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Outset Medical (OM) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Outset Medical (OM) Q3 2026 earnings results →
Q3 2026 Revenue up 14% year over year to $33.6M · 44¢ of every $1 of revenue lost · operating margin -36.5%
Outset Medical made $33.6M in Q3 2026 (+14% Y/Y): Product $23.7M, Service and Other Revenue $9.9M. Operating margin -36.5%, net loss $14.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
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What changed this quarter
Revenue was $33.6M in Q3 2026, up 14% year over year and up 6% from the previous quarter. Consumables Product was the largest line at 39% of revenue. Consoles Product added $2.1M year over year (up 26%), 51% of the total change.
Gross margin was 40.7%, up 1.3 points from Q3 2025. Operating costs exceeded revenue by $12.3M, an operating margin of -36.5%. Operating expenses fell 5% while revenue rose 14%. The quarter ended with a net loss of $14.7M, narrower than the previous quarter's $18.0M loss.
Operating cash flow was −$10.4M. Non-cash charges added back $666K of depreciation and amortization and $1.7M of share-based compensation. Working capital and other items added $2.0M. Capital expenditures of $109K exceeded it, leaving free cash flow of −$10.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $33.6M | +14% | -36.5% | −$14.7M | −$10.4M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $31.6M | +0.7% | -49.6% | −$18.0M | −$9.6M |
| Q1 2026 | 10-Q | May 7, 2026 | $27.9M | -6% | -60.7% | −$19.0M | −$12.8M |
| Q4 2025 | 10-K | Feb 13, 2026 | $28.9M | -2% | -61.1% | −$19.5M | −$9.5M |
| Q3 2025 | 10-Q | Nov 10, 2025 | $29.4M | +3% | -53.7% | −$17.8M | −$6.3M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $31.4M | +15% | -53.7% | −$18.5M | −$4.8M |
| Q1 2025 | 10-Q | May 8, 2025 | $29.8M | +6% | -55.1% | −$25.8M | −$25.7M |
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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📈Investments: gains and what it boughtinteractive
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About Outset Medical
Outset is a medical technology company transforming the dialysis experience across the continuum of care with a first-of-its-kind technology. The Tablo® Hemodialysis System, FDA-cleared for use from hospital to home, is trusted by more than 1,000 U.S. healthcare facilities and has enabled millions of treatments delivered by thousands of nurses. Designed to reduce the cost and complexity of dialysis, Tablo combines water purification and on-demand dialysate production into a single, integrated system that connects seamlessly with Electronic Medical Record systems and a proprietary data analytics platform. This enterprise solution empowers providers to develop an in-house dialysis program where they are in control – enabling better operational, clinical, and financial outcomes.
In its own words, from its 8-K, filed Aug 6, 2026.
Outset Medical against its Electromedical & Electrotherapeutic Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +14% against the peers' median +14%. Operating margin: -36.5% against the peers' median 6.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| OM Outset Medical | Q3 2026 | $33.6M | +14% | -36.5% |
| MDT Medtronic | Q1 FY27 | $9.8B | +14% | 18.1% |
| ITGR Integer Holdings | Q3 2026 | $450M | -4% | 6.3% |
| LIVN LivaNova | Q3 2026 | $393M | +10% | 7.2% |
| CNMD Conmed | Q3 2026 | $336M | -0.7% | 11.1% |
| TMDX TransMedics Group | Q3 2026 | $203M | +41% | 13.9% |
| AXGN Axogen | Q3 2026 | $75.8M | +26% | 1.3% |
| CBLL Ceribell | Q3 2026 | $29.3M | +30% | -70.0% |
| BLFS Biolife Solutions | Q2 2026 | $28.5M | +22% | 6.0% |
Source: Outset Medical 10-Q on SEC EDGAR · CIK 1484612 · Electromedical & Electrotherapeutic Apparatus
Guidance and outlook
13F: who owns OM and who is buying
More on OM
- How Outset Medical makes money: revenue by segment
- Outset Medical next earnings date and what analysts expect
- Outset Medical stock forecast, price target and fair value
- Who owns Outset Medical stock: holders, funds and Congress trades
- Outset Medical guidance and outlook
- Outset Medical recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results