VAPOTHERM INC

vapotherm.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2024 10-Q, filed Aug 12, 2024. Its latest SEC filing is a SCHEDULE 13G from Nov 14, 2024.

The sections below describe the company as of the FY2023 annual report.

What Did They Do?

Sells High Velocity Therapy systems, single-use cartridges and oxygen-control modules to hospitals treating patients with respiratory distress.

How Did They Make Money?

Hospitals pay for High Velocity Therapy systems and single-use disposables, which are shipped and billed; the company also earns lease and service revenue.

FY2023 revenue

Who Were Their Customers?

Hospitals buy directly in the United States and select international markets; distributors serve other international markets.

Did Revenues Turn Into Profits?

No. It lost $58.2M in FY2023.

Operating income, FY2023

−57% of revenue

▼ −61% (Loss) vs FY2022 (−$100.4M, −150%)

Net income, FY2023

−85% of revenue

▼ −49% (Loss) vs FY2022 (−$113.3M, −170%)

Free cash flow, FY2023

−40% of revenue

▼ −70% (Loss) vs FY2022 (−$91.8M, −137%)

How Were They Changing?

Since the FY2023 annual report

Latest quarter: Q2 FY2024, the three months to Jun 30, 2024

Revenue: ▲ +5%; vs $16M in Q2 FY2023
Net income: ▼ −3% (Loss); vs −$14.8M in Q2 FY2023

Sep 20, 2024 Parent completed its acquisition of Vapotherm Common shares were converted into a right to receive $2.18 in cash per share.

Grew. Revenue grew 43% in 4 years, from $48.1M in FY2019 to $68.7M in FY2023, about 9% a year.

Monitoring to home device The older report described a COPD remote-monitoring service with payor and provider arrangements. The latest report says Vapotherm exited its Access call-center business and is developing a home device using the underlying technology.

Who Did They Compete With?

Competes with Philips Respironics and Fisher & Paykel Healthcare

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