OM · Outset Medical, Inc.
Price & Indicators
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Metrics snapshot
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AI Brief
Q2 FY26 earnings call · Aug 6, 2026TL;DR. Outset Medical reiterated full-year 2026 revenue guidance of $125-$130 million, reported Q2 revenue of $31.6 million (up 1% YoY), signed a three-year, $40 million HCA refresh agreement, and delivered non-GAAP gross margin of 42.2%, up more than 380 basis points year-over-year.
- + Signed a three-year, $40 million refresh agreement with HCA Healthcare, providing contracted backlog through 2028 new
- + Non-GAAP gross margin expanded to 42.2%, up over 380 basis points year-over-year, on track toward a 50% company-wide gross margin milestone new
- + Service and other gross margin was 33.4%, up over 2,400 basis points year-over-year
- + Cash use of $9.5 million in Q2 keeps the company on track to use less than $40 million for full-year 2026 new
- − Consumable revenue declined 12% year-over-year against a double-digit growth comparison in the prior year new
- − Product revenue declined 5% year-over-year against a challenging prior-year growth comparison new
- − Product gross margin was 46.1%, down about 280 basis points year-over-year due to a higher mix of console sales within product revenue new
- − Net loss was $18.0 million for the quarter, with the company still operating at a loss on a path to profitability new
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Strong SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
Versus peers
Medical Devices — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
OM
this stock
Outset Medical, Inc.
|
$59.21M | -15.1% | +5.1% | — | 4.8% |
|
ABT
Abbott Laboratories
|
$177.58B | -17.7% | +5.7% | 28.6 | 1.3% |
|
MDT
Medtronic plc
|
$119.98B | -2.4% | +8.4% | 23.1 | 0.9% |
|
SYK
Stryker Corp
|
$108.13B | -19.8% | +11.2% | 29.2 | 2.0% |
|
BSX
Boston Scientific Corp
|
$64.91B | -52.8% | +12.5% | 18.1 | 3.3% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
Raw-price comparisons begin at the captured split on Mar 20, 2025; windows that need an earlier baseline remain unavailable.
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| OM | -12.3% | -30.2% | -12.9% | -17.5% | -15.1% |
| SPY | -1.2% | -2.0% | +16.1% | -0.8% | +11.6% |
| vs SPY | -11.1% | -28.2% | -29.0% | -16.7% | -26.7% |