Vapotherm (VAPO) Tops Q3 EPS by 7c, Revenues Beat

Vapotherm (NYSE: VAPO) reported Q3 EPS of ($0.49), $0.07 better than the analyst estimate of ($0.56). Revenue for the quarter came in at $30.6 million versus the consensus estimate of $24.13 million.

Third Quarter 2020 Summary

• Revenue for the third quarter of 2020 was $30.6 million as compared to $10.8 million for the third quarter of 2019, representing a 182.7% increase over the prior year period
• Worldwide installed base of Precision Flow systems grew by 8,989 systems, an increase of 56.8% over the last twelve months
• Gross margin was 50.8% or 630 basis points higher than gross margin of 44.5% in the third quarter of 2019

“The third quarter of 2020 was strong due to the continued hospitalization and treatment of Patients impacted by the COVID-19 pandemic and increased awareness of our High Velocity Therapy. We tripled our revenue, continued the rapid expansion of our worldwide installed base, and improved our gross margin by 630 basis points despite strong headwinds,” said Joe Army, President and CEO of Vapotherm. “Our focus in the fourth quarter will be expanding our worldwide installed base, educating new Customers on the use of High Velocity Therapy, especially on hypercapnic Patients, expanding the limited release of the Oxygen Assist Module in select European and Middle Eastern markets and driving continued gross margin improvement.”

For earnings history and earnings-related data on Vapotherm (VAPO) click here.

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