By acquiring The Sleep Center of Nevada, Vivos expands its business model to make its OSA treatments available to thousands of patients in the greater Las Vegas metro area Acquisition expected to close later this quarter or in the third quarter LITTLETON, Colo., April 16, 2025 (GLOBE NEWSWIRE) -- Vivos Therapeutics, Inc. ("Vivos" or the "Company") (NASDAQ:VVOS), a leader in proprietary, non-invasive treatments for obstructive sleep apnea (OSA), today announced a definitive agreement to acquire the operating ...

Vivos Therapeutics, Inc. (VVOS) came out with a quarterly loss of $0.28 per share versus the Zacks Consensus Estimate of a loss of $0.43. This compares to loss of $3.05 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 34.88%. A quarter ago, it was expected that this company would post a loss of $0.70 per share when it actually produced a loss of $0.40, delivering a surprise of 42.86%. Over the last four quarters, the company h ...

Revenue Performance - Product revenue increased by 26% year over year, contributing to a total revenue of approximately $15.0 million for the full year ended December 31, 2024, compared to $13.8 million in 2023[2] - Total revenue increased to $15,031 million in 2024, up from $13,801 million in 2023, representing a growth of 8.9%[18] - Product revenue rose to $7,874 million in 2024, compared to $6,270 million in 2023, reflecting an increase of 25.6%[18] - Service revenue decreased to $7,157 million in 2024, down from $7,531 million in 2023, indicating a decline of 5%[18] Operating Performance - Operating expenses decreased by $5.4 million, or 21%, to $20.2 million for the full year ended December 31, 2024, reflecting ongoing cost-cutting initiatives[2] - Total operating expenses decreased to $20,190 million in 2024, down from $25,567 million in 2023, a reduction of 21%[18] - Operating loss reduced by $6.1 million, or 35%, to $11.2 million in 2024 from $17.3 million in 2023[2] - Operating loss narrowed to $(11,171) million in 2024, compared to $(17,296) million in 2023, showing an improvement of 35%[18] Profitability and Loss - Net loss for 2024 was $(11,136) million, an improvement from $(13,583) million in 2023, reflecting a reduction of 18%[18] - Net loss per share (basic and diluted) improved to $(2.22) in 2024 from $(11.14) in 2023[18] Cash and Liquidity - Cash and cash equivalents increased to $6.3 million as of December 31, 2024, following approximately $17.9 million raised through four equity transactions during the year[2] - The company raised $7.5 million from New Seneca Partners as part of its efforts to strengthen capital structure and improve liquidity[4] - Vivos aims to achieve cash flow positive operations and profitability in the foreseeable future, supported by its new strategic initiatives[4] Patient Treatment and Market Strategy - The number of patients treated with Vivos' patented oral appliances rose to approximately 58,000 worldwide, up from over 42,000 at the end of 2023[2] - Vivos received FDA clearance for the DNA appliance in September 2024, allowing treatment of moderate to severe OSA in children ages 6 to 17, complementing the 2023 clearance for adults[2] - The new marketing and distribution strategy focuses on contractual, profit-sharing alliances with sleep healthcare providers, initiated with Rebis Health Holdings in June 2024[3] - Vivos expects to present treatments to more patients and increase revenue per case, projecting contribution margins of approximately 50% per patient[5] Shareholder Information - Weighted average number of shares outstanding increased significantly to 5,019,886 in 2024 from 1,219,381 in 2023[18] - The company reported a change in fair value of warrant liability, net of issuance costs, which contributed positively in 2023 but was not present in 2024[18]

