Vapotherm Raises Annual Sales Outlook Amid Surge In COVID-19 Cases - Vapotherm (OTC:VAPO)

Vapotherm Inc VAPO expects FY21 revenue of at least $102 million, an increase of $17 million over the low end of previous guidance of $85 million - $91 million.
Related Content: FDA Gives 510(K) Nod To Vapotherm's Next-Gen High-Velocity Therapy.
For FY2021, the Company expects gross margins of 46%-48% and operating expenses to be at least $102 million.
"COVID-19 has accelerated the adoption of our technology. The impact of the Delta variant on U.S. hospitalization rates has materially accelerated. We expect this U.S. demand to continue through the third quarter," commented Joe Army, CEO.
Vapotherm will expand its disposables production capacity with additional assembly lines in Mexico, increasing capacity by 75% without adding material fixed costs.
Price Action: VAPO shares are trading higher by 4.66% at $29.62 on the last check Wednesday.