Vapotherm Reports Preliminary Fourth Quarter and Fiscal Year 2019 Financial Results
January 10 2020 - 06:00AM
Business Wire
Vapotherm, Inc. (NYSE: VAPO) (“Vapotherm” or the “Company”), a
global medical technology company focused on the development and
commercialization of its proprietary Hi-VNI® Technology products
that are used to treat patients of all ages suffering from
respiratory distress, today announced certain preliminary unaudited
fourth quarter and full year 2019 revenue results.
Preliminary revenue for the fourth quarter of 2019 is expected
to be approximately $12.9 million, an increase of approximately 10%
when compared with $11.7 million for the fourth quarter of
2018.
Preliminary revenue for the full year 2019 is expected to be
approximately $48.0 million, an increase of approximately 13% when
compared with $42.4 million for the full year 2018.
“We are pleased with our solid finish to 2019, as our worldwide
installed base of Precision Flow systems continues to grow in-line
with our expectations, U.S. disposable utilization rates are
consistent with or better than prior years, and our gross margin
improvement plan is right on track.” said Joe Army, President and
CEO of Vapotherm. “As we move into 2020, 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
2019 financial results in early March 2020. The quarterly and
annual revenue estimates for 2019 included in this press release
are preliminary. Actual fourth quarter and full year 2019 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.
Website Information
Vapotherm routinely posts important information for investors on
the Investor Relations section of its website,
http://investors.vapotherm.com/. Vapotherm intends to use this
website as a means of disclosing material, non-public information
and for complying with Vapotherm’s disclosure obligations under
Regulation FD. Accordingly, investors should monitor the Investor
Relations section of Vapotherm’s website, in addition to following
Vapotherm’s press releases, Securities and Exchange Commission
filings, public conference calls, presentations and webcasts. The
information contained on, or that may be accessed through,
Vapotherm’s website is not incorporated by reference into, and is
not a part of, this document.
About Vapotherm
Vapotherm, Inc. is a publicly traded developer and manufacturer
of advanced respiratory technology based in Exeter, New Hampshire,
USA. The Company develops innovative, comfortable, non-invasive
technologies for respiratory support of patients with chronic or
acute breathing disorders. Over 2.0 million patients have been
treated with Vapotherm Hi-VNI Technology. Hi-VNI Technology is
mask-free noninvasive ventilatory support for spontaneously
breathing patients and is a front-line tool for relieving
respiratory distress—including hypercapnia, hypoxemia, and dyspnea.
It allows for the fast, safe treatment of undifferentiated
respiratory distress with one tool. Hi-VNI Technology’s mask-free
interface delivers optimally conditioned breathing gases, making it
comfortable for patients and reducing the risks associated with
mask therapies. While being treated, patients can talk, eat, drink,
and take oral medication. For more information, visit
www.vapotherm.com.
Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements,
including statements about full year and quarterly revenue and
gross margin results. In some cases, you can identify
forward-looking statements by terms such as ‘‘expect,’’ “plan” or
“goal” or the negative of these terms or other similar expressions,
although not all forward-looking statements contain these words.
Each forward-looking statement is subject to risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied in such statement. Applicable risks
and uncertainties include, but are not limited to the following:
Vapotherm has incurred losses in the past and may be unable to
achieve or sustain profitability in the future, Vapotherm may need
to raise additional capital to fund its existing commercial
operations, develop and commercialize new products, and expand its
operations, Vapotherm’s dependence on sales generated from its
Precision Flow systems, competition from multi-national
corporations who have significantly greater resources than
Vapotherm and are more established in the respiratory market, the
ability for Precision Flow systems to gain increased market
acceptance, its inexperience directly marketing and selling its
products, the potential loss of one or more suppliers, Vapotherm’s
susceptibility to seasonal fluctuations, Vapotherm’s failure to
comply with applicable United States and foreign regulatory
requirements, the failure to obtain U.S. Food and Drug
Administration or other regulatory authorization to market and sell
future products or its inability to secure and maintain patent or
other intellectual property protection for its products and the
other risks and uncertainties included under the heading “Risk
Factors” in Vapotherm’s Annual Report on Form 10-K for the fiscal
year ended December, 31, 2018, as filed with the Securities and
Exchange Commission on March 22, 2019, and in any subsequent
filings with the Securities and Exchange Commission. The
forward-looking statements contained in this press release reflect
Vapotherm’s views as of the date hereof, and Vapotherm does not
assume and specifically disclaims any obligation to update any
forward-looking statements whether as a result of new information,
future events or otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20200110005046/en/
Mark Klausner or Mike Vallie, Westwicke, an ICR Company,
ir@vtherm.com, +1 (603) 658-0011
Vapotherm (NYSE:VAPO)
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