Vapotherm Inc (VAPO) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

 

Vapotherm Reports Fourth Quarter and Fiscal Year 2018 Financial Results

2018 Revenue of $42.4 Million Reflects 19.0% Increase Over Prior Year

EXETER, New Hampshire, March 12, 2019 /

Business Wire / -- Vapotherm, Inc. (NYSE: VAPO), 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, announced today fourth quarter and fiscal year 2018 financial results.

 

Fourth Quarter 2018 Summary

 

Fiscal Year 2018 Summary

 

Fiscal 2019 Revenue Outlook

 

“We are pleased with our progress during 2018, which included a 19.0% revenue increase over the prior year” said Joe Army, President and CEO of Vapotherm. “The work we completed in 2018 set the foundation to further promote adoption of Hi-VNI Technology in 2019, including the publication of clinical trial results from participating emergency departments demonstrating Hi-VNI as non-inferior to NIPPV for undifferentiated respiratory distress patients, receipt of a de novo grant from the FDA which created a new category under which our Precision Flow Hi-VNI™ system is currently the only product listed, and the recently published IntellO₂™ study which demonstrated that IntellO₂ helps clinicians maintain premature neonates in the target oxygenation range significantly better than manual control alone, the current standard of care.”  

 

Results for the Three Months Ended December 31, 2018

The following table reflects the Company’s net revenue for the three months ended December 31, 2018 and 2017:

 

 

Revenue for the fourth quarter of 2018 was $11.7 million, representing a 12.3% increase over the fourth quarter of 2017.  Total capital revenue, including both product sales and lease revenue, increased 6.5% year over year as a result of product mix, partially offset by lower fourth quarter 2018 capital sales and lease volumes when compared to the fourth quarter of 2017. Disposable revenue as a percentage of total revenue for the fourth quarter of 2018 and 2017 was 68.2% and 65.5%, respectively.  The increase in disposable revenue was primarily driven by an increase in the installed base of Precision Flow capital units.  

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The following information was filed by Vapotherm Inc (VAPO) on Tuesday, March 12, 2019 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.