Tearsheet

Outset Medical (OM)


Market Price (6/24/2026): $4.76 | Market Cap: $87.5 MilSector: Health Care | Industry: Life Sciences Tools & Services

Outset Medical (OM)


Market Price (6/24/2026): $4.76
Market Cap: $87.5 Mil
Sector: Health Care
Industry: Life Sciences Tools & Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -63%

Megatrend and thematic drivers
Megatrends include Digital Health & Telemedicine, and Aging Population & Chronic Disease. Themes include Remote Patient Monitoring, Diabetes Management, Show more.

Weak multi-year price returns
2Y Excs Rtn is -126%, 3Y Excs Rtn is -165%

Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 13.21, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -67 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -57%

Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.0%, Rev Chg QQuarterly Revenue Change % is -6.3%

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 14%

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -28%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -29%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -90%

High stock price volatility
Vol 12M is 100%

Key risks
OM key risks include [1] significant regulatory hurdles with the FDA concerning its Tablo system and [2] a heavy reliance on this single flagship product.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -63%
1 Megatrend and thematic drivers
Megatrends include Digital Health & Telemedicine, and Aging Population & Chronic Disease. Themes include Remote Patient Monitoring, Diabetes Management, Show more.
2 Weak multi-year price returns
2Y Excs Rtn is -126%, 3Y Excs Rtn is -165%
3 Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 13.21, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12%
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -67 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -57%
5 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.0%, Rev Chg QQuarterly Revenue Change % is -6.3%
6 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 14%
7 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -28%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -29%
8 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -90%
9 High stock price volatility
Vol 12M is 100%
10 Key risks
OM key risks include [1] significant regulatory hurdles with the FDA concerning its Tablo system and [2] a heavy reliance on this single flagship product.

OM in ETFs

Weight = OM's share of each fund

VTI0.00%
ITOT0.00%
IWM0.00%
IWN0.00%
VTWO0.00%
IWO0.00%
DFAS0.00%
DFAC0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 6/23/2026

Outset Medical (OM) stock has gained about 35% since 2/28/2026 because of the following key factors:

1. Improved Gross Margins and Narrowed Net Loss in Fiscal Q1 2026.

Outset Medical reported its fiscal Q1 2026 results on May 7, 2026, revealing a significant improvement in profitability metrics despite a 6% year-over-year revenue decline to $27.9 million. The company's gross margin expanded by over 600 basis points to 43.4%, with a record product gross margin of 52.4%. Additionally, the non-GAAP net loss narrowed by 32% to $15.4 million, demonstrating enhanced operational efficiency and cost control. This financial improvement, signaling a clearer path towards profitability, was positively received by investors, with the stock rising 3.77% during regular trading and an additional 7.16% in aftermarket sessions following the earnings release.

2. Reaffirmed Full-Year 2026 Financial Guidance.

Despite the fiscal Q1 2026 revenue missing analyst expectations, Outset Medical reaffirmed its full-year 2026 revenue guidance of $125 million to $130 million, representing a 5% to 9% increase over 2025. The company also reiterated its non-GAAP gross margin guidance in the low to mid-40% range. Management expressed confidence in sequential revenue growth during the second half of 2026, citing a robust pipeline and the anticipated impact of the next-generation Tablo system launch. This reaffirmed outlook provided a positive forward-looking perspective and investor reassurance.

Show more
Updated on 6/23/2026

Outset Medical (OM) stock has gained about 35% since 2/28/2026 because of the following key factors:

1. Improved Gross Margins and Narrowed Net Loss in Fiscal Q1 2026.

Outset Medical reported its fiscal Q1 2026 results on May 7, 2026, revealing a significant improvement in profitability metrics despite a 6% year-over-year revenue decline to $27.9 million. The company's gross margin expanded by over 600 basis points to 43.4%, with a record product gross margin of 52.4%. Additionally, the non-GAAP net loss narrowed by 32% to $15.4 million, demonstrating enhanced operational efficiency and cost control. This financial improvement, signaling a clearer path towards profitability, was positively received by investors, with the stock rising 3.77% during regular trading and an additional 7.16% in aftermarket sessions following the earnings release.

