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OM logoOutset Medical, Inc.(OM)Earnings, Financials & Key Ratios

OM•NASDAQ
Price updated Jun 19, 2026
SectorHealthcareIndustryMedical DevicesSub-IndustryRenal, dialysis, and blood purification
AboutOutset Medical, Inc., a medical technology company, develops a hemodialysis system for dialysis. It provides the Tablo Hemodialysis System, which comprises a compact console with integrated water purification, on-demand dialysate production, and software and connectivity capabilities for dialysis care in acute and home settings. The company was formerly known as Home Dialysis Plus, Ltd. and changed its name to Outset Medical, Inc. in January 2015. Outset Medical, Inc. was incorporated in 2003 and is headquartered in San Jose, California.Show more
  • Revenue$119M+5.1%
  • EBITDA-$62M+42.1%
  • Net Income-$82M+36.2%
  • EPS (Diluted)-5.37+85.5%
  • Gross Margin39.13%+15.4%
  • EBITDA Margin-52.21%+44.9%
  • Operating Margin-55.84%+44.0%
  • Net Margin-68.34%+39.3%
  • ROE-106.2%+37.9%

OM Key Insights

Outset Medical, Inc. (OM) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y sales CAGR of 19.1%
  • ✓Trading at only 0.6x book value

✗Weaknesses

  • ✗Negative free cash flow
  • ✗Shares diluted 100.0% in last year
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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OM Price & Volume

Outset Medical, Inc. (OM) stock price & volume — 10-year historical chart

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OM Growth Metrics

Outset Medical, Inc. (OM) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years19.06%
3 Years1.17%
TTM2.01%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM34.24%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM87.41%

Return on Capital

10 Years-45.48%
5 Years-41.48%
3 Years-43.84%
Last Year-29.18%

OM Peer Comparison

Outset Medical, Inc. (OM) competitors in Renal, dialysis, and blood purification — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
DVA logoDVADaVita Inc.Product Competitor13.35B207.9121.866.46%5.65%59.11%12.99
FMS logoFMSFresenius Medical Care AG & Co. KGaAProduct Competitor12.99B23.5912.201.51%4.89%6.68%0.76
HCAT logoHCATHealth Catalyst, Inc.Product Competitor128.58M1.74-0.681.48%-87.69%-99.78%0.70
BDX logoBDXBecton, Dickinson and CompanySupply Chain52.16B143.9824.708.23%5.33%4.54%0.76
BAX logoBAXBaxter International Inc.Supply Chain10.27B19.89-11.375.72%-9.7%-16.5%1.64
RMD logoRMDResMed Inc.Supply Chain27.48B188.6319.839.84%27.44%24.41%0.14
HOLX logoHOLXHologic, Inc.Supply Chain16.97B76.0130.531.74%13.18%11.01%0.52
MMSI logoMMSIMerit Medical Systems, Inc.Supply Chain4.01B67.2231.5611.66%9.03%8.95%0.57

Compare OM vs Peers

Outset Medical, Inc. (OM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs DVA

Most directly comparable listed peer for OM.

Scale Benchmark

vs BDX

Larger-name benchmark to compare OM against a more recognizable public peer.

