Vivos Therapeutics(VVOS)

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Vivos Therapeutics(VVOS) - 2024 Q2 - Earnings Call Transcript
2024-08-15 18:05
Financial Data and Key Metrics Changes - Total revenue for Q2 2024 was $4.1 million, a 19% increase compared to $3.4 million in Q2 2023 and Q1 2024 [9][20] - Gross profit increased to $2.7 million in Q2 2024 from $2.1 million in Q2 2023, with a gross margin of 65% compared to 62% [13][20] - Net loss decreased by 65% to $1.9 million in Q2 2024 from $5.5 million in Q2 2023 [16][20] Business Line Data and Key Metrics Changes - Product revenue increased by approximately $400,000 due to higher sales and fewer discounts on Vivos appliances [9] - Service revenue rose by $200,000, driven by an increase in Vivos Integrated Provider (VIP) enrollment revenue [9] - Myofunctional Therapy revenues decreased by $100,000 [9] Market Data and Key Metrics Changes - The company enrolled 32 VIPs in Q2 2024, recognizing VIP enrollment revenue of $1.2 million, a 28% increase from Q2 2023 [10] - The number of oral appliance arches sold in Q2 2024 was 2,033, generating $2 million in revenue, a 28% increase from Q2 2023 [11] Company Strategy and Development Direction - The company is pivoting towards a strategic alliance model with medical professionals to enhance revenue per clinical case and gross profit [22][23] - A new strategic alliance with a multicenter sleep clinic in Colorado was launched, expected to broaden access to OSA patients [12][22] - The company aims to reduce reliance on VIP enrollments and increase patient access through collaborations with sleep testing centers [12][26] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth, citing a significant opportunity in the OSA market with many undiagnosed patients [27][28] - The company anticipates achieving positive cash flow from operations in the foreseeable future [20][29] - Management highlighted the importance of the new strategic model in positioning the company for long-term success [22][29] Other Important Information - The company secured a $7.5 million equity investment to bolster liquidity and support the new strategic alliance [19][28] - Cash and cash equivalents increased to approximately $6.9 million as of June 30, 2024, compared to $1.6 million at the end of 2023 [19][20] Q&A Session Summary Question: Importance of the strategic alliance with the sleep clinic - Management emphasized the significance of the strategic pivot towards medical distribution, moving away from a solely dental channel [30][32] Question: Future of VIP doctors or dentists - Management indicated that there is still a large market for VIP doctors, and they will continue to support and train them [37][40] Question: Details on cost-cutting efforts - Management detailed significant reductions in SG&A costs and operational cash flow, achieved through workforce reductions and cuts in non-essential expenditures [41][42] Question: Revenue increase due to lower discounts - Management explained that the reduction in discounts was a conscious decision to uphold the value proposition of their products [44][45] Question: Steady state for operating expenses - Management noted that operating expenses are still in transition as the company pivots to a new model, making it difficult to define a steady state [48][49]
Vivos Therapeutics(VVOS) - 2024 Q1 - Earnings Call Transcript
2024-05-18 01:02
Vivos Therapeutics, Inc. (NASDAQ:VVOS) Q1 2024 Results Conference Call May 14, 2024 5:00 PM ET Company Participants Julie Gannon - Investor Relations Officer Kirk Huntsman - Chairman & Chief Executive Officer Brad Amman - Chief Financial Officer Conference Call Participants Lucas Ward - Ascendiant Capital Markets Operator Good day, everyone, and welcome to the Vivos Therapeutics First Quarter 2024 Earnings Conference Call. At this time, participants are in a listen-only mode. A question-and-answer session w ...
Vivos Therapeutics(VVOS) - 2024 Q1 - Quarterly Results
2024-05-15 18:54
Exhibit 99.1 Kirk Huntsman, Vivos' Chairman and Chief Executive Officer, stated, "We are proud of the prudent way we have managed our costs and our cash resources as well as our successful efforts to expand our product offerings, gain unprecedented regulatory approvals and obtain Medicare reimbursement for our CARE oral devices. That said, we recognize that our revenues have not grown as we would have liked. To that end, we are announcing today the anticipated launch of a new strategic revenue initiative ba ...
Vivos Therapeutics(VVOS) - 2024 Q1 - Quarterly Report
2024-05-14 20:16
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading symbol(s) | Name of exchange on which registered | | --- | --- | --- | | Common stock, par value $0.0001 per share | VVOS | Nasdaq Capital Market | Indicate by check mark whether the registrant (1) has filed all reports required to be fi ...
Vivos Therapeutics(VVOS) - 2023 Q4 - Earnings Call Transcript
2024-03-29 03:10
Vivos Therapeutics, Inc. (NASDAQ:VVOS) Q4 2023 Earnings Conference Call March 28, 2024 5:00 PM ET Company Participants Julie Gannon - Investor Relations Officer Kirk Huntsman - Chairman & Chief Executive Officer Brad Amman - Chief Financial Officer Conference Call Participants Scott Henry - AGP Lucas Ward - Ascendiant Operator Good day, everyone, and welcome to Vivos Therapeutics Fourth Quarter and Full Year 2023 Conference Call. At this time, participants are in a listen-only mode. A question-and-answer s ...
Vivos Therapeutics(VVOS) - 2023 Q4 - Annual Results
2024-03-29 00:38
Exhibit 99.1 Positive Business Momentum and Sales Pipeline Growth Following FDA 510(k) Clearance of Vivos' Proprietary Oral Medical Devices to Treat Severe Obstructive Sleep Apnea Annual Operating Expenses Declined 27% Due to Success of Cost Cutting Initiatives Management to Host Conference Call Today at 5:00 pm ET LITTLETON, Colo., March 28, 2024 – Vivos Therapeutics, Inc. ("Vivos" or the "Company'') (NASDAQ: VVOS), a leading medical device and technology company specializing in the development and commerc ...
Vivos Therapeutics(VVOS) - 2023 Q4 - Annual Report
2024-03-28 20:23
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to Commission File Number: 001-39796 Vivos Therapeutics, Inc. (Exact Name of Registrant as Specified in its Charter) | Delaware | 81-3224056 | | --- | --- | | (State ...
Vivos Therapeutics(VVOS) - 2023 Q3 - Quarterly Report
2023-11-14 21:23
FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to Commission File Number: 001-39796 Vivos Therapeutics, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 81-3224056 (State or other j ...
Vivos Therapeutics(VVOS) - 2023 Q2 - Quarterly Report
2023-08-16 20:16
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to Commission File Number: 001-39796 Vivos Therapeutics, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 81-3224056 (State or other jurisd ...
Vivos Therapeutics(VVOS) - 2023 Q1 - Quarterly Report
2023-06-08 20:15
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to Commission File Number: 001-39796 Vivos Therapeutics, Inc. (Exact Name of Registrant as Specified in its Charter) | Delaware | 81-3224056 | | --- | --- | | ...