2. Reaffirmed Full-Year 2026 Financial Guidance.

Despite the fiscal Q1 2026 revenue missing analyst expectations, Outset Medical reaffirmed its full-year 2026 revenue guidance of $125 million to $130 million, representing a 5% to 9% increase over 2025. The company also reiterated its non-GAAP gross margin guidance in the low to mid-40% range. Management expressed confidence in sequential revenue growth during the second half of 2026, citing a robust pipeline and the anticipated impact of the next-generation Tablo system launch. This reaffirmed outlook provided a positive forward-looking perspective and investor reassurance.

3. Positive Analyst Sentiment and Price Targets.

Throughout the period, Outset Medical maintained a favorable "Buy" consensus rating from analysts, with several reiterating their positive outlook. As of May 8, 2026, the average analyst price target was $8.33, suggesting a substantial upside of approximately 64.95% from the stock's price at that time. This strong analyst confidence, reflecting updated assumptions on revenue growth and profit margins, likely contributed to increased investor interest and upward pressure on the stock price.

4. Strategic Focus on Next-Generation Tablo and Recurring Revenue Growth.

The company's strategic emphasis on its next-generation Tablo Hemodialysis System, which includes enhanced cybersecurity features and is expected to drive demand in the latter half of 2026, underpinned investor optimism for future growth. Furthermore, the stability of recurring revenue from Tablo consumables and services, which was roughly flat year-over-year in fiscal Q1 2026 at $22.5 million, provided a solid foundation. This focus on product innovation and a consistent revenue stream reinforced the company's long-term market position in the dialysis technology sector.

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Stock Movement Drivers

Fundamental Drivers

The 36.4% change in OM stock from 2/28/2026 to 6/23/2026 was primarily driven by a 40.2% change in the company's P/S Multiple.
(LTM values as of)22820266232026Change
Stock Price ($)3.494.7636.4%
Change Contribution By: 
Total Revenues ($ Mil)119118-1.6%
P/S Multiple0.50.740.2%
Shares Outstanding (Mil)1818-1.2%
Cumulative Contribution36.4%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/23/2026
ReturnCorrelation
OM36.4% 
Market (SPY)7.2%27.5%
Sector (XLV)-4.6%25.9%

Fundamental Drivers

The 4.4% change in OM stock from 11/30/2025 to 6/23/2026 was primarily driven by a 10.1% change in the company's P/S Multiple.
(LTM values as of)113020256232026Change
Stock Price ($)4.564.764.4%
Change Contribution By: 
Total Revenues ($ Mil)120118-2.1%
P/S Multiple0.70.710.1%
Shares Outstanding (Mil)1818-3.2%
Cumulative Contribution4.4%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/23/2026
ReturnCorrelation
OM4.4% 
Market (SPY)8.0%27.7%
Sector (XLV)-2.7%14.2%

Fundamental Drivers

The -72.9% change in OM stock from 5/31/2025 to 6/23/2026 was primarily driven by a -61.7% change in the company's Shares Outstanding (Mil).
(LTM values as of)53120256232026Change
Stock Price ($)17.574.76-72.9%
Change Contribution By: 
Total Revenues ($ Mil)1151182.0%
P/S Multiple1.10.7-30.7%
Shares Outstanding (Mil)718-61.7%
Cumulative Contribution-72.9%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/23/2026
ReturnCorrelation
OM-72.9% 
Market (SPY)25.9%26.5%
Sector (XLV)16.8%11.0%

