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This Day That Year: Vapotherm

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Shares of Vapotherm Inc. (VAPO) are down nearly 61 percent from a high of $24.63 recorded on July 2, 2019, and trade around $9.

It was on this day last year, i.e. November 14, 2018, that Vapotherm went public on the New York Stock Exchange by setting a public offering at $14 per share.

Vapotherm is a global medical technology company developing products based on its proprietary Hi-VNI Technology that are used to treat patients of all ages suffering from respiratory distress.

Respiratory distress is a condition in which patients have severe difficulty breathing and are unable to sustain sufficient oxygen levels or remove retained carbon dioxide in their lungs and airways. Pneumonia, chronic obstructive pulmonary disease (COPD), asthma, and heart failure are some of the causes of respiratory distress. Respiratory support ranging from supplemental oxygen therapy for mild cases to invasive mechanical ventilators for severe cases is the current standard of care for the treatment of respiratory distress in a hospital setting.

Vapotherm's Precision Flow Hi-VNI system which includes capital units and single-use disposables is used to deliver non-invasive ventilation to spontaneously breathing patients using Mask-Free NIV technology. Precision Flow Hi-VNI uses a nasal cannula that delivers warm, humidified gas, and doesn't seal to the face. While being treated, patients can talk, eat, drink, and take medication unlike being restricted when using a breathing mask.

Vapotherm sells its Precision Flow systems to hospitals through a direct sales organization in the United States and through distributors in select countries outside of the United States.

As of September 30, 2019, the Company had a global installed base of over 15,000 capital units.

The Company has grown its revenue over the years as can be seen from the numbers.



Metrics201620172018
Revenue$30.1Mln$35.6Mln$42.4Mln
Net Loss$23Mln$31Mln$42.5Mln

In the nine months ended September 30, 2019, the Company incurred a net loss of $38.6 million or $2.16 per share on revenue of $35 million.

The Company expects revenue to be in the range of $12.0 million to $12.5 million for the fourth quarter of 2019, and revenue to range between $47.1 million and $47.6 million for full-year 2019.

As of September 30, 2019, the Company had cash of $83.5 million, including $48.3 million raised in a public offering in August of this year.

VAPO has traded in a range of $7.60 to $24.63 in the last 1 year. The stock closed Wednesday's trading at $9.55, up 0.74%.

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