Vivos Therapeutics, Inc. develops and commercializes medical technology and healthcare services for breathing-related sleep disorders, including obstructive sleep apnea and snoring associated with dentofacial abnormalities. Its Complete Airway Repositioning and Expansion (CARE) oral devices have FDA 510(k) clearances for adult OSA patients across severity levels and for moderate-to-severe OSA in children ages 6 to 17.
Company news commonly covers financial results, sleep testing services, treatment-center activity, and the integration of The Sleep Center of Nevada operating assets. Updates also address the shift toward a medical-affiliation distribution model, payer-network status for supported professional practices, collaborations for airway and sleep technologies, and capital actions such as warrant exercises and private placements.
Vivos Therapeutics (NASDAQ: VVOS) announced a significant milestone with the FDA granting clearance for its DNA appliance, marking the first formal recognition of Vivos' proprietary technology for treating mild-to-moderate obstructive sleep apnea (OSA). This 510(k) clearance is Vivos' third FDA approval for its oral devices, enhancing the company's position in the sleep treatment market. Clinical data revealed 28% of patients saw resolution of OSA. The device aims to expand palates and improve airway function, providing a non-invasive alternative to traditional OSA therapies.
Vivos Therapeutics reported its financial results for the second and third quarters of 2022, indicating revenue of $4.2 million in both quarters. The company addressed delays in filing 10-Q reports due to revenue recognition policy reviews, concluding that the impact was minimal. Notably, appliance revenue increased by 28% and 20% in Q2 and Q3 respectively, bolstered by higher sales volumes. However, gross profit decreased, with gross margins at 62% and 59% for Q2 and Q3. Vivos is now current with SEC filings and plans to achieve positive cash flow in the next 12-18 months.
Vivos Therapeutics (NASDAQ: VVOS) will release its second and third quarter 2022 financial results on December 20, 2022, after market close. The company will hold a conference call at 5:00 pm ET to discuss these results and recent company developments. Vivos has faced delays in filing its Form 10-Q due to technical discussions with accountants. With the filing of these results, Vivos aims to become current in its financial filings for Nasdaq compliance. The company specializes in treatments for dentofacial abnormalities and obstructive sleep apnea.
Vivos Therapeutics announces a strategic collaboration with Nexus Dental Systems expected to boost revenues immediately. This partnership combines Vivos’ out-of-network Billing Intelligence Service with Nexus’ in-network platform, enhancing medical billing access for sleep and breathing disorder treatments. The collaboration aims to improve reimbursement rates and reduce out-of-pocket expenses for patients, potentially increasing case acceptance for Vivos-trained dentists. Vivos currently boasts a 98% success rate for reimbursement claims.
Vivos Therapeutics (NASDAQ: VVOS) announced it expects to become current on its SEC filings soon after receiving a notice from Nasdaq for not timely filing its 10-Q report for Q3 2022. The issue arose from complexities in the company’s revenue recognition policies, specifically ASC Topic 606. Vivos has resolved these matters and restated its 10-Q for Q1 2022. The company intends to file its delayed Q2 and Q3 reports shortly, which will address Nasdaq's concerns. Importantly, this notice does not immediately affect the trading of VVOS stock.
Vivos Therapeutics (NASDAQ: VVOS) announced a review of its revenue recognition policies, concluding that minimal adjustments are needed for prior financial results. The first quarter 2022 revenue is set to increase by about $200,000, with no revenue lost. The company will restate its financials without needing to amend previous audited annual statements. Vivos will file restated Q1 2022 results and anticipates submitting Q2 and Q3 2022 reports by year-end. The adjustments will not impact cash flows or liquidity, ensuring Nasdaq compliance for financial filings.
Vivos Therapeutics (NASDAQ: VVOS) announced it received a compliance notice from Nasdaq for failing to timely file its Form 10-Q for the quarter ended June 30, 2022. This is due to ongoing reviews of financial statements and discussions over revenue recognition policies. The company has 60 days from August 23, 2022, to file the report to regain compliance. If they fail to do so, Nasdaq may initiate suspension and delisting procedures. The company is working to complete the filing as soon as possible.
Vivos Therapeutics (NASDAQ: VVOS) announced a delay in its Q2 2022 financial results, citing a need for a reevaluation of its revenue recognition policy under ASC Topic 606. CEO Kirk Huntsman assured investors that the delay is not indicative of the company's overall health. Despite the delay, Vivos reported strong sales in June with record appliance sales and new provider enrollments. The company is implementing cost-cutting measures and anticipates potential positive cash flow by early 2024.
Vivos Therapeutics (NASDAQ: VVOS) announced the rescheduling of its second quarter financial results originally set for August 15, 2022, due to discussions with its accountants over revenue recognition policies under ASC Topic 606. The new date for the financial results release and conference call is expected on or before August 22, 2022. Vivos specializes in treating dentofacial abnormalities and obstructive sleep apnea through innovative, non-invasive methods.
Vivos Therapeutics (NASDAQ: VVOS) is set to announce its Q2 2022 financial results after market close on August 15, 2022. A conference call will follow at 5:00 PM ET that day to discuss the results and company milestones. Vivos specializes in treatments for dentofacial abnormalities and conditions like obstructive sleep apnea (OSA), with its Vivos Method providing a non-invasive solution to approximately 28,000 patients treated globally. The call can be accessed via dial-in or online webcast, with a replay available until August 29, 2022.