Outset Medical Inc
NASDAQ:OM
NASDAQ FSI:D. Deficient (Issuer failed to meet continued listing requirements)

  • LAST PRICE
    0.8532
  • TODAY'S CHANGE (%)
    0.0000 (0.0000%)
  • Bid / Lots
    ---/ ---
  • Ask / Lots
    ---/ ---
  • Open / Previous Close
    --- / 0.8532
  • Day Range
    ---
  • 52 Week Range
    0.4350
    6.3700
  • Volume
    ---

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  • Nov 9, 2024

  • Nov 6, 2024

      Show headlines and story abstract

    • 4:06PM ET on Wednesday Nov 06, 2024 by MT Newswires
      Companies Mentioned: OM
      04:06 PM EST, 11/06/2024 (MT Newswires) -- ...

    • 4:06PM ET on Wednesday Nov 06, 2024 by MT Newswires
      Companies Mentioned: OM
      04:06 PM EST, 11/06/2024 (MT Newswires) -- ...

    • 4:02PM ET on Wednesday Nov 06, 2024 by Dow Jones
      Companies Mentioned: OM
      31, 2023 -- -- Common stock, $0.001 par value; 300,000 shares authorized as of September 30, 2024 and December 31, 2023; 52,538 and 50,317 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 52 50 Additional paid-in capital 1,111,503 1,084,515 Accumulated other comprehensive income 352 68 Accumulated deficit (1,064,085) (961,747) ----------- ---------- Total stockholders' equity 47,822 122,886 ----------- ---------- Total liabilities and stockholders' equity $ 292,890 $ 313,801 =========== ========== Outset Medical, Inc. Condensed Statements of Cash Flows (in thousands) (unaudited) Nine Months Ended September 30, ------------------------------------- 2024 2023 ----------------- -------------- Net cash used in operating activities $ (99,815) $ (106,931) Net cash (used in) provided by investing activities (4,215) 59,601 Net cash provided by financing activities 68,808 10,423 ------------- ------------- Net decrease in cash, cash equivalents and restricted cash (35,222) (36,907) Cash, cash equivalents and restricted cash at beginning of the period 71,838 76,533 ------------- ------------- Cash, cash equivalents and restricted cash at end of the period (1) $ 36,616 $ 39,626 ============= ============= (1) The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the accompanying condensed balance sheets that sum to the total of the amounts shown in the accompanying condensed statements of cash flows (in thousands): September 30, ------------------------------------- 2024 2023 ----------------- -------------- Cash and cash equivalents $ 33,287 $ 36,297 Restricted cash 3,329 3,329 ------------- ------------- Total cash, cash equivalents and restricted cash(*) $ 36,616 $ 39,626 ============= ============= * The total cash, including restricted cash, cash equivalents and investment securities as of September 30, 2024 was $179.0 million; compared to $197.3 million as of September 30, 2023. Appendix A Outset Medical, Inc. Results of Operations -- Non-GAAP (in thousands, except per share amounts) (unaudited) Reconciliation between GAAP and non-GAAP net loss per share: Three Months Ended Nine Months Ended September 30, September 30, ----------------------- ------------------------- 2024 2023 2024 2023 -------- -------- --------- --------- GAAP net loss per share, diluted $ (0.55) $ (0.93) $ (1.98) $ (2.72) Stock-based compensation expense 0.13 0.22 0.47 0.60 Severance and related charges, net 0.03 -- 0.07 -- ------- ------- -------- -------- Non-GAAP net loss per share, diluted $ (0.39) $ (0.71) $ (1.44) $ (2.12) ======= ======= ======== ======== Reconciliation between GAAP and non-GAAP net loss: Three Months Ended Nine Months Ended September 30, September 30, ----------------------- ------------------------- 2024 2023 2024 2023 -------- -------- --------- --------- GAAP net loss, diluted $(27,940) $(46,180) $(102,338) $(134,197) Stock-based compensation expense 6,388 10,893 24,411 29,536 Severance and related charges, net 1,371 -- 3,797 -- ------- ------- -------- -------- Non-GAAP net loss, diluted $(20,181) $(35,287) $ (74,130) $(104,661) ======= ======= ======== ======== Reconciliation between GAAP and non-GAAP results of operations: Three Months Ended Nine Months Ended September 30, September 30, ----------------------- ------------------------- 2024 2023 2024 2023 -------- -------- --------- --------- GAAP gross profit $ 9,820 $ 7,157 $ 27,817 $ 21,288 Stock-based compensation expense 296 620 1,092 1,381 Severance and related charges, net 317 -- 518 -- ------- ------- -------- -------- Non-GAAP gross profit $ 10,433 $ 7,777 $ 29,427 $ 22,669 ======= ======= ======== ======== GAAP gross margin 34.3 % 23.6 % 33.0 % 21.3 % Stock-based compensation expense 1.0 2.0 1.3 1.4 Severance and related charges, net 1.1 -- 0.6 -- ------- ------- -------- -------- Non-GAAP gross margin 36.4 % 25.6 % 34.9 % 22.7 % ======= ======= ======== ======== GAAP research and development expense $ 8,139 $ 16,076 $ 30,508 $ 44,775 Stock-based compensation expense (1,400) (2,793) (6,025) (8,232) Severance and related charges, net (161) -- (1,124) -- ------- ------- -------- -------- Non-GAAP research and development expense $ 6,578 $ 13,283 $ 23,359 $ 36,543 ======= ======= ======== ======== GAAP sales and marketing expense $ 15,417 $ 24,720 $ 54,593 $ 74,038 Stock-based compensation expense (945) (3,765) (4,898) (9,908) Severance and related charges, net (873) -- (1,765) -- ------- ------- -------- -------- Non-GAAP sales and marketing expense $ 13,599 $ 20,955 $ 47,930 $ 64,130 ======= ======= ======== ======== GAAP general and administrative expense $ 10,103 $ 11,815 $ 34,231 $ 34,892 Stock-based compensation expense (3,747) (3,715) (12,396) (10,015) Severance and related charges, net (20) -- (390) -- ------- ------- -------- -------- Non-GAAP general and administrative expense $ 6,336 $ 8,100 $ 21,445 $ 24,877 ======= ======= ======== ======== GAAP total operating expense $ 33,659 $ 52,611 $ 119,332 $ 153,705 Stock-based compensation expense (6,092) (10,273) (23,319) (28,155) Severance and related charges, net (1,054) -- (3,279) -- ------- ------- -------- -------- Non-GAAP total operating expense $ 26,513 $ 42,338 $ 92,734 $ 125,550 ======= ======= ======== ========