Vivos Therapeutics, Inc., a medical technology company specializing in treatments for sleep-related breathing disorders, reported its financial results for the first quarter ended March 31, 2024. The company announced a decrease in revenue to $3.4 million from $3.8 million in the same period last year, primarily due to lower enrollments and appliance revenue, partially offset by increased sales of other appliances and services. Gross profit also declined to $1.9 million from $2.3 million year-over-year. However, Vivos achieved a 22% reduction in operating expenses, marking the seventh consecutive quarter of year-over-year improvement, attributed to successful cost-cutting initiatives. The company also reported a significant reduction in operating loss and continues to anticipate positive cash flow operations by the end of 2024. In February 2024, Vivos...Show More

Vivos Therapeutics, Inc., a medical technology company specializing in treatments for sleep-related breathing disorders, reported its financial results for the first quarter ended March 31, 2024. The company announced a decrease in revenue to $3.4 million from $3.8 million in the same period last year, primarily due to lower enrollments and appliance revenue, partially offset by increased sales of other appliances and services. Gross profit also declined to $1.9 million from $2.3 million year-over-year. However, Vivos achieved a 22% reduction in operating expenses, marking the seventh consecutive quarter of year-over-year improvement, attributed to successful cost-cutting initiatives. The company also reported a significant reduction in operating loss and continues to anticipate positive cash flow operations by the end of 2024. In February 2024, Vivos raised approximately $4.0 million through a common stock warrant exercise. Cash and cash equivalents stood at $2.6 million as of March 31, 2024. Patient treatments with Vivos' patented oral appliances have surpassed 42,600 worldwide, with over 1,950 dentists trained in The Vivos Method. A notable achievement in April 2024 was the receipt of all required regulatory approvals for Medicare reimbursement for Vivos' CARE oral devices, potentially increasing patient access and utilization. Vivos' CEO expressed optimism about the company's cost management, product offerings, regulatory approvals, and the potential for revenue growth and profitability. The company will discuss its strategic revenue initiatives and market prospects in an investor call.