On November 14, 2024, Vivos Therapeutics, Inc., a medical device and technology company, announced its financial results for the third quarter ending September 30, 2024. The company reported a revenue increase of 17% quarter over quarter, with a total revenue of $3.9 million for Q3 and $11.3 million for the nine months ended September 30, 2024. This growth is attributed to higher product sales and service revenue, offset by lower myofunctional therapy revenues. Gross profit also rose to $2.3 million for Q3, with a gross margin increase to 60% compared to 53% in the same period last year. Operating expenses decreased by 8%, reflecting the company's successful cost-cutting initiatives, leading to a 27% reduction in operating loss for the quarter. Vivos anticipates achieving positive cash flow from operations by mid-2025. The company also highlighted...Show More

On November 14, 2024, Vivos Therapeutics, Inc., a medical device and technology company, announced its financial results for the third quarter ending September 30, 2024. The company reported a revenue increase of 17% quarter over quarter, with a total revenue of $3.9 million for Q3 and $11.3 million for the nine months ended September 30, 2024. This growth is attributed to higher product sales and service revenue, offset by lower myofunctional therapy revenues. Gross profit also rose to $2.3 million for Q3, with a gross margin increase to 60% compared to 53% in the same period last year. Operating expenses decreased by 8%, reflecting the company's successful cost-cutting initiatives, leading to a 27% reduction in operating loss for the quarter. Vivos anticipates achieving positive cash flow from operations by mid-2025. The company also highlighted the closing of a $4.3 million registered direct equity offering, which improved its financial position, with cash and cash equivalents totaling $6.3 million as of September 30, 2024. Vivos reported treating over 47,000 patients with its patented oral appliances worldwide and has trained more than 2,000 dentists in the use of The Vivos Method. Additionally, Vivos announced a significant regulatory milestone with the FDA's first-ever 510(k) clearance to treat moderate to severe OSA and snoring in children ages 6 to 17 using its proprietary oral medical device. The company also noted the issuance of new CPT medical codes by the AMA, effective January 1, 2025, which could lead to wider adoption of its devices. Vivos' CEO, Kirk Huntsman, expressed optimism about the company's cost management and growth potential, particularly with recent FDA clearance and new insurance codes. The company will discuss these results and updates in a conference call.