Eargo - A hearing aid company

New IPO listed on Oct 16.

YoY     Revenue     GP%     Growth%
2017     6.62 m      33      
2018    23.16 m      51      250
2019    32.79 m      52       40

H1     
2019    14.44 m      48    
2020    28.59 m      66       98

Q3
2019     7.7  m      53.6     42.8
2020    18.2  m     135.3     70.1

Q3 loss from operation
2019    12.0  m
2020     7.6  m

Key ratio
	                Mar	Jun	Sep     Dec     Mar     Jun     Sep 2020
Gross systems shipped	5,363	4,955	5,257	7,212	7,030	9,040   10,077
Return accrual rate	37%	34%	35%	34%	28%	27%     11.47%

Excerpt below from their website.

"We believe our Eargo hearing aids are the first and only virtually invisible, rechargeable, completely-in-canal, FDA regulated, Class I exempt device for the treatment of hearing loss. Our differentiated, consumer-first solution empowers consumers to take control of their hearing. Consumers can purchase online or over the phone and get personalized and convenient consultation and support from licensed hearing professionals via phone, text, email or video chat. The Eargo solution is offered to consumers at approximately half the cost of competing hearing aids purchased through traditional channels in the United States."

"Large Market with Significant Unmet Need
? 43M U.S. adults have hearing loss1,2, but only ~27% owned a hearing aid in 2019"

[https://ir.eargo.com/sec-filings/sec-filing/10-q/0001564590-...](https://ir.eargo.com/sec-filings/sec-filing/10-q/0001564590-20-054788)

For me, I think the company is providing the unique product and potentially a disruptor in a big market. 

I am interested to getting your viewpoints.
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