipment (net) | $9.5M | $12.1M | $18.6M | $22.0M | $20.2M | $23.3M | $7.9M | $2.9M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $4.1M | $5.5M | $3.9M | $4.5M | $33.5M | $34.7M | $825,000 | $558,000 |
| Total assets | $264.5M | $275.8M | $313.8M | $400.1M | $463.5M | $403.8M | $88.4M | $151.1M |
| Liabilities | ||||||||
| Accounts payable | $554,000 | $3.9M | $5.8M | $603,000 | $1.8M | $4.9M | $5.0M | $3.4M |
| Short-term debt | $1.7M | $1.8M | $1.6M | $1.3M | $1.2M | $882,000 | $7.5M | $515,000 |
| Deferred revenue | $13.8M | $12.8M | $11.7M | $8.7M | $6.3M | $3.2M | $883,000 | $269,000 |
| Total current liabilities | $37.6M | $45.4M | $55.3M | $51.9M | $51.7M | $36.7M | $24.9M | $10.2M |
| Long-term debt | $96.2M | $197.4M | $130.1M | $96.3M | $29.8M | $29.7M | $21.6M | $28.3M |
| Lease obligations | $5.0M | $4.5M | $6.1M | $6.9M | $8.0M | $8.9M | $0 | $514,000 |
| Other long-term liabilities | $3.7M | $6.2M | $5.5M | $5.8M | $7.9M | $8.9M | $414.1M | $400.5M |
| Total liabilities | $137.5M | $249.0M | $190.9M | $154.1M | $89.4M | $75.2M | $460.6M | $439.1M |
| Shareholders' equity | ||||||||
| Common stock & paid-in capital | $18,000 | $53,000 | $50,000 | $48,000 | $47,000 | $43,000 | $1,000 | $1,000 |
| Retained earnings (deficit) | −$1.17B | −$1.09B | −$961.7M | −$789.0M | −$626.0M | −$494.1M | −$372.6M | −$287.9M |
| Accumulated other comprehensive income | $172,000 | $42,000 | $68,000 | −$564,000 | −$184,000 | $1,000 | $22,000 | −$60,000 |
| Total shareholders' equity | $127.0M | $26.8M | $122.9M | $246.0M | $374.1M | $328.6M | −$372.2M | −$287.9M |
| Key figures | ||||||||
| Total debt | $101.2M | $201.9M | $136.2M | $103.2M | $37.8M | $38.6M | $29.1M | $28.9M |
| Net cash (debt) | $67.7M | −$43.2M | $67.1M | $184.3M | $301.7M | $276.3M | $41.0M | $113.9M |
| Working capital | $213.3M | $212.8M | $235.9M | $321.7M | $358.1M | $309.2M | $54.7M | $137.4M |
| Tangible book value | $127.0M | $26.8M | $122.9M | $246.0M | $374.1M | $328.6M | −$372.2M | −$287.9M |
| Book value per share | $8.35 | — | — | — | — | — | — | — |
| Shares outstanding | 15.2M | — | — | — | — | — | — | — |
| Current ratio | 6.67 | 5.69 | 5.26 | 7.19 | 7.93 | 9.43 | 3.20 | 14.46 |
| Quick ratio | 5.24 | 4.28 | 4.27 | 6.07 | 7.06 | 8.76 | 2.97 | 14.09 |
| Debt / equity | 0.80 | 7.53 | 1.11 | 0.42 | 0.10 | 0.12 | — | — |
| Equity / assets | 48.0% | 9.7% | 39.2% | 61.5% | 80.7% | 81.4% | −421.2% | −190.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $147.2M | $156.7M | $168.9M | $178.6M | $184.1M | $189.0M | $158.7M | $175.6M | $194.8M | $226.9M | $203.3M | $194.0M |
| Cash & equivalents | $35.0M | $30.6M | $35.0M | $36.4M | $39.6M | $75.9M | $124.0M | $33.3M | $37.9M | $32.2M | $68.5M | $36.3M |
| Short-term investments | $112.2M | $126.1M | $133.9M | $142.2M | $144.5M | $113.1M | $34.7M | $142.3M | $157.0M | $194.7M | $134.8M | $157.7M |
| Receivables | $29.2M | $25.3M | $28.3M | $33.0M | $34.9M | $36.9M | $35.6M | $34.3M | $34.1M | $36.5M | $33.0M | $35.5M |
| Inventory | $47.3M | $49.6M | $47.6M | $49.3M | $52.2M | $55.8M | $59.4M | $61.4M | $61.6M | $55.8M | $49.2M | $48.3M |
| Other current assets | $4.1M | $5.0M | $6.0M | $4.5M | $4.3M | $4.9M | $4.5M | $3.9M | $4.6M | $6.2M | $5.7M | $6.0M |
| Total current assets | $227.8M | $236.7M | $250.9M | $265.4M | $275.6M | $286.6M | $258.2M | $275.3M | $295.1M | $325.4M | $291.2M | $283.8M |
| Property, plant & equipment (net) | $10.3M | $8.6M | $9.5M | $8.0M | $9.3M | $10.5M | $12.1M | $13.8M | $15.5M | $17.0M | $18.6M | $19.5M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $4.2M | $4.2M | $4.1M | $3.9M | $3.9M | $4.1M | $5.5M | $3.8M | $3.8M | $3.9M | $3.9M | $4.3M |
| Total assets | $242.4M | $249.5M | $264.5M | $277.3M | $288.8M | $301.2M | $275.8M | $292.9M | $314.5M | $346.2M | $313.8M | $307.6M |
| Liabilities | ||||||||||||
| Accounts payable | $4.5M | $1.4M | $554,000 | $1.7M | $1.4M | $1.2M | $3.9M | $4.3M | $5.3M | $6.8M | $5.8M | $2.9M |
| Short-term debt | $2.6M | $1.8M | $1.7M | $1.9M | $1.9M | $1.9M | $1.8M | $1.7M | $1.7M | $1.6M | $1.6M | $1.5M |
