Outset Medical, Inc. (OM) Income Statement
OM 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsOM revenue and net income
Where OM's revenue goes
2025Each bar shows an amount and its share of revenue. OM kept −68.3% of revenue as net income.
OM profit margins
OM growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +5.1% | +1.2% | +19.1% | — |
| Gross profit | +21.2% | +37.9% | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
OM quarterly EPS vs estimates
Outset Medical beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: November 9, 2026 (estimate $-0.84).
OM income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $119.5M | $113.7M | $130.4M | $115.4M | $102.6M | $49.9M | $15.1M | $2.0M |
| Cost of revenue | $72.7M | $75.1M | $101.4M | $97.5M | $95.0M | $63.0M | $32.9M | $8.1M |
| Gross profit | $46.8M | $38.6M | $29.0M | $17.8M | $7.6M | −$13.0M | −$17.8M | −$6.1M |
| Research & development | $21.2M | $38.4M | $57.3M | $48.9M | $36.7M | $28.9M | $23.3M | $22.9M |
| Sales, general & admin | $92.2M | $113.5M | $141.5M | $130.0M | $101.4M | $75.6M | $29.2M | $17.5M |
| Total operating expenses | $113.5M | $151.9M | $198.8M | $178.9M | $138.1M | $104.4M | $52.5M | $40.4M |
| Operating income | −$66.7M | −$113.4M | −$169.8M | −$161.0M | −$130.5M | −$117.5M | −$70.3M | −$46.6M |
| Interest income | $7.4M | $9.8M | $10.2M | $3.3M | $498,000 | $526,000 | $2.5M | $1.7M |
| Interest expense | $14.0M | $23.9M | $12.7M | $3.6M | $1.7M | $2.4M | $4.3M | $4.6M |
| Income before taxes | −$80.9M | −$127.5M | −$172.3M | −$162.7M | −$131.7M | −$121.5M | −$68.3M | −$49.8M |
| Income taxes | $718,000 | $491,000 | $523,000 | $295,000 | $199,000 | −$794,000 | $20,000 | $25,000 |
| Net income | −$81.7M | −$128.0M | −$172.8M | −$163.0M | −$131.9M | −$120.7M | −$68.3M | −$49.8M |
| EBITDA | −$62.4M | −$102.1M | −$153.8M | −$153.9M | −$124.9M | −$114.3M | −$62.1M | −$43.6M |
| EPS (diluted) | −$5.61 | −$27.00 | −$40.65 | −$42.75 | −$37.35 | −$33.96 | −$34.06 | — |
| Gross margin | 39.1% | 33.9% | 22.2% | 15.5% | 7.4% | −26.1% | −118.1% | −304.7% |
| Operating margin | −55.8% | −99.7% | −130.2% | −139.6% | −127.2% | −235.2% | −466.3% | −2,320.0% |
| Net margin | −68.3% | −112.6% | −132.5% | −141.2% | −128.6% | −241.7% | −453.0% | −2,480.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $31.6M | $27.9M | $28.9M | $29.4M | $31.4M | $29.8M | $29.5M | $28.7M | $27.4M | $28.2M | $30.5M | $30.4M |
| Cost of revenue | $18.4M | $15.8M | $16.6M | $17.8M | $19.6M | $18.7M | $18.7M | $18.8M | $17.6M | $20.0M | $22.8M | $23.2M |
| Gross profit | $13.3M | $12.1M | $12.2M | $11.6M | $11.9M | $11.1M | $10.7M | $9.8M | $9.8M | $8.2M | $7.7M | $7.2M |
| Research & development | $5.5M | $5.6M | $5.1M | $5.4M | $5.3M | $5.5M | $7.9M | $8.1M | $9.7M | $12.6M | $12.5M | $16.1M |
| Sales, general & admin | $23.5M | $23.4M | $24.8M | $22.0M | $23.4M | $21.9M | $24.7M | $25.5M | $30.8M | $32.5M | $32.5M | $36.5M |
| Total operating expenses | $29.0M | $29.0M | $29.9M | $27.4M | $28.7M | $27.5M | $32.6M | $33.7M | $40.5M | $45.1M | $45.1M | $52.6M |
| Operating income | −$15.7M | −$16.9M | −$17.6M | −$15.8M | −$16.9M | −$16.4M | −$21.9M | −$23.8M | −$30.8M | −$36.9M | −$37.4M | −$45.5M |
