Vivos Therapeutics Inc (NAS:VVOS)
$ 5.5 +0.060 (+1.1%) Market Cap: 32.39 Mil Enterprise Value: 31.10 Mil PE Ratio: 0 PB Ratio: 7.33 GF Score: 50/100
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Q3 2024 Vivos Therapeutics Inc Earnings Call Transcript

Nov 14, 2024 / 10:00 PM GMT
Release Date Price: $3.12

Key Points

Positve
  • Vivos Therapeutics Inc (VVOS) reported a 17% increase in total revenue for Q3 2024 compared to the same period in 2023, driven by higher sales of Vivos appliances and guides.
  • The company achieved a 34% increase in product revenue and a 60% gross margin for Q3 2024, up from 53% in Q3 2023.
  • Vivos Therapeutics Inc (VVOS) has successfully reduced operating expenses for the ninth consecutive quarter, with a 21% decrease year-over-year for the nine months ended September 30, 2024.
  • The company has strengthened its cash position, with cash and cash equivalents increasing to $6.3 million as of September 30, 2024, compared to $1.6 million at the end of 2023.
  • Vivos Therapeutics Inc (VVOS) has received FDA clearance for treating severe OSA in both adult and pediatric populations, which is expected to broaden the adoption of its products.
Negative
  • Net loss for Q3 2024 increased by 25% to $2.6 million compared to the same quarter in 2023, primarily due to changes in the fair value of a warrant liability.
  • The company experienced a decrease in VIP enrollment revenue, with only five VIPs enrolled in Q3 2024 compared to 29 in Q3 2023.
  • Vivos Therapeutics Inc (VVOS) is undergoing a transition in its sales and marketing strategy, which may lead to short-term revenue fluctuations.
  • The company's new strategic alliance model is still in its early stages, and its full impact on revenue growth remains uncertain.
  • There is uncertainty regarding the reimbursement levels for the new CPT codes specific to Vivos products, which could affect future revenue potential.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

VVOS.OQ - Vivos Therapeutics Inc
Q3 2024 Vivos Therapeutics Inc Earnings Call
Nov 14, 2024 / 10:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day, everyone and welcome to the Vivos Therapeutics third quarter, 2024 earnings conference call at this time, participants are in a listen-only mode, a question and answer session will follow management's remarks. This conference call is being recorded and a replay of today's call will be available on the investor relations section of vivo's website and will remain posted there for the next 30 days.

I will now hand the call over to Brad Amman, Chief Financial Officer for introductions and the reading of the Safe Harbor statement. Please go ahead.

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Unidentified_2 [2]
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