The following is a summary of the Vivos Therapeutics, Inc. (VVOS) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Vivos Therapeutics reported a revenue of $3.9 million in Q3 2024, a 17% increase from Q3 2023.

• Gross profit for Q3 2024 was $2.3 million, up 34% from the previous year, with a gross margin increase from 53% to 60%.

• The net loss increased by 25% in Q3 2024 to $2.6 million, primarily due to a change in the fair value of a warrant liability.

• Significant decrease in operating expenses and operating loss, contributing to improved financial health despite the increased net loss.

Business Progress:

• Vivos Therapeutics has shifted its marketing and distribution focus, moving away from enrolling VIPs to affiliating with sleep providers, indicating a strategic shift in business operations.

• The strategic alliance rollout with Rivas Health marked the first implementation of the new model, expected to scale up in Q4 2024 and through 2025, potentially increasing access to Vivos products for OSA patients.

• The company also highlighted its recent FDA clearances for treating OSA in both children and adults, which is expected to broaden market opportunities and enhance product credibility.

Opportunities:

• The strategic shift towards focusing on sleep provider affiliations over VIP enrollments is expected to broaden the patient base and enhance revenue streams. This is also supported by having achieved significant FDA clearances.

• Given the high prevalence of sleep apnea and the low penetration of effective treatments, the strategic alignment with sleep clinics could address large untapped markets.

Risks:

• Transitioning to a new sales and distribution model could face execution risks given the reliance on the successful scaling of strategic alliances. The lack of immediate revenue replacement as the company transitions from VIP enrollments might affect short-term financial stability.

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.