Outset Medical Inc. 2025年季度报告

For the quarterly period endedMarch 31,2025 Registrant’s telephone number, including area code: (669)231-8200 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirementsfor the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or anemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” inRule 12b-2 of the Exchange Act. Large accelerated filerNon-accelerated filer Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). As of May 2, 2025, the registrant had17,722,310shares of common stock, $0.001 par value per share, outstanding. Table of Contents PART I.FINANCIAL INFORMATION PART I—FINANCIAL INFORMATION Outset Medical, Inc.Condensed Balance Sheets(in thousands, except per share amounts) Outset Medical, Inc.Condensed Statements of Operations(Unaudited) Outset Medical, Inc.Condensed Statements of Cash Flows(Unaudited) Outset Medical, Inc.Condensed Statements of Cash Flows(Unaudited) Outset Medical, Inc.Notes to Condensed Financial Statements 1. Description of Business Outset Medical, Inc. (the Company) is a medical technology company pioneering a first-of-its-kind technology to reduce thecost and complexity of dialysis. Tablo® Hemodialysis System (Tablo), cleared by the U.S. Food and Drug Administration (FDA)for use from the hospital to the home, represents a significant technological advancement designed to transform the dialysisexperience for patients and operationally simplify it for providers. Tablo serves as a single enterprise solution designed to beutilized 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 Reverse Stock Split In March 2025, the Company’s board of directors and shareholders approved a Certificate of Amendment to the Company’sAmended and Restated Certificate of Incorporation to effect a reverse split of shares of the Company’s common stock on a 15-for-one basis (the Reverse Stock Split), which became effective as of March 20, 2025. The number of authorized shares and the parvalues of the common stock and preferred stock were not adjusted as a result of the Reverse Stock Split. In connection with theReverse Stock Split, the conversion ratio for the Company’s outstanding convertible preferred stock was proportionately adjustedsuch that the common stock issuable upon conversion of such preferred stock was decreased in proportion to the Reverse Stock All common stock share and per share amounts and information presented herein have been retroactively adjusted to reflectthe effect of the Reverse Stock Split for all periods presented. Liquidity Since inception, the Company has incurred net losses and negative cash flows from operations. During the three monthsended March 31, 2025 and 2024, the Company incurred a net loss of$25.8millionand$39.9million, respectively, and cashoutflow from operating activities of$25.7millionand$45.9million, respectively. As of March 31, 2025, the Company had an 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) fortotal gross proceeds of $172.7million, before deducting placement agent fees and other offering expenses. Subsequently,842,000 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 availablefor 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