Vapotherm, Inc.

VAPO

VAPOVapotherm, Inc. US flag

New York Stock Exchange

2.17

USD

-0.01

- -

13.55MMarket Cap

Income Statement (USD)

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	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Sales/Revenue/Turnover	30	36	42	48	126	113	67	69
+ Sales & Services Revenue	30	36	42	48	126	113	67	69
- Cost of Revenue	20	22	26	27	63	60	50	40
+ Cost of Goods & Services	20	22	26	27	63	60	50	40
Gross Profit	10	13	17	21	63	53	17	28
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	32	42	54	69	106	110	95	66
+ Selling, General & Admin	26	34	45	56	89	92	74	52
+ Research & Development	6	8	9	13	17	18	21	14
+ Other Operating Expense	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	-22	-29	-37	-48	-43	-57	-77	-38
- Non-Operating (Income) Loss	1	2	5	3	8	3	36	20
+ Interest Expense, Net	1	2	3	4	4	3	12	19
+ Interest Expense	1	2	3	5	5	3	12	19
- Interest Income	- -	- -	- -	1	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	- -	- -	2	-1	4	1	24	2
Pretax Income	-23	-31	-42	-51	-52	-60	-113	-58
- Income Tax Expense (Benefit)	- -	- -	- -	- -	- -	- -	- -	- -
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	-23	-31	-42	-51	-52	-60	-113	-58
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	-23	-31	-42	-51	-52	-60	-113	-58
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	-23	-31	-42	-51	-52	-60	-113	-58
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	-23	-31	-43	-51	-52	-60	-113	-58
EBIT	-22	-29	-37	-48	-43	-57	-77	-38
EBITDA	-21	-27	-35	-45	-38	-51	-72	-33
EBITDA Margin (%)	-69.39	-75.95	-82.46	-93.73	-30.42	-45.09	-108.18	-47.71
EBITA	-22	-29	-37	-48	-43	-57	-77	-38
Gross Margin (%)	33	37.19	39.58	44.3	50.14	46.95	25.81	41.19
Operating Margin (%)	-73.82	-80.26	-87.58	-100.12	-34.21	-50.08	-115.94	-54.96
Profit Margin (%)	-76.6	-87.1	-100.21	-106.14	-40.96	-52.78	-169.55	-84.74
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -
Depreciation Expense	1	2	2	3	5	6	5	5
Basic Weighted Avg Shares	1	1	- -	2	3	3	3	6
Basic EPS, GAAP	-24.68	-21.93	-117.17	-21.96	-17.3	-18.44	-33.89	-9.64
Basic EPS from Cont Ops	-24.68	-21.84	-116.95	-21.96	-17.3	-18.44	-33.89	-9.64
Diluted Weighted Avg Shares	1	1	- -	2	3	3	3	6
Diluted EPS, GAAP	-24.68	-21.93	-117.17	-21.96	-17.3	-18.44	-33.89	-9.64
Diluted EPS from Cont Ops	-24.68	-21.84	-116.95	-21.96	-17.3	-18.44	-33.89	-9.64

Balance Sheet (USD)

