Overview
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- TickerOM on Nasdaq1
- IndustryElectromedical & Electrotherapeutic Apparatus1
- HeadquartersSan Jose, California1
- Incorporated inDE3
- Business address3052 Orchard Drive, San Jose, Ca 951343
- Filer categoryAccelerated filer, Smaller reporting company3
- Legal formCorporation
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Outset is a medical technology company pioneering a first-of-its-kind technology to improve clinical outcomes in dialysis with less cost and complexity. We believe the Tablo® Hemodialysis System (Tablo) represents a significant technological advancement that transforms the dialysis experience for patients and operationally simplifies it for providers. We designed Tablo from the ground up to be a single enterprise solution that can be utilized across the continuum of care, allowing dialysis to be delivered anytime, anywhere and by virtually anyone. Tablo is currently cleared by the U.S. Food and Drug Administration (FDA) for use in the hospital, clinic or home setting. Our technology is designed to elevate the dialysis experience for patients, and help providers overcome traditional care delivery challenges. Our focus on flexibility, ease of use, data analytics and user experience transla…4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
39.1%Gross margin5
-55.8%Operating margin5
-68.3%Net margin5
5.1%Revenue growth, 20255
-64.3%Return on equity5
0.76×Debt to equity5
-$47.1MFree cash flow5
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Consumables Product brought in 45% of the revenue Outset Medical, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Consumables Product | $42.2M | $51.1M | $54.1M |
| Service and Other Revenue | $26.8M | $32.7M | $34.7M |
| Consoles Product | $61.3M | $29.8M | $30.7M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue61¢$72.7M
- Research and development18¢$21.2M
- Other costs9¢$10.8M
- Interest12¢$14.0M
- Income tax1¢$718.0K
Out of $119.5M in revenue.5 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue | $119.5M | $113.7M | $130.4M |
| Cost of revenue | $72.7M | $75.1M | $101.4M |
| Gross profit | $46.8M | $38.6M | $29.0M |
| Research and development | $21.2M | $38.4M | $57.3M |
| Sales and marketing | $54.4M | $70.0M | $96.2M |
| General and administrative | $37.9M | $43.5M | $45.2M |
| Total operating expenses | $113.5M | $151.9M | $198.8M |
| Loss from operations | -$66.7M | -$113.4M | -$169.8M |
| Interest income and other income, net | $7.4M | $9.8M | $10.2M |
| Interest expense | -$14.0M | -$23.9M | -$12.7M |
| Loss on extinguishment of term loan | -$7.7M | $0 | $0 |
| Loss before provision for income taxes | -$80.9M | -$127.5M | -$172.3M |
| Provision for income taxes | $718.0K | $491.0K | $523.0K |
| Net loss | -$81.7M | -$128.0M | -$172.8M |
| Net loss per share, basic | -$5.37 | -$36.96 | -$52.28 |
| Net loss per share, diluted | -$5.37 | -$36.96 | -$52.28 |
| Shares used in computing net loss per share, basic | 15.2K shares | 3.5K shares | 3.3K shares |
| Shares used in computing net loss per share, diluted | 15.2K shares | 3.5K shares | 3.3K shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $35.0M | $124.0M | ||
| Short-term investments | $133.9M | $34.7M | ||
| Accounts receivable, net | $28.3M | $35.6M | ||
| Inventories | $47.6M | $59.4M | ||
| Prepaid expenses and other current assets | $6.0M | $4.5M | ||
| Total current assets | $250.9M | $258.2M | ||
| Restricted cash | $3.8M | $3.3M | ||
| Property and equipment, net | $4.7M | $8.1M | ||
| Operating lease right-of-use assets | $4.8M | $3.9M | ||
| Other assets | $317.0K | $2.2M | ||
| Total assets | $264.5M | $275.8M | ||
| Accounts payable | $554.0K | $3.9M | ||
| Accrued compensation and related benefits | $10.7M | $16.8M | ||
| Accrued expenses and other current liabilities | $9.4M | $8.2M | ||
| Accrued warranty liability | $1.4M | $1.9M | $3.7M | |
| Deferred revenue, current | $13.8M | $12.8M | ||
| Operating lease liabilities, current | $1.7M | $1.8M | ||
| Total current liabilities | $37.6M | $45.4M | ||
| Accrued interest | $0 | $2.7M | ||
| Deferred revenue | $406.0K | $844.0K | ||
| Operating lease liabilities | $3.3M | $2.7M | ||
| Term loans | $96.2M | $197.4M | ||
| Total liabilities | $137.5M | $249.0M | ||
| Preferred stock, $0.001 par value; 5,000 shares authorized, and no shares issued and outstanding as of December 31, 2025 and 2024 | $0 | $0 | ||
| Common stock, $0.001 par value; 300,000 shares authorized as of December 31, 2025 and 2024; 18,169 and 3,530 shares issued and outstanding as of December 31, 2025 and December 31, 2024 respectively | $18.0K | $4.0K | ||
| Additional paid-in capital | $1.3B | $1.1B | ||
| Accumulated other comprehensive income | $172.0K | $42.0K | ||
| Accumulated deficit | -$1.2B | -$1.1B | ||
| Total stockholders' equity | $127.0M | $26.8M | $122.9M | $246.0M |
| Total liabilities and stockholders' equity | $264.5M | $275.8M | ||
| Preferred stock, par value | $0.00 | $0.00 | ||
| Preferred stock, shares authorized | 5.0M shares | 5.0M shares | ||
| Preferred stock, shares issued | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding | 0 shares | 0 shares | ||
| Common stock, par value | $0.00 | $0.00 | ||
| Common stock, shares authorized | 300.0M shares | 300.0M shares | ||
