Outset Medical sees Q4 revenue $30.5M, consensus 30.13M

Revenue in the fourth quarter totaled $30.5M bringing revenue for 2023 to $130M, a 13% increase compared to $115M in 2022. Period-end installed base increased 34% year-over-year to approximately 5,350 Tablo Hemodialysis Systems, including approximately 4,050 with acute- and sub-acute care providers and 1,300 with home providers. Consumable revenue grew nearly 50% year-over-year driven by strong utilization of Tablo consoles in the acute and home settings, and contributing to recurring revenue of more than 50% of total revenue in 2023. On January 2, the Company reported borrowing $66.5 million under its term loan agreements with SLR Investment adding to its balance as of December 31 of $207Min cash, cash equivalents, short-term investments and restricted cash. With this additional funding, Outset’s cash position is now approximately $270M . “We enter 2024 with a truly differentiated offering, scale in the acute setting, recurring revenue exceeding 50% of total revenue for the year and a strengthened balance sheet to fund our continued growth,” said Leslie Trigg, Chair and Chief Executive Officer of Outset. “As the only fully integrated mobile dialysis device, Tablo’s value continues to resonate with providers and patients from the ICU to the home.”