Fundamental Drivers

The -98.5% change in OM stock from 5/31/2023 to 6/23/2026 was primarily driven by a -91.3% change in the company's P/S Multiple.
(LTM values as of)53120236232026Change
Stock Price ($)312.454.76-98.5%
Change Contribution By: 
Total Revenues ($ Mil)118118-0.6%
P/S Multiple8.60.7-91.3%
Shares Outstanding (Mil)318-82.3%
Cumulative Contribution-98.5%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/23/2026
ReturnCorrelation
OM-98.5% 
Market (SPY)82.4%0.8%
Sector (XLV)25.1%1.2%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
OM Return-19%-44%-79%-79%-78%32%-99%
Peers Return-18%-50%35%9%-39%23%-55%
S&P 500 Return27%-19%24%23%16%9%99%

Monthly Win Rates [3]
OM Win Rate50%50%42%58%33%67% 
Peers Win Rate39%39%58%58%31%56% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
OM Max Drawdown-38%-76%-90%-92%-97%-44% 
Peers Max Drawdown-42%-58%-49%-35%-51%-30% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: BAX, DVA, RMTI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/23/2026 (YTD)

How Low Can It Go

EventOMS&P 500
2025 US Tariff Shock
  % Loss-96.1%-18.8%
  % Gain to Breakeven2463.6%23.1%
  Time to Breakeven51 days79 days

Compare to BAX, DVA, RMTI

In The Past

Outset Medical's stock fell -96.1% during the 2025 US Tariff Shock. Such a loss loss requires a 2463.6% gain to breakeven.

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Asset Allocation

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EventOMS&P 500
2025 US Tariff Shock
  % Loss-96.1%-18.8%
  % Gain to Breakeven2463.6%23.1%
  Time to Breakeven51 days79 days

Compare to BAX, DVA, RMTI

In The Past

Outset Medical's stock fell -96.1% during the 2025 US Tariff Shock. Such a loss loss requires a 2463.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Outset Medical (OM)

Outset Medical, Inc. (OM) is a medical technology company dedicated to advancing hemodialysis treatment. The company's core business revolves around developing and providing an innovative system for patients requiring dialysis.

Its flagship product is the Tablo Hemodialysis System. This system stands out due to its compact design, which integrates crucial functionalities like water purification and on-demand dialysate production directly into a single console. Equipped with advanced software and connectivity features, Tablo aims to simplify and improve the dialysis experience.

Outset Medical serves two primary markets: healthcare providers in acute care settings such as hospitals, where the system offers a streamlined approach to inpatient dialysis, and, importantly, individual patients for home-based dialysis. This enables patients to manage their treatment more conveniently and effectively from the comfort of their own homes.

AI Analysis | Feedback

Here are 1-3 brief analogies for Outset Medical (OM):

  • Dyson for dialysis machines

  • Apple for kidney care technology

  • Peloton for home dialysis

AI Analysis | Feedback

  • Tablo Hemodialysis System: A compact console for hemodialysis that integrates water purification, on-demand dialysate production, and connectivity for use in acute and home care settings.

AI Analysis | Feedback

Outset Medical (OM) primarily sells its Tablo Hemodialysis System to other companies, specifically healthcare providers.

While Outset Medical does not publicly disclose the specific names of its major customer companies, its customer base consists primarily of the following types of organizations:

  • Hospitals and Health Systems: These are large organizations comprising multiple hospitals, clinics, and other healthcare facilities that provide acute care, including inpatient dialysis services. This category includes large integrated delivery networks (IDNs).
  • Outpatient Dialysis Clinics and Providers: Specialized healthcare centers dedicated to providing chronic dialysis treatment to patients. These providers facilitate dialysis care in both in-clinic and home settings.

AI Analysis | Feedback

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Leslie Trigg, Chair and CEO

Leslie Trigg has served as CEO of Outset Medical since November 2014 and was elected Chair in 2022. Prior to joining Outset Medical, she was an Executive in Residence at Warburg Pincus, a private equity firm, from March 2012 to March 2014. She also held roles at Lutonix, a medical device company, including Executive Vice President, from January 2010 to February 2012, which was later acquired by CR Bard. Additionally, she served as Chief Business Officer of AccessClosure, another medical device company, from September 2006 to June 2009, which was acquired by Cardinal Health.

