SAN JOSE, CA—Marc Nash, the Senior Vice President of Operations and R&D at Outset Medical (TASE:PMCN), Inc. (NASDAQ:OM), has sold 720 shares of the company’s common stock, according to a recent SEC filing. The transaction, conducted on January 7, 2025, was valued at approximately $928, with shares sold at a price of $1.29 each.
Following this transaction, Nash retains ownership of 237,302 shares in the company. According to the filing, the shares were sold to cover tax withholding obligations related to previously earned performance stock units, and the sale does not represent a discretionary trade by Nash. InvestingPro analysis reveals that Outset Medical is currently undervalued, with 12 additional key insights available to subscribers, including detailed cash flow analysis and profitability metrics.
In other recent news, Outset Medical reported robust financial results for the third quarter of 2024. The company's Q3 revenue reached $28.7 million, surpassing guidance with treatment revenue up by 14% and service revenue by 22%. The year-to-date recurring revenue increased by 23%, with gross margin improving to 36.4%. Due to these positive results, Outset Medical has raised its 2024 revenue guidance to approximately $112 million.
Despite reporting a net loss of $20.2 million for the quarter, the company highlighted a decrease of 43% from the previous year. The company's resilience amid natural disasters and its ongoing commercial transformation were also emphasized during the earnings call. Outset Medical did not provide guidance for 2025 but reiterated a commitment to achieving a 50% gross margin.
Recurring revenue now constitutes about 60% of total revenue, indicating strong growth in home care through midsized dialysis organizations and skilled nursing facilities. The company's focus on improving sales processes and targeting is expected to yield full benefits in early 2025. With strong order pipelines and nearly half of the deals in advanced sales stages, Outset Medical's recent developments suggest continued success.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.