| Common stock, shares issued | 18.2M shares | 3.5M shares | ||
| Common stock, shares outstanding | 18.2M shares | 3.5M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $35.0M | $124.0M | ||
| Short-term investments | $133.9M | $34.7M | ||
| Accounts receivable, net | $28.3M | $35.6M | ||
| Inventories | $47.6M | $59.4M | ||
| Prepaid expenses and other current assets | $6.0M | $4.5M | ||
| Total current assets | $250.9M | $258.2M | ||
| Restricted cash | $3.8M | $3.3M | ||
| Property and equipment, net | $4.7M | $8.1M | ||
| Operating lease right-of-use assets | $4.8M | $3.9M | ||
| Other assets | $317.0K | $2.2M | ||
| Total assets | $264.5M | $275.8M | ||
| Accounts payable | $554.0K | $3.9M | ||
| Accrued compensation and related benefits | $10.7M | $16.8M | ||
| Accrued expenses and other current liabilities | $9.4M | $8.2M | ||
| Accrued warranty liability | $1.4M | $1.9M | $3.7M | |
| Deferred revenue, current | $13.8M | $12.8M | ||
| Operating lease liabilities, current | $1.7M | $1.8M | ||
| Total current liabilities | $37.6M | $45.4M | ||
| Accrued interest | $0 | $2.7M | ||
| Deferred revenue | $406.0K | $844.0K | ||
| Operating lease liabilities | $3.3M | $2.7M | ||
| Term loans | $96.2M | $197.4M | ||
| Total liabilities | $137.5M | $249.0M | ||
| Preferred stock, $0.001 par value; 5,000 shares authorized, and no shares issued and outstanding as of December 31, 2025 and 2024 | $0 | $0 | ||
| Common stock, $0.001 par value; 300,000 shares authorized as of December 31, 2025 and 2024; 18,169 and 3,530 shares issued and outstanding as of December 31, 2025 and December 31, 2024 respectively | $18.0K | $4.0K | ||
| Additional paid-in capital | $1.3B | $1.1B | ||
| Accumulated other comprehensive income | $172.0K | $42.0K | ||
| Accumulated deficit | -$1.2B | -$1.1B | ||
| Total stockholders' equity | $127.0M | $26.8M | $122.9M | $246.0M |
| Total liabilities and stockholders' equity | $264.5M | $275.8M | ||
| Preferred stock, par value | $0.00 | $0.00 | ||
| Preferred stock, shares authorized | 5.0M shares | 5.0M shares | ||
| Preferred stock, shares issued | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding | 0 shares | 0 shares | ||
| Common stock, par value | $0.00 | $0.00 | ||
| Common stock, shares authorized | 300.0M shares | 300.0M shares | ||
| Common stock, shares issued | 18.2M shares | 3.5M shares | ||
| Common stock, shares outstanding | 18.2M shares | 3.5M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$81.7M | -$128.0M | -$172.8M |
| Stock-based compensation expense | $15.6M | $29.4M | $38.6M |
| Depreciation and amortization | $4.3M | $5.7M | $5.8M |
| Non-cash lease expense | $1.6M | $1.4M | $1.3M |
| Non-cash interest expense | $2.8M | $2.6M | $1.8M |
| Amortization of premium on investments, net | -$2.3M | -$4.7M | -$6.4M |
| Change in provision for inventories | -$124.0K | $561.0K | $733.0K |
| Change in provision for credit losses | $3.5M | $2.4M | $184.0K |
| Loss on disposal of property and equipment | $5.0K | $53.0K | $106.0K |
| Loss on extinguishment of term loan | $7.7M | $0 | $0 |
| Accounts receivable | $3.8M | -$5.0M | -$5.1M |
| Inventories | $11.8M | -$10.9M | $1.6M |
| Prepaid expenses and other assets | -$940.0K | $784.0K | $739.0K |
| Accounts payable | -$3.3M | -$1.9M | $5.3M |
| Accrued compensation and related benefits | -$6.1M | -$1.9M | -$2.5M |
| Accrued expenses and other current liabilities | $1.5M | -$5.2M | -$2.6M |
| Accrued warranty liability | -$564.0K | -$1.8M | $91.0K |
| Deferred revenue | $604.0K | $1.8M | $3.0M |
| Operating lease liabilities | -$1.9M | -$1.6M | -$1.3M |
| Accrued interest | -$2.7M | $0 | $0 |
| Net cash used in operating activities | -$46.3M | -$116.3M | -$131.4M |
| Purchases of property and equipment | -$798.0K | -$912.0K | -$3.4M |
| Purchases of investment securities | -$222.0M | -$156.6M | -$172.3M |
| Sales and maturities of investment securities | $125.1M | $261.4M | $258.8M |
| Net cash (used in) provided by investing activities | -$97.7M | $103.9M | $83.0M |
| Proceeds from stock option exercises and ESPP purchases | $639.0K | $2.3M | $10.4M |
| Proceeds from issuance of term loans, net of issuance costs | $98.3M | $66.5M | $33.2M |
| Repayment of term loan and extinguishment costs | -$205.0M | $0 | $0 |
| Proceeds from issuance of Series A convertible preferred stock, net of issuance costs | $161.5M | $0 | $0 |
| Payment of deferred financing costs | $0 | -$938.0K | $0 |
| Net cash provided by financing activities | $55.5M | $67.9M | $43.7M |
| Net (decrease) increase in cash, cash equivalents and restricted cash | -$88.5M | $55.5M | -$4.7M |
| Cash paid for income taxes | $447.0K | $593.0K | $491.0K |
| Cash paid for interest | $15.6M | $20.7M | $10.8M |
| Cash paid for amounts included in the measurement of operating lease liabilities | $1.9M | $1.6M | $1.3M |
| Transfer of inventories to property and equipment | $109.0K | $148.0K | $119.0K |
| Right-of-use assets obtained in exchange for operating lease liabilities | $2.4M | $0 | $528.0K |
| Fair value of common stock warrant | $4.4M | $0 | $0 |
| Issuance costs included in accrued expenses | $0 | $266.0K | $0 |
| Capital expenditures included in accounts payable and accrued expenses | $0 | $31.0K | $159.0K |
No quarter-by-quarter statement was filed.
