Vivos Therapeutics Reports Full Year 2024 Financial Results and Provides Operational Update
Vivos Therapeutics (NASDAQ: VVOS) reported strong financial results for full year 2024, with revenue increasing 9% to $15.0 million from $13.8 million in 2023. Product revenue grew 26% year-over-year, while operating expenses decreased 21% to $20.2 million.
The company maintained a 60% gross margin, with gross profit reaching $9.0 million. Operating loss decreased significantly by 35% to $11.2 million. Cash position stood at $6.3 million after raising $17.9 million through equity transactions in 2024.
Notable achievements include FDA 510(k) clearance for the DNA appliance to treat moderate to severe OSA in children ages 6-17, complementing their 2023 clearance for adult treatment. Patient treatments increased to 58,000 worldwide, up from 42,000 in 2023. The company implemented a strategic pivot towards contractual, profit-sharing alliances with sleep healthcare providers, starting with Rebis Health Holdings, expecting to increase revenue per case by 4-6 times with 50% contribution margins.
Vivos Therapeutics (NASDAQ: VVOS) ha riportato risultati finanziari solidi per l'intero anno 2024, con un aumento del fatturato del 9% a 15,0 milioni di dollari, rispetto ai 13,8 milioni di dollari del 2023. Il fatturato dei prodotti è cresciuto del 26% rispetto all'anno precedente, mentre le spese operative sono diminuite del 21% a 20,2 milioni di dollari.
L'azienda ha mantenuto un margine lordo del 60%, con un utile lordo che ha raggiunto i 9,0 milioni di dollari. La perdita operativa è diminuita significativamente del 35% a 11,2 milioni di dollari. La posizione di cassa si è attestata a 6,3 milioni di dollari dopo aver raccolto 17,9 milioni di dollari tramite transazioni azionarie nel 2024.
Tra i risultati notevoli c'è il nulla osta 510(k) della FDA per il dispositivo DNA per trattare l'OSA da moderata a grave nei bambini di età compresa tra 6 e 17 anni, che completa il nulla osta del 2023 per il trattamento degli adulti. I trattamenti per i pazienti sono aumentati a 58.000 in tutto il mondo, rispetto ai 42.000 del 2023. L'azienda ha attuato un cambiamento strategico verso alleanze contrattuali e di condivisione dei profitti con fornitori di assistenza sanitaria per il sonno, iniziando con Rebis Health Holdings, prevedendo di aumentare il fatturato per caso di 4-6 volte con margini di contribuzione del 50%.
Vivos Therapeutics (NASDAQ: VVOS) reportó resultados financieros sólidos para el año completo 2024, con un aumento de ingresos del 9% a $15.0 millones, en comparación con $13.8 millones en 2023. Los ingresos por productos crecieron un 26% interanual, mientras que los gastos operativos disminuyeron un 21% a $20.2 millones.
La empresa mantuvo un margen bruto del 60%, con una ganancia bruta que alcanzó los $9.0 millones. La pérdida operativa disminuyó significativamente en un 35% a $11.2 millones. La posición de efectivo se situó en $6.3 millones tras recaudar $17.9 millones a través de transacciones de capital en 2024.
Logros notables incluyen la autorización 510(k) de la FDA para el dispositivo DNA para tratar la OSA moderada a severa en niños de 6 a 17 años, complementando su autorización de 2023 para el tratamiento de adultos. Los tratamientos para pacientes aumentaron a 58,000 en todo el mundo, frente a los 42,000 en 2023. La empresa implementó un cambio estratégico hacia alianzas contractuales y de reparto de beneficios con proveedores de salud del sueño, comenzando con Rebis Health Holdings, esperando aumentar los ingresos por caso entre 4 y 6 veces con márgenes de contribución del 50%.
비보스 테라퓨틱스 (NASDAQ: VVOS)는 2024년 전체 연도에 대한 강력한 재무 결과를 보고했으며, 수익이 2023년 1,380만 달러에서 1,500만 달러로 9% 증가했습니다. 제품 수익은 전년 대비 26% 증가했으며, 운영 비용은 21% 감소하여 2,020만 달러에 달했습니다.
회사는 60%의 총 이익률을 유지했으며, 총 이익은 900만 달러에 도달했습니다. 운영 손실은 35% 크게 감소하여 1,120만 달러에 이르렀습니다. 현금 보유액은 2024년 자본 거래를 통해 1,790만 달러를 모금한 후 630만 달러로 나타났습니다.
