Kestra Medical Technologies (KMTS) Registration Filing summary

Company overview and business model

• Commercial-stage wearable medical device and digital healthcare company focused on cardiovascular disease, offering the Cardiac Recovery System platform integrating monitoring, therapy, digital health, and patient support services.

• Core product is the ASSURE WCD, a next-generation wearable cardioverter defibrillator for patients at elevated risk of sudden cardiac arrest, with over 28,000 patients having used it since launch.

• Business model is based on leasing devices, with a scalable supply chain and reprocessing for multiple patient uses per device annually.

• Integrated digital solutions include patient and provider apps, remote data platforms, and alert services to enhance compliance and outcomes.

Financial performance and metrics

• Revenue for the three months ended July 31, 2025 was $19.4 million, up 52% from $12.8 million in the prior year period.

• Fiscal year ended April 30, 2025 revenue was $59.8 million, a 115% increase from $27.8 million in the prior year.

• Net loss for the fiscal year ended April 30, 2025 was $113.8 million, compared to $94.1 million in the prior year.

• Gross profit for the year ended April 30, 2025 was $24.2 million, up from $0.4 million in the prior year.

• As of October 31, 2025, cash and cash equivalents were approximately $175 million.

Use of proceeds and capital allocation

• Estimated net proceeds of $138.8 million (or $159.7 million if underwriters' option is exercised) based on a $26.98 per share offering price.

• Proceeds will be used to scale the commercial organization, invest in device fleet, supply chain, and revenue cycle management, and fund R&D and clinical trials.

• Remaining funds allocated to working capital and general corporate purposes.