Corporate structure
Outset Medical, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Outset Medical, Inc.
- BML Investment Partners, L.P. Filed SCHEDULE 13G/A on Outset Medical, Inc., latest Oct 6, 2026 (5 filings since Jan 14, 2026)
- AQR CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on Outset Medical, Inc., latest Aug 12, 2026
- Bank of America Filed SCHEDULE 13G/A on Outset Medical, Inc., latest Aug 12, 2026 (2 filings since Feb 11, 2026)
- BlackRock Filed SCHEDULE 13G/A on Outset Medical, Inc., latest Jul 29, 2026 (8 filings since Oct 8, 2021)
- Alyeska Investment Group, L.P. Filed SCHEDULE 13G/A on Outset Medical, Inc., latest May 15, 2026 (2 filings since May 15, 2025)
- Woodline Partners LP Filed SCHEDULE 13G/A on Outset Medical, Inc., latest May 15, 2026 (2 filings since May 15, 2025)
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on Outset Medical, Inc., latest Mar 27, 2026 (8 filings since Feb 10, 2022)
- Durable Capital Partners LP Filed SCHEDULE 13G/A on Outset Medical, Inc., latest Feb 17, 2026 (3 filings since Jan 10, 2025)
- PFM Health Sciences, LP Filed SCHEDULE 13G/A on Outset Medical, Inc., latest Feb 17, 2026 (4 filings since Feb 14, 2022)
- T. Rowe Price Investment Management, Inc. Filed SCHEDULE 13G/A on Outset Medical, Inc., latest Nov 14, 2025 (4 filings since Feb 14, 2023)
- PERCEPTIVE ADVISORS LLC Filed SCHEDULE 13G/A on Outset Medical, Inc., latest May 15, 2025 (3 filings since Feb 15, 2022)
- FMR LLC Filed SCHEDULE 13G/A on Outset Medical, Inc., latest Apr 7, 2025 (6 filings since Feb 9, 2022)
- Outset Medical, Inc. San Jose, California
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Outset Medical, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $29.6M5 Dec 31, 2025 | $29.2M5 Dec 31, 2024 | +1.4% |
| Accumulated depreciation | $24.9M5 Dec 31, 2025 | $21.0M5 Dec 31, 2024 | +18.4% |
| Property and equipment, net | $4.7M5 Dec 31, 2025 | $8.1M5 Dec 31, 2024 | −42.6% |
| Operating-lease assets (leased space) | $4.8M5 Dec 31, 2025 | $3.9M5 Dec 31, 2024 | +21.8% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $35.0M5 Dec 31, 2025 | $124.0M5 Dec 31, 2024 | −71.8% |
| Marketable securities, current | $133.9M5 Dec 31, 2025 | $34.7M5 Dec 31, 2024 | +286.3% |
Inventory
| Item | Latest | A year before | Change |
|---|---|---|---|
| Inventory, total | $47.6M5 Dec 31, 2025 | $59.4M5 Dec 31, 2024 | −19.8% |
| Raw materials | $27.2M5 Dec 31, 2025 | $25.7M5 Dec 31, 2024 | +5.8% |
| Work in process | $7.3M5 Dec 31, 2025 | $10.0M5 Dec 31, 2024 | −26.6% |
| Finished goods | $13.1M5 Dec 31, 2025 | $23.7M5 Dec 31, 2024 | −44.7% |
Properties, in its own words
We currently lease 40,413 square feet of office space for our corporate headquarters located in San Jose, California under a lease agreement that terminates in 2027. This facility supports research and development and general and administrative activities. In Tijuana, Mexico, we also lease 87,187 square feet of space for our manufacturing facility under a lease agreement that will expire in 2026 (or 2031 if and when our renewal option is exercised and mutually agreed) and 7,739 square feet of office space for certain research and development and general and administrative activities under a lease agreement that will expire in 2028.
We believe that these facilities are suitable and sufficient to meet our current and anticipated needs in the near term and that additional space can be obtained on commercially reasonable terms as needed.
