Vivos Therapeutics (NASDAQ: VVOS), a medical technology company focused on developing and commercializing innovative treatments for patients suffering from sleep-disordered breathing including obstructive sleep apnea (“OSA”), reported is financial and operational results for the fourth quarter and fiscal year ending Dec. 31, 2020. The company also held a conference call on March 25, 2021, to discuss the new report. High on the list of significant achievements for the company was a full-year revenue increase of 15%; revenue for 2020 was $13.1 million compared to $11.4 million in 2019. Gross profit and margin was up for both the fourth quarter and fiscal year; the report noted that Vivos also completed a $21.6 million initial public offering in December 2020. Other highlights for the company included the commercial launch of AireO2, a new patient-management software technology, and VivoScore(TM), a comprehensive home sleep test. In addition, the company submitted an FDA 510(k) application for the Vivos mmRNA oral appliance(R). “Successfully introducing a disruptive technology like ours takes a passionate mission-driven team, sufficient capital resources and a little time to execute,” said Vivos chair and CEO Kirk Huntsman in the press release. “Last December, we took a huge step forward with the completion of our IPO, which provided the financial resources to execute our go-to-market strategy. Despite a global pandemic that closed dental offices across the U.S. and Canada for extended periods of time, our company still produced strong 2020 revenue results. . . . We remain fiercely committed to establishing revenue opportunities from complimentary technologies and services.”
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About Vivos Therapeutics Inc.
Vivos Therapeutics is a medical technology company focused on developing and commercializing innovative treatments for patients suffering from sleep-disordered breathing including obstructive sleep apnea (“OSA”). The Vivos treatment for mild-to-moderate OSA involves customized oral appliances and protocols called the Vivos System. Vivos believes that its Vivos System technology represents the first clinically effective, nonsurgical, noninvasive, nonpharmaceutical and cost-effective solution for people with mild-to-moderate OSA. Vivos oral appliances have proven effective in more than 18,000 patients treated worldwide by more than 1,200 trained 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 can eliminate or significantly reduce symptoms and conditions associated with mild-to-moderate OSA. The Vivos System has been shown to significantly lower Apnea Hypopnea Index scores and improve other conditions associated with OSA. The Vivos Integrated Practice (“VIP”) program offers dentists 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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