Outset Medical, Inc. (OM) Revenue History
Annual and quarterly revenue from 2018 to present
OM Revenue Over Time (2018–2025)
OM Revenue Growth History
6 of 7 years with positive growth- FY2018 revenue growth
- N/A
- FY2019 revenue growth
- +651.3%
- FY2020 revenue growth
- +231.2%
- FY2021 revenue growth
- +105.5%
- FY2022 revenue growth
- +12.4%
- FY2023 revenue growth
- +13.0%
- FY2024 revenue growth
- -12.8%
- FY2025 revenue growth
- +5.1%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $27.9M | -6.3% |
| Q4 2025 | $28.9M | -2.0% |
| Q3 2025 | $29.4M | +2.7% |
| Q2 2025 | $31.4M | +14.7% |
| Q1 2025 | $29.8M | +5.6% |
| Q4 2024 | $29.5M | -3.4% |
| Q3 2024 | $28.7M | -5.6% |
| Q2 2024 | $27.4M | -24.0% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
OM's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
OM Revenue Analysis (2018–2025)
Current Revenue & Growth
As of June 23, 2026, Outset Medical, Inc. (OM) generated trailing twelve-month (TTM) revenue of $117.6 million, reflecting moderate decline in growth of -6.3% year-over-year. The most recent quarter (Q1 2026) recorded $27.9 million in revenue, down 3.5% sequentially.
Historical Growth Trajectory
OM's 5-year compound annual growth rate (CAGR) stands at +19.1%, indicating consistent double-digit revenue growth. The 3-year CAGR of +1.2% is below the 5-year average, signalling a growth deceleration in recent years. Outset Medical, Inc.'s highest annual revenue of $130.4 million was recorded in 2023.
Revenue by Segment
OM's revenue is primarily driven by Product (42%), Consumables Product (26%), and Service And Other Revenue (17%). The diversified mix across segments reduces dependence on any single product line, which can support more resilient revenue in downturns.
Peer Comparison
Compared to Healthcare sector peers — including DVA (+6.7% YoY), FMS (-0.7% YoY), and HCAT (-2.8% YoY) — OM has underperformed the peer group in revenue growth. Compare OM vs DVA →
OM Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| OMCurrent | $118M | -6.3% | +19.1% | -55.8% | |
 DVA | $13.6B | +6.7% | +3.4% | 14.7% | |
 FMS | $19.6B | -0.7% | +1.9% | 9.3% | |
 HCAT | $311M | -2.8% | +10.5% | -11.6% | |
 BDX | $21.8B | +2.4% | +6.3% | 11.8% | |
 BAX | $11.2B | +5.1% | -0.7% | -2.7% |
OM Historical Revenue Data (2018–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $119.5M | +5.1% | $46.8M | 39.1% | $-66,714,000 | -55.8% |
| 2024 | $113.7M | -12.8% | $38.6M | 33.9% | $-113,375,000 | -99.7% |
| 2023 | $130.4M | +13.0% | $29.0M | 22.2% | $-169,770,000 | -130.2% |
| 2022 | $115.4M | +12.4% | $17.8M | 15.5% | $-161,019,000 | -139.6% |
| 2021 | $102.6M | +105.5% | $7.6M | 7.4% | $-130,519,000 | -127.2% |
| 2020 | $49.9M | +231.2% | $-13,037,000 | -26.1% | $-117,467,000 | -235.2% |
| 2019 | $15.1M | +651.3% | $-17,802,000 | -118.1% | $-70,307,000 | -466.3% |
| 2018 | $2.0M | - | $-6,115,000 | -304.7% | $-46,563,000 | -2320.0% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
8+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
OM — Frequently Asked Questions
Quick answers to the most common questions about buying OM stock.
Is OM's revenue growth accelerating or slowing?
OM revenue is declining -6.3% year-over-year. TTM revenue fell to $118M, contrasting with the 5-year CAGR of +19.1%. The reversal reflects either macro headwinds or company-specific challenges.
What is OM's revenue history from 2018 to 2026?
Outset Medical, Inc. (OM) revenue history spans 2018 to 2026. TTM revenue as of 2026 is $118M, growing at -6.3% YoY. The 5-year CAGR is +19.1%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is OM's long-term revenue growth rate (CAGR)?
Outset Medical, Inc.'s 5-year revenue CAGR of +19.1% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -6.3% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for OM.
Why does OM's quarterly revenue fluctuate?
OM quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Outset Medical, Inc.'s revenue data from 2018 to 2026 shows full historical quarterly detail on this page.
How is OM's revenue distributed by segment?
OM reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does OM's revenue compare to industry peers?
Outset Medical, Inc. (OM) with TTM revenue of $118M and -6.3% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.