Vivos Therapeutics (NASDAQ: VVOS), a medical technology company focused on developing and commercializing a suite of innovative diagnostic and treatment modalities for patients with dentofacial abnormalities and/or mild to moderate obstructive sleep apnea (“OSA”) and snoring in adults, is reporting its financial results and operating highlights for the fourth quarter and full year ended Dec. 31, 2021. Highlights of the report include a revenue increase of 33% and increased appliance sales, VIP enrollments and additional sources of revenue including billing intelligence services and MyoCorrect oral myofunctional therapy. Specifically, the company reported revenue of $4.4 million for Q4 2021 and $16.9 million for the full year 2021, compared to $3.3 million and $13.1 million for the fourth quarter and full year 2020, respectively. Appliance sales grew to 2,707 total oral appliance arches, a 7% increase for Q4 2021 compared to the 2,525 appliances sold during the same period in 2020; total oral appliance arches sold in 2021 reached 11,355, a 40% increase for the full year compared to the 8,135 reported for the previous year. In addition, Vivos added 35 dentists to its Vivos Integrated Practice (“VIP”) program during Q4 2021, and 197 for the full year 2021. Vivos reported gross profit of $3.1 million for Q4 2021 and $12.6 million for the full year, compared to $2.7 million and $10.4 million for the comparable periods in 2020, respectively. “Vivos has made substantial progress since our December 2020 initial public offering and achieved a number of key milestones,” said Vivos chair and CEO R. Kirk Huntsman in the press release. “Despite COVID-19 variant resurgences in the middle and latter part of the year, we generated strong year-over-year revenue growth both for the fourth quarter and full year 2021. Our sales growth reflects increased market penetration and appliance sales driven by our core of VIPs, as more people adopt The Vivos Method as a treatment for mild to moderate sleep apnea. It also included revenue generated from new products and services we introduced in 2021, including our billing intelligence services and MyoCorrect oral myofunctional therapy. Expanding our sources of revenue remains a top priority for us in 2022, even as we continue to grow revenue from our core business of VIP enrollment and appliances.”
To view the full press release, visit https://ibn.fm/gbrd6
About Vivos Therapeutics Inc.
Vivos Therapeutics is a medical technology company focused on developing and commercializing a suite of innovative diagnostic and treatment modalities for treating patients with dentofacial abnormalities or mild-to-moderate obstructive sleep apnea (“OSA”) as well as snowing in adults. The Vivos Method represents the first clinically effective, nonsurgical, noninvasive, nonpharmaceutical and cost-effective solution. The Vivos Method has proven effective in the treatment of more than 25,000 patients worldwide by more than 1,450 trained dentists. Combining proprietary technologies and protocols that alter the size, shape and position of the tissues of a patient’s upper airway, 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 VivosScore program 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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