Itamar Medical Announces Preliminary Revenue Results for Fourth Quarter and Full Year 2020

- 2020 Fourth Quarter Revenues Expected to Increase More Than 28% to $12.5-$12.8 million -

- 2020 Fiscal Year Revenues Expected to Increase Approximately 31% to $40.8-$41.1 million -

CAESAREA, Israel, Jan. 07, 2021 (GLOBE NEWSWIRE) -- Itamar Medical Ltd. (Nasdaq: ITMR) (TASE: ITMR), a leading medical device and digital health company focused on the integration of sleep apnea management into the cardiac patient care pathway, today reported preliminary unaudited revenue results for the fourth quarter and full year ended December 31, 2020.

Preliminary Fourth Quarter 2020 Revenue:

• Total revenue for the fourth quarter of 2020 is expected to range from $12.5 million to $12.8 million, reflecting growth of 28% to 31% (and growth of 43% to 46%, excluding a one-time $1 million sale in 2019 to Kaiser Permanente) compared to $9.8 million in the same quarter in 2019.
  • WatchPAT revenue for the fourth quarter of 2020 is expected to range from $12.0 to $12.3 million, representing growth of 32% to - 35% (and growth of 48% to 52%, excluding a one-time $1 million sale in 2019 to Kaiser Permanente) compared to $9.1 million in the same quarter in 2019.
  • U.S. WatchPAT revenue for the fourth quarter of 2020 is expected to range from $10.0 million to $10.3 million, representing growth of 36% to 40% (and growth of 58% to 63%, excluding a one-time $1 million sale in 2019 to Kaiser Permanente) compared to $7.3 million in the same quarter in 2019.
    

Preliminary Full Year 2020 Revenue:

• Total revenue for the full year ended December 31, 2020 is expected to range from $40.8 million to$41.1 million, reflecting a growth of approximately 31% (and growth of 35% to36%, excluding a one-time $1 million sale in 2019 to Kaiser Permanente) compared to $31.3 million in 2019.
  • WatchPAT revenue for the full year ended December 31, 2020 is expected to range from $38.6 million to $38.9 million, an increase of 33% to 34% (and growth of 38% to 39%, excluding a one-time $1 million sale in 2019 to Kaiser Permanente) compared to $29.0 million in 2019.
  • U.S. WatchPAT revenue for the full year ended December 31, 2020 is expected to range from $31.6 million to $31.9 million, reflecting growth of 41% to 42% (and growth of 48% to 49%, excluding a one-time $1 million sale in 2019 to Kaiser Permanente) compared to $22.4 million in 2019.