On March 28, 2024, Vivos Therapeutics, Inc., a medical technology company specializing in treatments for sleep-related breathing disorders, announced its financial results for the fourth quarter and fiscal year ended December 31, 2023. The company reported a decrease in revenue to $3.2 million for the fourth quarter and $13.8 million for the full year, compared to the previous year's figures of $4.0 million and $16.0 million, respectively. This decline was attributed to lower appliance revenue and enrollments in the Vivos Integrated Provider program, partially offset by increased revenue from home sleep testing services and seminars. Despite the revenue drop, Vivos achieved a 27% reduction in annual operating expenses due to cost-cutting initiatives, leading to a significant reduction in net loss for both the fourth quarter and...Show More

On March 28, 2024, Vivos Therapeutics, Inc., a medical technology company specializing in treatments for sleep-related breathing disorders, announced its financial results for the fourth quarter and fiscal year ended December 31, 2023. The company reported a decrease in revenue to $3.2 million for the fourth quarter and $13.8 million for the full year, compared to the previous year's figures of $4.0 million and $16.0 million, respectively. This decline was attributed to lower appliance revenue and enrollments in the Vivos Integrated Provider program, partially offset by increased revenue from home sleep testing services and seminars. Despite the revenue drop, Vivos achieved a 27% reduction in annual operating expenses due to cost-cutting initiatives, leading to a significant reduction in net loss for both the fourth quarter and the full year. The company also highlighted the successful exercise of a common stock purchase warrant in February 2024, which generated approximately $4.0 million in gross proceeds. Vivos reported treating over 42,000 patients with its patented oral appliances and training over 1,900 dentists in The Vivos Method. Strategic agreements with Ormco and On Demand Orthodontist were announced to expand product lines and create additional revenue opportunities. Vivos also entered into an exclusive distribution agreement with NOUM DMCC for the MENA region and announced a clinical trial at Stanford Medicine to test its DNA appliance. A reverse stock split was effected in October 2023, and an amended distribution agreement with Lincare was signed. Notably, the company received FDA 510(k) clearance for its CARE oral appliances to treat severe obstructive sleep apnea in adults. Vivos anticipates becoming cash flow positive by the end of 2024 if revenue increases as planned.