Outset Medical, Inc. (NASDAQ:OM) Q2 2024 Earnings Conference Call August 7, 2024 5:00 PM ET

Company Participants

Jim Mazzola - Head, Investor Relations
Leslie Trigg - Chair & Chief Executive Officer
Nabeel Ahmed - Chief Financial Officer

Conference Call Participants

Marie Thibault - BTIG
Rick Wise - Stifel
Shagun Sing - RBC Capital Markets
Suraj Kalia - Oppenheimer
Kristen Stewart - CL King
Stephanie Piazzola - Bank of America Securities
Drew Ranieri - Morgan Stanley
Josh Jennings - TD Cowen

Operator

Ladies and gentlemen, thank you for standing by. Welcome to Outset Medical Second Quarter 2024 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 like now to turn the conference over to Jim Mazzola, Head of Investor Relations. Please go ahead.

Jim Mazzola

Okay. Thank you very much. Good afternoon, everyone, and sorry for starting a few minutes late here. Welcome to our second quarter 2024 earnings call.

Here with me, as always, are Leslie Trigg, Chair and Chief Executive Officer; and Nabeel Ahmed, Chief Financial Officer. We issued a news release after the close of market today, which can be found on the Investor page of outsetmedical.com. This call is being recorded and will be archived on the Investors section of our website.

It's 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. And for a list -- and description of risks and uncertainties associated with our business, please refer to the Risk Factors section of Outset's public filings with the SEC, including our latest annual and quarterly reports. Leslie?

Leslie Trigg

Thanks, Jim. Good afternoon, everyone, and thank you for joining us. I'll begin with our results in the second quarter, which on the top line, we're below our expectations as we work through the re-ramp of TabloCart and saw new evidence of our sales cycle elongating. Areas of strength in the quarter included treatment sales, which grew 25% year-over-year; console ASP, which increased more than 8% year-over-year; the console installed base, which grew 18% year-over-year; and the number of acute facilities using Tablo, which grew 16% year-over-year.