Vivos Therapeutics Reports Full Year 2025 Financial Results
Rhea-AI Summary
Vivos Therapeutics (NASDAQ: VVOS) reported full year 2025 revenue of $17.5 million, up 16% from 2024, driven by sleep testing services and the June 2025 acquisition of The Sleep Center of Nevada (SCN). Gross profit rose to $10.5 million with a 60% gross margin. Operating loss widened to $19.9 million on higher operating expenses of $30.4 million. Cash was $2.0 million at year-end, later supplemented by $6.8 million in post-year financings. Management cited a strategic pivot to acquisitions and alliances and will host a conference call on April 15, 2026.
Positive
- Revenue +16% YoY to $17.5 million for 2025
- Gross profit +17% YoY to $10.5 million with 60% gross margin
- Acquired SCN (June 2025) expanding sleep testing and OSA treatment footprint
- $6.8M post-year financing bolstering capital after $2.0M year-end cash
Negative
- Operating expenses increased to $30.4M, up from $20.2M in 2024
- Operating loss widened to $19.9M in 2025 from $11.2M in 2024
- Year-end cash of $2.0M reflects near-term liquidity pressure before financings
News Market Reaction – VVOS
On the day this news was published, VVOS declined 25.85%, reflecting a significant negative market reaction. Argus tracked a peak move of +21.1% during that session. Argus tracked a trough of -14.3% from its starting point during tracking. Our momentum scanner triggered 30 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $7M from the company's valuation, bringing the market cap to $18.68M at that time. Trading volume was elevated at 2.8x the daily average, suggesting increased selling activity.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Aug 19 | Q2 2025 earnings | Neutral | -3.3% | Reported Q2 2025 results and SCN acquisition-driven pivot in business model. |
| May 15 | Q1 2025 earnings | Negative | -17.0% | Q1 2025 revenue declined, net loss widened slightly during transition phase. |
| Mar 31 | FY 2024 earnings | Positive | -7.7% | Full-year 2024 showed 9% revenue growth, 60% margin and lower operating loss. |
| Nov 14 | Q3 2024 earnings | Positive | -9.0% | Q3 2024 revenue rose 17% with 60% margins and lower operating expenses. |
| Aug 14 | Q2 2024 earnings | Positive | -5.1% | Q2 2024 delivered 19% revenue growth, higher margins and reduced operating loss. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings releases have often coincided with negative price reactions, even when reporting revenue growth and margin stability (average move -8.41%).
Across the last five earnings releases from Aug 2024 to Aug 2025, Vivos reported recurring revenue growth periods, stable or improving gross margins, and a strategic pivot toward sleep practice management, including acquisition of The Sleep Center of Nevada. However, operating expenses and losses remained elevated. Despite several fundamentally positive updates, shares typically traded lower following these reports, suggesting a pattern of market skepticism toward financial results and the evolving business model that forms the backdrop for today’s full-year 2025 update.
Key Terms
obstructive sleep apnea medical
osa medical
form 10-k regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
Full Year 2025 revenue increased
Integration of The Sleep Center of Nevada and shift in business model support path to improved revenues, margins and cash flow
Management to Host Conference Call today at 5:00 pm ET
LITTLETON, Colo., April 15, 2026 (GLOBE NEWSWIRE) -- Vivos Therapeutics, Inc. (“Vivos” or the “Company’’) (NASDAQ: VVOS), a leading medical device and healthcare services company focused on the treatment of breathing-related sleep disorders and associated chronic health conditions, including obstructive sleep apnea (“OSA”), today reported financial results and operating highlights for the full year ended December 31, 2025.
Full Year 2025 Financial and Operating Summary
- Revenue was
$17.5 million for the year ended December 31, 2025, compared to$15.0 million for the full year ended December 31, 2024, a year over year increase of16% . The increase in revenue was mainly due to an increase in sleep testing services and an increase in revenue from the treatment of OSA patients at two Nevada locations of The Sleep Center of Nevada (SCN), both offset by the expected wind down of Vivos Integrated Practice (VIP) enrollment revenue. Vivos acquired the operating assets of SCN in June 2025; - Gross profit was
$10.5 million for the year ended December 31, 2025 compared with$9.0 million for the full year ended December 31, 2024, an increase of17% ; - Gross margin remained at
60% for the years ended December 31, 2025 and December 31, 2024; - Operating expenses for the year ended December 31, 2025 was
$30.4 million , compared to$20.2 million for the year ended December 31, 2024, the increase relating in part to costs associated with integrating and managing SCN operations and related OSA treatment centers; - Vivos’ acquisition of the operating assets of SCN and investments in that business resulted in an operating loss of
$19.9 million for the full year ended December 31, 2025, versus a loss of$11.2 million for the year ended December 31, 2024; - Cash and cash equivalents were
$2.0 million as of December 31, 2025, and Vivos’ cash position was augmented subsequent to year end by two financing transactions for aggregate gross proceeds of$6.8 million .
Vivos’ 2025 results of operations reflect its continued pivot in business strategy and steady decrease in its prior focus on enrolling and training VIP dentists to sell Vivos’ proprietary OSA treatments. Vivos’ new business strategy is focused on contractual alliances with and outright acquisitions of sleep specialty medical providers, sleep testing centers and other similar entities.
Kirk Huntsman, Vivos’ Chairman and Chief Executive Officer, stated “2025 was a pivotal year for Vivos. We grew full-year revenue by
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 initiatives 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, 2025, which was filed today 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/investors/.
