K
KESTRA MEDICAL TECHNOLOGIES, LTD.
KMTSCIK 0001877184NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthSurgical & Medical Instruments & ApparatusD0FY ends Apr 30
Period
FY 2025
Revenue
$59.81M
Net Income
$-113.81M
Total Assets
$295.74M
Equity
$205.41M
Shares Out
58.37M
Op. Cash Flow
$-77.61M
Business
KESTRA MEDICAL TECHNOLOGIES, LTD. is a commercial-stage wearable medical device and digital healthcare company that develops and commercializes technologies to monitor and treat patients at elevated risk of sudden cardiac arrest. Its core offering is the Cardiac Recovery System platform, anchored by the ASSURE WCD and complemented by the ASSURE wearable ECG, a patient mobile app, the Kestra CareStation remote data platform, Heart Alert Services and ASSURE Assist. The company operates commercial, clinical evidence, research and development, manufacturing/supply chain and revenue cycle functions. It currently distributes primarily in the U.S. through direct sales to hospitals, clinics and home fittings supported by contracted patient specialists and third-party distribution centers.
Summary from filing dated 2025-07-17
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-04-30 | FY 2024 2024-04-30 |
|---|---|---|---|
| Revenue | 60 | 28 | |
| Costs of revenue | 36 | 27 | |
| Gross profit | 24 | 362,000 | |
| Research and development | 16 | 15 | |
| Selling, general and administrative | 115 | 70 | |
| Total operating expenses | 131 | 85 | |
| Loss from operations | −106 | −85 | |
| Interest expense | 8 | 6 | |
| Interest income | −3 | — | |
| Other expense | 3 | 3 | |
| Net loss before provision for income taxes | −114 | −94 | |
| Provision for income taxes | 135,000 | 24,000 | |
| Net loss and comprehensive loss | −114 | −94 | |
| Less: Undeclared preferred stock dividends | 12 | 7 | |
| Net loss attributable to common shareholders, basic | −126 | −101 | |
| Net loss attributable to common shareholders, diluted | −126 | −101 | |
| Net loss per share attributable to common shareholders, basic | −5.13 | −5.07 | |
| Net loss per share attributable to common shareholders, diluted | −5.13 | −5.07 | |
| Weighted average shares of common shares outstanding, basic | 25 | 20 | |
| Weighted average shares of common shares outstanding, diluted | 25 | 20 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-04-30 | FY 2024 2024-04-30 | FY 2023 2023-04-30 |
|---|---|---|---|---|
| Cash and cash equivalents | 238 | 8 | — | |
| Accounts receivable, net | 8 | 2 | — | |
| Disposable medical equipment supplies | 7 | 3 | — | |
| Prepaid expenses and other current assets | 3 | 1 | — | |
| Total current assets | 255 | 15 | — | |
| Right-of-use assets | 2 | 2 | — | |
| Deposits | 2 | 2 | — | |
| Restricted cash | 334,000 | 334,000 | — | |
| Property and equipment, net | 35 | 26 | — | |
| Other long-term assets | 1 | 607,000 | — | |
| Total assets | 296 | 46 | — | |
| Accounts payable | 24 | 24 | — | |
| Accrued liabilities | 14 | 9 | — | |
| Operating lease liabilities, current portion | 187,000 | — | — | |
| Total current liabilities | 38 | 33 | — | |
| Operating lease liabilities, net of current portion | 3 | 3 | — | |
| Warrant liabilities | 8 | — | — | |
| Other long-term liabilities | 140,000 | 76,000 | — | |
| Long-term debt, net | 41 | 43 | — | |
| Total liabilities | 90 | 78 | — | |
| Commitments and contingencies (Note 14) | — | — | — | |
| Redeemable preferred stock, $0.01 par value; 0 and 5,000,000 shares authorized as of April 30, 2025 and April 30, 2024, respectively; 0 and 177,110 shares issued and outstanding as of April 30, 2025 and April 30, 2024, respectively | — | 177 | — | |
| Common stock, $0.01 par value; 5,000,000 shares authorized as of April 30, 2024; 105,808 shares issued and outstanding as of April 30, 2024. Common shares, $1.00 par value; 100,000,000 shares authorized as of April 30, 2025; 51,348,656 shares issued and outstanding as of April 30, 2025 | 51 | 20 | — | |
| Additional paid-in capital | 674 | 177 | — | |
| Accumulated deficit | −520 | −406 | — | |
| Total shareholders' equity (deficit) | 205 | −209 | −118 | |
| Total liabilities and shareholders' equity (deficit) | 296 | 46 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-04-30 | FY 2024 2024-04-30 |
|---|---|---|---|
| Depreciation and amortization | 8 | 12 | |
| Loss on disposal of property and equipment | 2 | 1 | |
| Provision for uncollectible accounts receivable | 3 | 500,000 | |
| Interest paid-in-kind | 855,000 | 1 | |
| Amortization of debt discounts and issuance costs | 1 | 610,000 | |
| Share-based compensation expense | 24 | 1 | |
| Non-cash lease expense | 416,000 | 729,000 | |
| Deferred income tax expense | 64,000 | 12,000 | |
| Non-cash loss on debt extinguishment | — | 930,000 | |
| Change in fair value of warrant liability | 3 | — | |
| Disposable medical equipment supplies | −3 | −1 | |
| Prepaid expenses and other current assets | −2 | 331,000 | |
| Accounts receivable | −9 | −2 | |
| Accounts payable | 3 | 7 | |
| Accrued liabilities | 5 | 371,000 | |
| Operating lease liabilities | 370,000 | −469,000 | |
| Other long-term assets | 40,000 | −10,000 | |
| Net cash used in operating activities | −78 | −72 | |
| Purchases of property and equipment | −23 | −12 | |
| Deposits for medical rental equipment | −655,000 | −288,000 | |
| Refund of deposits for medical rental equipment | 283,000 | 285,000 | |
| Net cash used in investing activities | −23 | −12 | |
| Proceeds from issuance of redeemable preferred stock | 103 | 75 | |
| Deemed dividend for payments to third party on behalf of shareholder | −2 | −799,000 | |
| Proceeds from issuance of stock to non-controlling interest | 17 | — | |
| Proceeds from issuance of long-term debt | — | 45 | |
| Proceeds from issuance of Common Shares | 216 | — | |
| Proceeds from capital contributions | 2 | — | |
| Payment of debt issuance costs | — | −2 | |
| Payment of equity issuance costs | −3 | — | |
| Repayment of long-term debt | — | −39 | |
| Payments of IPO offering costs | −4 | — | |
| Net cash provided by financing activities | 330 | 78 | |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 229 | −7 | |
| Purchases of property and equipment in accrued liabilities and accounts payable | 7 | 11 | |
| Capital contribution from West Affum LP to settle warrant obligation | — | 2 | |
| IPO offering costs incurred but not yet paid | 2 | — | |
| Issuance of warrants related to long term debt | 5 | — | |
| Conversion of redeemable preferred stock into Common Shares on completion of IPO | 281 | — | |
| Income taxes paid | 83,000 | −30,000 | |
| Interest paid | 5 | 4 |
Filings
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