Renee Gaeta, Chief Financial Officer

Renee Gaeta was appointed Chief Financial Officer of Outset Medical, effective June 3, 2025. She previously served as CFO of Shockwave Medical from February 2024 until its acquisition by Johnson & Johnson in May 2024. Prior to that, she was the CFO of Eko Health, a cardiopulmonary digital health company, from July 2021 to February 2024. Ms. Gaeta has also served on the board of directors of Candel Therapeutics and previously on the board of SeaSpine Holdings Corporation until it merged with Orthofix Medical.

Michael Aragon, Chief Medical Officer

Michael Aragon has served as Chief Medical Officer, guiding the company's clinical strategy since September 2018. He is board certified in Internal Medicine and Nephrology and was previously the founding partner and President of North Texas Kidney Consultants-DFW for 14 years.

Marc Nash, Executive Vice President of R&D, Operations and Service

Marc Nash has overseen Outset Medical's operations and R&D since 2023. His prior roles at Outset Medical include General Manager of Outset Mexico, Vice President of Manufacturing, and Senior Director of Operations.

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  1. Regulatory Challenges and FDA Scrutiny: Outset Medical faces significant risks related to regulatory compliance and oversight from the Food and Drug Administration (FDA). In 2023, the company received a warning letter from the FDA regarding the marketing of its TabloCart accessory beyond its original clearance, leading to a pause in product shipments and a substantial decline in stock value. Additionally, in May 2024, a Class I recall was initiated for certain Tablo Hemodialysis Systems due to the potential leaching of toxic compounds from silicone tubing, posing serious health consequences for patients. Although some regulatory hurdles are reportedly behind the company, the potential for future issues with new product features or compliance remains a significant concern.

  2. Financial Performance and Path to Profitability: The company faces considerable financial risks, primarily its inability to achieve consistent profitability and its high cash burn rate. Outset Medical experienced a 14.1% year-over-year revenue decline in 2024, and a 13% decrease in the prior year, raising concerns about its ability to achieve sustainable growth. The company is currently consuming substantial amounts of cash to support its sales expansion, manufacturing, and research and development, a financial profile described as "highly speculative" compared to its more profitable competitors. The path to profitability is contingent on accelerating growth, improving gross margins, and effective management execution. There are also ongoing concerns about the potential need for additional financing.

  3. Intense Competition and Market Adoption: Outset Medical operates in a highly competitive global dialysis equipment market dominated by well-established players such as Fresenius Medical Care, Baxter International, and DaVita. While its Tablo Hemodialysis System offers an innovative, portable, and simplified solution with advantages in operational efficiency, ease of use, and cost reduction, its technological lead is not guaranteed as competitors are actively investing in home hemodialysis solutions. The company's success is heavily dependent on the broad market acceptance of Tablo by both healthcare providers and patients, and financial pressures on customers, such as capital budget constraints and staffing shortages, could negatively impact sales. Furthermore, the anticipated expansion of the home hemodialysis market may not materialize as expected, affecting Outset Medical's growth prospects.

AI Analysis | Feedback

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AI Analysis | Feedback

Outset Medical (OM) operates in several addressable markets for its Tablo Hemodialysis System:

  • The global hemodialysis machines market was valued at approximately USD 13.53 billion in 2023 and is projected to grow to USD 17.78 billion by 2030.
  • The global dialysis equipment market was valued at USD 11.66 billion in 2025 and is anticipated to reach USD 18.63 billion by 2035.
  • For the home-based use of its Tablo system, Outset Medical has projected a total addressable market of USD 8.9 billion in the U.S.
  • The acute care market in the U.S. for Tablo also represents a multi-billion dollar opportunity.

