Outset Medical (NSDQ:OM) posted second-quarter results this week that beat the overall consensus on Wall Street.
The San Jose, Calif.–based maker of the Tablo is a dialysis machine reported losses of -$30.2 million, or -66¢ per share, on sales of $25.2 million for the three months ended June 30, 2021, for a sales growth of 114.75% compared with Q2 2020.
Adjusted to exclude one-time items, earnings per share were -57¢, 12¢ ahead of The Street, where analysts were looking for sales of $23.49 million.
“In the first half of 2021, we delivered best-in-class revenue growth and steady gross margin improvement driven by a team that is dedicated to, and united around, transforming the dialysis experience for patients and providers,” president and CEO Leslie Trigg said in a news release out yesterday evening. “With new home console bookings up substantially in the second quarter, and both current and new customers purchasing Tablo for acute use, our integrated commercial strategy is working as expected. We remain confident in our ability to execute on each of our key strategic initiatives for 2021 and in our long-term growth prospects.”
Outset Medical said it projects full-year revenue to be in the range of $97 million to $100 million.
The company also announced that Nabeel Ahmed has transitioned to the permanent role of chief financial officer, effective immediately. Ahmed joined the company in May 2020 as VP and controller and has served as interim chief financial officer since July 16.
Shares in OM were up 3.43% to $40.37 apiece in mid-morning trading. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was down slightly.
