Outset Medical, Inc. · NASDAQ:OM
Outset Medical — Investor Presentation (January 2026)
18 slides from Outset Medical's investor presentation, Jan 12, 2026
Slide 1: Outset Medical Investor Presentation 2026
Outset Medical Investor Presentation 2026
Slide 2: Forward-looking statements and non-GAAP information
Forward-looking statements and non-GAAP information This presentation and the accompanying oral statements contain forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical fact are forward-looking statements. In some cases, you
Slide 3: Dialysis care that improves patient outcomes with lower cost and less complexity
Dialysis care that improves patient outcomes with lower cost and less complexity.
Slide 4: Investment Highlights
Investment Highlights ~70+% recurring revenue powered by predictable utilization Enterprise dialysis solution differentiated by expert know-how, trusted technology and exceptional service Strong cash position, capitalized through breakeven More than 1,000 sites of care performing >1,000,000 treatmen
Slide 5: Dialysis is one of the largest, most expensive, least-changed sectors of healthcare
5%2 Medicare spend for 1%2 ESRD Patients CURRENT STATE Dialysis is one of the largest, most expensive, least-changed sectors of healthcare $71B1 Annual spending on U.S. ESRD patients $55B1 Paid by Medicare 558,0001 Dialysis patients 90M1 Annual dialysis treatments 1. Company estimates based on data
Slide 6: Inpatient dialysis is unreimbursed and a significant cost burden for hospitals
CURRENT STATE NEARLY 2X higher ICU admission rate3 About 2.5X HIGHER COST per stay3 Roughly 5-DAY LONGER length-of-stay (LOS)3 $5,000–$25,000: Average loss by hospital for each inpatient stay for renal failure with dialysis2 135,000 NEW ESRD PATIENTS diagnosed annually in the U.S.1 More than 800,000
Slide 7: Outsourcing the dialysis service line led to unintended consequences
“Outsourcing” the dialysis service line became the historic standard… …leading to unintended consequences 1. Sg2, In-Hospital Dialysis Outcomes & Costs, 2025. 2. Saffer & Mesiwala, Kidney Medicine, 2023 3. Nuermaimaiti et al., Scientific Reports, 2025. 4. Lindsay & Lytle, Applied Clinical Informatic
Slide 8: We see a better way forward
We see a better way forward
Slide 9: Tablo is a first-of-its-kind technology to reduce cost and complexity of dialysis
Tablo® is a first-of-its- kind technology designed to reduce the cost and complexity of dialysis Connected and intelligent Small and mobile Single device from bedside to ICU
Slide 10: A comprehensive enterprise dialysis solution
A comprehensive enterprise dialysis solution Data Analytics & Fleet Management EMR Interoperability Implementation Services & Bridge Nursing Advanced Service & Support Tools
Slide 11: Hospitals bringing dialysis in-house are transforming results
Hospitals bringing dialysis in-house are transforming results 1. Nichols et al., Journal of Medical Economics, 2024. 2. Outset Medical, Norman Regional In-House Dialysis Case Study, 2025. 3. Cleveland Clinic, ICU Dialysis Program Case Study, 2021. 36% Reduction in ICU LOS¹ Reduction in CLABSI² COST
Slide 12: Insource with Outset
INSOURCE WITH OUTSET Experienced partner at scale >1 million treatments Annually 3+ million cumulative treatments >10,000 nurses and 1,000 physicians trained 10 of 10 LARGEST SUBACUTE PROVIDERS ~1,000 UNIQUE ACUTE SITES 8 of 8 TOP NATIONAL HEALTH SYSTEMS Extensive clinical evidence: 70+ abstracts 15
Slide 13: The Home market is significantly underpenetrated
The Home market is significantly underpenetrated EMERGING OPPORTUNITY REIMBURSEMENT Medicare reimbursement misaligned with treatment frequency Historical barriers EDUCATION Patient and physician awareness low TECHNOLOGY Cumbersome technology and training
Slide 14: Tablo addresses key barriers to home dialysis adoption and retention
Tablo addresses key barriers to home dialysis adoption and retention HOME CARE 5–6 Treatments per week 100 hours Training per patient 16–24 hours Dialysate prep time per week Historical device 3 Treatments per week <25 hours1 Training per patient 0 hours Dialysate prep time 1 Hemodialysis Internatio
Slide 15: Powerful recurring revenue model
Software Data/analytics EMR interoperability Expanded professional services Consumables Service contracts Powerful recurring revenue model ~70% of total revenue ACUTE $20,000 per console per year HOME $15,000 per console per year Growth potential
Slide 16: Strong financial foundation entering 2026
Strong financial foundation entering 2026 2025 Revenue1 $119.5M ~70% Percent of revenue from recurring sources 1 Revenue and cash figures are preliminary and unaudited. Cash position includes estimated cash, cash equivalents, restricted cash and short-term investments at Dec. 31, 2025. Figures on sl
Slide 17: Outset Medica Ine Catal atic ine sua, Outset Medical, nc S ©
Outset Medica Ine Catal atic ine sua, Outset Medical, nc 8 S © stem at Nato Park Medial C8 Os Mica developed Tablo —afst-ofit -omplexity of cialis anywhere it's delivered, for home. For the fist time a single system can deliv Outset Medical, inc. ) Hoppy #NephrologyNursesWeek f the incredible nephro
Slide 18: Outset Medical
Outset Medical 3052 Orchard Drive San Jose, CA 95134 outsetmedical.com For Important safety information, please refer to: https://www.outsetmedical.com/indications/
Outset Medical — Investor Presentation (January 2026) on 6ix