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Vapotherm (NYSE: VAPO), a medical technology leader in high velocity therapy, will present at the 23rd Annual ICR/Westwicke Conference on January 14, 2021, at 9:15 AM Eastern Time. The presentation will be available via live webcast accessible at this link. Vapotherm's advanced technology supports patients with respiratory distress, with over 2.5 million treated globally. A replay of the presentation will be available for 90 days on the company's Investor Relations website.
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Vapotherm, Inc. (NYSE: VAPO) updated its revenue guidance for Q4 and fiscal year 2020, anticipating revenue between $30.0 million and $33.0 million for Q4, a significant increase of $12.0 million to $13.0 million from earlier forecasts. This adjustment leads to a projected fiscal year revenue range of $114.8 million to $117.8 million, up from $102.8 million to $104.8 million. The increase is attributed to heightened demand due to COVID-19 and rising hospitalization rates.
Vapotherm (NYSE: VAPO) reported a strong third quarter 2020 with revenues of $30.6 million, a 182.7% increase from the prior year. The installed base of Precision Flow systems grew 56.8% year-over-year, contributing to a gross margin rise to 50.8%. Despite the operational growth, the net loss decreased slightly to $12.4 million or $0.49 per share. The company anticipates fiscal year 2020 revenue between $102.8 million and $104.8 million, reflecting an increase of 114%-118% compared to 2019. Management aims to expand its global installed base and educate customers on High Velocity Therapy.
Vapotherm, Inc. (NYSE: VAPO) appointed Donald Spence to its Board of Directors, effective October 21, 2020. Spence, with extensive healthcare leadership experience, will chair the Compensation Committee and serve on the Audit Committee. He previously led Philips Respironics and Ebb Therapeutics. This appointment follows the resignation of Craig Reynolds and Geoff Pardo from Vapotherm’s Board, both of whom contributed significantly to the company's growth. Vapotherm continues to advance its non-invasive high velocity therapy, which has treated over 2.3 million patients.
Vapotherm, Inc. (NYSE: VAPO) has secured up to $52 million in debt financing from CIBC Innovation Banking, structured through a $40 million term loan and a $12 million revolving credit facility. The financing aims to refinance existing debts, providing the Company with increased flexibility and a reduced cost of capital. The term loan matures in five years and features interest-only payments for the first three years. Approximately $44.9 million of the new facilities were utilized to settle prior obligations as of October 21, 2020.
Vapotherm (NYSE: VAPO), a medical technology firm specializing in high velocity therapy for respiratory distress, will announce its Q3 2020 financial results after market close on November 4, 2020. A conference call is scheduled for 4:30 p.m. ET to discuss these results and business developments. Over 2.3 million patients have benefited from Vapotherm's therapy, which offers a mask-free approach to ventilatory support, enhancing patient comfort and reducing treatment complexities.