Peer Set

Compare Top 5

vs DVA, FMS, HCAT, BDX

OM Income Statement

Outset Medical, Inc. (OM) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
MetricDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Sales/Revenue
2.01M15.08M49.94M102.6M115.38M130.38M113.69M119.48M117.59M
Revenue Growth %
-651.27%231.18%105.47%12.45%13%-12.8%5.09%2.01%
Cost of Goods Sold
8.12M32.88M62.97M94.99M97.54M101.38M75.13M72.72M69.8M
COGS % of Revenue
404.68%218.07%126.11%92.58%84.54%77.76%66.08%60.87%-
Gross Profit
-6.12M▲ 0%
-17.8M▼ 191.1%
-13.04M▲ 26.8%
7.61M▲ 158.4%
17.83M▲ 134.4%
29M▲ 62.6%
38.56M▲ 33.0%
46.75M▲ 21.2%
47.78M▲ 0%
Gross Margin %
-304.68%-118.07%-26.11%7.42%15.46%22.24%33.92%39.13%40.64%
Gross Profit Growth %
--191.12%26.77%158.36%134.4%62.62%32.98%21.24%-
Operating Expenses
40.45M52.51M104.43M138.13M178.85M198.77M151.94M113.46M114.72M
OpEx % of Revenue
2015.35%348.22%209.13%134.62%155.02%152.46%133.64%94.96%-
Selling, General & Admin
17.53M29.18M75.58M101.39M130M141.46M113.54M92.22M93.67M
SG&A % of Revenue
873.54%193.51%151.36%98.81%112.67%108.5%99.87%77.19%-
Research & Development
22.92M23.33M28.85M36.74M48.85M57.31M38.4M21.23M21.34M
R&D % of Revenue
1141.8%154.71%57.78%35.81%42.34%43.96%33.77%17.77%-
Other Operating Expenses
00000000-284K
Operating Income
-46.56M▲ 0%
-70.31M▼ 51.0%
-117.47M▼ 67.1%
-130.52M▼ 11.1%
-161.02M▼ 23.4%
-169.77M▼ 5.4%
-113.38M▲ 33.2%
-66.71M▲ 41.2%
-66.94M▲ 0%
Operating Margin %
-2320.03%-466.29%-235.24%-127.21%-139.56%-130.22%-99.72%-55.84%-56.93%
Operating Income Growth %
--50.99%-67.08%-11.11%-23.37%-5.43%33.22%41.16%-
EBITDA
-45.07M-68.37M-113.71M-125.36M-154.74M-163.96M-107.65M-62.37M-64.58M
EBITDA Margin %
-2245.59%-453.46%-227.72%-122.18%-134.12%-125.76%-94.69%-52.21%-54.92%
EBITDA Growth %
--51.71%-66.31%-10.24%-23.44%-5.96%34.35%42.06%25.37%
D&A (Non-Cash Add-back)
1.49M1.94M3.75M5.16M6.28M5.81M5.73M4.34M2.36M
EBIT
-45.12M-64.02M-118.6M-130.02M-159.09M-159.6M-107.82M-66.71M-65.09M
Net Interest Income
-2.93M-1.77M-2.37M-1.22M-275K-2.5M-14.11M-6.54M-1.59M
Interest Income
1.71M2.48M526K498K3.29M10.17M9.76M7.41M5.43M
Interest Expense
4.64M4.26M2.89M1.72M3.57M12.68M23.87M13.95M7.02M
Other Income/Expense
-3.19M2.03M-4.03M-1.22M-1.64M-2.5M-14.11M-14.22M-7.09M
Pretax Income
-49.76M▲ 0%
-68.28M▼ 37.2%
-121.49M▼ 77.9%
-131.74M▼ 8.4%
-162.66M▼ 23.5%
-172.27M▼ 5.9%
-127.48M▲ 26.0%
-80.94M▲ 36.5%
-74.03M▲ 0%
Pretax Margin %
-2479.07%-452.84%-243.3%-128.4%-140.98%-132.14%-112.13%-67.74%-62.96%
Income Tax
25K20K0199K295K523K491K718K820K
Effective Tax Rate %
-0.05%-0.03%0%-0.15%-0.18%-0.3%-0.39%-0.89%-1.11%
Net Income
-49.78M▲ 0%
-68.3M▼ 37.2%
-121.49M▼ 77.9%
-131.94M▼ 8.6%
-162.96M▼ 23.5%
-172.8M▼ 6.0%
-127.98M▲ 25.9%
-81.65M▲ 36.2%
-74.85M▲ 0%
Net Margin %
-2480.32%-452.97%-243.3%-128.59%-141.24%-132.54%-112.57%-68.34%-63.65%
Net Income Growth %
--37.2%-77.88%-8.6%-23.51%-6.04%25.94%36.2%34.24%
Net Income (Continuing)
-49.78M-68.3M-121.49M-131.94M-162.96M-172.8M-127.98M-81.65M-74.85M
Discontinued Operations
000000000
Minority Interest
000000000
EPS (Diluted)
-1.65▲ 0%
-34.06▼ 1964.2%
-2.83▲ 91.7%
-43.41▼ 1433.9%
-50.75▼ 16.9%
-52.27▼ 3.0%
-36.95▲ 29.3%
-5.37▲ 85.5%
-4.07▲ 0%
EPS Growth %
--1964.24%91.69%-1433.92%-16.91%-3%29.31%85.47%87.41%
EPS (Basic)
-1.65-1.61-2.83-43.41-50.75-52.27-36.95-5.37-
Diluted Shares Outstanding
2.01M2.01M2.85M3.04M3.21M3.31M3.46M15.21M18.37M
Basic Shares Outstanding
2.01M2.01M2.85M3.04M3.21M3.31M3.46M15.21M18.37M
Dividend Payout Ratio
---------