| Deferred revenue | $14.0M | $12.6M | $13.8M | $14.9M | $14.0M | $13.2M | $12.8M | $12.8M | $13.1M | $12.8M | $11.7M | $10.8M |
| Total current liabilities | $43.9M | $37.6M | $37.6M | $37.4M | $36.9M | $34.2M | $45.4M | $42.4M | $43.4M | $50.7M | $55.3M | $53.0M |
| Long-term debt | $97.6M | $96.9M | $96.2M | $95.5M | $94.8M | $94.1M | $197.4M | $197.2M | $197.0M | $196.8M | $130.1M | $96.8M |
| Lease obligations | $6.8M | $4.7M | $5.0M | $3.2M | $3.6M | $4.1M | $4.5M | $4.9M | $5.3M | $5.7M | $6.1M | $6.4M |
| Other long-term liabilities | $4.5M | $3.2M | $3.7M | $1.9M | $2.3M | $3.0M | $6.2M | $5.5M | $5.5M | $5.6M | $5.5M | $5.7M |
| Total liabilities | $146.0M | $137.8M | $137.5M | $134.9M | $134.0M | $131.3M | $249.0M | $245.1M | $245.9M | $253.0M | $190.9M | $155.5M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $19,000 | $18,000 | $18,000 | $18,000 | $18,000 | $18,000 | $53,000 | $52,000 | $52,000 | $52,000 | $50,000 | $50,000 |
| Retained earnings (deficit) | −$1.21B | −$1.19B | −$1.17B | −$1.15B | −$1.13B | −$1.12B | −$1.09B | −$1.06B | −$1.04B | −$1.00B | −$961.7M | −$923.1M |
| Accumulated other comprehensive income | −$136,000 | −$73,000 | $172,000 | $157,000 | $49,000 | $88,000 | $42,000 | $352,000 | −$302,000 | −$258,000 | $68,000 | −$253,000 |
| Total shareholders' equity | $96.3M | $111.7M | $127.0M | $142.4M | $154.8M | $169.9M | $26.8M | $47.8M | $68.6M | $93.2M | $122.9M | $152.1M |
| Key figures | ||||||||||||
| Total debt | $104.4M | $101.6M | $101.2M | $98.7M | $98.4M | $98.2M | $201.9M | $202.1M | $202.3M | $202.5M | $136.2M | $103.2M |
| Net cash (debt) | $42.7M | $55.1M | $67.7M | $80.0M | $85.7M | $90.8M | −$43.2M | −$26.5M | −$7.5M | $24.4M | $67.1M | $90.8M |
| Working capital | $184.0M | $199.1M | $213.3M | $227.9M | $238.7M | $252.3M | $212.8M | $232.8M | $251.7M | $274.7M | $235.9M | $230.8M |
| Tangible book value | $96.3M | $111.7M | $127.0M | $142.4M | $154.8M | $169.9M | $26.8M | $47.8M | $68.6M | $93.2M | $122.9M | $152.1M |
| Book value per share | $5.17 | $6.08 | $7.13 | $8.01 | $8.72 | — | — | — | — | — | — | — |
| Shares outstanding | 18.6M | 18.4M | 17.8M | 17.8M | 17.7M | — | — | — | — | — | — | — |
| Current ratio | 5.19 | 6.29 | 6.67 | 7.09 | 7.47 | 8.37 | 5.69 | 6.49 | 6.80 | 6.42 | 5.26 | 5.35 |
| Quick ratio | 4.02 | 4.84 | 5.24 | 5.65 | 5.93 | 6.60 | 4.28 | 4.95 | 5.27 | 5.20 | 4.27 | 4.33 |
| Debt / equity | 1.08 | 0.91 | 0.80 | 0.69 | 0.64 | 0.58 | 7.53 | 4.23 | 2.95 | 2.17 | 1.11 | 0.68 |
| Equity / assets | 39.7% | 44.8% | 48.0% | 51.3% | 53.6% | 56.4% | 9.7% | 16.3% | 21.8% | 26.9% | 39.2% | 49.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 13, 2026); data from EODHD.
OM financial position
At the end of fiscal 2025 (December 31, 2025), Outset Medical had total assets of $264.5 million (down 4.1% from a year earlier), total liabilities of $137.5 million and shareholders' equity of $127.0 million. It held $168.9 million in cash and short-term investments against $101.2 million of debt, a net cash position of $67.7 million. Its current ratio was 6.67. In the latest quarter (ended June 30, 2026) total assets were $242.4 million and equity $96.3 million.
Related: OM income statement, OM cash flow statement, OM key metrics. See the OM stock overview for the latest quote and news.
OM balance sheet FAQ
What are Outset Medical's total assets?
Outset Medical reported total assets of $264.5 million at the end of fiscal 2025 (December 31, 2025), compared with $275.8 million a year earlier.
How much debt does Outset Medical have?
Outset Medical had $101.2 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.80.
How much cash does Outset Medical have?
Outset Medical held $168.9 million in cash and short-term investments at the end of fiscal 2025; with $101.2 million of debt that is net cash of $67.7 million.
What is Outset Medical's book value?
Outset Medical's shareholders' equity (book value) was $127.0 million at the end of fiscal 2025, or $8.35 per share.
What is Outset Medical's current ratio?
Outset Medical had current assets of $250.9 million and current liabilities of $37.6 million, a current ratio of 6.67 (it can cover its short-term obligations).