Item 2 of the 10-K filed Feb 13, 2026.4
Leadership
Who has led Outset Medical, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chair
President
Chief financial officer
Chief operating officer
2025
- Chief executive officerLeslie Trigg Sep 14, 2020 to now13
- ChairLeslie Trigg Mar 2, 2022 to now14
- PresidentLeslie Trigg Sep 14, 2020 to Jun 2, 202113
- Chief financial officerRenee Gaeta Jun 3, 2025 to now15
- Chief financial officerNabeel Ahmed Jul 19, 2021 to Jun 3, 202516
- Chief financial officerRebecca Chambers Sep 14, 2020 to Jun 25, 202117
- Chief operating officerMartin Vazquez Sep 14, 2020 to Mar 2, 202318
Board members and other officers (22)
- EVP, CommercialDerick A. Elliott Apr 8, 2026 to now19
- VP ManufacturingMarc Nash Jul 24, 2023 to now20
- Chief Technology OfficerJean-Olivier Racine Jun 23, 2021 to May 10, 202421
- VP FinanceNabeel Ahmed Aug 11, 2021 to Aug 11, 202122
- Chief People OfficerStacey L. Porter Oct 21, 2021 to Jan 17, 202423
- Board memberKaren Prange Jan 12, 2026 to now24
- Board memberKevin C. Oboyle May 14, 2025 to now25
- Board memberBrent D. Lang Mar 13, 2024 to now26
- Board memberDale E. Jones Apr 25, 2022 to May 29, 202427
- Board memberKaren Drexler Jan 12, 2021 to now28
- Board memberAndrea L. Saia Mar 24, 2021 to now29
- Board memberCatherine M. Szyman May 24, 2021 to May 31, 202330
- Board memberAli Osman Sep 14, 2020 to Sep 14, 202031
- Board memberD. Keith Grossman Sep 14, 2020 to now32
- Board memberGp L.p. Wpx Sep 14, 2020 to Jan 7, 202133
- Board memberJames F. Hinrichs Sep 14, 2020 to May 29, 202434
- Board memberLeslie Trigg Sep 14, 2020 to Feb 3, 202213
- Board memberPatrick T. Hackett Sep 14, 2020 to now35
- Board memberPincus X. L.p. Warburg Sep 14, 2020 to Jan 7, 202133
- Board memberThomas J. Carella Sep 14, 2020 to Sep 14, 202036
- Board memberX. Finance L.p. Wp Sep 14, 2020 to Jan 7, 202133
- General counselJohn L. Brottem Sep 14, 2020 to now37
Former names
- Home Dialysis Plus, Ltd.Feb 26, 2010 to Feb 25, 20113
Timeline
- Aug 28, 20268-K Executive or director change38
- Aug 6, 20268-K Results of operations39
- Jun 17, 20268-K Entered a material agreement; Results of operations40
- Jun 5, 20268-K Shareholder vote41
- May 29, 20268-K Executive or director change42
- May 7, 20268-K Results of operations43
- Feb 11, 20268-K Results of operations44
- Jan 27, 20268-K Other events45
- Jan 12, 20268-K Results of operations; Executive or director change; Regulation FD disclosure46
- Nov 10, 20258-K Results of operations47
- Aug 6, 20258-K Results of operations48
- Jun 3, 20258-K Executive or director change; Shareholder vote; Regulation FD disclosure49
- Sep 14, 2020New chief executive Leslie Trigg becomes CEO13
Calendar
Coming up
- Nov 9, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.98) a share, on Nov 10, 2025.50
When it reported results
- Aug 6, 2026Reported quarterly or annual results39
- Jun 17, 2026Reported quarterly or annual results40
- May 7, 2026Reported quarterly or annual results43
- Feb 11, 2026Reported quarterly or annual results44
- Jan 12, 2026Reported quarterly or annual results46
- Nov 10, 2025Reported quarterly or annual results47
- Aug 6, 2025Reported quarterly or annual results48
- May 7, 2025Reported quarterly or annual results51
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
576 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 52 major events, 290 insider forms, 68 large holders, 1 private raises, 145 other. The latest 20:
- Oct 6, 2026SCHEDULE 13G/A EDGAR
- Oct 5, 20264 EDGAR
- Aug 28, 20268-K EDGAR
- Aug 18, 20264 PRIMARY DOCUMENT EDGAR
- Aug 18, 20264 PRIMARY DOCUMENT EDGAR
- Aug 18, 20264 PRIMARY DOCUMENT EDGAR
- Aug 14, 2026144 EDGAR
- Aug 14, 2026144 EDGAR
- Aug 14, 2026144 EDGAR
- Aug 12, 2026SCHEDULE 13G EDGAR
- Aug 12, 2026SCHEDULE 13G/A EDGAR
- Aug 6, 202610-Q EDGAR
- Aug 6, 20268-K EDGAR
- Jul 29, 2026SCHEDULE 13G/A EDGAR
- Jun 29, 20264 PRIMARY DOCUMENT EDGAR
- Jun 29, 20264 PRIMARY DOCUMENT EDGAR
- Jun 29, 20264 PRIMARY DOCUMENT EDGAR
- Jun 17, 20268-K EDGAR
- Jun 5, 20264 PRIMARY DOCUMENT EDGAR
- Jun 5, 20264 PRIMARY DOCUMENT EDGAR
The 576 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
