Why Shares of Outset Medical Are Down Tuesday
Shares of Outset Medical (NASDAQ: OM) were down by 12.1% as of late Tuesday morning. The healthcare company released its fourth-quarter and full-year financials after the close of trading Monday. The stock is down more than 29% over the past year, but up more than 28% over the past three months. Outset has a 52-week low of $11.41 and a 52-week high of $48.71.
A lot of the numbers in the report were positive. Revenue for the fourth quarter was $32 million, up 14% year over year. Full-year revenue was $115.4 million, up 12.4% from 2021.
However, the company's losses increased. Outset reported a fourth-quarter loss of $41.4 million, compared to a loss of $41.2 million in the same quarter a year ago. For the year, the company reported a loss of $163 million, compared to a loss of $131.9 million in 2021.
Source Fool.com
