Vapotherm reports preliminary fourth quarter and full year 2021 revenue results

EXETER, New Hampshire, January 12, 2022 / Business Wire / -- Vapotherm, Inc. (NYSE: VAPO), (“Vapotherm” or the “Company”), a global medical technology company focused on the development and commercialization of its innovative, comfortable, non-invasive technologies for respiratory support of patients with chronic or acute breathing disorders today announced preliminary unaudited fourth quarter and full year 2021 net revenue results.

Preliminary net revenue for the fourth quarter of 2021 is expected to be approximately $21.8 million, a two-year compounded annual growth rate of approximately 29%.

Preliminary net revenue for the full year 2021 is expected to be approximately $112.8 million, a two-year compounded annual growth rate of approximately 53%.

“I am proud of our Team’s ability to meet our Customers’ needs during 2021 despite multiple COVID-19 surges, global supply chain disruptions and challenging labor markets, said Joe Army, President and CEO of Vapotherm.  “We significantly expanded our worldwide Installed Base and the number of Gold and Silver emergency department accounts in the U.S. We believe this expanded footprint, along with the recently released HVT 2.0 and investments we made in digital healthcare via Vapotherm Access, will pay dividends for years to come as we pursue our goal of becoming THE complex lung disease patient management company.”  

The Company plans to release its fourth quarter and full year 2021 financial results in late February 2022. These preliminary net revenue results are based on current expectations. Actual results are subject to completion of the Company’s year-end financial closing procedures and review and audit procedures by the Company’s independent registered public accounting firm.

Preliminary 2022 Revenue Outlook

The Company believes COVID-19 and its mutations have become a chronic, recurring problem resulting in a significant number of COVID-19 related hospitalizations each year, which is likely to significantly expand the Company’s total addressable market. For 2022, the Company expects net revenue of between $104 million and $108 million based on its expectation that some level of COVID-19 related hospitalizations will continue worldwide. The Company’s estimate for 2022 net revenue assumes one additional COVID-19 related surge in the U.S. beyond the current surge we are experiencing with expected surge related demand to be approximately 50% of what the Company experienced during the two U.S. COVID-19 related surges in 2021.    

The impact of COVID-19 on hospitalizations worldwide continues to be very dynamic. Should the Company’s expectations regarding COVID-19 hospitalizations not materialize as planned, the Company’s future financial results could be materially different than expected.