213 open-market trades by officers, directors and large owners since October 2021: 1 buys and 212 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 17, 2026 | Trigg LeslieChair and CEO | Sale | 3,437 | $4.39 | $15.1K | Form 4 |
| Aug 17, 2026 | Brottem John L.General Counsel | Sale | 2,632 | $4.39 | $11.6K | Form 4 |
| Aug 17, 2026 | Gaeta ReneeChief Financial Officer | Sale | 4,543 | $4.39 | $19.9K | Form 4 |
| Jun 3, 2026 | Gaeta ReneeChief Financial Officer | Sale | 17,672 | $4.94 | $87.3K | Form 4 |
| May 15, 2026 | Trigg LeslieChair and CEO | Sale | 3,445 | $3.70 | $12.7K | Form 4 |
| May 15, 2026 | Nash MarcEVP Operations R&D & Service | Sale | 1,582 | $3.70 | $5.9K | Form 4 |
| May 15, 2026 | Brottem John L.General Counsel | Sale | 2,638 | $3.70 | $9.8K | Form 4 |
| Feb 17, 2026 | Nash MarcEVP Operations R&D & Service | Sale | 1,817 | $3.35 | $6.1K | Form 4 |
| Feb 17, 2026 | Brottem John L.General Counsel | Sale | 2,842 | $3.35 | $9.5K | Form 4 |
| Feb 17, 2026 | Trigg LeslieChair and CEO | Sale | 3,361 | $3.35 | $11.3K | Form 4 |
| Jan 21, 2026 | Nash MarcEVP Operations R&D & Service | Sale | 980 | $4.98 | $4.9K | Form 4 |
| Jan 21, 2026 | Brottem John L.General Counsel | Sale | 1,180 | $5.01 | $5.9K | Form 4 |
| Jan 21, 2026 | Trigg LeslieChair and CEO | Sale | 2,120 | $5.05 | $10.7K | Form 4 |
| Jan 20, 2026 | Nash MarcEVP Operations R&D & Service | Sale | 5,375 | $5.12 | $27.5K | Form 4 |
| Jan 20, 2026 | Brottem John L.General Counsel | Sale | 9,314 | $5.12 | $47.7K | Form 4 |
| Jan 20, 2026 | Trigg LeslieChair and CEO | Sale | 11,794 | $5.12 | $60.4K | Form 4 |
| Jan 7, 2026 | Nash MarcEVP Operations R&D & Service | Sale | 108 | $4.27 | $461 | Form 4 |
| Jan 7, 2026 | Brottem John L.General Counsel | Sale | 224 | $4.27 | $956 | Form 4 |
| Jan 7, 2026 | Trigg LeslieChair and CEO | Sale | 1,795 | $4.27 | $7.7K | Form 4 |
| Dec 1, 2025 | Drexler KarenDirector | Sale | 1,548 | $4.37 | $6.8K | Form 4 |
All 213 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- BML Investment Partners, L.P.SCHEDULE 13G/A, 5 filings Jan 14, 2026 to Oct 6, 202652
- AQR CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Aug 12, 202653
- Bank of AmericaSCHEDULE 13G/A, 2 filings Feb 11, 2026 to Aug 12, 202654
- BlackRockSCHEDULE 13G/A, 8 filings Oct 8, 2021 to Jul 29, 202655
- Alyeska Investment Group, L.P.SCHEDULE 13G/A, 2 filings May 15, 2025 to May 15, 202656
- Woodline Partners LPSCHEDULE 13G/A, 2 filings May 15, 2025 to May 15, 202657
- VANGUARD GROUP INCSCHEDULE 13G/A, 8 filings Feb 10, 2022 to Mar 27, 202658
- Durable Capital Partners LPSCHEDULE 13G/A, 3 filings Jan 10, 2025 to Feb 17, 202659
- PFM Health Sciences, LPSCHEDULE 13G/A, 4 filings Feb 14, 2022 to Feb 17, 202660
- T. Rowe Price Investment Management, Inc.SCHEDULE 13G/A, 4 filings Feb 14, 2023 to Nov 14, 202561
- PERCEPTIVE ADVISORS LLCSCHEDULE 13G/A, 3 filings Feb 15, 2022 to May 15, 202562
- FMR LLCSCHEDULE 13G/A, 6 filings Feb 9, 2022 to Apr 7, 202563
- MILLENNIUM MANAGEMENT LLCSC 13G/A, 2 filings Aug 23, 2024 to Nov 12, 202464
- Ameriprise FinancialSC 13G/A, 3 filings Feb 14, 2024 to Sep 10, 202465
- Morgan StanleySC 13G/A, 2 filings Feb 9, 2024 to Sep 9, 202466
- JPMorgan ChaseSC 13G/A, 6 filings Jan 26, 2022 to Sep 5, 202467
- Bellevue GroupSC 13G/A, 2 filings Feb 14, 2023 to Feb 13, 202468
- AllianceBernsteinSC 13G/A, 2 filings Feb 14, 2022 to Feb 14, 202369
- D1 Capital Partners L.P.SC 13G/A, 1 filing Feb 14, 202270
- WARBURG PINCUS LLCSC 13G/A, 1 filing Feb 11, 202271
- Mubadala Investment Co PJSCSC 13G/A, 1 filing Dec 7, 202172
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Renee Gaeta | $276.9K | $3.4M73 | |
| 2025 | Leslie Trigg | $755.2K | $3.3M73 | |
| 2025 | John Brottem | $466.6K | $1.4M73 | |
| 2025 | Marc Nash | $432.6K | $1.3M73 | |
| 2025 | Nabeel Ahmed | $212.8K | $610.1K73 | |
| 2024 | PresidentCEO & Board Chair | $725.0K | $4.0M73 | |
| 2024 | Former Chief Financial Officer | $460.1K | $1.8M73 | |
| 2024 | General Counsel & Secretary | $415.8K | $1.5M73 | |
| 2024 | EVPR&D, Operations & Service | $398.9K | $1.5M73 | |
| 2023 | PresidentCEO & Board Chair | $723.1K | $6.5M73 | |
| 2023 | Former Chief Financial Officer | $459.5K | $2.3M73 | |
| 2023 | General Counsel & Secretary | $415.2K | $1.7M73 | |
| 2023 | EVPR&D, Operations & Service | $335.5K | $1.0M73 |
Funding
Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.
