Vivos Therapeutics (NASDAQ: VVOS), a leading medical-device and technology company specializing in the development and commercialization of highly effective proprietary treatments for sleep-related breathing disorders, is reporting financial results and operating highlights for Q4 and full year 2023, for the period ended Dec. 31, 2023. The report noted that revenue came in at $3.2 million for Q4 2023 and $13.8 million for the full year; gross profit was $2.1 million for the Q4 2023 and $8.3 million for the full year; and gross margin totaled 64% for Q4 2023 and 60% for the full year. In addition, the company reported that more than 42,000 patients have been treated worldwide with Vivos’ patented oral appliances, up from approximately 33,000 at the end of 2022. Vivos has announced key strategic agreements with Ormco, a division of publicly traded Envista Holdings Corporation, and On Demand Orthodontist (“ODO”) as well as an exclusive distribution agreement with NOUM DMCC, a Dubai-based company focused on diagnostic testing and treatment product distribution throughout the Middle East-North Africa (“MENA”) region. “In 2023, we took a number of steps to expand our portfolio of proprietary products, open up new revenue streams, lower our cost structure and strengthen our liquidity position,” said Vivos Therapeuticschair and CEO Kirk Huntsman in the press release. “We also worked tirelessly to expand our FDA approvals to put ourselves in a better position for long-term revenue growth. We have made substantial progress and are now starting to see the benefits of our actions. . . . As we move through the new year, macroeconomic trends exiting 2023 and in early 2024 give us optimism that the larger environment is improving. At the same time, we are seeing increased interest from dentists and medical professionals related to our growing portfolio of products, driven by our new FDA clearance for severe OSA.”
To view the full press release, visit https://ibn.fm/0P8yw
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 obstructive sleep apnea (“OSA”) and snoring in adults. The Vivos Method represents the first clinically effective, nonsurgical, noninvasive, nonpharmaceutical and cost-effective solution for treating mild to severe OSA. It has proven effective in the treatment of an estimated 42,000 patients worldwide by more than 1,900 trained dentists. The Vivos Method includes treatment regimens that employ the proprietary Vivos Complete Airway Repositioning and/or Expansion (CARE) appliance therapy and other modalities that alter the size, shape and position of the soft 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-severe 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 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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