Vapotherm Says It Is Compliant To NYSE Listing, Prices $23M Private Placement

Loading...
Loading...
  • Vapotherm Inc VAPO expects Q4 FY22 sales of $18.4 million to $18.7 million, versus the consensus of $16.32 million, with FY22 sales expectation of $66-$67 million compared to the consensus Of $64.47 million.
  • For Q4, the company expects a gross margin of 27%-28% and 25%-26% for FY22.
  • For the fourth quarter of 2022, the company expects non-GAAP operating expenses excluding impairment of long-lived assets and loss on disposal of property and equipment, of $20.9 million to $21.1 million.
  • Cash and cash equivalents were approximately $15.7 million as of December 31, 2022.
  • "Growth was driven primarily by consistent quarterly improvement in U.S. disposables turn rates, reaching 70% of the three-year pre-COVID historical average in the fourth quarter, up from 60% in the third quarter," said Joseph Army, President & CEO.
  • The company looks to decrease annual cash operating expenses from $100 million in 2021 to $60 million to $62 million in 2023 while still making significant investments in future growth drivers. 
  • For FY23, Vapotherm expects revenue of $77 million to $79 million, compared to the consensus of $76.44 million, with a gross margin of 48%-50%.
  • Concerning the previously reported two delisting notices from the NYSE in 2022, the company received a price cure notification letter from the NYSE indicating the company's stock price was above the NYSE's minimum requirement.
  • Vapotherm announced a securities purchase agreement for private placement financing for gross proceeds of approximately $23.0 million.
  • The company will issue 17.5 million shares and pre-funded warrants, purchasing up to 4.4 million shares. The warrants will be exercisable at $1.17 per share.
  • Price Action: VAPO shares are up 8.94% at $1.07 on the last check Wednesday.
Loading...
Loading...
Market News and Data brought to you by Benzinga APIs
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksGuidanceHealth CareMoversGeneralBriefswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...