Vivos Therapeutics (NASDAQ: VVOS), a medical technology company focused on developing and commercializing innovative diagnostic and treatment modalities for patients suffering from sleep-disordered breathing, including mild-to-moderate obstructive sleep apnea (“OSA”), has announced its most recent financial report, along with operational highlights for the second quarter, the period ended June 20, 2021. In part, the report noted that second-quarter revenue totaled $4.5 million, an increase of more than 37% year over year, and 30% over the first quarter 2021; revenue for the first half of 2021 totaled $7.9 million. Gross profit for second quarter was $3.6 million with gross margin 81% for the second quarter, both increases over the same quarter the previous year. The report also noted cash and cash equivalents for the company were $34.2 million. Business highlights included 19,000 total patients being treated with the Vivos system; the appointment of Mimi Guarneri, MD, FACC, as an independent consultant serving as medical director of clinical education; and Vivos founder and chief medical officer Dr. G. Dave Singh, DMD, PhD, DDSc, publishing a book, titled “Pneumopedics and Craniofacial Epigenetics,” to help doctors and dentists better address underlying craniofacial conditions that affect a patient’s overall airway, breathing and sleep health. “There are a number of key positive takeaways from our second quarter results,” said Vivos chair and CEO R. Kirk Huntsman in the press release. “First, we achieved strong revenue results ahead of our internal forecasts and analysts’ estimates, although the year-over-year comparisons are somewhat augmented due to the impact of COVID last year. Second, we have continued to focus on strategic sales and marketing initiatives, designed to introduce more healthcare and dental professionals to the benefits of the Vivos System. . . . Third, in addition to our core business of enrolling new VIPs and increasing sales of appliances, we have begun to see revenue from other sources we have implemented, including from our recently launched MyoCorrect orofacial myofunctional therapy service and the beginnings of management fee revenue from our Medical Integration Division as well as some revenue from VivoScore, which we view principally as a marketing tool. . . . Fourth, we have recently begun an active outreach to the DSO industry. DSOs, or Dental Support Organizations, own and operate thousands of dental practices throughout the U.S. and Canada.”
To view the full press release, visit https://ibn.fm/s8ygC
About Vivos Therapeutics Inc.
Vivos Therapeutics is a medical technology company focused on developing and commercializing innovative diagnostic and treatment modalities for adult patients suffering from sleep-disordered breathing, including obstructive sleep apnea (“OSA”). The Vivos treatment for mild-to-moderate OSA involves a customized oral appliance and protocols called the Vivos System. Vivos believes that its Vivos System oral appliance technology represents the first clinically effective, nonsurgical, noninvasive, nonpharmaceutical and cost-effective solution for people with mild-to-moderate OSA. Vivos also sells orthodontic appliances for adults and children. Vivos’ oral appliances have proven effective for more than 19,000 patients worldwide by more than 1,250 dentists. Combining technologies and protocols that alter the size, shape and position of the tissues of a patient’s upper airway, the Vivos System 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 VivosScore, powered by the SleepImage diagnostic technology for home sleep testing in adults and children. The Vivos Integrated Practice (“VIP”) program offers dentist training and other value-added services in connection with using the Vivos System. For more information about this company, visit www.VivosLife.com.
NOTE TO INVESTORS: The latest news and updates relating to VVOS are available in the company’s newsroom at http://ibn.fm/VVOS
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