- Private raises (Form D) $3.9M
Figures by year
| Year | Private raises (Form D) | Total |
|---|---|---|
| 2025 | $3.9M | $3.9M |
Private raises
Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 92. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Fmr LLC | 2,742,887 | $11.8M | 0.0% | +1,214 |
| BML Capital Management, LLC | 2,519,701 | $10.9M | 6.2% | +617,500 |
| Aqr Capital Management LLC | 998,961 | $4.3M | 0.0% | +190,676 |
| Perceptive Advisors LLC | 833,333 | $3.6M | 0.1% | No change |
| Vanguard Capital Management LLC | 780,134 | $3.4M | 0.0% | +16,312 |
| Assenagon Asset Management S.A. | 678,876 | $2.9M | 0.0% | +174,783 |
| Bank Of America Corp /de/ | 665,847 | $2.9M | 0.0% | −283,550 |
| PFM Health Sciences, LP | 582,122 | $2.5M | 0.2% | −12,508 |
| Ensign Peak Advisors, Inc | 434,341 | $1.9M | 0.0% | −92,244 |
| BlackRock, Inc. | 418,211 | $1.8M | 0.0% | −845,008 |
| Peapod Lane Capital LLC | 331,951 | $1.4M | 1.0% | New |
| Marshall Wace, Llp | 211,993 | $915.8K | 0.0% | New |
| Geode Capital Management, LLC | 204,652 | $884.5K | 0.0% | −216,721 |
| Stratos Wealth Partners, LTD. | 200,546 | $866.4K | 0.0% | No change |
| UBS Group AG | 190,289 | $822.0K | 0.0% | −62,210 |
| Morgan Stanley | 181,983 | $786.2K | 0.0% | +12,540 |
| Millennium Management LLC | 181,794 | $785.4K | 0.0% | New |
| Goldman Sachs Group Inc | 173,460 | $749.3K | 0.0% | +80,100 |
| Jane Street Group, LLC | 139,197 | $601.3K | 0.0% | +74,387 |
| XTX Topco Ltd | 124,690 | $538.7K | 0.0% | −17,760 |
| Catalio Capital Management, LP | 118,279 | $511.0K | 0.1% | No change |
| Vanguard Fiduciary Trust Co | 114,912 | $496.4K | 0.0% | +3,273 |
| GMT Capital Corp | 98,108 | $423.8K | 0.0% | +55,687 |
| Dimensional Fund Advisors LP | 90,698 | $391.8K | 0.0% | −22,667 |
| Pura Vida Investments, LLC | 83,333 | $360.0K | 1.0% | No change |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Outset Medical, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGAROutset Medical, Inc.1
- CIK0001484612
- Employer ID (EIN)20-05143924
- Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
- Incorporated inDelaware4
- Fiscal year endsDecember 311
- Industry code (SIC)3845 Electromedical & Electrotherapeutic Apparatus1
- SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
- Business address3052 Orchard Drive, San Jose, CA 951341
- Phone669-231-82001
- Shares outstanding18,797,164 as of Aug 4, 202611
- Public float$334.7M as of Jun 30, 20254
- AuditorKPMG LLP, San Francisco, California PCAOB ID 185; it also attests to the company’s internal control over financial reporting4
- On EDGAR sinceFeb 26, 20101
- Filings741 in all: 4 (346), 144 (115), 8-K (66), SC 13G/A (33), 3 (27), SCHEDULE 13G/A (19), 10-Q (18), SC 13G (17)1
All 34 form types
CORRESP (10), SCHEDULE 13G (10), DEFA14A (9), D (7), DEF 14A (7), S-8 (7), 10-K (6), UPLOAD (6), 4/A (4), EFFECT (4), SD (4), 424B4 (3), DRS (3), DRSLTR (3), S-1 (3), 3/A (2), DRS/A (2), S-1MEF (2), 424B3 (1), 8-A12B (1), CERT (1), D/A (1), PRE 14A (1), S-1/A (1), S-3 (1), S-3/A (1)
- Latest filingsAnnual report (10-K) Feb 13, 2026
Quarterly report (10-Q) Aug 6, 2026
Proxy statement (DEF 14A) Apr 24, 2026
Latest 8-K (8-K) Aug 28, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, par value $0.001 per share | OM | The Nasdaq Stock Market LLC |
From the cover page of the 10-K filed Feb 13, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks Outset Medical, Inc. names in Item 1A of its 10-K filed Feb 13, 2026: 72 risks under these headings, as written.4
- Risks Related to Our Business and Industry
- Risks Related to Government Regulation
- Risks Related to Our Intellectual Property
- Risks Related to Ownership of Our Common Stock
- General Risks
- Risks Related to our Business and Industry
- We have a history of net losses, and we expect to continue to incur losses for the foreseeable future. If we ever achieve profitability, we may not be able to sustain it.
- Our ability to achieve sustainable gross margins depends on the success of our various initiatives designed to expand gross margin.
- The commercial success of Tablo will depend upon attaining significant market acceptance among providers and patients.
- We currently derive substantially all of our revenue from the sale of Tablo and associated consumables and are therefore highly dependent on Tablo for our success.
- Our customers may face financial pressures including, but not limited to, capital budget constraints, staffing shortages and increased costs arising from macroeconomic conditions, evolving policy changes or other factors, that have had, and may continue to have, a negative impact on our financial condition or results of operations.
- Our financial condition or results of operations, including our ability to generate revenue from home-based and post-acute dialysis, is subject to certain risks and uncertainties, including around the use of Tablo in the home and post-acute settings.
The other 66 risks
- With a significant portion of our manufacturing operations, as well as key software development and certain IT personnel, located outside of the United States, we may experience operational disruptions, and be subject to additional risks associated with international manufacturing operations, including uncertain or changing regulatory and/or labor requirements.
- We depend upon third-party suppliers, including a contract manufacturer and single source suppliers, making us vulnerable to supply problems and price fluctuations.
- If we fail to expand the adoption of Tablo as we focus more heavily on enterprise selling, we may not be able to generate revenue growth.
