Vivos Therapeutics, Inc. ( (VVOS) ) has released its Q4 earnings. Here is a breakdown of the information Vivos Therapeutics, Inc. presented to its investors.
Vivos Therapeutics, Inc. is a medical technology company focused on developing and commercializing innovative treatments for sleep-related breathing disorders, particularly obstructive sleep apnea (OSA), using non-surgical and non-invasive methods. The company operates in the healthcare sector, offering proprietary oral appliances and related services.
In its latest earnings report for the full year 2024, Vivos Therapeutics reported a 9% increase in revenue, reaching $15 million, driven by higher product sales despite a decrease in service revenue. The company also highlighted a significant reduction in operating expenses by 21%, contributing to a 35% decrease in operating loss compared to the previous year.
Key financial metrics from the report include a gross profit of $9 million and a consistent gross margin of 60%. The company successfully raised $17.9 million through equity transactions, enhancing its cash position to $6.3 million by year-end. Vivos also achieved a milestone with FDA clearance for its DNA appliance to treat moderate to severe OSA in children, expanding its market reach.
Vivos’ strategic shift towards provider-based alliances, exemplified by its partnership with Rebis Health Holdings, is expected to increase patient access and treatment uptake. This new model aims to improve revenue and profit margins per case, positioning Vivos for potential growth in the coming year.
Looking ahead, Vivos Therapeutics is optimistic about its prospects for 2025, with plans to continue leveraging its innovative products and strategic partnerships to drive revenue growth and achieve profitability. The company remains committed to expanding its market presence and enhancing its financial performance.