Kestra Medical Technologies reported QQ3 2023 revenue of $8.28 million with a gross margin of 10.6% ($0.88 million gross profit). The quarter shows a pronounced operating loss of $19.95 million and a net loss of $21.62 million, driven primarily by substantial operating expenses and a high R&D and SG&A burden. Despite a modest gross profit, the company’s operating leverage remains weak as it invests aggressively in R&D and market development for its Cardiac Recovery System ecosystem, which includes the ASSURE WCD wearable cardioverter defibrillator and connected digital health services. The company also experienced negative free cash flow of $20.76 million for the quarter, with cash burn from operating activities of $15.80 million and a net financing inflow of $11.90 million, leaving cash at period-end of $15.45 million.
Key Performance Indicators
Revenue
Stable
8.28M
QoQ: N/A | YoY: N/A
Gross Profit
Stable
880.00K
10.63% margin
QoQ: N/A | YoY: N/A
Operating Income
Stable
-19.95M
QoQ: N/A | YoY: N/A
Net Income
Stable
-21.62M
QoQ: N/A | YoY: N/A
EPS
Stable
-0.47
QoQ: N/A | YoY: N/A
Revenue Trend
Margin Analysis
Financial Highlights
Revenue: $8.2777 million; Cost of Revenue: $7.3970 million; Gross Profit: $0.8800 million; Gross Margin: 10.63%; Research & Development: $3.7350 million; Selling, General & Administrative: $17.0910 million; Operating Expenses: $20.8260 million; Total Expenses: $28.2230 million; EBITDA: -$16.5910 million; EBITDARatio: -200.447% (relative to revenue); Operating Income: -$19.9460 million; Operating Margin: -24.098% (approx. -2.41% when expressed as a ratio to revenue); Total Other Income/Expenses: -$1.6590 million; Income Before Tax: -$21.6050 million; Income Tax Benefit/Expense: $0.0140 million; Net Income: -$21.6190 million; Net Income Margin: -26.12%; EPS: -$0.47; Weighted Avg Shares Outstanding: 49.5338 million; Free Cash Flow: -$20.7640 million; Net Cash Provided by Operating Activities: -$15.7960 million; Cash at End of Period: $15.4540 million; Cash at Beginning of Period: $24.3180 million; Net Change in Cash: -$8.8640 million; Operating Cash Flow: -$15.7960 million; Capital Expenditures: -$4.9680 million.
Income Statement
Metric
Value
YoY Change
QoQ Change
Key Financial Ratios
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Kestra Medical Technologies Ltd Common Stock (KMTS) QQ4 2023 Results Analysis – Revenue Growth in a Cash-Burn Phase within Wearable Cardiac Care and...