AI Analysis | Feedback

Outset Medical (OM) is anticipated to drive future revenue growth over the next two to three years through several key strategies and developments:

  1. Expansion of Tablo Console Installed Base: The company continues to prioritize and achieve growth in its Tablo Hemodialysis System installed base across both acute and home care settings. This expansion directly leads to increased revenue. For instance, the Tablo installed base reached nearly 6,000 consoles, growing 10% in 2024. By the end of 2025, over 1,000 acute care sites in the United States were utilizing Tablo, performing approximately 1 million treatments annually and over 3 million cumulative treatments.
  2. Growth in Recurring Revenue from Consumables and Services: A significant and growing portion of Outset Medical's total revenue comes from recurring streams, specifically from Tablo consumables and service contracts. In 2023, recurring revenue constituted over 50% of total revenue. This trend continued into 2024, with recurring revenue growing 21% to $83.9 million. For 2025, recurring revenue grew 6% to $88.7 million. The company expects recurring revenue to continue to perform well as the installed base grows, contributing to total revenue growth even if console sales remain flat.
  3. Launch of Next-Generation Tablo Platform: A significant future driver is the FDA clearance of its next-generation Tablo platform, which occurred in early 2026, with a commercial launch expected in the second quarter of 2026. This new product introduction is projected to contribute to Outset Medical's revenue growth, with management projecting 5%–9% revenue growth for 2026.
  4. Strategic Insourcing Agreements with Large Health Systems: Outset Medical has secured major new customer agreements, including with one of the largest national health systems in the country, encompassing over 100 facilities, for the insourcing of dialysis. This strategy allows healthcare providers to create in-house dialysis programs, enhancing operational and clinical outcomes and representing a substantial growth opportunity for Outset Medical.
  5. Deepening Penetration in Acute and Home Dialysis Markets: The company is focused on expanding the Tablo footprint in both acute and home care settings. This includes adding new accounts in the acute and subacute settings, as well as deepening the patient census and volume in existing home programs and attracting new market entrants to home dialysis. This dual-market penetration is a consistent theme in their growth strategy.

AI Analysis | Feedback

Outset Medical (OM) has made the following capital allocation decisions over the last 3-5 years:

Share Issuance

  • In April 2021, Outset Medical completed a public offering, selling 2,945,864 shares of its common stock at $53.50 per share, resulting in net proceeds of approximately $149.7 million to the company.
  • The company has historically financed its operations and capital expenditures through the sale of common stock and redeemable convertible preferred stock.
  • In Q1 2025, the company secured $169 million in equity financing, which, along with debt restructuring, bolstered its financial stability.

Inbound Investments

  • Outset Medical has primarily financed its operations and capital expenditures through various means, including sales of redeemable convertible preferred stock and common stock, as well as debt financing.
  • The company recapitalized with new capital in 2025 to fund operations through cash flow breakeven and beyond.
  • Outset Medical benefited from $169 million in equity financing in Q1 2025, enhancing its financial runway.

Capital Expenditures

  • For the nine months ended September 30, 2024, capital expenditures for purchases of property and equipment were $869 thousand, a decrease from $2.387 million in the comparable prior-year period.
  • In the last 12 months leading up to March 2026, capital expenditures amounted to approximately $798,000.
  • In Q4 2025, Outset Medical invested $223K in capital expenditures, primarily focused on funding long-term assets and infrastructure.

Better Bets vs. Outset Medical (OM)

Latest Trefis Analyses

Title
0ARTICLES

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

OMBAXDVARMTIMedian
NameOutset M.Baxter I.DaVita Rockwell. 
Mkt Price4.7620.10210.930.6712.43
Mkt Cap0.110.414.20.05.2
Rev LTM11811,32013,835685,719
Op Inc LTM-671852,051-590
FCF LTM-347141,4932358
FCF 3Y Avg-896461,391-1322
CFO LTM-341,2512,0273627
CFO 3Y Avg-871,1081,942-1554