OM Balance Sheet

Outset Medical, Inc. (OM) balance sheet — assets, liabilities & shareholders' equity

MetricDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Current Assets
147.65M79.65M345.91M409.8M373.64M291.22M258.22M250.88M236.71M
Cash & Short-Term Investments
142.78M70.08M314.87M339.49M287.5M203.32M158.69M168.95M156.71M
Cash Only
33.26M36.93M294.97M182.35M73.22M68.51M124.01M35.01M30.56M
Short-Term Investments
109.52M33.15M19.9M157.14M214.28M134.81M34.67M133.94M126.14M
Accounts Receivable
1.09M3.91M6.47M25.6M28.07M32.98M35.62M28.33M25.32M
Days Sales Outstanding
197.8794.7547.2891.0788.892.33114.3686.5594.29
Inventory
3.02M4.6M18.38M39.19M51.48M49.22M59.39M47.61M49.65M
Days Inventory Outstanding
135.8151.02106.56150.56192.62177.2288.54238.96259.87
Other Current Assets
006.19M06.6M5.7M4.53M6M5.03M
Total Non-Current Assets
3.48M8.72M57.92M53.66M26.47M22.58M17.57M13.61M12.74M
Property, Plant & Equipment
2.93M7.89M23.25M20.2M21.99M18.65M12.07M9.47M8.56M
Fixed Asset Turnover
0.69x1.91x2.15x5.08x5.25x6.99x9.42x12.62x13.29x
Goodwill
000000000
Intangible Assets
000000000
Long-Term Investments
151K743K033.31M3.31M003.83M7.16M
Other Non-Current Assets
407K82K34.67M156K1.17M3.93M5.5M317K4.18M
Total Assets
151.13M▲ 0%
88.37M▼ 41.5%
403.83M▲ 357.0%
463.46M▲ 14.8%
400.12M▼ 13.7%
313.8M▼ 21.6%
275.8M▼ 12.1%
264.5M▼ 4.1%
249.45M▲ 0%
Asset Turnover
0.01x0.17x0.12x0.22x0.29x0.42x0.41x0.45x0.44x
Asset Growth %
--41.53%357%14.77%-13.67%-21.57%-12.11%-4.1%-34.8%
Total Current Liabilities
10.21M24.91M36.69M51.7M51.95M55.32M45.38M37.63M37.61M
Accounts Payable
3.37M4.96M4.95M1.76M603K5.83M3.86M554K1.44M
Days Payables Outstanding
151.5855.0628.686.772.2620.9818.762.786.75
Short-Term Debt
10K7.5M00001.8M1.74M1.82M
Deferred Revenue (Current)
269K883K3.2M6.34M8.66M11.73M12.75M13.79M55.34M
Other Current Liabilities
2.23M4.61M10.82M17.49M19.85M24.77M25.16M10.81M21.7M
Current Ratio
14.46x3.20x9.43x7.93x7.19x5.26x5.69x6.67x6.29x
Quick Ratio
14.16x3.01x8.93x7.17x6.20x4.37x4.38x5.40x4.97x
Cash Conversion Cycle
182.0990.71125.16234.86279.17248.55384.13322.72347.41
Total Non-Current Liabilities
428.87M435.64M38.53M37.69M102.18M135.59M203.6M99.91M100.16M
Long-Term Debt
28.35M21.56M29.67M29.76M96.34M130.11M197.38M99.51M2.86M
Capital Lease Obligations
9K08.04M6.89M5.58M4.48M2.68M3.27M6.22M
Deferred Tax Liabilities
-9K00000000
Other Non-Current Liabilities
400.5M413.95M240K721K113K896K2.69M-3.27M97.3M
Total Liabilities
439.08M460.55M75.22M89.38M154.13M190.91M248.98M137.54M137.77M
Total Debt
28.86M29.06M38.6M37.81M103.23M136.19M201.86M104.52M4.68M
Net Debt
-4.4M-7.87M-256.37M-144.54M30.01M67.68M77.84M69.51M-25.89M
Debt / Equity
--0.12x0.10x0.42x1.11x7.53x0.82x0.04x
Debt / EBITDA
---------0.07x
Net Debt / EBITDA
--------0.40x
Interest Coverage
-9.73x-15.04x-41.02x-75.81x-44.61x-12.59x-4.52x-4.78x-9.27x
Total Equity
-287.95M▲ 0%
-372.19M▼ 29.3%
328.61M▲ 188.3%
374.08M▲ 13.8%
245.99M▼ 34.2%
122.89M▼ 50.0%
26.82M▼ 78.2%
126.95M▲ 373.4%
111.69M▲ 0%
Equity Growth %
--29.25%188.29%13.84%-34.24%-50.04%-78.18%373.37%662.45%
Book Value per Share
-143.58-185.58115.38123.0876.6137.177.748.356.08
Total Shareholders' Equity
-287.95M-372.19M328.61M374.08M245.99M122.89M26.82M126.95M111.69M
Common Stock
1K1K43K47K48K50K53K18K18K
Retained Earnings
-287.89M-372.57M-494.06M-625.99M-788.95M-961.75M-1.09B-1.17B-1.19B
Treasury Stock
0-356K0000000
Accumulated OCI
-60K22K1K-184K-564K68K42K172K-73K
Minority Interest
000000000

