Vivos Therapeutics (NASDAQ: VVOS), a medical technology company focused on developing and commercializing innovative diagnostic and treatment modalities for patients suffering from mild to moderate obstructive sleep apnea (“OSA”) and snoring in adults, has released is third-quarter 2021 financial report; the company also reported on operational highlights. The report noted that VVOS Q3 revenue increase more than 38% year over year, reaching $4.5 million for the third quarter of 2021 and $12.5 million for the nine months ended Sept. 30, 2021 as compared to $3.3 million and $9.8 million for the three and nine months for the same period last year. The company reported appliance sales of 2,996 total oral appliance arches, a 33% increase from the same period last year, with 8,648 total oral appliance arches, a 54% increase for the nine months ended Sept. 30, 2021, compared to the same period in 2020. Business highlights include more than 22,000 total patients have been treated with the Vivos System, compared to an estimated 13,000 for Q3 2020, with more than 1,350 dentists being trained in the use of the Vivos System and other related value-added services. In addition, the company was granted market clearance from the U.S. Food and Drug Administration for its mmRNA device designed to treat mild-to-moderate OSA, sleep-disordered breathing and snoring in adults. The company also opened an international training center in Denver and released positive results from an independent patient survey and separate clinical study related to its proprietary treatment. “The third quarter saw many positive developments for Vivos,” said Vivos chair and CEO R. Kirk Huntsman in the press release. “We recorded strong year-over-year growth, reflecting what we believe is growing recognition and adoption of our Vivos System as a treatment for mild-to-moderate sleep apnea. Our sales growth during the quarter, most notably in appliances, is beginning to reflect the impact of our previously announced strategic growth initiatives, including our expanded sales and marketing activities, featuring the broad introduction of our VivoScore diagnostic program. While we experienced a late summer decline in new VIP enrollments due in part to COVID-19, we are now generating revenue outside of our core of VIP enrollment revenue and appliance sales, including the value-added services we offer our VIPs and their patients as well as the beginnings of management revenue from our Medical Integration Division.”
To view the full press release, visit https://ibn.fm/fwFTy
About Vivos Therapeutics Inc.
Vivos Therapeutics is a medical technology company focused on developing and commercializing innovative diagnostic and treatment modalities for adult patients suffering from mild-to-moderate obstructive sleep apnea (“OSA”). The Vivos treatment involves customized oral appliances and treatment protocols called the Vivos System. Vivos believes that its Vivos System oral appliance technology represents the first clinically effective, nonsurgical, noninvasive, nonpharmaceutical and cost-effective solution for adults with mild-to-moderate OSA. Vivos also sells orthodontic appliances for adults and children. Vivos’ oral appliances have proven effective in the treatment of more than 22,000 patients worldwide by more than 1,350 trained dentists. Combining technologies and protocols that alter the size, shape and position of the tissues of a patient’s upper airway, the Vivos System opens airway space and may significantly reduce symptoms and conditions associated with mild-to-moderate OSA, such as lowering Apnea Hypopnea Index scores. Vivos also markets and distributes VivosScore, powered by the SleepImage diagnostic technology, for home sleep testing in adults and children. The Vivos Integrated Practice (“VIP”) program offers dentist training and other value-added services in connection with using the Vivos System. 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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