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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財年一季報
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.
醫療科技公司vivos therapeutics專注於爲患有牙頜畸形和睡眠呼吸暫停症的患者提供治療替代方案，報告2024年第一季度收入下降。總收入降低11％，至340萬美元，而上一年同期爲390萬美元。這一下降歸因於產品收入下降98,000美元和服務收入下降340,000美元。公司淨虧損由去年同期的170萬美元擴大至380萬美元。營業費用由於裁員導致的專業費用和人員費用減少而下降了25％，達到490萬美元。儘管採取了降低成本的措施和減少經營現金流的措施，但vivos therapeutics承認需要額外融資以維持經營並符合納斯達克最低股東權益要求。截至2024年3月31日，公司的現金及現金等價物爲260萬美元。vivos therapeutics繼續推行糾正計劃，以解決財務報告的內部控制重大缺陷，預計在2024年取得進展。
醫療科技公司vivos therapeutics專注於爲患有牙頜畸形和睡眠呼吸暫停症的患者提供治療替代方案，報告2024年第一季度收入下降。總收入降低11％，至340萬美元，而上一年同期爲390萬美元。這一下降歸因於產品收入下降98,000美元和服務收入下降340,000美元。公司淨虧損由去年同期的170萬美元擴大至380萬美元。營業費用由於裁員導致的專業費用和人員費用減少而下降了25％，達到490萬美元。儘管採取了降低成本的措施和減少經營現金流的措施，但vivos therapeutics承認需要額外融資以維持經營並符合納斯達克最低股東權益要求。截至2024年3月31日，公司的現金及現金等價物爲260萬美元。vivos therapeutics繼續推行糾正計劃，以解決財務報告的內部控制重大缺陷，預計在2024年取得進展。
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