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	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Current Assets	22	47	82	93	162	110	60	46
+ Cash, Cash Equivalents & STI	6	27	58	72	114	57	16	10
+ Cash & Cash Equivalents	6	27	58	72	114	57	16	10
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	6	7	7	8	23	11	9	11
+ Accounts Receivable, Net	6	7	7	8	23	11	9	11
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	8	11	14	9	20	37	33	23
+ Raw Materials	5	8	6	5	10	20	17	13
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	3	4	8	4	10	17	16	10
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	2	2	3	4	5	5	2	3
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	9	13	16	19	54	50	36	31
+ Property, Plant & Equip, Net	7	11	13	15	29	29	32	27
+ Property, Plant & Equip	11	16	21	25	43	49	52	50
- Accumulated Depreciation	4	5	7	10	14	20	19	23
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	2	2	2	4	25	21	4	4
+ Total Intangible Assets	- -	- -	- -	1	22	20	1	1
+ Goodwill	- -	- -	- -	1	16	15	1	1
+ Other Intangible Assets	- -	- -	- -	- -	6	4	- -	- -
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	2	2	2	3	3	1	3	4
Total Assets	31	60	97	112	216	160	96	78
+ Payables & Accruals	5	9	9	11	30	26	11	13
+ Accounts Payable	2	2	3	3	5	6	3	5
+ Accrued Taxes	- -	- -	- -	1	2	1	1	1
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	3	6	5	7	23	19	7	7
+ ST Debt	2	3	3	3	2	8	2	2
+ ST Borrowings	2	3	3	3	- -	7	- -	- -
+ ST Finance Leases	- -	- -	- -	- -	2	2	2	2
+ Other ST Liabilities	2	3	2	2	10	9	6	4
+ Deferred Revenue	- -	- -	- -	- -	3	2	1	1
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	2	3	2	1	8	7	5	2
Total Current Liabilities	9	15	14	16	42	43	20	19
+ LT Debt	9	19	31	42	51	45	103	110
+ LT Borrowings	9	19	31	42	45	40	97	107
+ LT Finance Leases	- -	- -	- -	- -	7	5	6	3
+ Other LT Liabilities	108	154	- -	- -	8	5	2	4
+ Accrued Liabilities	- -	- -	- -	- -	1	- -	- -	- -
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	108	154	- -	- -	8	5	2	4
Total Noncurrent Liabilities	118	172	32	42	60	50	105	114
Total Liabilities	127	187	46	58	102	93	124	133
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	45	45	266	319	431	443	462	493
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	- -
+ Additional Paid in Capital	45	45	266	319	431	443	462	493
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	-141	-172	-214	-265	-317	-377	-490	-548
+ Other Equity	- -	- -	- -	- -	- -	- -	- -	- -
Equity Before Minority Interest	-96	-127	52	54	114	67	-28	-55
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	-96	-127	52	54	114	67	-28	-55
Total Liabilities & Equity	31	60	97	112	216	160	96	78
Shares Outstanding	2	2	2	3	3	3	4	6
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	8	7	8	5
Net Debt	6	-5	-24	-26	-69	-11	81	97
Net Debt to Equity	-6.34	3.59	-46.05	-49.08	-60.7	-16.11	-288.24	-175.9
Tangible Common Equity Ratio	-312	-210.6	53.02	47.59	47.48	33.46	-30.03	-72.55
Current Ratio	2.36	3.23	5.82	5.75	3.86	2.54	3.06	2.43
Cash Conversion Cycle	- -	196.26	204.57	160.28	109.78	200.89	276.38	258.56

Cash Flow Statement (USD)

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	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
+ Net Income	-23	-31	-42	-51	-52	-60	-113	-58
+ Depreciation & Amortization	1	2	2	3	5	6	5	5
+ Non-Cash Items	1	- -	4	2	12	10	38	24
+ Stock-Based Compensation	- -	- -	1	4	6	10	10	10
+ Deferred Income Taxes	- -	- -	- -	- -	- -	- -	- -	- -
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	22	1
+ Other Non-Cash Adj	- -	- -	3	-1	5	- -	5	13
+ Chg in Non-Cash Work Cap	-4	- -	-3	6	-5	-11	-10	5
+ (Inc) Dec in Accts Receiv	-1	-1	- -	-1	-15	12	1	-2
+ (Inc) Dec in Inventories	- -	-3	-2	6	-10	-17	- -	9
+ (Inc) Dec in Prepaid Assets	-1	- -	- -	-1	- -	1	-2	-1
+ Inc (Dec) in Accts Payable	-1	4	- -	2	20	-6	-7	1
+ Inc (Dec) in Other	-2	- -	- -	- -	1	-3	-3	-2
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	-25	-29	-40	-40	-39	-55	-80	-24
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-5	-6	-5	-5	-10	-6	-12	-3
+ Acq of Fixed Prod Assets	-5	-6	-5	-5	-10	-6	-12	-3
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	- -	- -	60	49	104	- -	1	21
+ Increase in Capital Stock	- -	- -	60	49	104	- -	1	21
+ Decrease in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	- -	- -	-2	-8	-1	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	-2	-8	-1	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-5	-6	-5	-6	-18	-7	-12	-3
+ Dividends Paid	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Debt	6	11	10	11	-1	2	52	- -
+ Cash From Debt	12	11	32	18	46	5	99	- -
+ Repayments of Debt	-6	- -	-22	-7	-47	-3	-47	- -
+ Other Financing Activities	16	45	7	- -	-3	3	-2	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	22	56	77	59	100	4	51	21
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	-8	21	32	13	42	-58	-40	-6
EBITDA	-21	-27	-35	-45	-38	-51	-72	-33
EBITDA Margin (%)	-69.39	-75.95	-82.46	-93.73	-30.42	-45.09	-108.18	-47.71
Free Cash Flow	-30	-35	-45	-44	-49	-61	-92	-27
Net Cash Paid for Acquisitions	- -	- -	- -	2	8	1	- -	- -
Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow to Equity	- -	-25	-35	-34	-50	-60	-39	-27
Free Cash Flow per Basic Share	-31.98	-24.79	-124.47	-19.1	-16.55	-18.9	-27.46	-4.52
Price/Free Cash Flow	- -	- -	-1.66	-6.48	-21.56	-10.86	-1.05	-0.28
Cash Flow to Net Income	1.1	0.94	0.94	0.78	0.77	0.93	0.71	0.42
Capital Expenditures	-5	-6	-5	-5	-10	-6	-12	-3