Growth & Margins

OMBAXDVARMTIMedian
NameOutset M.Baxter I.DaVita Rockwell. 
Rev Chg LTM2.0%5.1%6.7%-30.7%3.6%
Rev Chg 3Y Avg-0.0%4.6%5.9%-1.5%2.3%
Rev Chg Q-6.3%2.9%6.0%-8.3%-1.7%
QoQ Delta Rev Chg LTM-1.6%0.7%1.4%-2.3%-0.5%
Op Inc Chg LTM27.6%-51.6%5.4%-941.1%-23.1%
Op Inc Chg 3Y Avg24.5%1,102.3%17.5%-263.0%21.0%
Op Mgn LTM-57.2%1.6%14.8%-7.1%-2.7%
Op Mgn 3Y Avg-89.4%3.4%14.6%-4.7%-0.6%
QoQ Delta Op Mgn LTM-1.3%0.1%0.1%-0.3%-0.1%
CFO/Rev LTM-28.5%11.1%14.7%3.9%7.5%
CFO/Rev 3Y Avg-72.6%9.8%14.8%-0.7%4.6%
FCF/Rev LTM-29.1%6.3%10.8%2.6%4.5%
FCF/Rev 3Y Avg-73.8%5.7%10.6%-1.6%2.1%

Valuation

OMBAXDVARMTIMedian
NameOutset M.Baxter I.DaVita Rockwell. 
Mkt Cap0.110.414.20.05.2
P/S0.70.91.00.40.8
P/Op Inc-1.356.06.9-5.52.8
P/EBIT-1.5-46.87.1-6.2-3.8
P/E-1.2-9.418.2-4.9-3.0
P/CFO-2.68.37.09.97.6
Total Yield-85.6%-8.0%5.5%-20.5%-14.2%
Dividend Yield0.0%2.6%0.0%0.0%0.0%
FCF Yield 3Y Avg-657.3%4.7%12.2%-2.1%1.3%
D/E1.20.90.90.50.9
Net D/E-0.60.70.9-0.40.2

Returns

OMBAXDVARMTIMedian
NameOutset M.Baxter I.DaVita Rockwell. 
1M Rtn10.2%4.9%6.3%-15.8%5.6%
3M Rtn34.8%20.3%37.6%-35.2%27.6%
6M Rtn43.4%6.3%83.9%-18.2%24.8%
12M Rtn-72.6%-32.4%54.7%-23.3%-27.9%
3Y Rtn-98.5%-52.5%115.8%-84.9%-68.7%
1M Excs Rtn12.8%6.8%7.3%-16.5%7.0%
3M Excs Rtn19.8%9.2%26.7%-46.5%14.5%
6M Excs Rtn23.1%-3.2%72.9%-30.2%10.0%
12M Excs Rtn-98.3%-55.8%30.6%-48.4%-52.1%
3Y Excs Rtn-165.0%-118.3%50.4%-150.8%-134.6%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Consumables5451422919
Service and other revenue3533272218
Consoles3130616565
Total119114130115103


Price Behavior

Price Behavior
Market Price$4.76 
Market Cap ($ Bil)0.1 
First Trading Date09/15/2020 
Distance from 52W High-77.2% 
   50 Days200 Days
DMA Price$4.40$6.52
DMA Trenddownup
Distance from DMA8.2%-27.0%
 3M1YR
Volatility96.9%100.3%
Downside Capture105.89250.95
Upside Capture167.2236.08
Correlation (SPY)19.9%25.6%
OM Betas & Captures as of 5/31/2026

 1M2M3M6M1Y3Y
Beta0.171.041.642.122.230.58
Up Beta-0.640.571.081.292.280.63
Down Beta4.912.952.163.114.156.68
Up Capture55%134%232%226%17%20%
Bmk +ve Days13283667141432
Stock +ve Days11233563117344
Down Capture-348%32%119%187%175%113%
Bmk -ve Days7132757109318
Stock -ve Days9152456127390