Conference Call
To access Vivos’ investor conference call, please dial (800) 717-1738 or (646) 307-1865 for international callers. A replay will be available shortly after the call and can be accessed by dialing (844) 512-2921 or (412) 317-6671 for international callers. The passcode for the replay is 1153783. The replay will be available until April 29, 2026
A live webcast of the conference call is available on Vivos’ website at https://vivos.com/investors/. 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 and healthcare services 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. Vivos’ devices have been cleared by the U.S. Food and Drug Administration (FDA) for adult patients diagnosed with all severity levels of OSA and moderate-to-severe OSA in children ages 6 to 17. Vivos’ groundbreaking Complete Airway Repositioning and Expansion (CARE) devices are the only FDA 510(k) cleared technology for treating severe OSA in adults and the first to receive clearance for treating moderate to severe OSA in children.
OSA affects over 1 billion people worldwide, yet
Founded in 2016 and based in Littleton, Colorado, Vivos is working to change this. Through innovative technology, education, and acquisitions of, or commercial collaborations with, sleep healthcare providers, Vivos is empowering healthcare providers to address the complex needs of OSA patients more thoroughly.
Vivos calls the use of its appliances and protocols to treat OSA The Vivos Method, which offers a proprietary, clinically effective solution that is nonsurgical, noninvasive, and nonpharmaceutical, providing hope to allow patients to Breathe New Life.
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 due to, among other things, a deficiency in its stockholders’ equity; (v) market and other conditions, and (vi) other risk factors described in Vivos’ filings with the 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, 2025 and 2024 (In Thousands, Except Per Share Amounts) | ||||||||
| 2025 | 2024 | |||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 2,029 | $ | 6,260 | ||||
| Accounts receivable, net of allowance of | 1,581 | 430 | ||||||
| Prepaid expenses and other current assets | 774 | 783 | ||||||
| Total current assets | 4,384 | 7,473 | ||||||
| Long-term assets | ||||||||
| Goodwill | 8,572 | 2,843 | ||||||
| Property and equipment, net | 3,757 | 3,311 | ||||||
| Operating lease right-of-use asset | 4,166 | 1,032 | ||||||
| Intangible assets, net | 4,045 | 409 | ||||||
| Deposits and other | 228 | 216 | ||||||
| Total assets | $ | 25,152 | $ | 15,284 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY/(DEFICIT) | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 1,679 | $ | 1,098 | ||||
| Accrued expenses | 5,988 | 2,234 | ||||||
| Current portion of contract liabilities | 479 | 896 | ||||||
| Current portion of operating lease liability | 672 | 477 | ||||||
| Current portion of financing lease liability | 55 | - | ||||||
| Current portion of debt | 8,353 | - | ||||||
| Other current liabilities | 850 | 273 | ||||||
| Total current liabilities | 18,076 | 4,978 | ||||||
| Long-term liabilities | ||||||||
| Contract liabilities, net of current portion | - | 97 | ||||||
| Employee retention credit liability | 2,904 | 1,220 | ||||||
| Operating lease liability, net of current portion | 3,840 | 1,035 | ||||||
| Financing lease liability, net of current portion | 113 | - | ||||||
| Debt, net of current portion | 469 | - | ||||||
| Other liabilities | 1,300 | - | ||||||
| Total liabilities | 26,702 | 7,330 | ||||||
| Commitments and contingencies | - | - | ||||||
| Stockholders’ equity/(deficit) | ||||||||
| Preferred Stock, | - | - | ||||||
| Common Stock, | 1 | - | ||||||
| Additional paid-in capital | 123,866 | 112,141 | ||||||
| Accumulated deficit | (125,357 | ) | (104,187 | ) | ||||
| Total stockholders’ equity/(deficit) | (1,490 | ) | 7,954 | |||||
| Non-controlling interest | 60 | - | ||||||
| Total equity/(deficit) | (1,550 | ) | 7,954 | |||||
| Total liabilities and equity/(deficit) | $ | 25,152 | $ | 15,284 | ||||
| VIVOS THERAPEUTICS, INC. Consolidated Statements of Operations Years Ended December 31, 2025 and 2024 (In Thousands, Except Per Share Amounts) | ||||||||
| 2025 | 2024 | |||||||
| Revenue | ||||||||
| Product revenue | $ | 6,487 | $ | 7,874 | ||||
| Service revenue | 10,956 | 7,157 | ||||||
| Total revenue | 17,443 | 15,031 | ||||||
| Cost of sales (exclusive of depreciation and amortization shown separately below) | 6,901 | 6,012 | ||||||
| Gross profit | 10,542 | 9,019 | ||||||
| Operating expenses | ||||||||
| General and administrative | 27,727 | 17,878 | ||||||
| Sales and marketing | 1,400 | 1,731 | ||||||
| Depreciation and amortization | 1,309 | 581 | ||||||
| Total operating expenses | 30,436 | 20,190 | ||||||
| Operating loss | (19,894 | ) | (11,171 | ) | ||||
| Non-operating income (expense) | ||||||||
| Other expense | (1,481 | ) | (110 | ) | ||||
| Other income | 145 | 145 | ||||||
| Loss before income taxes | (21,230 | ) | (11,136 | ) | ||||
| Net loss | $ | (21,230 | ) | $ | (11,136 | ) | ||
| Net loss attributable to non-controlling interest | (60 | ) | - | |||||
| Net loss attributable to stockholders | $ | (21,170 | ) | $ | (11,136 | ) | ||
| Net loss per share (basic and diluted) | $ | (2.07 | ) | $ | (2.22 | ) | ||
| Weighted average number of shares of Common Stock outstanding (basic and diluted) | 10,273,881 | 5,019,886 | ||||||