| Interest income | $1.4M | $1.5M | $1.7M | $1.9M | $1.9M | $2.0M | $2.0M | $2.1M | $2.5M | $3.1M | $2.3M | $2.6M |
| Interest expense | $3.4M | $3.4M | $3.4M | $3.5M | $3.5M | $3.6M | $5.8M | $6.1M | $6.0M | $6.0M | $3.4M | $3.2M |
| Income before taxes | −$17.8M | −$18.8M | −$19.4M | −$17.4M | −$18.4M | −$25.7M | −$25.6M | −$27.8M | −$34.3M | −$39.8M | −$38.5M | −$46.1M |
| Income taxes | $220,000 | $217,000 | $95,000 | $404,000 | $104,000 | $115,000 | −$4,000 | $182,000 | $151,000 | $162,000 | $112,000 | $86,000 |
| Net income | −$18.0M | −$19.0M | −$19.5M | −$17.8M | −$18.5M | −$25.8M | −$25.6M | −$27.9M | −$34.5M | −$39.9M | −$38.6M | −$46.2M |
| EBITDA | −$13.7M | −$14.6M | −$15.1M | −$13.6M | −$13.8M | −$15.1M | −$18.4M | −$19.5M | −$26.8M | −$32.4M | −$33.6M | −$41.1M |
| EPS (diluted) | −$0.94 | −$0.83 | −$0.84 | −$0.69 | −$0.84 | −$3.24 | −$5.55 | −$5.85 | −$7.05 | −$8.55 | −$8.85 | −$10.65 |
| Gross margin | 42.0% | 43.4% | 42.4% | 39.4% | 37.8% | 37.2% | 36.5% | 34.3% | 35.7% | 29.2% | 25.3% | 23.6% |
| Operating margin | −49.6% | −60.7% | −61.1% | −53.7% | −53.7% | −55.1% | −74.2% | −83.2% | −112.3% | −131.0% | −122.4% | −149.7% |
| Net margin | −56.8% | −68.1% | −67.5% | −60.6% | −59.0% | −86.7% | −87.0% | −97.5% | −125.8% | −141.8% | −126.5% | −152.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in OM's financial statements (latest annual report filed February 13, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
OM financial results
In fiscal year 2025 (ended December 31, 2025), Outset Medical reported revenue of $119.5 million, up 5.1% from the year before. It had a net loss of $81.7 million, a net profit margin of −68.3%. Diluted earnings per share came to −$5.61. Over five years revenue grew at an average rate of 19.1% a year.
See the OM stock overview for the latest quote and news, or the OM chart for price history and technical indicators.
OM income statement FAQ
What is Outset Medical's annual revenue?
Outset Medical reported total revenue of $119.5 million for fiscal year 2025, which ended on December 31, 2025. That was up 5.1% from $113.7 million the previous year.
Is Outset Medical profitable?
No. Outset Medical reported a net loss of $81.7 million in fiscal 2025, a net profit margin of −68.3%; its operating margin was −55.8%.
What is Outset Medical's gross margin?
Outset Medical's gross margin was 39.1% in fiscal 2025: for every $100 of revenue, Outset Medical kept $39 after the direct cost of its products and services.
How much does Outset Medical spend on research and development?
Outset Medical spent $21.2 million on research and development in fiscal 2025, 17.8% of revenue.
How fast is Outset Medical growing?
Revenue grew 19.1% a year on average over the last five fiscal years, from $49.9 million to $119.5 million.
What are Outset Medical's earnings per share?
Outset Medical earned $-5.61 per diluted share in fiscal 2025, compared with $-27.00 a year earlier.
When will Outset Medical report its next earnings?
Outset Medical is expected to report results for the quarter ending September 30, 2026 on November 9, 2026 after the market closes.
When does Outset Medical's fiscal year end?
Outset Medical's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 13, 2026.