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with OM
OM-74.9%100.6%-0.86-
Sector ETF (XLV)16.9%15.1%0.8310.4%
Equity (SPY)24.6%12.5%1.4826.0%
Gold (GLD)21.8%27.6%0.7010.3%
Commodities (DBC)16.7%18.8%0.692.8%
Real Estate (VNQ)12.3%13.8%0.6020.9%
Bitcoin (BTCUSD)-38.0%42.5%-1.0119.9%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with OM
OM-63.4%876.9%0.36-
Sector ETF (XLV)5.8%14.8%0.212.1%
Equity (SPY)13.1%17.1%0.592.2%
Gold (GLD)16.8%18.3%0.74-0.5%
Commodities (DBC)7.3%19.4%0.280.6%
Real Estate (VNQ)2.4%18.9%0.032.9%
Bitcoin (BTCUSD)9.7%54.1%0.38-1.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with OM
OM-40.8%818.2%0.33-
Sector ETF (XLV)9.8%16.6%0.482.0%
Equity (SPY)15.3%18.0%0.732.2%
Gold (GLD)11.9%16.1%0.61-0.5%
Commodities (DBC)5.9%18.0%0.250.6%
Real Estate (VNQ)5.5%20.7%0.232.8%
Bitcoin (BTCUSD)57.0%66.5%0.97-1.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date5292026
Short Interest: Shares Quantity2.2 Mil
Short Interest: % Change Since 51520268.2%
Average Daily Volume0.2 Mil
Days-to-Cover Short Interest13.2 days
Basic Shares Quantity18.4 Mil
Short % of Basic Shares12.1%

Earnings Returns History

Updated 6/17/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/7/2026-21.0%-18.6%-7.7%
2/11/2026-16.3%-22.2%-28.3%
11/10/2025-48.5%-59.2%-64.5%
8/6/20257.7%0.3%6.4%
5/7/202535.3%57.6%78.3%
2/19/20252.1%-18.7%-20.0%
11/6/202425.2%45.2%93.5%
8/7/2024-68.5%-75.5%-85.6%
...
SUMMARY STATS   
# Positive121213
# Negative111110
Median Positive8.3%14.8%18.8%
Median Negative-16.3%-18.6%-26.4%
Max Positive35.3%70.3%97.3%
Max Negative-68.5%-75.5%-85.6%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/7/2026-21.0%-18.6%-7.7%
2/11/2026-16.3%-22.2%-28.3%
11/10/2025-48.5%-59.2%-64.5%
8/6/20257.7%0.3%6.4%
5/7/202535.3%57.6%78.3%
2/19/20252.1%-18.7%-20.0%
11/6/202425.2%45.2%93.5%
8/7/2024-68.5%-75.5%-85.6%
5/8/2024-20.8%-13.8%9.0%
2/21/20246.2%8.1%-34.9%
11/7/2023-14.4%15.1%32.5%
8/2/2023-10.2%-16.9%-29.7%
5/3/20233.2%2.9%9.9%
1/9/20233.9%4.9%15.1%
11/8/202229.9%70.3%97.3%
8/1/202226.9%23.5%18.8%
6/13/2022-34.1%-29.8%-20.8%
2/16/202213.8%26.8%27.4%
11/3/2021-2.2%-11.0%-24.5%
8/5/20212.2%-2.7%26.9%
5/5/2021-8.1%-18.5%-16.7%
3/9/20219.0%2.5%14.8%
11/12/2020-0.1%14.6%2.6%
SUMMARY STATS   
# Positive121213
# Negative111110
Median Positive8.3%14.8%18.8%
Median Negative-16.3%-18.6%-26.4%
Max Positive35.3%70.3%97.3%
Max Negative-68.5%-75.5%-85.6%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/07/202610-Q
12/31/202502/13/202610-K
09/30/202511/10/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202402/28/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202302/21/202410-K
09/30/202311/08/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202202/13/202310-K
09/30/202211/09/202210-Q
06/30/202208/02/202210-Q
Collapse to Preview
Report DateFiling DateFiling
03/31/202605/07/202610-Q
12/31/202502/13/202610-K
09/30/202511/10/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202402/28/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202302/21/202410-K
09/30/202311/08/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202202/13/202310-K
09/30/202211/09/202210-Q
06/30/202208/02/202210-Q
03/31/202205/05/202210-Q
12/31/202102/23/202210-K
09/30/202111/04/202110-Q
06/30/202108/06/202110-Q
03/31/202105/06/202110-Q
12/31/202003/22/202110-K
09/30/202011/12/202010-Q
06/30/202009/16/2020424B4

