$OM
Outset Medical, Inc.

2021 Q2 Form 10-Q Financial Statement

#000156459021041765 Filed on August 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $25.22M $11.74M
YoY Change 114.75% 308.84%
Cost Of Revenue $24.16M $16.51M
YoY Change 46.4% 124.88%
Gross Profit $1.052M -$4.764M
YoY Change -122.08% 6.58%
Gross Profit Margin 4.17% -40.57%
Selling, General & Admin $22.93M $14.09M
YoY Change 62.69% 110.33%
% of Gross Profit 2179.28%
Research & Development $8.032M $6.053M
YoY Change 32.69% 8.48%
% of Gross Profit 763.5%
Depreciation & Amortization $1.303M $380.0K
YoY Change 242.89% 0.0%
% of Gross Profit 123.86%
Operating Expenses $30.96M $20.15M
YoY Change 53.68% 64.05%
Operating Profit -$29.91M -$24.91M
YoY Change 20.06% 48.71%
Interest Expense $431.0K $1.032M
YoY Change -58.24% -412.73%
% of Operating Profit
Other Income/Expense, Net $164.0K -$630.0K
YoY Change -126.03% -1360.0%
Pretax Income -$30.17M -$26.51M
YoY Change 13.82% 55.67%
Income Tax $35.00K $0.00
% Of Pretax Income
Net Earnings -$30.21M -$26.51M
YoY Change 13.97% 55.65%
Net Earnings / Revenue -119.8% -225.73%
Basic Earnings Per Share -$0.66 -$4.58
Diluted Earnings Per Share -$0.66 -$4.58
COMMON SHARES
Basic Shares Outstanding 45.68K
Diluted Shares Outstanding 45.68K

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $396.2M $140.4M
YoY Change 182.2%
Cash & Equivalents $274.3M $141.9M
Short-Term Investments $121.9M $2.500M
Other Short-Term Assets $6.459M $5.700M
YoY Change 13.32%
Inventory $28.88M $6.500M
Prepaid Expenses
Receivables $16.41M $7.200M
Other Receivables $0.00 $0.00
Total Short-Term Assets $448.0M $159.9M
YoY Change 180.15%
LONG-TERM ASSETS
Property, Plant & Equipment $23.03M $20.00M
YoY Change 15.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $33.83M $5.600M
YoY Change 504.04%
Total Long-Term Assets $56.85M $25.50M
YoY Change 122.95%
TOTAL ASSETS
Total Short-Term Assets $448.0M $159.9M
Total Long-Term Assets $56.85M $25.50M
Total Assets $504.8M $185.4M
YoY Change 172.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.364M $3.500M
YoY Change -32.46%
Accrued Expenses $23.57M $16.40M
YoY Change 43.74%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $29.40M
YoY Change
Total Short-Term Liabilities $35.44M $53.60M
YoY Change -33.88%
LONG-TERM LIABILITIES
Long-Term Debt $29.72M $0.00
YoY Change
Other Long-Term Liabilities $8.490M $13.60M
YoY Change -37.57%
Total Long-Term Liabilities $29.72M $13.60M
YoY Change 118.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $35.44M $53.60M
Total Long-Term Liabilities $29.72M $13.60M
Total Liabilities $73.65M $67.20M
YoY Change 9.6%
SHAREHOLDERS EQUITY
Retained Earnings -$554.3M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $431.2M -$334.1M
YoY Change
Total Liabilities & Shareholders Equity $504.8M $185.4M
YoY Change 172.28%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$30.21M -$26.51M
YoY Change 13.97% 55.65%
Depreciation, Depletion And Amortization $1.303M $380.0K
YoY Change 242.89% 0.0%
Cash From Operating Activities -$30.84M -$19.17M
YoY Change 60.86% -4.63%
INVESTING ACTIVITIES
Capital Expenditures -$846.0K -$2.190M
YoY Change -61.37% 73.81%
Acquisitions
YoY Change
Other Investing Activities -$96.61M $8.500M
YoY Change -1236.6% -3.95%
Cash From Investing Activities -$97.46M $6.310M
YoY Change -1644.48% -16.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $149.1M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 150.8M 30.00K
YoY Change 502586.67% -81.25%
NET CHANGE
Cash From Operating Activities -30.84M -19.17M
Cash From Investing Activities -97.46M 6.310M
Cash From Financing Activities 150.8M 30.00K
Net Change In Cash 22.51M -12.83M
YoY Change -275.46% 3.89%
FREE CASH FLOW
Cash From Operating Activities -$30.84M -$19.17M
Capital Expenditures -$846.0K -$2.190M
Free Cash Flow -$29.99M -$16.98M
YoY Change 76.63% -9.87%

Facts In Submission

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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
18932000
CY2021Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
4900000
CY2021Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
4400000
CY2021Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2021Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
500000
CY2021Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1000000.0
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2600000
CY2021Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0
us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
0
us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
0
CY2021Q2 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
0
CY2020Q2 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
0
CY2021Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
13449000
CY2020Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
7989000
CY2021Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
6610000
CY2021Q2 om Accrued Inventory Current
AccruedInventoryCurrent
2096000
CY2020Q4 om Accrued Inventory Current
AccruedInventoryCurrent
3576000
CY2021Q2 om Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
703000
CY2020Q4 om Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
175000
CY2021Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1324000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2187000
CY2021Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
5133000
CY2020Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1965000
CY2021Q2 om Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
9256000
CY2020Q4 om Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
7903000
CY2020Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
2913000
CY2019Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
1702000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
3545000
CY2020 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
4858000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
3385000
CY2020 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
3647000
CY2021Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
3073000
CY2020Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
2913000
CY2021Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
30000000
CY2020Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
30000000
CY2021Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
282000
CY2020Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
326000
CY2021Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
29718000
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
29674000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3937000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
683000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9789000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1263000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
44228000
CY2021Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
45680000
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5784000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-30208000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-26505000
us-gaap Net Income Loss
NetIncomeLoss
-60233000
us-gaap Net Income Loss
NetIncomeLoss
-47155000
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
362000
om Deemed Dividend On Settlement Of Accrued Dividend
DeemedDividendOnSettlementOfAccruedDividend
42530000
CY2021Q2 om Net Income Loss Attributable To Common Stockholders Basic And Diluted
NetIncomeLossAttributableToCommonStockholdersBasicAndDiluted
-30208000
CY2020Q2 om Net Income Loss Attributable To Common Stockholders Basic And Diluted
NetIncomeLossAttributableToCommonStockholdersBasicAndDiluted
-26505000
om Net Income Loss Attributable To Common Stockholders Basic And Diluted
NetIncomeLossAttributableToCommonStockholdersBasicAndDiluted
-60233000
om Net Income Loss Attributable To Common Stockholders Basic And Diluted
NetIncomeLossAttributableToCommonStockholdersBasicAndDiluted
-4987000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5086000
CY2021Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.66
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-4.58
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.36
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.98
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5216000
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
31487000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5216000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
31487000

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