Outset Medical reported unaudited fourth‑quarter revenue of $28.9 million, a 3 % year‑over‑year increase, and full‑year 2025 revenue of $119.5 million, up 5 % from $113.7 million in 2024. The company’s 2024 revenue fell 13 % from 2023, while product revenue declined 22 % year‑over‑year, underscoring the distinction between overall and product‑specific performance.
The revenue growth was driven by a robust backlog and a growing pipeline of new opportunities. Over 1,000 care sites have adopted the Tablo system, performing roughly 1 million treatments annually and more than 3 million cumulative treatments, which has helped sustain demand across the company’s core segments.
Cash burn improved markedly, with net cash used in operations falling to less than $50 million in 2025 from $116 million in 2024. The reduction reflects disciplined cost management and operational efficiencies that have expanded margins, even as the company continues to invest in its technology platform.
On January 9 2026, the board appointed Karen N. Prange to the board of directors and Compensation Committee, replacing long‑time director Andrea Saia. Prange brings extensive experience in sales, marketing, and executive leadership from Henry Schein and Boston Scientific, positioning the board to support Outset’s commercial expansion and product strategy.
CEO Leslie Trigg emphasized confidence in the company’s trajectory, noting that the strong backlog and pipeline “will continue to fuel Outset’s growth for many years to come.” While specific 2026 guidance was not disclosed, the company reiterated its focus on delivering new services and technologies that improve patient care outcomes at lower cost and complexity.
Investors responded positively to the results, citing the improved cash burn profile and the rebound in revenue after a challenging 2024 as key drivers of optimism.
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