Recent Forward Guidance

Updated 6/1/2026

Latest: Q1 2026 Earnings Reported 5/7/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Revenue125.00 Mil127.50 Mil130.00 Mil0 AffirmedGuidance: 127.50 Mil for 2026
2026 Revenue Growth5.0%7.0%9.0%0 AffirmedGuidance: 7.0% for 2026
2026 Non-GAAP Gross Margin40.0%42.5%45.0%00AffirmedGuidance: 42.5% for 2026

Prior: Q4 2025 Earnings Reported 2/11/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Revenue125.00 Mil127.50 Mil130.00 Mil8.5% Higher NewGuidance: 117.50 Mil for 2025
2026 Revenue Growth5.0%7.0%9.0%   
2026 Non-GAAP Gross Margin40.0%42.5%45.0%   

Insider Activity

Updated 6/5/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Gaeta, ReneeChief Financial OfficerDirectSell60520264.9417,67287,300561,940Form
2Trigg, LeslieChair and CEODirectSell51920263.703,44512,746365,834Form
3Nash, MarcEVP Operations R&D & ServiceDirectSell51920263.701,5825,853142,054Form
4Brottem, John LGeneral CounselDirectSell51920263.702,6389,761112,025Form
5Brottem, John LGeneral CounselDirectSell21920263.352,8429,521110,332Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Gaeta, ReneeChief Financial OfficerDirectSell60520264.9417,67287,300561,940Form
2Trigg, LeslieChair and CEODirectSell51920263.703,44512,746365,834Form
3Nash, MarcEVP Operations R&D & ServiceDirectSell51920263.701,5825,853142,054Form
4Brottem, John LGeneral CounselDirectSell51920263.702,6389,761112,025Form
5Brottem, John LGeneral CounselDirectSell21920263.352,8429,521110,332Form
6Trigg, LeslieChair and CEODirectSell21920263.353,36111,259342,846Form
7Nash, MarcEVP Operations R&D & ServiceDirectSell21920263.351,8176,087133,960Form
8Nash, MarcEVP Operations R&D & ServiceDirectSell12120264.989804,880208,189Form
9Brottem, John LGeneral CounselDirectSell12120265.011,1805,912179,243Form
10Trigg, LeslieChair and CEODirectSell12120265.052,12010,706533,800Form
11Nash, MarcEVP Operations R&D & ServiceDirectSell12120265.125,37527,520219,059Form
12Brottem, John LGeneral CounselDirectSell12120265.129,31447,688189,220Form
13Trigg, LeslieChair and CEODirectSell12120265.1211,79460,385552,054Form
14Drexler, Karen DirectSell120220254.371,5486,76546,540Form
15Trigg, LeslieChair and CEODirectSell111820254.609164,214558,495Form
16Nash, MarcEVP Operations R&D & ServiceDirectSell111820254.602471,136222,033Form
17Brottem, John LGeneral CounselDirectSell111820254.603881,785213,877Form
18Trigg, LeslieChair and CEODirectSell818202512.8890411,6441,575,585Form
19Nash, MarcSVP Operations and R&DDirectSell818202512.882433,130552,526Form
20Brottem, John LGeneral CounselDirectSell818202512.883834,933603,853Form
Core Cache Last Updated: 6/23/2026