주목할 만한 성과로는 FDA 510(k) 승인이 있으며, 이는 6세에서 17세 아동의 중등도에서 중증 OSA 치료를 위한 DNA 장치에 대한 것입니다. 이는 성인 치료를 위한 2023년 승인과 보완됩니다. 환자 치료는 2023년 42,000건에서 전 세계적으로 58,000건으로 증가했습니다. 회사는 수면 건강 관리 제공업체인 Rebis Health Holdings와의 계약적 이익 공유 동맹으로 전략적 전환을 시행했으며, 케이스당 수익을 4-6배 증가시키고 50%의 기여 마진을 기대하고 있습니다.
Vivos Therapeutics (NASDAQ: VVOS) a rapporté de solides résultats financiers pour l'année complète 2024, avec une augmentation du chiffre d'affaires de 9 % à 15,0 millions de dollars, contre 13,8 millions de dollars en 2023. Les revenus produits ont augmenté de 26 % d'une année sur l'autre, tandis que les dépenses d'exploitation ont diminué de 21 % à 20,2 millions de dollars.
L'entreprise a maintenu une marge brute de 60 %, avec un bénéfice brut atteignant 9,0 millions de dollars. La perte d'exploitation a diminué de manière significative de 35 % à 11,2 millions de dollars. La position de trésorerie s'élevait à 6,3 millions de dollars après avoir levé 17,9 millions de dollars par le biais de transactions en capital en 2024.
Parmi les réalisations notables, on trouve l'approbation 510(k) de la FDA pour l'appareil DNA destiné à traiter l'OSA modérée à sévère chez les enfants âgés de 6 à 17 ans, complétant leur approbation de 2023 pour le traitement des adultes. Les traitements des patients ont augmenté à 58 000 dans le monde, contre 42 000 en 2023. L'entreprise a mis en œuvre un pivot stratégique vers des alliances contractuelles de partage des bénéfices avec des prestataires de soins de santé du sommeil, en commençant par Rebis Health Holdings, s'attendant à augmenter les revenus par cas de 4 à 6 fois avec des marges de contribution de 50 %.
Vivos Therapeutics (NASDAQ: VVOS) berichtete über starke finanzielle Ergebnisse für das Gesamtjahr 2024, mit einem Umsatzanstieg von 9% auf 15,0 Millionen Dollar im Vergleich zu 13,8 Millionen Dollar im Jahr 2023. Der Produktumsatz stieg im Jahresvergleich um 26%, während die Betriebskosten um 21% auf 20,2 Millionen Dollar sanken.
Das Unternehmen hielt eine Bruttomarge von 60%, mit einem Bruttogewinn von 9,0 Millionen Dollar. Der operative Verlust verringerte sich signifikant um 35% auf 11,2 Millionen Dollar. Die Liquiditätsposition belief sich auf 6,3 Millionen Dollar, nachdem 2024 über Aktiengeschäfte 17,9 Millionen Dollar gesammelt wurden.
Zu den bemerkenswerten Erfolgen gehört die FDA 510(k) Genehmigung für das DNA-Gerät zur Behandlung von moderater bis schwerer OSA bei Kindern im Alter von 6 bis 17 Jahren, die die Genehmigung von 2023 für die Behandlung von Erwachsenen ergänzt. Die Patientenbehandlungen stiegen weltweit auf 58.000, gegenüber 42.000 im Jahr 2023. Das Unternehmen implementierte einen strategischen Pivot hin zu vertraglichen, gewinnbeteiligenden Allianzen mit Anbietern von Schlafgesundheitsdiensten, beginnend mit Rebis Health Holdings, und erwartet, den Umsatz pro Fall um das 4- bis 6-fache mit einer Gewinnmarge von 50% zu steigern.
- Revenue increased 9% to $15.0 million with 26% growth in product revenue
- Operating expenses reduced by 21% to $20.2 million
- Operating loss decreased by 35% to $11.2 million
- Received FDA clearance for pediatric OSA treatment
- Patient treatments increased by 38% to 58,000
- Raised $17.9 million through equity transactions
- New alliance model showing 70% patient conversion rate
- Still operating at a loss of $11.2 million
- Decreased revenue from VIP enrollments
- Multiple equity raises may lead to dilution
Insights
Vivos Therapeutics' 2024 financial results show clear operational improvements while maintaining top-line growth. Revenue increased
The company's strategic pivot from their VIP model to profit-sharing alliances with sleep healthcare providers represents a potentially transformative business model evolution. Their partnership with Rebis Health demonstrates early implementation of this strategy, which management claims could increase per-case revenue by 4-6 times with
While still operating at a loss, Vivos has successfully strengthened its financial position by raising
The company's FDA clearances for OSA treatment in both adults and children ages 6-17 provide regulatory validation and competitive differentiation. With approximately 58,000 patients treated globally and over 2,000 trained dentists, Vivos has established meaningful market presence while positioning themselves for potential profitability through their restructured business approach.
