Summary by Futu AI
Vivos Therapeutics, Inc., a medical technology company specializing in treatments for sleep-related breathing disorders, reported its financial results for the first quarter ended March 31, 2024. The company announced a decrease in revenue to $3.4 million from $3.8 million in the same period last year, primarily due to lower enrollments and appliance revenue, partially offset by increased sales of other appliances and services. Gross profit also declined to $1.9 million from $2.3 million year-over-year. However, Vivos achieved a 22% reduction in operating expenses, marking the seventh consecutive quarter of year-over-year improvement, attributed to successful cost-cutting initiatives. The company also reported a significant reduction in operating loss and continues to anticipate positive cash flow operations by the end of 2024. In February 2024, Vivos...Show More