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Vivos Therapeutics (NASDAQ: VVOS) reported Q1 2024 financial results, highlighting a 22% reduction in operating expenses and a gross margin of 57%. Revenue for Q1 2024 was $3.4 million, down from $3.8 million in Q1 2023, due to lower VIP enrollments and CARE appliance revenue. However, revenue from pediatric and lifeline appliances and home sleep testing services increased. Gross profit was $1.9 million. Despite revenue decline, cost-cutting initiatives reduced operating loss by 24% year-over-year. Cash and cash equivalents were $2.6 million. Over 42,600 patients have been treated with Vivos' devices, and regulatory approvals for Medicare reimbursement were obtained in April 2024. The company expects positive cash flow by end-2024, driven by new strategic revenue initiatives and improved market conditions.
Vivos Therapeutics (NASDAQ: VVOS), a key player in medical devices for sleep-related breathing disorders, will release its Q1 2024 financial results today, May 14, 2024, after market close. The company will hold a conference call at 5:00 p.m. ET to discuss financial results and recent milestones. Investors can join the call via provided phone numbers or access a live webcast on the company's website. A replay of the call will be available until May 28, 2024.