Year over year product revenue increased
Operating expenses declined
Management to Host Conference Call today at 5:00 pm ET
LITTLETON, Colo., March 31, 2025 (GLOBE NEWSWIRE) -- Vivos Therapeutics, Inc. (“Vivos” or the “Company’’) (NASDAQ: VVOS), a leading medical device and technology company specializing in the development and commercialization of highly effective proprietary treatments for sleep related breathing disorders (including all severities of obstructive sleep apnea (OSA in adults) and moderate to severe OSA in children ages 6 - 17), today reported financial results and operating highlights for the full year ended December 31, 2024.
Full Year 2024 Financial and Operating Summary
- Revenue increased approximately
$1.2 million , or9% , to$15.0 million for the full year ended December 31, 2024, compared to$13.8 million for the year ended December 31, 2023. The increase in revenue was mainly due to higher product revenue offset by decreased revenue from fewer Vivos Integrated Practice (VIP) enrollments, which decrease occurred as part of Vivos’ change in marketing and sales strategy during the year to focus on provider-based alliances; - Gross profit was
$9.0 million for the full year ended December 31, 2024 compared with$8.3 million for the full year ended December 31, 2023, attributable to the increase in revenue; - Gross margin remained at
60% for both years ended December 31, 2024 and 2023; - Operating expenses for the full year ended December 31, 2024 decreased by
$5.4 million or21% to$20.2 million , compared to the full year 2023, reflecting Vivos’ continued cost-cutting initiatives including personnel and related expenses; - Vivos’ revenue increase and cost-cutting initiatives led to a significant year-over-year reduction in operating loss of
$6.1 million , or a35% reduction year over year, to$11.2 million from$17.3 million in 2023; - Cash and cash equivalents were
$6.3 million at December 31, 2024 as Vivos raised approximately$17.9 million through four separate equity transactions during 2024; - As of December 31, 2024, patients treated with Vivos’ patented oral appliances totaled approximately 58,000 worldwide, compared to over 42,000 as of the end of 2023. Vivos has also trained more than 2,000 dentists in the use of The Vivos Method and Vivos’ related value-added services;
- In September 2024, Vivos was granted 510(k) clearance from the U.S. Food and Drug Administration (“FDA”) for the DNA appliance to treat moderate to severe OSA in children ages 6 to 17 who also have malocclusions that may require orthodontics. The DNA appliance remains the only oral appliance of any kind that has been FDA cleared to treat children with OSA. The 2024 clearance complements Vivos’ 2023 FDA clearance to treat moderate and severe OSA in adults, 18 years of age and older.
Kirk Huntsman, Vivos’ Chairman and Chief Executive Officer, stated, “In 2024, we increased revenue while continuing to lower our cost structure. We continued to receive FDA approvals on our products and position ourselves for long-term revenue growth. In 2024, we reduced operating expenses by
“Importantly, this positive financial performance helped lay the foundation for the critical pivot we made during 2024 to a new marketing and distribution strategy for our cutting-edge OSA appliances away from our legacy VIP model and towards a model focused on contractual, profit-sharing alliances with sleep healthcare providers,” Mr. Huntsman continued. “This pivot was launched by our execution in June of a strategic marketing and distribution alliance with Rebis Health Holdings, LLC (“Rebis”), an operator of multiple sleep testing and treatment centers in Colorado. We expect this initial alliance will be the first of a series of similar alliances and potential acquisitions of sleep healthcare providers across the country, which we will use to drive sales of our novel appliances and services. Under the new alliance model, we are collaborating with Rebis to offer OSA patients a full spectrum of evidence-based treatments such as our own advanced, proprietary and FDA-cleared CARE oral medical devices, oral appliances and additional adjunctive therapies and other methods, including CPAP treatment. The program commenced in August of 2024 in the Longmont office of Rebis and has since expanded to two additional locations. We believe the advantages of this new strategic marketing and distribution model are compelling.
- First, it provides Vivos-trained providers direct access to far more OSA patients who are likely candidates for OSA treatment with our method. As we roll out this new model going forward, potentially thousands of patients each month could be introduced to Vivos treatment options.
