Vivos Therapeutics, Inc. ( (VVOS) ) has released its Q3 earnings. Here is a breakdown of the information Vivos Therapeutics, Inc. presented to its investors.
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Vivos Therapeutics, Inc. is a medical technology company that develops and commercializes innovative treatments for sleep-related breathing disorders, including obstructive sleep apnea and snoring, using noninvasive methods.
In its latest earnings report, Vivos Therapeutics highlighted a 17% increase in quarterly revenue and significant operational improvements. The company continues to focus on growth through its proprietary technology aimed at addressing obstructive sleep apnea and other sleep disorders.
The company’s revenue for the third quarter of 2024 was $3.9 million, showing an increase from $3.3 million in the same period in 2023. This growth was primarily driven by higher product sales and early recognition of deferred revenue. Additionally, Vivos saw a reduction in operating expenses by 8% year-over-year, contributing to a 27% decrease in operating loss. Vivos also reported a successful $4.3 million equity offering, bolstering its financial position.
Strategically, Vivos achieved notable milestones including receiving FDA clearance for its devices to treat moderate to severe obstructive sleep apnea in children, and the introduction of new medical codes by the American Medical Association, which could facilitate broader adoption of its devices.
Looking ahead, Vivos Therapeutics remains focused on expanding its marketing and distribution model, aiming for positive cash flow by mid-2025. The company’s management is optimistic about leveraging recent strategic achievements to ensure continued growth and profitability.
