Why Vapotherm Stock Soared 34.2% Today

Shares of Vapotherm (NYSE: VAPO), a medical technology company, jumped 34.2% on Wednesday, after it reported its fiscal first-quarter earnings. Vapotherm’s services are in high demand during the COVID-19 pandemic because of one of its devices.

During the first quarter, Vapotherm’s revenue was $19.1 million, a 55.4% year-over-year increase. It came in slightly ahead of the $18.9 million analysts were expecting. Also, the company reported a net loss of $13.8 million, slightly worse than the $12.9 million it reported during the prior-year quarter.

The healthcare company recorded a $0.66 net loss per share, worse than the average analyst estimates of a $0.56 net loss. Financial results were mixed, but investors seem optimistic about the company’s Precision Flow Hi-VNI system. This respiratory support device has seen a surge in demand as a result of the rapid spread of COVID-19.

Source Fool.com