By Connor Hart

Shares of Outset Medical fell after the company cut its full-year outlook after missing out on some expected sales during the third quarter.

The stock declined 26% to $8.93 in premarket trading Tuesday. Through Monday's close, shares have lost nearly 28% of their value so far this year.

The medical technology company late Monday said it now expects full-year revenue of $115 million to $120 million, down from a prior range of $122 million to $126 million. Analysts polled by FactSet had been expecting revenue of $124.1 million for the year.

Outset Medical continues to expect adjusted gross margins in the high-30% range. The company said it expects to use less than $50 million of cash in 2025, compared with over $100 million used last year.

Chief Executive Leslie Trigg said the expected timing to close "several large opportunities forecasted for the second half of 2025 has shifted."

"These opportunities remain in the final stages of our sales process and are now expected to close over the fourth quarter and into early 2026," she added.

For its three months ended Sept. 30, Outset Medical posted a net loss of $17.8 million, or $1 a share, compared with a loss of $27.9 million, or $8.02 a share, a year earlier.

On an adjusted basis, the company's net loss was 69 cents a share. Analysts were looking for an adjusted loss of 66 cents a share.

Revenue edged up 2.7% to $29.4 million but missed the $30.7 million that Wall Street modeled.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

November 11, 2025 06:32 ET (11:32 GMT)

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