Outset Medical, Inc.
OM · Electromedical & Electrotherapeutic Apparatus · 18.5M shares · -41%/yr ↓ buyback · EDGAR filings ↗
Reference price $4.94 · est. market cap ~$92M — last insider sale, 2026-06-03 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D52Outset Medical — dialysis-device (Tablo) maker, loss-making but funded.
Strengths
- Strong liquidity (current 6.7), cash (92nd pct), long runway
- Differentiated home/acute dialysis platform
Risks
- Operating margin -56%; deep cash burn
- Capital-equipment adoption and reimbursement risk
Notable findings
- No interest coverageInterest coverage -4.78 (cannot cover interest)
- Net lossNet loss (net margin -68.3%)
- Exec changeRecent 8-K item 5.02 8-K ↗
- Cash burnNegative free cash flow (-47.1M)
- Strong balance sheetStrong balance sheet — $169M cash & investments, ~14 quarters of runway
- Buying back stockNet buyback — share count -41%/yr over 3y
- Insider sellingInsider selling — 16 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$308,701, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
39.1%
Operating margin
-55.8%
Net margin
-68.3%
Return on equity
-64.3%
Return on assets
-30.9%
ROIC
-23.6%
Revenue growth (QoQ)
-3.5%
Debt / equity
0.8×
Interest coverage
-4.8×
Current ratio
6.7×
Free cash flow
-$47M
EBITDA
-$62M
Tangible book value
$127M
Cash & investments
$169M
Cash runway
14q
Stock comp / revenue
13.1%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-04 | LANG BRENT D. | Grant | 11K | — |
| 2026-06-04 | OBOYLE KEVIN C | Grant | 11K | — |
| 2026-06-04 | GROSSMAN D KEITH | Grant | 11K | — |
| 2026-06-04 | Prange Karen | Grant | 11K | — |
| 2026-06-04 | HACKETT PATRICK T | Grant | 11K | — |
| 2026-06-04 | Drexler Karen | Grant | 11K | — |
| 2026-06-03 | Gaeta Renee | Sell | 18K | $4.94 |
| 2026-05-15 | Leonard Braden Michael | Option exercise | 323K | $5.00 |
| 2026-05-15 | Trigg Leslie | Sell | 3.4K | $3.70 |
| 2026-05-15 | Nash Marc | Sell | 1.6K | $3.70 |
| 2026-05-15 | Brottem John L. | Sell | 2.6K | $3.70 |
| 2026-05-11 | Leonard Braden Michael | Option exercise | 97K | $5.00 |
| 2026-05-08 | Leonard Braden Michael | Option exercise | 198K | $5.00 |
| 2026-04-06 | Elliott Derick A. | Grant | 96K | — |
| 2026-02-17 | Brottem John L. | Sell | 2.8K | $3.35 |
| 2026-02-17 | Nash Marc | Sell | 1.8K | $3.35 |
| 2026-02-17 | Trigg Leslie | Sell | 3.4K | $3.35 |
| 2026-01-21 | Brottem John L. | Sell | 1.2K | $5.01 |
| 2026-01-21 | Nash Marc | Sell | 980 | $4.98 |
| 2026-01-21 | Trigg Leslie | Sell | 2.1K | $5.05 |
| 2026-01-20 | Brottem John L. | Sell | 9.3K | $5.12 |
| 2026-01-20 | Nash Marc | Sell | 5.4K | $5.12 |
| 2026-01-20 | Trigg Leslie | Sell | 12K | $5.12 |
| 2026-01-09 | Prange Karen | Grant | 19K | — |
| 2026-01-07 | Nash Marc | Sell | 108 | $4.27 |
| 2026-01-07 | Brottem John L. | Sell | 224 | $4.27 |
| 2026-01-07 | Trigg Leslie | Sell | 1.8K | $4.27 |
| 2025-12-01 | Drexler Karen | Sell | 1.5K | $4.37 |
| 2025-11-17 | Trigg Leslie | Sell | 916 | $4.60 |
| 2025-11-17 | Nash Marc | Sell | 247 | $4.60 |
| 2025-11-17 | Brottem John L. | Sell | 388 | $4.60 |
| 2025-08-25 | Nash Marc | Grant | 5.6K | — |
| 2025-08-15 | Trigg Leslie | Sell | 904 | $12.88 |
| 2025-08-15 | Nash Marc | Sell | 243 | $12.88 |
| 2025-08-15 | Brottem John L. | Sell | 383 | $12.88 |
| 2025-06-10 | Nash Marc | Grant | 30K | — |
| 2025-06-10 | Brottem John L. | Grant | 36K | — |
| 2025-06-10 | Trigg Leslie | Grant | 65K | — |
| 2025-06-10 | Gaeta Renee | Grant | 131K | — |
| 2025-06-02 | GROSSMAN D KEITH | Grant | 9.0K | — |
| 2025-06-02 | Saia Andrea Lynn | Grant | 9.0K | — |
