Kestra Medical Technologies, Ltd. Earnings Summary — Q3 2026

• Revenue grew significantly to $24.55 million in Q3 2026, marking a 62.7% increase year-over-year as the ASSURE system gains market share.
• Gross margins improved to 52.57%, up from 43.39% in the same quarter last year, reflecting better manufacturing scale and pricing.
• Net loss widened to $34.17 million compared to a $21.76 million loss in Q3 2025, driven by higher SG&A investment for commercial ramp-up.
• The company's share count increased 180.85% year-over-year following capital raises, which helped reduce the per-share loss (EPS) despite larger absolute losses.
• Operating expenses remain high at $47.67 million, significantly exceeding total revenue as the company prioritizes market penetration over immediate profitability.
• Research and Development spending increased to $4.97 million, supporting ongoing technological differentiation in the wearable cardioverter defibrillator market.

Management remains focused on the commercial ramp-up of the ASSURE system to challenge incumbent monopolies through technological differentiation, emphasizing patient comfort and connectivity.

Stable

While top-line growth is robust and gross margins are expanding, the company continues to experience high cash burn and widening absolute net losses typical of early-stage medical device commercialization.

The company is in a high-growth, high-burn phase, likely requiring continued access to capital markets to fund its penetration into the US cardiac monitoring and reimbursement landscape.