- Second, we expect to close (meaning convincing the patient to start) more OSA treatment cases using Vivos-trained personnel. In our pilot testing, which we conducted at over 45 separate locations around the United States during 2023 and 2024, our Vivos-trained personnel were able to consistently close over
70% of patients into some form of Vivos treatment. These figures were relatively consistent across diverse demographic and economic patient profiles and geographies. - Third, top line revenue and profit per case are expected to rise. We project that each patient who signs up for Vivos treatment represents a potential increase to Vivos top line revenue with contribution margins of approximately
50% . This significantly alters the economics to Vivos, when compared to our prior model, increasing top-line revenues per case start by approximately 4-6 times.
In summary, under our new model, we expect to present Vivos treatments to more patients, refer a higher percentage of cases into Vivos treatment, and potentially generate more revenue and profit per case. Moreover, our first of its kind FDA clearance to treat mild to severe OSA in adults and moderate to severe OSA in children ages 6 - 17 has provided the credibility for sleep centers and medical doctors to recommend Vivos oral medical devices to their patients.”
“Finally, we took actions in 2024 to strengthen our capital structure and improve our liquidity. During the year, we raised approximately
Vivos encourages investors and other interested parties to join its conference call today at 5:00 p.m. Eastern time (details below), where management will discuss further details on topics including Vivos’ strategic collaborations and the anticipated effect on Vivos’ near-term revenue growth and cash burn.
In addition, further information on Vivos’ financial results is included on the attached condensed consolidated balance sheets and statements of operations, and additional explanations of Vivos’ financial performance are provided in the Vivos’ Annual Report on Form 10-K for the twelve months ended December 31, 2024, which will be filed with the Securities and Exchange Commission (“SEC”). The full 10-K report will be available on the SEC Filings section of the Investor Relations section of Vivos’ website at https://vivos.com/investor-relations.
Conference Call
To access Vivos’ investor conference call, please dial (800) 717-1738, or for international callers, (646) 307-1865. A replay will be available shortly after the call and can be accessed by dialing (844) 512-2921, or for international callers, (412) 317-6671. The passcode for the replay is 1103883. The replay will be available until April 14, 2025.
A live webcast of the conference call can be accessed on Vivos’ website at https://vivos.com/investor-relations. An online archive of the webcast will be available on the Company’s website for 30 days following the call.
About Vivos Therapeutics, Inc.
Vivos Therapeutics, Inc. (NASDAQ: VVOS) is a medical technology company focused on developing and commercializing innovative diagnostic and treatment methods for patients suffering from breathing and sleep issues arising from certain dentofacial abnormalities such as obstructive sleep apnea (OSA) and snoring in adults and moderate to severe OSA in children ages 6 – 17. The Vivos Method represents the first clinically effective nonsurgical, noninvasive, nonpharmaceutical and cost-effective solution for treating mild to severe OSA in adults and moderate to severe OSA in children ages 6-17. It has proven effective in approximately 58,000 patients treated worldwide by more than 2,000 trained dentists.
The Vivos Method includes treatment regimens that employ proprietary CARE appliance therapy and other modalities that alter the size, shape and position of the jaw and soft tissues that comprise a patient’s upper airway and/or palate. The Vivos Method opens airway space and may significantly reduce symptoms and conditions associated with mild-to-severe OSA in adults and moderate-to-severe OSA in children ages 6 to 17, such as lowering Apnea Hypopnea Index scores. Vivos also markets and distributes SleepImage diagnostic technology under its VivoScore program for home sleep testing in adults and children. The Vivos Integrated Practice (VIP) program offers dentists training and other value-added services in connection with using The Vivos Method. Vivos also employs a marketing and distribution model where it collaborates with sleep-treatment providers to offer patients OSA treatment options and help promote sales of its appliances.
For more information, visit www.vivos.com.
Cautionary Note Regarding Forward-Looking Statements
This press release, the conference call referred to herein, and statements of the Company’s management made in connection therewith contain “forward-looking statements” (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events. Words such as “may”, “should”, “expects”, “projects,” “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates”, “goal” and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve significant known and unknown risks and are based upon several assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond Vivos’ control. Actual results (including the actual future impact of the initiatives and corporate achievements described herein on Vivos’ future revenues and results of operations and the anticipated benefits of the Company’s new marketing and distribution model described herein) may differ materially and adversely from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to: (i) the risk that Vivos may be unable to implement revenue, sales and marketing strategies and other strategies that increase revenues, (ii) the risk that some patients may not achieve the desired results from using Vivos products, (iii) risks associated with regulatory scrutiny of and adverse publicity in the sleep apnea treatment sector; (iv) the risk that Vivos may be unable to secure additional financings on reasonable terms when needed, if at all, or maintain its Nasdaq listing (v) market and other conditions, and (vi) other risk factors described in Vivos’ filings with the Securities and Exchange Commission (“SEC”). Vivos’ filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, Vivos expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Vivos’ expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based.
