(RTTNews) - Shares of medical technology firm Vapotherm, Inc. (VAPO) are sliding as the company reported a second-quarter net loss that missed analysts' estimates. For the second quarter, the company reported net loss of $8.032 million, narrower than the net loss of $12.88 million in the prior year. On a per-share basis, the loss was $0.35, narrower than $0.76 last year. Wall Street analysts were looking for $0.59 per share.
Revenue for the quarter increased to $35.15 million, from $11.99 million in the previous year. The company noted that the growth in revenue was primarily because of increased demand and sales for Precision Flow units in the pandemic situation.
Looking ahead, the company expects third-quarter revenue in a range of $24 million to $28 million with a year over year increase of 122 to 159 percent.
VAPO is currently at $36.19, down 31.40 percent from the previous close of $52.75.
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