| 2025-06-02 | OBOYLE KEVIN C | Grant | 9.0K | — |
| 2025-06-02 | LANG BRENT D. | Grant | 9.0K | — |
| 2025-06-02 | HACKETT PATRICK T | Grant | 9.0K | — |
| 2025-06-02 | Drexler Karen | Grant | 9.0K | — |
| 2025-05-15 | Brottem John L. | Sell | 396 | $17.82 |
| 2025-05-15 | Nash Marc | Sell | 252 | $17.82 |
| 2025-05-15 | Ahmed Nabeel | Sell | 584 | $17.81 |
| 2025-05-15 | Trigg Leslie | Sell | 935 | $17.80 |
| 2025-05-14 | OBOYLE KEVIN C | Grant | 15K | — |
| 2025-03-10 | HACKETT PATRICK T | Option exercise | 1.2M | — |
| 2025-03-10 | HACKETT PATRICK T | Option exercise | 625K | — |
| 2025-03-10 | HACKETT PATRICK T | Option exercise | 1.2M | — |
| 2025-03-10 | Trigg Leslie | Option exercise | 625K | — |
| 2025-03-10 | LANG BRENT D. | Option exercise | 250K | — |
| 2025-03-10 | Drexler Karen | Option exercise | 31K | — |
| 2025-03-10 | GROSSMAN D KEITH | Option exercise | 188K | — |
| 2025-02-18 | Trigg Leslie | Sell | 15K | $0.90 |
| 2025-02-18 | Nash Marc | Sell | 4.2K | $0.90 |
| 2025-02-18 | Brottem John L. | Sell | 6.1K | $0.90 |
| 2025-02-18 | Ahmed Nabeel | Sell | 8.7K | $0.90 |
| 2025-01-21 | Brottem John L. | Sell | 29K | $0.80 |
| 2025-01-21 | Ahmed Nabeel | Sell | 907 | $0.80 |
| 2025-01-21 | Ahmed Nabeel | Sell | 29K | $0.80 |
| 2025-01-21 | Ahmed Nabeel | Sell | 3.9K | $0.80 |
| 2025-01-21 | Trigg Leslie | Sell | 4.4K | $0.80 |
| 2025-01-21 | Trigg Leslie | Sell | 42K | $0.80 |
| 2025-01-21 | Trigg Leslie | Sell | 18K | $0.80 |
| 2025-01-21 | Nash Marc | Sell | 356 | $0.80 |
| 2025-01-21 | Nash Marc | Sell | 22K | $0.80 |
| 2025-01-21 | Nash Marc | Sell | 971 | $0.80 |
| 2025-01-21 | Nash Marc | Sell | 304 | $0.80 |
| 2025-01-21 | Brottem John L. | Sell | 777 | $0.80 |
| 2025-01-21 | Brottem John L. | Sell | 2.7K | $0.80 |
| 2025-01-17 | Brottem John L. | Grant | 9.1K | — |
| 2025-01-17 | Trigg Leslie | Grant | 99K | — |
| 2025-01-17 | Nash Marc | Grant | 4.5K | — |
| 2025-01-17 | Nash Marc | Grant | 1.4K | — |
| 2025-01-17 | Ahmed Nabeel | Grant | 13K | — |
| 2025-01-13 | Trigg Leslie | Sell | 33K | $0.81 |
| 2025-01-13 | Nash Marc | Sell | 15K | $0.81 |
| 2025-01-13 | Brottem John L. | Sell | 20K | $0.81 |
| 2025-01-13 | Ahmed Nabeel | Sell | 29K | $0.81 |
| 2025-01-07 | Trigg Leslie | Sell | 10K | $1.29 |
| 2025-01-07 | Nash Marc | Sell | 720 | $1.29 |
| 2025-01-07 | Brottem John L. | Sell | 1.6K | $1.29 |
| 2025-01-07 | Ahmed Nabeel | Sell | 1.8K | $1.29 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-17 | Material agreementResultsExhibits | filing ↗ |
| 2026-06-05 | Shareholder vote | filing ↗ |
| 2026-05-29 | Exec/director change | filing ↗ |
| 2026-05-07 | ResultsExhibits | filing ↗ |
| 2026-02-11 | ResultsExhibits | filing ↗ |
| 2026-01-27 | OtherExhibits | filing ↗ |
| 2026-01-12 | ResultsExec/director changeReg FDExhibits | filing ↗ |
| 2025-11-10 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-17 | 2026-06-14 | 0001193125-26-274135 ↗ |
| 8-K | 2026-06-05 | 2026-06-04 | 0001193125-26-259527 ↗ |
| 8-K | 2026-05-29 | 2026-05-26 | 0001193125-26-248237 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001193125-26-212481 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001193125-26-211980 ↗ |
| 10-K | 2026-02-13 | 2025-12-31 | 0001193125-26-051278 ↗ |
| 8-K | 2026-02-11 | 2026-02-11 | 0001193125-26-046588 ↗ |
| 8-K | 2026-01-27 | 2026-01-27 | 0001193125-26-023428 ↗ |
| 8-K | 2026-01-12 | 2026-01-07 | 0001193125-26-009865 ↗ |
| 8-K | 2025-11-10 | 2025-11-10 | 0001193125-25-274193 ↗ |
| 10-Q | 2025-11-10 | 2025-09-30 | 0001193125-25-274504 ↗ |
| 10-Q | 2025-08-07 | 2025-06-30 | 0000950170-25-104300 ↗ |