VAPO - Vapotherm GAAP EPS of -$0.78 in-line revenue of $18.7M beats by $0.84M

• Vapotherm press release ( NYSE: VAPO ): Q4 GAAP EPS of -$0.78 in-line.
• Revenue of $18.7M (-15.8% Y/Y) beats by $0.84M .

• Fiscal Year 2022 Summary

• Total revenue for 2022 was $66.8 million

• Adjusted EBITDA was negative $12.0 million for the fourth quarter of 2022 as compared to negative $14.9 million for the fourth quarter of 2021.

• Cash and cash equivalents were $15.7 million as of December 31, 2022 compared to $57.1 million as of December 31, 2021.

• For fiscal 2023, the Company expects net revenue to be in the range of $77 million to $79 million.

• The Company anticipates that 75% of revenue will come from U.S. revenue and 25% from International revenue. The Company anticipates that 75% of the revenue will come from disposables revenue and that the remainder will come from capital equipment and service.

• For fiscal 2023, gross margin is expected to be in the range of 48% and 50%.

• For fiscal 2023, operating expenses are expected to be in the range of $76 million to $78 million.

• For fiscal 2023, non-GAAP cash operating expenses excluding additional items as detailed below are expected to be in the range of $60 million to $62 million.

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