Revenue Increase and Cost Reduction
In 2024, Vivos Therapeutics increased product revenue by 26% and reduced operating expenses by 21%, resulting in a 35% reduction in operating loss.
Successful Market Expansion
Vivos expanded into the Middle East, gaining regulatory approvals and access to key markets including Dubai, UAE, Jordan, Bahrain, Lebanon, and Qatar. Demand in the region exceeded forecasts.
Strategic Shift in Business Model
Vivos pivoted its business model to partner with or acquire sleep testing clinics, aiming to be involved in the treatment decision process for OSA patients, which is expected to significantly increase revenue.
FDA Clearance for Severe OSA Treatment
FDA clearance was received for Vivos appliances to treat severe OSA, expanding their treatment capabilities and market credibility.
Significant Financial Backing
Raised approximately $17.9 million through multiple equity transactions, including a $7.5 million investment from New Seneca Partners.
High Conversion Rate in Pilot Programs
Pilot testing showed a 70% conversion rate of OSA patients to Vivos treatments, with an average revenue of $4,500 per case and contribution margins of up to 50%.