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Vivos Therapeutics | 10-Q: Q1 2024 Earnings Report

Vivos Therapeutics | 10-Q: Q1 2024 Earnings Report

Vivos Therapeutics | 10-Q：2024财年一季报
美股sec公告 ·  05/14 16:22
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Vivos Therapeutics, a medical technology company specializing in treatment alternatives for patients with dentofacial abnormalities and sleep apnea, reported a decrease in revenue for the first quarter of 2024. Total revenue fell by 11% to $3.4 million compared to $3.9 million in the same period of the previous year. This decline was attributed to a $98,000 drop in product revenue and a $340,000 decrease in service revenue. The company's net loss widened to $3.8 million from $1.7 million year-over-year. Operating expenses decreased by 25% to $4.9 million, primarily due to reduced professional fees and personnel costs following a reduction in force. Despite cost-saving measures and reduced cash used in operations, Vivos Therapeutics acknowledged the need for additional financing to sustain operations and comply with Nasdaq's minimum stockholders' equity requirement. The company's cash and cash equivalents stood at $2.6 million as of March 31, 2024. Vivos Therapeutics continues to implement a remediation plan to address material weaknesses in internal control over financial reporting, with progress expected throughout 2024.
Vivos Therapeutics, a medical technology company specializing in treatment alternatives for patients with dentofacial abnormalities and sleep apnea, reported a decrease in revenue for the first quarter of 2024. Total revenue fell by 11% to $3.4 million compared to $3.9 million in the same period of the previous year. This decline was attributed to a $98,000 drop in product revenue and a $340,000 decrease in service revenue. The company's net loss widened to $3.8 million from $1.7 million year-over-year. Operating expenses decreased by 25% to $4.9 million, primarily due to reduced professional fees and personnel costs following a reduction in force. Despite cost-saving measures and reduced cash used in operations, Vivos Therapeutics acknowledged the need for additional financing to sustain operations and comply with Nasdaq's minimum stockholders' equity requirement. The company's cash and cash equivalents stood at $2.6 million as of March 31, 2024. Vivos Therapeutics continues to implement a remediation plan to address material weaknesses in internal control over financial reporting, with progress expected throughout 2024.
医疗科技公司vivos therapeutics专注于为患有牙颌畸形和睡眠呼吸暂停症的患者提供治疗替代方案，报告2024年第一季度收入下降。总收入降低11％，至340万美元，而上一年同期为390万美元。这一下降归因于产品收入下降98,000美元和服务收入下降340,000美元。公司净亏损由去年同期的170万美元扩大至380万美元。营业费用由于裁员导致的专业费用和人员费用减少而下降了25％，达到490万美元。尽管采取了降低成本的措施和减少经营现金流的措施，但vivos therapeutics承认需要额外融资以维持经营并符合纳斯达克最低股东权益要求。截至2024年3月31日，公司的现金及现金等价物为260万美元。vivos therapeutics继续推行纠正计划，以解决财务报告的内部控制重大缺陷，预计在2024年取得进展。
医疗科技公司vivos therapeutics专注于为患有牙颌畸形和睡眠呼吸暂停症的患者提供治疗替代方案，报告2024年第一季度收入下降。总收入降低11％，至340万美元，而上一年同期为390万美元。这一下降归因于产品收入下降98,000美元和服务收入下降340,000美元。公司净亏损由去年同期的170万美元扩大至380万美元。营业费用由于裁员导致的专业费用和人员费用减少而下降了25％，达到490万美元。尽管采取了降低成本的措施和减少经营现金流的措施，但vivos therapeutics承认需要额外融资以维持经营并符合纳斯达克最低股东权益要求。截至2024年3月31日，公司的现金及现金等价物为260万美元。vivos therapeutics继续推行纠正计划，以解决财务报告的内部控制重大缺陷，预计在2024年取得进展。
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