Vivos Therapeutics, a medical technology company specializing in treatment alternatives for patients with dentofacial abnormalities and obstructive sleep apnea (OSA), reported financial results for the quarter ended September 30, 2024. Revenue increased by 17% to $3.9 million compared to $3.3 million in the same period last year, driven by a $0.5 million rise in product revenue and a $0.1 million increase in service revenue. The company enrolled 5 VIPs, generating approximately $0.9 million in revenue, a 6% decrease from the previous year. Product sales saw a 34% increase, with 1,954 oral appliance arches sold for approximately $2.0 million. Gross profit improved to 60% from 53%, with a gross profit of $2.3 million. Operating expenses saw a decrease in general and administrative costs by 2% to $4.5 million and a 46% reduction in sales and marketing expenses to $0.3 million. The...Show More

Vivos Therapeutics, a medical technology company specializing in treatment alternatives for patients with dentofacial abnormalities and obstructive sleep apnea (OSA), reported financial results for the quarter ended September 30, 2024. Revenue increased by 17% to $3.9 million compared to $3.3 million in the same period last year, driven by a $0.5 million rise in product revenue and a $0.1 million increase in service revenue. The company enrolled 5 VIPs, generating approximately $0.9 million in revenue, a 6% decrease from the previous year. Product sales saw a 34% increase, with 1,954 oral appliance arches sold for approximately $2.0 million. Gross profit improved to 60% from 53%, with a gross profit of $2.3 million. Operating expenses saw a decrease in general and administrative costs by 2% to $4.5 million and a 46% reduction in sales and marketing expenses to $0.3 million. The company's net loss widened to $2.6 million from $2.1 million. Vivos Therapeutics also highlighted its strategic alliance with Rebis Health Holdings, LLC to jointly market and distribute products as a comprehensive solution for OSA patients, and a management services agreement with V-CO Investors LLC to assist in establishing and growing the strategic alliance. The company is working on remediation plans to address material weaknesses in internal control over financial reporting and is committed to maintaining a strong internal control environment.