Financial Data and Key Metrics Changes - Total revenue for 2024 was $15 million, a 9% increase from $13.8 million in 2023, driven by higher product revenue from appliance sales, partially offset by a decrease in service revenue from fewer VIP enrollments [29][30] - Product revenue increased by 26% to approximately $7.9 million, with 16,182 oral appliance arches and guides sold, compared to 8,240 units for $6.3 million in 2023 [30] - Operating loss decreased by 35% to approximately $11.2 million in 2024 from $17.3 million in 2023, attributed to higher revenue and lower operating expenses [35] Business Line Data and Key Metrics Changes - The company successfully reduced operating expenses by 21%, leading to a significant reduction in operating loss [10] - Sales and marketing expenses decreased to approximately $1.7 million in 2024 from $2.5 million in 2023, reflecting lower sales commissions and expenses [32] - General and administrative expenses decreased by approximately $4.6 million, or 20%, to $17.9 million in 2024, driven by cost-cutting measures [33] Market Data and Key Metrics Changes - The company expanded into the Middle East, gaining regulatory approvals in key markets such as Dubai, Jordan, and Qatar, with demand exceeding forecasts [12] - The new marketing and distribution model aims to capture a significant share of the 125,000 newly diagnosed OSA patients per month in the U.S. [14] Company Strategy and Development Direction - The company is pivoting from a reliance on VIP enrollment revenue to a new model focusing on contractual profit-sharing alliances and acquisitions of sleep testing clinics [14][15] - The strategic alliance with Rebus Healthcare is expected to enhance the company's market presence and drive sales of its appliances [15][16] - The new model aims to present Vivos treatment options to more patients, increasing the likelihood of selecting Vivos over traditional CPAP treatments [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, expecting 2025 to be materially better in terms of top-line revenue and net profits compared to 2024 [70] - The company anticipates that the new marketing model will lead to higher revenue per case and increased profitability as it fully implements adjunctive diagnostic and therapeutic services [19][21] - Management highlighted the importance of training dentists and establishing partnerships with sleep centers to facilitate patient conversions [97][100] Other Important Information - The company raised approximately $17.9 million through equity transactions in 2024, strengthening its liquidity position [13][38] - As of December 31, 2024, the company had approximately $6.3 million in cash equivalents, up from $1.6 million in 2023 [38] Q&A Session Summary Question: What is the incentive for Rebus in the collaboration? - Management explained that Rebus sees an improvement in care quality and a new profit stream by offering Vivos treatments, differentiating themselves from competitors [44][49] Question: Can you elaborate on the transition of the medical integration division to an M&A team? - Management noted that the transition allows for direct engagement with medical sleep testing centers, enhancing the implementation of the new model [55][60] Question: How should investors view 2025 relative to 2024 in terms of revenue? - Management indicated that revenue from the Rebus affiliation will begin to show in 2025, with expectations for substantial growth throughout the year [70] Question: How does the $4,500 revenue from a patient work through the income statement? - Management clarified that this revenue will be categorized under product revenue, with adjustments to COGS for any profit-sharing arrangements [72][74] Question: What factors might affect the speed of converting potential customers into Vivos customers? - Management highlighted the importance of having trained dentists available and noted that they have a ready pool of interested providers [97][100] Question: What is the scale of potential acquisitions of sleep centers? - Management stated that sleep centers are typically profitable but operate on a high volume, low margin basis, indicating a strategic interest in acquiring such centers [114]