- If we fail to provide strong product performance, customer dissatisfaction could adversely affect our reputation and results of operations.
- If we are unable to continue to innovate and improve Tablo, we could lose customers or market share.
- We face competition from many sources, including larger companies and new entrants, and we may be unable to compete successfully.
- We may face additional costs, loss of revenue, significant liabilities, harm to our brand, decreased use of our platform and business disruption if there are any security or data privacy breaches or other unauthorized or improper access.
- We may encounter difficulties in managing our growth, which could disrupt our operations.
- The home hemodialysis market may not expand sufficiently to support our growth prospects.
- We traditionally have had significant customer concentration.
- Any failure to offer high-quality product support for Tablo may adversely affect our relationships with providers and negatively impact our reputation among patients and providers, which may adversely affect our business, financial condition, and results of operations.
- Our results of operations will be materially harmed if we are unable to accurately forecast customer demand for, and utilization of, Tablo and manage our inventory.
- A pandemic, epidemic or outbreak of an infectious disease in the United States or worldwide such as the COVID-19 pandemic could adversely affect our business.
- Natural or man-made disasters and other similar events may significantly disrupt our business, and negatively impact our business, financial condition and results of operations.
- Inadequate training of, and improper use of Tablo by, nurses, dialysis technicians, care partners and patients may lead to negative patient outcomes, affect use of Tablo and adversely affect our business.
- Our operating results may fluctuate significantly, which makes our future operating results difficult to predict and could cause our operating results to fall below expectations or any guidance we may provide.
- The sizes of the markets for Tablo in the acute and home settings have not been established with precision and may be smaller than we estimate and may decline.
- We use Amazon Web Services to support Tablo’s cloud connectivity and any disruption of service could interrupt or delay our ability to receive and deliver certain treatment and reporting information from and to providers and patients.
- If we experience significant disruptions in our information technology systems, our business may be adversely affected.
- If product liability lawsuits are brought against us, we may incur substantial liabilities and may be required to limit or halt the marketing and sale of Tablo. The expense and potential unavailability of insurance coverage for liabilities resulting from Tablo could harm us and our ability to sell Tablo.
- Any failure to obtain additional financing when needed on acceptable terms, or at all, could force us to delay, limit, reduce or eliminate our commercialization, sales and marketing efforts, product development programs or other operations.
- The terms of our credit agreement require us to meet certain operating and financial covenants, place restrictions on our operating and financial flexibility and subject us to interest rate risk, and our ability to access additional borrowings is subject to us achieving certain revenue milestone and obtaining lenders’ credit approval.
- Performance issues, service interruptions or price increases by our shipping carriers and warehousing providers could adversely affect our business and harm our reputation and ability to provide our services on a timely basis.
- We bear the risk of warranty claims on Tablo.
- Cost-containment efforts of our customers, purchasing groups and governmental organizations could have a material adverse effect on our sales and profitability.
- Litigation and other legal proceedings may adversely affect our business.
- We may seek strategic alliances, joint ventures or collaborations, or enter into licensing or partnership arrangements in the future and may not be successful in doing so, and even if we are, we may not realize the benefits or costs of such relationships.
- To the extent we enter into foreign markets, we would be subject to additional regulatory burdens and other risks and uncertainties.
- Our ability to utilize our net operating loss carryforwards and research and development credit may be limited.
- Risks Related to Governmental Regulation
- As we continue to modify Tablo from time to time, such modifications may require new clearances or approvals from the FDA, which we may not be able to obtain on a timely basis or at all.
- Changes to the reimbursement rates for dialysis treatments and measures to reduce healthcare costs may adversely impact our business.
- Healthcare reform measures could hinder or prevent the commercial success of Tablo.
- We must comply with anti-kickback, fraud and abuse, false claims, transparency, and other healthcare laws and regulations.
- Tablo and our operations are subject to extensive government regulation and oversight in the United States. If we fail to obtain or maintain necessary regulatory approvals for Tablo and related products, or if approvals or clearances for future products are delayed or not issued, it will negatively affect our business, financial condition and results of operations.
- Our future success depends on our ability to develop, receive regulatory clearance or approval for, and introduce new products that will be accepted by the market in a timely manner. There is no guarantee that the FDA will grant 510(k) clearance or PMA approval of our future products on a timely basis, if at all, and failure to obtain necessary clearances or approvals for our future products would adversely affect our ability to grow our business.
- If we or our suppliers fail to comply with ongoing FDA or other foreign regulatory authority requirements, or if we experience unanticipated problems with our products, these products could be subject to restrictions or withdrawal from the market.
- Our products may cause or contribute to adverse medical events or be subject to failures or malfunctions that we are required to report to the FDA, and if we fail to do so, we would be subject to sanctions that could harm our reputation, business, financial condition and results of operations. The discovery of serious safety issues with our products, or a recall of our products either voluntarily or at the direction of the FDA or another governmental authority, could have a negative impact on us.
- Our products, such as Tablo, may in the future be subject to product recalls that could harm our reputation, business and financial results.
- We may be subject to regulatory or enforcement actions if we engage in improper marketing or promotion of Tablo.
- Legislative or regulatory reforms may make it more difficult and costly for us to obtain regulatory clearance or approval of any future products or product enhancements and to manufacture, market and distribute our products after clearance or approval is obtained.
- Clinical trials may be necessary to support future product submissions to the FDA. The clinical trial process is lengthy and expensive with uncertain outcomes, and often requires the enrollment of large numbers of patients, and suitable patients may be
- difficult to identify and recruit. Delays or failures in our clinical trials will prevent us from commercializing any modified or new products and will adversely affect our business, operating results and prospects.
