Outset Medical, Inc. (NASDAQ:OM) Q3 2022 Earnings Conference Call November 8, 2022 5:00 PM ET

Company Participants

Jim Mazzola – Vice President-Investor Relations

Leslie Trigg – Chair and Chief Executive Officer

Nabeel Ahmed – Chief Financial Officer

Conference Call Participants

Travis Steed – BofA Securities

Joshua Jennings – Cowen

Phil Coover – Goldman Sachs

Rick Wise – Stifel

Suraj Kalia – Oppenheimer

Drew Ranieri – Morgan Stanley

Operator

Good day and thank you for standing by. Welcome to Outset Medical Third Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today Jim Mazzola, Vice President of Investor Relations. Go ahead, please.

Jim Mazzola

Great, thank you, and good afternoon everyone. Welcome to our third quarter 2022 earnings call. Here with me today are Leslie Trigg, Chair and Chief Executive Officer; and Nabeel Ahmed, Chief Financial Officer. During the call, we will discuss our third quarter operational and financial results, provide an update on our outlook, and host the question-and-answer session. We issued a news release after the close of market today and updated our investor presentation, both of which can be found on the investor pages of outsetmedical.com. This call is being recorded, and will be archived in the Investors section of our website.

It is our intent that all forward-looking statements made during today's call will be protected under the Private Securities Litigation Reform Act of 1995. These statements relate to expectations or predictions of future events are based on our current estimates and various assumptions, and involve material risks and uncertainties that could cause actual results or events to materially differ from those anticipated or implied. Outset assumes no obligation to update these statements. For a list and description of the risks and uncertainties associated with our business please refer to the Risk Factors section of Outset's public filings, with the Securities and Exchange Commission, including our latest annual and quarterly reports.

With that, let me now turn the call over to Leslie.

Leslie Trigg

Thanks, Jim. Good afternoon everyone and thank you for joining us. We are very pleased to share our third quarter 2022 results, which were marked by strong revenue growth and a home re-ramp that outpaced our expectations. On the acute side, we were encouraged by meaningful Tablo expansion among current customers and adoption from new customers despite lingering staffing and inflationary pressures. On the home front, the early success of our rebuilding process validated our strong relationships with home providers and patient preference for Tablo. What’s more just following the close of the quarter, we shift our 1 million treatment for Tablo. I am immensely proud of the impact our team has been able to make in the lives of patients in such a short period of time. Based on Q3 momentum, we are raising our fiscal year 2022 revenue guidance today to reflect our continued confidence in the strong underlying market fundamentals and demand for Tablo across our acute and home end market.