Kestra Medical Technologies Net Loss Widens to $92.8M in First Nine Months of FY2026
The medical device company posted a $92.8 million net loss for the nine months ending January 31, 2026, compared to a $61.8 million loss in the prior-year period, as operating expenses surged 72%.
Kestra Medical Technologies, Ltd., a medical device company, reported a net loss of $92.8 million for the nine months ending January 31, 2026, up from a $61.8 million loss in the same period a year earlier. Revenue climbed 56% to $66.5 million from $42.6 million, but operating expenses jumped 72% to $128.6 million from $74.7 million. Read more earnings reports.
The company generated $24.6 million in revenue for the three months ending January 31, 2026, a 63% increase from $15.1 million in the prior-year quarter. The quarterly net loss widened to $34.2 million from $21.5 million as operating expenses rose to $47.7 million from $27.1 million.
Gross profit for the nine-month period doubled to $33.2 million from $16.6 million, while the quarterly gross profit rose to $12.9 million from $6.5 million. Cost of goods sold increased to $33.3 million for the nine months from $26.0 million in the prior-year period.
Selling, general and administrative expenses accounted for the bulk of operating costs, rising to $114.7 million for the nine months from $64.5 million a year earlier. Research and development expenses increased to $13.9 million from $10.3 million.
Cash and Balance Sheet
Cash and cash equivalents stood at $291.3 million as of January 31, 2026, up from $237.6 million as of April 30, 2025, and $54.4 million a year earlier. The company raised $147.3 million from financing activities during the nine months, while burning through $63.0 million in operations and investing $30.6 million.
Total assets grew to $379.3 million from $295.7 million as of April 30, 2025. Property, plant and equipment increased to $53.8 million from $34.8 million. Total liabilities rose slightly to $91.4 million from $90.3 million, with long-term debt at $42.3 million compared to $41.1 million.
The company's accumulated deficit expanded to $613.0 million from $520.2 million at the end of fiscal 2025. Shares outstanding increased to 58.3 million from 51.3 million.
Per-Share Results
The company reported a diluted loss of $1.76 per share for the nine months ending January 31, 2026, compared to a $3.56 loss per share in the prior-year period. The quarterly diluted loss was $0.61 per share versus $1.25 per share a year earlier.
Weighted average shares outstanding on a diluted basis rose to 52.8 million for the nine months from 19.9 million in the prior-year period, reflecting the company's capital-raising activities.
| Metric | 9M FY2026 | 9M FY2025 | Change |
|---|---|---|---|
| Revenue | $66.5M | $42.6M | +56% |
| Gross Profit | $33.2M | $16.6M | +100% |
| Operating Loss | ($95.4M) | ($58.2M) | +64% |
| Net Loss | ($92.8M) | ($61.8M) | +50% |
| Loss Per Share (Diluted) | ($1.76) | ($3.56) | -51% |
| Cash & Equivalents | $291.3M | $237.6M* | +23% |
*As of April 30, 2025