Outset Medical makes the Tablo Hemodialysis System, a dialysis machine that works across hospital, post-acute, and home settings on a single platform. Traditional dialysis machines are purpose-built for specific care settings and require industrial water treatment infrastructure and specialist technicians. Tablo requires only a standard electrical outlet and tap water — it has integrated water purification and produces dialysate on demand — and can be operated by a nurse or a patient at home. Outset's primary commercial focus is acute care, where it sells to hospitals and health systems with a pitch centered on "insourcing": Outset helps hospitals replace outsourced dialysis providers like Fresenius or DaVita with Tablo, claiming material cost savings, lower infection rates, and shorter ICU stays. Outset also sells into the home dialysis market through dialysis organizations, which place Tablo in patients' homes. Tablo has been deployed at roughly 1,000 acute care sites and has performed over 3 million cumulative treatments. Outset's business model combines upfront console (hardware) sales with a large and growing recurring revenue stream from consumables (one disposable cartridge is required per treatment) and service contracts. Recurring revenue was roughly 74% of FY25 revenue, growing 6% YoY, and each acute-deployed console generates an estimated ~$20K/year in recurring revenue. Console sales carry longer sales cycles of 9–18+ months for large enterprise deals. Outset supports customers with implementation expertise, training, data analytics, and ongoing service — positioning itself as a full solution rather than a product vendor.