OM Cash Flow Statement

Outset Medical, Inc. (OM) cash flow — operating, investing & free cash flow history

MetricDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations
-46.44M-70.29M-99.02M-130.26M-145.73M-131.37M-116.3M-46.33M-33.51M
Operating CF Margin %
-2314%-466.19%-198.29%-126.96%-126.31%-100.76%-102.3%-38.78%-
Operating CF Growth %
--51.35%-40.86%-31.56%-11.87%9.85%11.47%60.17%247.01%
Net Income
-49.78M-68.3M-121.49M-131.94M-162.96M-172.8M-127.98M0-74.85M
Depreciation & Amortization
1.07M1.94M3.16M5.16M5.17M5.81M5.73M02.74M
Stock-Based Compensation
788K883K21.44M17.45M27.2M38.63M29.36M016.09M
Deferred Taxes
-75K-4.11M2.49M3.08M00000
Other Non-Cash Items
1.77M893K1.24M1.59M6M-2.25M2.28M-48.53M6.21M
Working Capital Changes
-217K-1.6M-5.85M-25.6M-21.14M-773K-25.69M2.2M16.29M
Change in Receivables
-552K-2.89M-2.57M-19.14M-2.51M-5.09M-5.01M3.77M8.65M
Change in Inventory
-2.21M-5.02M-16.29M-22.04M-14.73M1.65M-10.86M11.79M5.86M
Change in Payables
2.67M802K737K-3.07M-1.28M5.31M-1.95M-3.29M344K
Cash from Investing
-68.78M74.3M3.95M-142.51M-66.3M83.03M103.94M-97.68M-11.71M
Capital Expenditures
-1.77M-3.29M-9.11M-3.11M-8.32M-3.44M-912K-798K-740K
CapEx % of Revenue
87.99%21.84%18.24%3.03%7.22%2.64%0.8%0.67%0.63%
Acquisitions
0-77.59M31K139.4M57.97M0000
Investments
---------
Other Investing
-67.01M77.59M0-139.4M-57.97M0000
Cash from Financing
134.87M249K385.68M160.15M72.9M43.65M67.87M55.5M348K
Debt Issued (Net)
-9K-9K-1.36M064.86M33.23M66.52M-106.68M-5K
Equity Issued (Net)
134.57M00149.09M8.04M10.43M2.28M162.19M353K
Dividends Paid
000000000
Share Repurchases
000000000
Other Financing
314K258K387.05M11.06M00-938K00
Net Change in Cash
19.65M▲ 0%
4.25M▼ 78.4%
290.61M▲ 6731.5%
-112.62M▼ 138.8%
-139.13M▼ 23.5%
-4.7M▲ 96.6%
55.51M▲ 1282.2%
-88.51M▼ 259.5%
-44.87M▲ 0%
Free Cash Flow
-48.21M▲ 0%
-73.58M▼ 52.6%
-108.12M▼ 46.9%
-133.37M▼ 23.4%
-154.05M▼ 15.5%
-134.81M▲ 12.5%
-117.22M▲ 13.1%
-47.13M▲ 59.8%
-34.25M▲ 0%
FCF Margin %
-2401.99%-488.03%-216.53%-129.99%-133.52%-103.4%-103.1%-39.44%-29.13%
FCF Growth %
--52.64%-46.94%-23.35%-15.51%12.49%13.05%59.8%64.6%
FCF per Share
-24.04-36.69-37.96-43.88-47.98-40.78-33.84-3.10-1.86
