Kestra Medical Technologies Reports 115% Revenue Growth to $59.8 Million in Fiscal Year 2025

**Kestra Medical Technologies Reports Significant Revenue Growth in Fiscal Year 2025**

Kestra Medical Technologies, Ltd., a wearable medical device and digital healthcare company, announced its financial results for the fiscal year ended April 30, 2025. The company reported revenue of $59.8 million, a 115% increase compared to the $27.8 million reported for the fiscal year ended April 30, 2024. This growth was primarily driven by an increase in the number of patients using Kestra's ASSURE wearable cardioverter defibrillator (WCD) and an increase in reimbursement realization. Despite the revenue increase, Kestra reported a net loss of $113.8 million for the fiscal year, compared to a net loss of $94.1 million in the previous fiscal year.

The company's cost of revenue increased by 30% to $35.6 million, up from $27.5 million in the prior year, reflecting the higher volume of ASSURE WCD leases. Gross profit improved significantly, reaching $24.2 million compared to $0.4 million in the previous fiscal year, driven by increased revenue and improved cost management. Operating expenses also increased, with selling, general, and administrative expenses rising by 64% to $114.9 million, primarily due to increased personnel costs and professional service fees related to the company's initial public offering (IPO). Research and development expenses remained relatively stable at $15.7 million.

Kestra highlighted several key operational developments in its annual report. The ASSURE WCD has been worn by over 20,000 patients since its full commercial launch. The company has built a commercial sales team of approximately 80 direct sales representatives and over 40 sales and clinical support professionals. Kestra also reported broad payor coverage for the ASSURE WCD, with over 285 million U.S. lives covered via insurance contracts. The company's ongoing patient registry has enrolled over 20,000 patients, further validating the results of its clinical trials.

Looking ahead, Kestra outlined its growth strategies, which include capturing a larger share of the U.S. WCD market, expanding adoption of its Cardiac Recovery System platform, and pursuing expansion in international markets, with an initial focus on Western Europe. The company also plans to continue payor engagement to broaden coverage and increase reimbursement rates. Kestra intends to drive gross profit expansion and operating leverage through improvements in per-patient reimbursement and lower costs per patient. The company's long-term vision includes strategically pursuing adjacent markets with new product offerings and differentiated services, such as the recently launched ASSURE wearable ECG.