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Vapotherm Inc (VAPO) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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VAPO Annual Reports

  • 10-K Annual Report February 2022
  • 10-K Annual Report February 2021
    10-K Annual Report March 2020
    10-K Annual Report March 2019

Vapotherm Inc

CIK: 1253176 Ticker: VAPO

 

Exhibit 99.1

 

 


Vapotherm Reports Fourth Quarter and Fiscal Year 2021 Financial Results

2021 Revenue of $113.3 Million Reflects Two-Year Compounded Annual Growth Rate of 53%

 

Results in Line with Preliminary Revenue of $112.8 Million

 

Worldwide Installed Base of Precision Flow Hi-VNI® Systems Now 35,200

 

New Debt Facility Provides Up To $75 Million of Incremental Cash

 

EXETER, New Hampshire, February 24, 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 fourth quarter and fiscal year 2021 financial results.

 

Fourth Quarter 2021 Summary

 

Net revenue for fourth quarter 2021 was $22.2 million, a two-year compounded annual growth rate of 31%

 

Disposables revenue for fourth quarter 2021 was $15.0 million, a two-year compounded annual growth rate of 25%

 

Fiscal Year 2021 Summary

 

Net revenue for 2021 was $113.3 million, a two-year compounded annual growth rate of 53%

 

Disposables revenue in 2021 was $66.6 million, 18% growth over 2020 and a two-year compounded annual growth rate of 38%

 

Worldwide installed base of Precision Flow Hi-VNI systems grew by approximately 6,600 units in 2021, now at approximately 35,200

 

“I am proud of what our Team accomplished in 2021 despite the continued disruption of COVID-19 on the global supply chain and U.S. labor markets. We were able to meet all Customer needs throughout multiple COVID-19 surges and, as a result, treated over 650,000 patients, expanded our Installed Base of Precision Flow systems and now have over a quarter of the 2,000 largest U.S. hospitals using our High Velocity Therapy as a front-line therapy for the respiratory distress resulting from COPD, CHF and other diseases. We also laid the groundwork to launch our next generation HVT 2.0 platform system and our Vapotherm Access digital platform,” said Joe Army, President and CEO of Vapotherm. “In 2022, we will focus on ensuring our significantly expanded worldwide installed base is productive through clinician education focused on hypercapnic patients, launching our new HVT 2.0 which will allow us to access areas of the hospital without piped-in air and expanding Vapotherm Access.”  

 

Results for the Three Months Ended December 31, 2021

The following table reflects the Company’s net revenue for the three months ended December 31, 2021 and 2020:

 

 

 

Three Months Ended December 31,

 

 

 

 

 

 

 

 

 

 

 

2021

 

 

2020

 

 

Change

 

 

 

(in thousands, except percentages)

 

 

 

Amount

 

 

% of Revenue

 

 

Amount

 

 

% of Revenue

 

 

$

 

 

%

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital (product & lease revenue)

 

$

5,357

 

 

 

24.1

%

 

$

21,582

 

 

 

52.8

%

 

$

(16,225

)

 

 

(75.2

%)

Disposables

 

 

15,007

 

 

 

67.5

%

 

 

18,074

 

 

 

44.2

%

 

 

(3,067

)

 

 

(17.0

%)

Service and other

 

 

1,880

 

 

 

8.4

%

 

 

1,251

 

 

 

3.0

%

 

 

629

 

 

 

50.3

%

Total net revenue

 

$

22,244

 

 

 

100.0

%

 

$

40,907

 

 

 

100.0

%

 

$

(18,663

)

 

 

(45.6

%)

 


The following information was filed by Vapotherm Inc (VAPO) on Thursday, February 24, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Vapotherm Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Stockholders' Equity
Accounts Receivable
Accounts Receivable (Tables)
Accounts Receivable - Additional Information (Details)
Accounts Receivable - Summary Of Accounts Receivable (Details)
Accrued Expenses And Other Current Liabilities And Other Long-Term Liabilities
Accrued Expenses And Other Current Liabilities And Other Long-Term Liabilities (Tables)
Accrued Expenses And Other Current Liabilities And Other Long-Term Liabilities - Schedule Of Accrued Expenses And Other Liabilities (Details)
Accrued Expenses And Other Current Liabilities And Other Long-Term Liabilities - Schedule Of Other Long-Term Liabilities (Details)
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Business Combinations (Tables)
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Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Additional Information (Details)
Commitments And Contingencies - Summary Of Future Maturities Of Lease Liabilities Under Noncancelable Operating Leases (Details)
Commitments And Contingencies - Summary Of Operating Lease Cost And Information Related To Operating Right-Of-Use Assets And Operating Lease Liabilities (Details)
Debt
Debt (Tables)
Debt - Additional Information (Details)
Debt - Schedule Of Annual Principal Maturities Of Term Facility (Details)
Description Of Business
Description Of Business - Additional Information (Details)
Disaggregated Revenue
Disaggregated Revenue (Tables)
Disaggregated Revenue - Net Revenue Disaggregated Into Categories (Details)
Disaggregated Revenue - Schedule Of Changes In Contract Liabilities (Details)
Employee Benefit Plan
Employee Benefit Plan - Additional Information (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Details)
Fair Value Measurements - Schedule Of Assumptions Used In Black-Scholes Options Pricing Model At The Date Of Grant (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Additional Information (Details)
Goodwill And Intangible Assets - Schedule Of Changes In Carrying Amount Of Goodwill And Intangible Assets (Details)
Goodwill And Intangible Assets - Schedule Of Estimated Amortization Expense For Intangible Assets (Details)
Goodwill And Intangible Assets - Summary Of Acquired Intangible Assets (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Schedule Of Net Loss Before Income Taxes (Details)
Income Taxes - Schedule Of Reconciliation Of Income Tax Expense (Details)
Income Taxes - Significant Components Of Net Deferred Tax Assets (Details)
Inventories
Inventories (Tables)
Inventories - Schedule Of Inventories (Details)
Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Schedule Of Computation Of Diluted Net Loss Per Share (Details)
Property And Equipment
Property And Equipment (Tables)
Property And Equipment - Additional Information (Details)
Property And Equipment - Summary Of Components Of Property And Equipment (Details)
Related Party Transactions
Related Party Transactions - Additional Information (Details)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Additional Information (Details)
Significant Accounting Policies - Components Of Cash, Cash Equivalents And Restricted Cash (Details)
Significant Accounting Policies - Lives Used In Computing Straight-Line Depreciation (Details)
Significant Accounting Policies - Summary Of Roll-Forward Warranty Liability (Details)
Stock Plans And Stock-Based Compensation
Stock Plans And Stock-Based Compensation (Tables)
Stock Plans And Stock-Based Compensation - Additional Information (Details)
Stock Plans And Stock-Based Compensation - Schedule Of Fair Value Of Espp Used In Black-Scholes Options Pricing Model (Details)
Stock Plans And Stock-Based Compensation - Schedule Of Weighted Average Assumptions Used In Black-Scholes Options Pricing Model (Details)
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Stockholders' Equity - Additional Information (Details)
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Ticker: VAPO
CIK: 1253176
Form Type: 10-K Annual Report
Accession Number: 0001564590-22-006714
Submitted to the SEC: Thu Feb 24 2022 4:16:57 PM EST
Accepted by the SEC: Thu Feb 24 2022
Period: Friday, December 31, 2021
Industry: Surgical And Medical Instruments And Apparatus

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