Kestra Medical slides on planned share sale

Shares of medical device maker Kestra Medical Technologies KMTS.O slide ~10.6% to $24.12

KMTS announces public offering of 5.5 million shares

BofA Securities, Piper Sandler, J.P. Morgan, Goldman Sachs and Wells Fargo Securities are acting as bookrunners for offering

Capital raise comes just months after KMTS went public in New York following an upsized $202 million IPO

Meanwhile, KMTS expects Q2 2026 revenue between $22.2 million and $22.6 million, compared with $14.7 million a year earlier

Loss from operations expected between $31.6 million and $32 million, compared with $19.1 million a year earlier

KMTS had ~51.3 million outstanding shares as of July 31, per offering prospectus

As of last close, KMTS stock up 58.7% since debut in March