NetworkNewsBreaks – Vivos Therapeutics Inc. (NAS
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Posted On: 04/01/2024 4:33:58 PM
NetworkNewsBreaks – Vivos Therapeutics Inc. (NASDAQ: VVOS) Releases Q4, FY 2023 Financial Report, Operational Update
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.”
NOTE TO INVESTORS: The latest news and updates relating to VVOS are available in the company’s newsroom at http://ibn.fm/VVOS
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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.”
NOTE TO INVESTORS: The latest news and updates relating to VVOS are available in the company’s newsroom at http://ibn.fm/VVOS
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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