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Vivos Therapeutics | 8-K: Vivos Therapeutics Reports Second Quarter 2024 Financial Results and Provides Operational Update

SEC ·  Aug 16 00:57
Summary by Futu AI
On August 14, 2024, Vivos Therapeutics, Inc., a medical device and technology company specializing in treatments for sleep-related breathing disorders, announced its financial results for the second quarter ended June 30, 2024. The company reported a 19% increase in revenue to $4.1 million for the quarter and $7.5 million for the first half of the year. This growth is attributed to higher product sales and service revenue, including an increase in Vivos Integrated Provider enrollment revenue. Gross profit also rose to $2.7 million for the quarter, with a gross margin increase to 65%. Operating expenses decreased by 31% due to successful cost-cutting initiatives, leading to a significant reduction in operating loss. Vivos also highlighted its strategic marketing and distribution alliance with a Colorado sleep treatment operator and a...Show More
On August 14, 2024, Vivos Therapeutics, Inc., a medical device and technology company specializing in treatments for sleep-related breathing disorders, announced its financial results for the second quarter ended June 30, 2024. The company reported a 19% increase in revenue to $4.1 million for the quarter and $7.5 million for the first half of the year. This growth is attributed to higher product sales and service revenue, including an increase in Vivos Integrated Provider enrollment revenue. Gross profit also rose to $2.7 million for the quarter, with a gross margin increase to 65%. Operating expenses decreased by 31% due to successful cost-cutting initiatives, leading to a significant reduction in operating loss. Vivos also highlighted its strategic marketing and distribution alliance with a Colorado sleep treatment operator and a $7.5 million equity investment from New Seneca Partners, Inc. The company anticipates positive cash flow in early 2025 and has treated over 45,000 patients with its patented oral appliances. Additionally, Vivos received regulatory approvals for Medicare reimbursement for its CARE oral devices and announced positive results from a marketing pilot for its oral appliance therapy.

This announcement is a separate document:

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