FCF Conversion (FCF/Net Income)
0.93x1.03x0.81x0.99x0.89x0.76x0.91x0.57x0.46x
Interest Paid
3.29M3.35M3.27M1.15M3.19M10.85M20.68M15.63M8.27M
Taxes Paid
9K35K19K83K385K491K593K447K339K

OM Key Ratios

Outset Medical, Inc. (OM) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2019202020212022202320242025TTM
Return on Equity (ROE)
--36.97%-37.55%-52.56%-93.69%-170.97%-106.2%-55.88%
Return on Invested Capital (ROIC)
---64.88%-47.78%-54.58%-57.6%-33.23%-28.62%
Gross Margin
-118.07%-26.11%7.42%15.46%22.24%33.92%39.13%40.64%
Net Margin
-452.97%-243.3%-128.59%-141.24%-132.54%-112.57%-68.34%-63.65%
Debt / Equity
-0.12x0.10x0.42x1.11x7.53x0.82x0.04x
Interest Coverage
-15.04x-41.02x-75.81x-44.61x-12.59x-4.52x-4.78x-9.27x
FCF Conversion
1.03x0.81x0.99x0.89x0.76x0.91x0.57x0.46x
Revenue Growth
651.27%231.18%105.47%12.45%13%-12.8%5.09%2.01%
Related:OM Dividend History·OM Revenue History·OM Price History·OM P/E History·OM Financial Ratios·OM Institutional Holders

OM SEC Filings & Documents

Outset Medical, Inc. (OM) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 7, 2026·SEC

Material company update

Feb 11, 2026·SEC

Material company update

Jan 27, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 13, 2026·SEC

FY 2025

Feb 28, 2025·SEC

FY 2024

Feb 21, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 7, 2026·SEC

FY 2025

Nov 10, 2025·SEC

FY 2025

Aug 7, 2025·SEC

OM Frequently Asked Questions

Outset Medical, Inc. (OM) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Outset Medical, Inc. (OM) reported $117.6M in revenue for fiscal year 2025. This represents a 5759% increase from $2.0M in 2018.

Outset Medical, Inc. (OM) grew revenue by 5.1% over the past year. This is steady growth.

Outset Medical, Inc. (OM) reported a net loss of $74.8M for fiscal year 2025.

Dividend & Returns

Outset Medical, Inc. (OM) has a return on equity (ROE) of -106.2%. Negative ROE indicates the company is unprofitable.

Outset Medical, Inc. (OM) had negative free cash flow of $34.2M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in OM back in 2018?

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