Vivos Investor Relations and Media Contact:
Bradford Amman
Chief Financial Officer and Investor Relations Contact
investors@vivoslife.com
-Tables Follow-
| VIVOS THERAPEUTICS INC. Consolidated Balance Sheets December 31, 2024 and 2023 (In Thousands, Except Per Share Amounts) | |||||||
| 2024 | 2023 | ||||||
| Current assets | |||||||
| Cash and cash equivalents | $ | 6,260 | $ | 1,643 | |||
| Accounts receivable, net of allowance of | 430 | 202 | |||||
| Prepaid expenses and other current assets | 783 | 616 | |||||
| Total current assets | 7,473 | 2,461 | |||||
| Long-term assets | |||||||
| Goodwill | 2,843 | 2,843 | |||||
| Property and equipment, net | 3,350 | 3,314 | |||||
| Operating lease right-of-use asset | 1,032 | 1,385 | |||||
| Intangible assets, net | 370 | 420 | |||||
| Deposits and other | 216 | 307 | |||||
| Total assets | $ | 15,284 | $ | 10,730 | |||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
| Current liabilities | |||||||
| Accounts payable | $ | 1,098 | $ | 2,145 | |||
| Accrued expenses | 2,234 | 2,334 | |||||
| Current portion of contract liabilities | 896 | 2,138 | |||||
| Current portion of operating lease liability | 477 | 474 | |||||
| Other current liabilities | 273 | 198 | |||||
| Total current liabilities | 4,978 | 7,289 | |||||
| Long-term liabilities | |||||||
| Contract liabilities, net of current portion | 97 | 289 | |||||
| Employee retention credit liability | 1,220 | 1,220 | |||||
| Operating lease liability, net of current portion | 1,035 | 1,521 | |||||
| Total liabilities | 7,330 | 10,319 | |||||
| Commitments and contingencies | |||||||
| Stockholders’ equity | |||||||
| Preferred Stock, | - | - | |||||
| Common Stock, | - | - | |||||
| Additional paid-in capital | 112,141 | 93,462 | |||||
| Accumulated deficit | (104,187 | ) | (93,051 | ) | |||
| Total stockholders’ equity | 7,954 | 411 | |||||
| Total liabilities and stockholders’ equity | $ | 15,284 | $ | 10,730 | |||
| VIVOS THERAPEUTICS INC. Consolidated Statements of Operations Years Ended December 31, 2024 and 2023 (In Thousands, Except Per Share Amounts) | |||||||
| 2024 | 2023 | ||||||
| Revenue | |||||||
| Product revenue | $ | 7,874 | $ | 6,270 | |||
| Service revenue | 7,157 | 7,531 | |||||
| Total revenue | 15,031 | 13,801 | |||||
| Cost of sales (exclusive of depreciation and amortization shown separately below) | 6,012 | 5,530 | |||||
| Gross profit | 9,019 | 8,271 | |||||
| Operating expenses | |||||||
| General and administrative | 17,878 | 22,479 | |||||
| Sales and marketing | 1,731 | 2,467 | |||||
| Depreciation and amortization | 581 | 621 | |||||
| Total operating expenses | 20,190 | 25,567 | |||||
| Operating loss | (11,171 | ) | (17,296 | ) | |||
| Non-operating income (expense) | |||||||
| Other expense | (110 | ) | (212 | ) | |||
| Excess warrant fair value | - | (6,453 | ) | ||||
| Change in fair value of warrant liability, net of issuance costs of | - | 10,231 | |||||
| Other income | 145 | 147 | |||||
| Loss before income taxes | (11,136 | ) | (13,583 | ) | |||
| Net loss | $ | (11,136 | ) | $ | (13,583 | ) | |
| Net loss per share (basic and diluted) | $ | (2.22 | ) | $ | (11.14 | ) | |
| Weighted average number of shares of Common Stock outstanding (basic and diluted) | 5,019,886 | 1,219,381 | |||||
FAQ
What was VVOS's revenue growth in 2024?
How much did VVOS reduce its operating loss in 2024?
What new FDA clearance did VVOS receive in September 2024?
How many patients have been treated with VVOS appliances as of December 2024?
What is VVOS's new strategic alliance model expected to achieve?
