Outset Medical Lowers FY24 Revenue Guidance From $145M-$153M To Approximately $110M vs $146.41M Est.; Sees Non-GAAP Gross Margin In Low-To-Mid 30% Range.
Portfolio Pulse from Benzinga Newsdesk
Outset Medical has lowered its FY24 revenue guidance from $145M-$153M to approximately $110M, which is below the estimated $146.41M. The company also expects its non-GAAP gross margin to be in the low-to-mid 30% range.
August 07, 2024 | 8:18 pm
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Outset Medical has significantly lowered its FY24 revenue guidance to approximately $110M, well below the previous range of $145M-$153M and the estimated $146.41M. The company also projects its non-GAAP gross margin to be in the low-to-mid 30% range.
The significant reduction in revenue guidance and lower-than-expected gross margin are likely to negatively impact investor sentiment and the stock price in the short term.
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