Itamar Medical Ltd. provided revenue guidance for the first quarter of 2020. For the quarter, the company expected total revenue for the first quarter of 2020 is expected to be $8.4 to $8.6 million, an increase of 40% to 42% compared to the same period in 2019. The growth in revenue was primarily attributed to an increase in WatchPAT products sales in the U.S. and Japan. U.S. WatchPAT ONE drove a material portion of overall WatchPAT sales.

Due to the rapidly evolving global market environment and continued uncertainties resulting from the duration and impact of COVID-19, Itamar Medical is withdrawing its previously announced annual guidance for 2020, which was issued on January 13, 2020. Despite the increased demand created by the single use safety profile of the WatchPAT ONE device, which has the potential to offset the softness in Itamar Medical's multiuse device business, the Company cannot yet predict the impact of COVID-19.