Outset Medical Inc 2025年季度报告

OR Emerging growth company☐If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ FINANCIAL INFORMATIONFinancial Statements (Unaudited)Condensed Balance Sheets Management’s Discussion and Analysis of Financial Condition and Results of Operations Quantitative and Qualitative Disclosures About Market RiskControls and ProceduresPART II.OTHER INFORMATIONLegal ProceedingsRisk FactorsUnregistered Sales of Equity Securities and Use of ProceedsDefaults Upon Senior SecuritiesMine Safety DisclosuresOther InformationExhibitsSignatures ————21$3,84117,722$18The accompanying notes are an integral part of these unaudited condensed financial statements. Three Months Ended March 31,20252024Cash flows from operating activities:$(25,783)$Adjustments to reconcile net loss to net cash used in operating activities: Amortization of premium on investments, netProvision for inventories Allowance for credit losses197Loss on extinguishment of term loan7,685Changes in operating assets and liabilities:Accounts receivable(1,467)Inventories3,691Prepaid expenses and other assets(341)Accounts payable(2,772)Accrued compensation and related benefits(8,579) Net cash used in operating activities(25,663)Cash flows from investing activities:Purchases of property and equipment(123) Purchases of investment securitiesSales and maturities of investment securities 18,375Net cash used in investing activities(78,079)Cash flows from financing activities:Proceeds from stock option exercises and ESPP purchases408 Repayment of term loan and extinguishment costs(204,954)Proceeds from issuance of Series A convertible preferred stock,net of issuance costs161,932Net cash provided by financing activities55,656Net decrease in cash, cash equivalents and restricted cash(48,086) Summary of cash, cash equivalents and restricted cash reported within the balance sheets:Cash and cash equivalents$75,928$Restricted cash3,329Total cash, cash equivalents and restricted cash$79,257$Supplemental cash flow disclosures:Cash paid for income taxes$108$ (Unaudited)(in thousands)Three Months Ended March 31, 7 Notes to Condensed Financial Statements1. Description of Business utilized across the continuum of care, allowing dialysis to be delivered anytime, anywhere, and by virtually anyone. The integrationof water purification and on-demand dialysate production in a single 35-inch compact console enables Tablo to serve as a dialysis clinic on wheels. With a simple-to-use touchscreen interface, two-way wireless data transmission and a proprietary data analytics platform, Tablo is a new holistic approach to dialysis care. The Company’s headquarters are located in San Jose, California. accumulated deficit of$1.1billion. As of March 31, 2025, the Company had cash, cash equivalents, restricted cash, and short-term investments of$192.3million. In January and March 2025, the Company sold863,000shares of its Series A Non-Voting Convertible Preferred Stock(Series A Convertible Preferred Stock) at a price of $200.00per share in a private placement transaction (the Private Placement) for shares of Series A Convertible Preferred Stock were converted into14,046,000shares of the Company’s common stock. See Note8 for further details.In addition, in January 2025, the Company entered into a credit agreement and guaranty (the Perceptive Credit Agreement) with Perceptive Credit Holdings IV, LP, as administrative agent (Agent) and the lenders from time to time party thereto, whichprovided a $100million5-yearterm loan at closing and provides an additional term loan of up to $25million, which is available for funding until July 14, 2027,subject to the achievement of certain revenue milestone and other customary conditions (thePerceptive Term Loan). The Company is required to comply with certain covenants under the Perceptive Credit Agreement As of March 31, 2025, the aggregate amount of the transaction price allocated to the remaining performance obligationsrelated to customer service contracts that are unsatisfied or partially unsatisfied was$14.0million, which is recorded as deferredrevenue on the Company’s condensed balance sheets. Of that amount,$13.2millionwill be recognized as revenue during the next12months and$0.8millionthereafter.The contract liabilities consist of deferred revenue which represents payments received in advance of revenue recognition. The following tables summarize the Company’s financial assets measured at fair value on a recurring basis by level withinthe fair value hierarchy (in thousands): U.S. Treasury securitiesCorporate debt Short-term investments: Total cash equivalents and short-term investments$ March 31, 2025Unrealized losses lessthan 12 monthsUnrealized losses 12months or greaterTotalFairValueUnrealized LossesFairValueU