Outset Medical, Inc. (OM) Earnings
Outset Medical, Inc. is expected to report next earnings on August 5, 2026 (in NaN days), with a consensus EPS estimate of $-0.72. OM has beaten EPS estimates in 6 of its last 12 reported quarters (average surprise -82.5% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $-0.79 | $-0.83 | -5.1% | $28M | -3.5% |
| Feb 11, 2026 | $-0.45 | $-1.09 | -143.1% | $29M | -0.1% |
| Aug 6, 2025 | $-1.76 | $-0.84 | +52.3% | $31M | +6.8% |
| May 7, 2025 | $-0.97 | $-3.24 | -234.0% | $30M | +7.0% |
| Feb 19, 2025 | $-6.45 | $-5.55 | +14.0% | $29M | +3.5% |
| Feb 21, 2024 | $-9.15 | $-8.85 | +3.3% | $31M | +0.4% |
| Aug 2, 2023 | $-10.94 | $-10.34 | +5.5% | $36M | -4.0% |
| May 3, 2023 | $-10.34 | $-10.79 | -4.4% | $33M | +5.4% |
| Feb 13, 2023 | $-11.39 | $-10.64 | +6.6% | $32M | +3.5% |
| May 4, 2022 | $-9.90 | $-10.04 | -1.4% | $31M | +1.5% |
| Feb 16, 2022 | $-10.04 | $-11.54 | -14.9% | $28M | +6.5% |
| Nov 3, 2021 | $-9.75 | $-8.85 | +9.2% | $26M | +4.6% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- First quarter reflected consistent execution across console utilization, new customer additions, gross margin expansion, and disciplined cash management. - Variability in capital order timing impacted capital sales but confidence in growth plan remains. - Upcoming launch of next generation Tableau, deep sales pipeline, and new commercial leader Derek Elliott. - Key wins during the quarter with successful go-live implementations. - Service and implementation teams extend clinical expertise. - Well prepared for initial transition to next-generation Tableau later in the quarter, which meets FDA cybersecurity requirements and has strong reception in early customer discussions. - Reiterate strong cash position and focus on reaching profitability, with progress in supply chain, manufacturing, service organization, and partnerships.
Guidance
- Continue to expect revenue to be in the range of $125 to $130 million, a 5% to 9% increase over 2025, with majority of growth in third and fourth quarters. - Non-GAAP gross margins expected to be in the low to mid 40% range for the full year, balancing console shipment and consumables mix factors.
Segment performance
Revenue in the first quarter was $27.9 million, down slightly from the fourth quarter due to capital sales lumpiness. Product revenue was $18.6 million, down 13%. Capital sales were $5.4 million, consumable sales were $13.2 million, and service and other revenue was $9.3 million, up 10%. Non-GAAP gross margin expanded 620 basis points to 43.8% for the quarter. Product gross margin increased 400 basis points to 52.4%. Service and other gross margin was 26.7%, increasing sequentially and growing over 1,600 basis points compared to the prior year.
Analyst Q&A
Q: Rick Wise asked about capital order variability and quarterly phasing.
A: Leslie Trigg and Renee Guyetta responded that capital order lumpiness is around close timing, with delayed deals expected to close in Q2-Q4, Q2 expected to be a modest step up with sequential step up in each quarter.
Q: Colin Clark asked about confidence in large orders in the pipeline.
A: Leslie Trigg said confidence is informed by deal staging, historical data on probability of close, and next-generation Tableau launch as a demand driver.
Q: Colin Clark also asked about next-gen system accelerating trade-in timelines and bi-directional integration.
A: Leslie Trigg said next-gen system could accelerate trade-in timelines and there's potential for bi-directional data transfer with EMR, which would be an incremental revenue opportunity for recurring revenue.