KESTRA MEDICAL TECHNOLOGIES, LTD. KMTS
We are a commercial-stage wearable medical device and digital healthcare company focused on transforming patient outcomes in cardiovascular disease through connected monitoring, therapeutic intervention, and data-driven clinical insights. We have developed and are commercializing the Cardiac Recovery System platform, an integrated cardiac recovery ecosystem designed to support patients at elevated risk of sudden cardiac arrest ("SCA") during vulnerable periods of recovery.
Our Cardiac Recovery System platform is anchored by the ASSURE® Wearable Cardioverter Defibrillator ("WCD"), which continuously monitors patient heart rhythms and automatically delivers defibrillation therapy when life-threatening ventricular arrhythmias are detected. The platform also includes digital patient engagement and clinical workflow solutions designed to improve patient adherence, support care coordination, and provide actionable clinical insights throughout the recovery process.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $95.1M | $59.8M | $27.8M | — |
| Cost of revenue | $46.3M | $35.6M | $27.5M | — |
| Gross profit | $48.9M | $24.2M | $362.0K | — |
| R&D | $19.5M | $15.7M | $15.5M | — |
| SG&A | $164.1M | $114.9M | $69.9M | — |
| Total operating expenses | $183.6M | $130.6M | $85.4M | — |
| Operating income | -$134.7M | -$106.4M | -$85.1M | — |
| Interest expense | $7.5M | $7.7M | $6.2M | — |
| Pre-tax income | -$131.3M | -$113.7M | -$94.1M | — |
| Income tax | $294.0K | $135.0K | $24.0K | — |
| Net income | -$131.6M | -$113.8M | -$94.1M | — |
| EPS, basic | -2.43 | -5.13 | -5.07 | — |
| EPS, diluted | -2.43 | -5.13 | -5.07 | — |
| Shares, diluted (wtd. avg.) | $54.2M | $24.6M | $19.9M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and equivalents | $99.7M | $237.6M | $8.6M | $15.3M |
| Short-term investments | $96.7M | — | — | — |
| Receivables | $14.5M | $8.1M | $2.0M | — |
| Total current assets | $222.4M | $255.3M | $14.9M | — |
| Property, plant and equipment | $59.1M | $34.8M | $26.1M | — |
| Total assets | $358.5M | $295.7M | $45.9M | — |
| Accounts payable | $27.3M | $24.0M | $23.9M | — |
| Total current liabilities | $50.4M | $38.0M | $33.0M | — |
| Long-term debt | $42.6M | $41.1M | $42.5M | — |
| Total liabilities | $98.8M | $90.3M | $78.2M | — |
| Retained earnings | -$651.9M | -$520.2M | -$406.4M | — |
| Total equity | $259.7M | $205.4M | -$209.4M | -$117.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | -$81.7M | -$77.6M | -$72.2M | — |
| Depreciation and amortisation | $8.7M | $8.0M | $11.6M | — |
| Stock-based compensation | $33.6M | $24.3M | $1.5M | — |
| Capital expenditure | $34.9M | $22.9M | $12.2M | — |
| Investing cash flow | -$203.3M | -$23.3M | -$12.2M | — |
| Financing cash flow | $147.1M | $330.3M | $77.7M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-303397.
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