Outset Medical Inc
For the period ended Dec 31, 2023. Filed Feb 21, 2024.
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FY2023 · Filed Feb 21, 2024
OM$4.12-2.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Statements of Cash Flows
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net loss | $(172,797) | $(162,956) | $(131,935) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Stock-based compensation expense | 38,634 | 27,203 | 17,445 |
| Depreciation and amortization | 5,810 | 5,169 | 5,162 |
| Non-cash lease expense | 1,271 | 1,114 | 1,022 |
| Non-cash interest expense | 1,828 | 381 | 569 |
| Accretion (amortization) of discount (premium) on investments, net | (6,369) | 449 | 1,972 |
| Provision for inventories | 733 | 2,610 | 1,023 |
| Other non-cash items | 290 | 76 | 81 |
| Loss on extinguishment of term loan | — | 1,367 | — |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (5,094) | (2,506) | (19,137) |
| Inventories | 1,647 | (14,730) | (22,042) |
| Prepaid expenses and other assets | 739 | (1,215) | 1,860 |
| Accounts payable | 5,312 | (1,281) | (3,066) |
| Accrued compensation and related benefits | (2,515) | (3,428) | 8,103 |
| Accrued expenses and other current liabilities | (2,621) | 1,811 | 5,889 |
| Accrued warranty liability | 91 | (83) | 791 |
| Deferred revenue | 3,015 | 2,161 | 2,881 |
| Operating lease liabilities | (1,347) | (1,150) | (882) |
| Accrued interest | — | (721) | — |
| Net cash used in operating activities | (131,373) | (145,729) | (130,264) |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (3,440) | (8,325) | (3,108) |
| Purchases of investment securities | (172,284) | (261,154) | (178,432) |
| Maturities of investment securities | 258,750 | 203,184 | 39,033 |
| Net cash provided by (used in) investing activities | 83,026 | (66,295) | (142,507) |
| Cash flows from financing activities: | |||
| Proceeds from stock option exercises and ESPP purchases | 10,427 | 8,042 | 11,062 |
| Proceeds from issuance of term loans, net of issuance costs | 33,225 | 96,059 | — |
| Repayment of term loan and extinguishment costs | — | (31,203) | — |
| Proceeds from issuance of common stock upon the follow-on public offering, net of issuance costs | — | — | 149,085 |
| Net cash provided by financing activities | 43,652 | 72,898 | 160,147 |
| Net decrease in cash, cash equivalents and restricted cash | (4,695) | (139,126) | (112,624) |
| Cash, cash equivalents and restricted cash as of beginning of period | 76,533 | 215,659 | 328,283 |
| Cash, cash equivalents and restricted cash as of end of period | $71,838 | $76,533 | $215,659 |
| Supplemental cash flow disclosures: | |||
| Cash paid for income taxes | $491 | $385 | $83 |
| Cash paid for interest | $10,847 | $3,185 | $1,146 |
| Cash paid for amounts included in the measurement of operating lease liabilities | $1,347 | $1,150 | $882 |
Statements of Cash Flows
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Supplemental non-cash investing and financing activities: | |||
| Capital expenditures included in accounts payable and accrued expenses | $159 | $167 | $121 |
| Right-of-use assets obtained in exchange for operating lease liabilities | $528 | $— | $— |
| Transfer of inventories to property and equipment | $119 | $28 | $1,410 |
| Deferred financing costs included in accrued expenses | $— | $750 | $— |
| Transfer of property and equipment to inventories | $— | $199 | $1,192 |
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