Financial Performance - Total revenue for 2024 was $15,031,000, representing a 8.9% increase from $13,801,000 in 2023[432]. - Product revenue increased to $7,874,000 in 2024, up 25.6% from $6,270,000 in 2023[432]. - Service revenue decreased to $7,157,000 in 2024, down 5% from $7,531,000 in 2023[432]. - Gross profit for 2024 was $9,019,000, compared to $8,271,000 in 2023, reflecting a gross margin improvement[432]. - Operating loss narrowed to $11,171,000 in 2024 from $17,296,000 in 2023[432]. - Net loss for 2024 was $11,136,000, an improvement from a net loss of $13,583,000 in 2023[432]. - The basic and diluted net loss per share for 2024 was $2.22, compared to $11.14 in 2023, showing a substantial improvement[564]. Cash and Assets - Cash and cash equivalents increased to $6,260,000 at the end of 2024, up from $1,643,000 at the end of 2023[438]. - Total assets grew to $15,284,000 in 2024, compared to $10,730,000 in 2023, indicating a significant increase in the company's asset base[430]. - Total stockholders' equity rose to $7,954,000 in 2024 from $411,000 in 2023, reflecting improved financial health[430]. - As of December 31, 2024, the company had approximately $6.3 million in cash and cash equivalents, which is insufficient to fund operations over the next twelve months[499]. Revenue Sources and Business Model - A substantial portion of future revenue is expected to derive from sales of appliances and treatments through a new strategic alliance and acquisition model[17]. - The company expects to derive a significant portion of future revenue from sales through Dental Service Organizations (DSOs) and Medical Service Organizations (MSOs)[17]. - The company is pivoting its business strategy to focus on contractual alliances with OSA healthcare providers, moving away from dependence on dentist sales[448]. - Revenue from MyoCorrect services is recognized over a 12-month performance period as therapy sessions occur[462]. - Revenue from appliance sales is recognized when control is transferred to the VIP, with product revenue recorded upon shipment to the VIP[468]. Regulatory and Operational Risks - The company faces risks related to government regulations and the need to obtain regulatory approvals for its products[20]. - The company is subject to extensive governmental regulation that could prevent it from manufacturing or obtaining Vivos appliances or introducing new products[20]. - The company has identified material weaknesses in internal controls, which may result in material misstatements of consolidated financial statements[17]. - The company may not be able to protect its patents and proprietary technology, exposing it to intellectual property claims or litigation[20]. Equity and Financing - The weighted average number of shares outstanding increased to 5,019,886 in 2024 from 1,219,381 in 2023, indicating significant equity financing activity[432]. - The company raised equity capital in late 2023 and throughout 2024 to address cash needs and bolster stockholders' equity for Nasdaq compliance[500]. - The company closed a private placement on November 2, 2023, raising $4.0 million by selling 130,000 shares and warrants, with issuance costs of approximately $0.5 million[518]. - The December 2024 Offering raised approximately $3.5 million, with offering expenses of about $0.5 million[535]. Customer and Supplier Dynamics - The company relies on five suppliers for approximately 57% of total purchases, indicating a significant supplier concentration risk[571]. - No single customer accounted for more than 10% of sales or accounts receivable, demonstrating a diversified customer base[570]. Research and Development - Research and development costs incurred were approximately $0.1 million for both years ended December 31, 2024 and 2023[485]. Employee and Compensation - The company entered into an employment agreement with Dr. Scott Simonetti for an annual salary of approximately $0.1 million and a five-year warrant for 16,000 shares at an exercise price of $15.25, contingent on achieving specific FDA milestones[516]. - For the year ended December 31, 2024, share-based compensation expense was approximately $0.8 million, down from $1.1 million in 2023[544].

Year over year product revenue increased 26% Operating expenses declined 21% and year over year operating loss decreased 35% Management to Host Conference Call today at 5:00 pm ET Revenue increased approximately $1.2 million, or 9%, to $15.0 million for the full year ended December 31, 2024, compared to $13.8 million for the year ended December 31, 2023. The increase in revenue was mainly due to higher product revenue offset by decreased revenue from fewer Vivos Integrated Practice (VIP) enrollments, which ...

Core Viewpoint - Vivos Therapeutics, Inc. is set to release its full year 2024 financial results on March 31, 2025, and will hold a conference call to discuss these results and recent developments [1] Company Overview - Vivos Therapeutics, Inc. specializes in medical devices and technology for treating sleep-related breathing disorders, including obstructive sleep apnea (OSA) and snoring in adults, as well as moderate to severe OSA in children aged 6 to 17 [1][4] - The Vivos Method is a clinically effective, nonsurgical, noninvasive, and cost-effective solution for treating OSA, having been proven effective in approximately 58,000 patients treated worldwide by over 2,000 trained dentists [4][5] Treatment Methodology - The Vivos Method employs proprietary CARE appliance therapy and other modalities to alter the size, shape, and position of the jaw and soft tissues in the upper airway, significantly reducing symptoms associated with OSA [5] - Vivos also markets SleepImage diagnostic technology for home sleep testing under its VivoScore program, and offers training and services to dentists through its Vivos Integrated Practice (VIP) program [5] Conference Call Details - The conference call to discuss the financial results will take place at 5:00 p.m. (Eastern Time) on March 31, 2025, with access available via phone and a live webcast on the company's website [1][2][3]