- If the third parties on which we rely to conduct our clinical trials and to assist us with pre-clinical development do not perform as required or expected, we may not be able to obtain regulatory clearance or approval for or commercialize our products.
- The results of our clinical trials may not support our product candidate claims or may result in the discovery of adverse side effects.
- The medical device industry is subject to extensive regulatory obligations and policies that are subject to change, including due to judicial challenges, election cycles, and resulting regulatory updates and changes in policy priorities.
- Our use, disclosure, and other processing of personally identifiable information, including health information, is subject to HIPAA and other federal, state, and data privacy and security regulations, and our failure to comply with those regulations or to adequately secure the information we hold could result in significant liability or reputational harm and, in turn, a material adverse effect on our client base, member base and revenue.
- Our employees, collaborators, independent contractors and consultants may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements.
- We must comply with environmental and occupational safety laws.
- Risks Related to our Intellectual Property
- We have to protect our intellectual property.
- We may be subject to claims challenging the ownership or inventorship of our patents and other intellectual property and, if unsuccessful in any of these proceedings, we may be required to obtain licenses from third parties, which may not be available on commercially reasonable terms, or at all, or to cease the development, manufacture and commercialization of Tablo.
- If we are unable to protect the confidentiality of our trade secrets, our business and competitive position may be harmed.
- We may be subject to claims that we or our employees have misappropriated the intellectual property of a third party, including trade secrets or know-how, or are in breach of non-competition or non-solicitation agreements with our competitors and third parties may claim an ownership interest in intellectual property we regard as our own.
- Changes in patent law could diminish the value of patents in general, thereby impairing our ability to protect our existing and future products.
- If our trademarks and tradenames are not adequately protected, then we may not be able to build name recognition in our markets and our business may be adversely affected.
- We may become involved in lawsuits to protect or enforce our patents and other intellectual property rights, which could be expensive, time-consuming and unsuccessful.
- Our use of “open source” software could subject our proprietary software to general release, adversely affect our ability to sell Tablo and subject us to possible litigation.
- Intellectual property rights do not necessarily address all potential threats.
- We may not be able to protect our intellectual property and proprietary rights throughout the world.
- The market price of our common stock has been and may continue to be volatile and may decline steeply or suddenly regardless of our operating performance, which could result in substantial losses for holders of our common stock, and we may not be able to meet investor or analyst expectations.
- We may not be able to maintain the listing of our common stock on Nasdaq, which could adversely affect our liquidity and the trading volume and market price of our common stock.
- We do not intend to pay dividends for the foreseeable future and, as a result, your ability to achieve a return on your investment will depend on appreciation in the price of our common stock.
- If securities or industry analysts either do not publish research about us or publish inaccurate or unfavorable research about us, our business or our market, or if they change their recommendations regarding our common stock adversely, the trading price or trading volume of our common stock could decline.
- Our principal stockholders and management own a significant percentage of our stock and are able to exercise significant influence over matters subject to stockholder approval.
- Future securities issuances could result in significant dilution to our stockholders and impair the market price of our common stock.
- Delaware law and provisions in our amended and restated certificate of incorporation and bylaws could make a merger, tender offer or proxy contest difficult, thereby depressing the trading price of our common stock.
- Our amended and restated certificate of incorporation designates a state or federal court located within the State of Delaware as the exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to choose the judicial forum for disputes with us or our directors, officers or employees.
Legal proceedings
The information set forth under “Litigation” in Note 6, Commitments and Contingencies, of the notes accompanying our audited financial statements in this Annual Report is incorporated herein by reference.
From time to time, we may become involved in legal proceedings or investigations, which could have an adverse impact on our reputation, business and financial condition and divert the attention of our management from the operation of our business. We are not presently a party to any legal proceedings that, if determined adversely to us, would individually or taken together have a material adverse effect on our business, results of operations, financial condition or cash flows.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2Yahoo FinanceOM quote
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14SEC EDGARLeslie Trigg, Chair
- 15SEC EDGARRenee Gaeta, Chief financial officer
- 16
- 17
- 18
- 19SEC EDGARDerick A. Elliott, EVP, Commercial
- 20SEC EDGARMarc Nash, VP Manufacturing
- 21
- 22SEC EDGARNabeel Ahmed, VP Finance
- 23
- 24SEC EDGARKaren Prange, Board member
- 25SEC EDGARKevin C. Oboyle, Board member
- 26SEC EDGARBrent D. Lang, Board member
- 27SEC EDGARDale E. Jones, Board member
- 28SEC EDGARKaren Drexler, Board member
- 29SEC EDGARAndrea L. Saia, Board member
- 30SEC EDGARCatherine M. Szyman, Board member
- 31SEC EDGARAli Osman, Board member
- 32SEC EDGARD. Keith Grossman, Board member
- 33SEC EDGARGp L.p. Wpx, Board member
- 34SEC EDGARJames F. Hinrichs, Board member
- 35SEC EDGARPatrick T. Hackett, Board member
- 36SEC EDGARThomas J. Carella, Board member
- 37SEC EDGARJohn L. Brottem, General counsel
- 38SEC EDGARExecutive or director change
- 39SEC EDGARResults of operations
- 40
- 41SEC EDGARShareholder vote
- 42SEC EDGARExecutive or director change
- 43SEC EDGARResults of operations
- 44SEC EDGARResults of operations
- 45SEC EDGAROther events
- 46
- 47SEC EDGARResults of operations
- 48SEC EDGARResults of operations
- 49
- 50NasdaqNasdaq calendar
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