Vapotherm (VAPO) Reports Prelim. 4Q & FY20 Revenue Results Above Consensus

Vapotherm, Inc. (NYSE: VAPO) today announced certain preliminary unaudited fourth quarter and full year 2020 revenue results.

Preliminary revenue for the fourth quarter of 2020 is expected to be approximately $40.6 million, an increase of approximately 212% when compared with $13.0 million for the fourth quarter of 2019.

Preliminary revenue for the full year 2020 is expected to be approximately $125.4 million, an increase of approximately 161% when compared with $48.1 million for the full year 2019.

“2020 was a transformational year for Vapotherm. Due to COVID-19, we saw customer demand increase significantly in both new and existing accounts, resulting in increased awareness of our high velocity therapy for treating patients with respiratory distress. In response, we successfully expanded our production capabilities, and we continue to treat fulfillment of customer orders as our highest priority. As a result, our worldwide installed base of Precision Flow systems expanded significantly and disposable utilization rates are better than prior years.” said Joe Army, President and CEO of Vapotherm. “As we move into 2021, we expect to continue to add to our portfolio of high clinical value products and expand our body of clinical evidence, with the goal of driving further adoption of our Hi-VNI Technology products.”

The Company plans to release its fourth quarter and full year 2020 financial results in late February 2021. The quarterly and annual revenue estimates for 2020 included in this press release are preliminary. Actual fourth quarter and full year 2020 revenue results are subject to the completion of the Company’s year-end financial closing procedures and review and audit procedures by the Company’s independent registered public accounting firm.

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