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- **Revenue Growth Accelerates**: Q1 2026 revenue up 52% YoY to $19.4M, driven by 51% prescription growth. 
- **Gross Margin Expansion**: 45.7% (vs. 32.9% prior year), on track for 70%+ in a few years. 
- **Clinical Validation**: Late-breaking AHA study to present 25,000-patient data, solidifying compliance and safety leadership. 
- **Market Opportunity**: 6x underserved patients in $1B+ WCD market. 
- **Operational Efficiency**: 80% in-network mix, 47% conversion rate, and $201M cash runway.

**【CEO Summary Section】**
- Q1 2026 revenue reached $19.4 million, up 52% YoY, driven by 51% YoY increase in prescriptions (4,200+ ASSURE system prescriptions). 
- Gross margin expanded to 45.7% (vs. 32.9% prior year), with 7 consecutive quarters of margin improvement. 
- Key growth drivers: 
  1. Sales expansion (80+ territories, targeting high-WCD geographies) 
  2. RCM improvements (in-network mix 80% vs. 70% at IPO) 
  3. Fleet scale (3 patient wears/device/year) 
  4. Clinical evidence (FDA post-approval study enrollment complete)
- WCD market penetration at ~14%, with 6x underserved patients. Late-breaking AHA study will present 25,000-patient data on compliance, safety, and outcomes.

**【CFO Financial Commentary】**
- Q1 GAAP net loss: $25.8M (vs. $20.3M prior year). Adjusted EBITDA loss: $19.4M (vs. $15.7M). 
- FY26 revenue guidance raised to $88M (47% YoY growth). 
- Conversion rate 47% (vs. 40% prior year), driven by: 
  - 20% cost per fit decline 
  - 20% revenue per fit increase 
  - 80% in-network mix (vs. 70% at IPO)
- Cash reserves: $201.2M, with $15M available under term loan. 
- Targeting 70%+ gross margins through scale and volume leverage.

**【Q&A Highlights】**
- **Prescription Growth**: Sequential +300 prescriptions, annualizing to ~14% market share. 
- **In-Network Strategy**: Focused on 3,000+ payers, prioritizing high-WCD geographies. 
- **Compliance**: Median daily wear >23 hours, sustained adherence >90 days. 
- **Competitive Position**: Incumbent competitor's SCD PROTECT study validates WCD need, but Kestra offers superior compliance and outcomes. 
- **OpEx Cadence**: Steady territory expansion with ~50% U.S. coverage, targeting 100% over time.

Kestra Medical Technologies, Ltd. (KMTS) Q1 2026 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

KMTS

KMTS fundamentals

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