InvestorWire NewsRoom

InvestorNewsBreak

InvestorNewsBreaks – Vivos Therapeutics Inc. (NASDAQ: VVOS) Announces Update on Revenue Recognition Review
November 22, 2022

InvestorNewsBreaks – Vivos Therapeutics Inc. (NASDAQ: VVOS) Announces Update on Revenue Recognition Review

Vivos Therapeutics (NASDAQ: VVOS) is a medical technology company focused on developing innovative treatments for patients suffering from dentofacial abnormalities and/or mild-to-moderate obstructive sleep apnea (“OSA”) and snoring in adults. The company today provided an update on its review of its revenue recognition policies and the expected timing for the release of its second and third quarter 2022 financial results. According to the update, the company expects it will restate its first quarter 2022 revenue to reflect an increase of approximately $200,000. In addition, management’s analysis has concluded no previously reported revenue will be lost; rather the timing for recognizing revenue and the classification between product and service revenue requires modification in order to be compliant with ASC 606. Importantly, Vivos’ management has concluded that no restatement of any kind is required to any of the company’s prior audited annual financial statements. “We are pleased to have this analysis behind us, and even more pleased the net effect on our previously reported financial results was minimal,” said Kirk Huntsman, chairman and CEO of Vivos. “While this matter was pending, we were unfortunately unable to report on any of the rather significant and important progress being made at Vivos. Our team is working expeditiously to complete our restated first quarter as well as our second and third quarter 2022 10-Q filings. We do not expect any further delays and plan to complete this process quickly with respect to the first quarter and by no later than year-end for the second and third quarter reports.”

To view the full press release, visit https://ibn.fm/bFBmf

About Vivos Therapeutics Inc.

Vivos Therapeutics 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 mild-to-moderate obstructive sleep apnea (“OSA”) and snoring in adults. The Vivos Method represents the first clinically effective nonsurgical, noninvasive, nonpharmaceutical and cost-effective solution. It has proven effective in approximately 28,000 patients treated worldwide by more than 1,600 trained dentists. The Vivos Method includes the Vivos Complete Airway Repositioning and/or Expansion (“CARE”) appliance therapy and associated protocols that alter the size, shape and position of the 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-moderate OSA, 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. For more information, visit www.Vivos.com.

NOTE TO INVESTORS: The latest news and updates relating to VVOS are available in the company’s newsroom at http://ibn.fm/VVOS

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.

As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.

For more information, please visit https://www.investorwire.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer

InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.investorwire.com
[email protected]

InvestorWire is part of the InvestorBrandNetwork.

Recent NewsBreaks

NewsBreaks Categories

Get Started with InvestorWire

To distribute a release in the next 24 hours. Contact our client services team.

(310) 299-1717

Distribute a press release. Submit your release to get started.

Submit Press Release

Set up a Live demonstration. Schedule a date and time that works for you.

Schedule a LIVE Demo

Press Distribution

Explore Press Distribution Solutions

All releases include an unlimited word count* with full wire-grade syndication, our press release enhancement service, and a follow-up InvestorNewsBreak article distributed to thousands of editorial syndication partners.

Discover Add-on Solutions

Increase the impact of your achievements by adding these exclusive solutions from InvestorWire, delivered in conjunction with the InvestorBrandNetwork (IBN).