Core Insights - Vivos Therapeutics is expanding its alliance model into two additional locations in Colorado, driven by patient preference for Vivos CARE treatment over CPAP by nearly 2 to 1 [1][3] - The company is actively seeking further alliances or acquisitions of sleep medicine practices to support its national expansion goals [1][10] Group 1: Expansion and Strategic Alliances - Vivos has announced the expansion of its strategic marketing and distribution alliance with Rebis Health into two new facilities in the greater Denver area, with plans for further nationwide expansion [2] - The company is exploring alliances or acquisitions of over 2,500 accredited sleep medicine and testing groups across major U.S. cities to enhance revenue growth and reduce cash burn [10] Group 2: Patient Preference and Treatment Efficacy - Initial data from the alliance indicates a Vivos treatment case acceptance rate of 64%, significantly higher than the acceptance of CPAP [3] - Vivos CARE treatment offers advantages over CPAP, including the potential for rehabilitation of airway functionality and symptom reduction, with many patients not requiring further intervention after treatment [5] Group 3: Financial Performance and Revenue Potential - The average revenue per case for Vivos is over $4,700, with gross margins around 70%, indicating a potential for significantly higher profitability compared to previous distribution models [7] - The company anticipates that revenue growth will accelerate starting in 2025 as patient acceptance of Vivos treatment options continues to rise [9]

Core Insights - Vivos Therapeutics, Inc. is a medical device and technology company focused on developing proprietary treatments for sleep-related breathing disorders, particularly obstructive sleep apnea (OSA) and snoring in both adults and children [1][3] - The company is transitioning to a medical-based business model and is actively seeking partnerships with physician-based sleep groups to enhance its market presence [2][4] Company Overview - Vivos Therapeutics specializes in innovative diagnostic and treatment methods for breathing and sleep issues caused by dentofacial abnormalities, with a focus on the Vivos Method, which is a non-surgical and non-invasive solution for OSA [3][4] - The Vivos Method has been clinically effective for over 47,000 patients treated globally by more than 2,000 trained dentists [3] Product and Treatment Details - The Vivos Method employs proprietary CARE appliance therapy to modify the jaw and soft tissues of the upper airway, significantly reducing symptoms associated with OSA [4] - Vivos also offers SleepImage diagnostic technology for home sleep testing and provides training and services to dentists through its Vivos Integrated Practice (VIP) program [4] Upcoming Events - CEO Kirk Huntsman will participate in a fireside chat to discuss the company's strategies, market dynamics, and the role of Vivos CARE devices in OSA treatment [1][2]

Core Viewpoint - Vivos Therapeutics, Inc. has announced a registered direct offering of 709,220 shares of common stock at a price of $4.935 per share, along with a concurrent private placement of short-term warrants to purchase the same number of shares at an exercise price of $4.81 per share [1][2]. Group 1: Offering Details - The gross proceeds from the offering are expected to be approximately $3.5 million before deducting fees and expenses [2]. - If fully exercised, the short-term warrants could provide an additional gross proceeds of approximately $3.4 million [2]. - The closing of the offering is anticipated to occur on or about December 24, 2024, pending customary closing conditions [1]. Group 2: Company Background - Vivos Therapeutics specializes in developing and commercializing treatments for sleep-related breathing disorders, including obstructive sleep apnea (OSA) and snoring in both adults and children [1][10]. - The Vivos Method is a clinically effective, non-surgical, non-invasive, and cost-effective solution for treating OSA, having been proven effective in over 47,000 patients worldwide [10][11]. - The company also markets SleepImage diagnostic technology for home sleep testing and offers training and services to dentists through its Vivos Integrated Practice (VIP) program [12].