Kestra Medical Technologies reported Q4 2023 revenue of $10.054 million, up from $8.277 million in the prior quarter, signaling near-term topline acceleration in a nascent growth phase. Gross profit reached $1.397 million with a gross margin of 13.9%, up from 10.6% in Q3, indicating improved cost absorption as volumes scale. Despite the revenue uptick and gross margin expansion, the company generated substantial operating losses and negative free cash flow, with EBITDA of -$16.874 million and net income of -$22.284 million for the quarter. The operating cash burn was $14.948 million in the quarter, contributing to a cumulative cash balance of $8.583 million at quarter-end (down from $15.454 million at the start of the period). Financing activities provided $12.236 million, partially offsetting cash burn but leaving the business with a fragile liquidity runway absent additional capital or operating leverage.