Outset Medical, Inc.
For the period ended Dec 31, 2025. Filed Feb 13, 2026.
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FY2025 · Filed Feb 13, 2026
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, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities: | |||
| Net loss | $(81,653) | $(127,976) | $(172,797) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Stock-based compensation expense | 15,616 | 29,356 | 38,634 |
| Depreciation and amortization | 4,341 | 5,728 | 5,810 |
| Non-cash lease expense | 1,583 | 1,435 | 1,271 |
| Non-cash interest expense | 2,758 | 2,574 | 1,828 |
| Amortization of premium on investments, net | (2,253) | (4,720) | (6,369) |
| Change in provision for inventories | (124) | 561 | 733 |
| Change in provision for credit losses | 3,515 | 2,374 | 184 |
| Loss on disposal of property and equipment | 5 | 53 | 106 |
| Loss on extinguishment of term loan | 7,685 | — | — |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 3,775 | (5,012) | (5,094) |
| Inventories | 11,793 | (10,857) | 1,647 |
| Prepaid expenses and other assets | (940) | 784 | 739 |
| Accounts payable | (3,293) | (1,948) | 5,312 |
| Accrued compensation and related benefits | (6,086) | (1,889) | (2,515) |
| Accrued expenses and other current liabilities | 1,519 | (5,168) | (2,621) |
| Accrued warranty liability | (564) | (1,774) | 91 |
| Deferred revenue | 604 | 1,769 | 3,015 |
| Operating lease liabilities | (1,913) | (1,593) | (1,347) |
| Accrued interest | (2,695) | — | — |
| Net cash used in operating activities | (46,327) | (116,303) | (131,373) |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (798) | (912) | (3,440) |
| Purchases of investment securities | (221,969) | (156,584) | (172,284) |
| Sales and maturities of investment securities | 125,083 | 261,434 | 258,750 |
| Net cash (used in) provided by investing activities | (97,684) | 103,938 | 83,026 |
| Cash flows from financing activities: | |||
| Proceeds from stock option exercises and ESPP purchases | 639 | 2,284 | 10,427 |
| Proceeds from issuance of term loans, net of issuance costs | 98,270 | 66,524 | 33,225 |
| Repayment of term loan and extinguishment costs | (204,954) | — | — |
| Proceeds from issuance of Series A convertible preferred stock, net of issuance costs | 161,548 | — | — |
| Payment of deferred financing costs | — | (938) | — |
| Net cash provided by financing activities | 55,503 | 67,870 | 43,652 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (88,508) | 55,505 | (4,695) |
| Cash, cash equivalents and restricted cash as of beginning of period | 127,343 | 71,838 | 76,533 |
| Cash, cash equivalents and restricted cash as of end of period | $38,835 | $127,343 | $71,838 |
| Summary of cash, cash equivalents and restricted cash reported within the balance sheets: | |||
| Cash and cash equivalents | $35,006 | $124,014 | $68,509 |
| Restricted cash | 3,829 | 3,329 | 3,329 |
| Total cash, cash equivalents and restricted cash | $38,835 | $127,343 | $71,838 |
Statements of Cash Flows
| Years Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Supplemental cash flow disclosures: | |||
| Cash paid for income taxes | $447 | $593 | $491 |
| Cash paid for interest | $15,634 | $20,685 | $10,847 |
| Cash paid for amounts included in the measurement of operating lease liabilities | $1,913 | $1,593 | $1,347 |
| Supplemental non-cash investing and financing activities: | |||
| Transfer of inventories to property and equipment | $109 | $148 | $119 |
| Right-of-use assets obtained in exchange for operating lease liabilities | $2,441 | $— | $528 |
| Fair value of common stock warrant | $4,367 | $— | $— |
| Issuance costs included in accrued expenses | $— | $266 | $— |
| Capital expenditures included in accounts payable and accrued expenses | $— | $31 | $159 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.