The following is a summary of the Vivos Therapeutics, Inc. (VVOS) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Vivos reported a Q4 2023 total revenue of $3.2 million, down from $4 million in Q4 2022 due to lower appliance sales and VIP enrollments. This was partially balanced by increased revenue from home sleep testing service and seminars.

• The annual revenue for 2023 was $13.8 million, showing a dip from $16 million in 2022.

• In 2023, the company reduced operating expenses by 27% YoY and the net operating loss by 57% YoY, signalling successful cost-cutting measures.

• A successful $4 million private placement in late 2023 greatly improved Vivos' financial stability.

• Cash burn from operations for the year ended December 31, 2023, decreased by $7.7 million compared to the prior year.

Business Progress:

• Vivos received FDA clearances to treat both mild and severe Obstructive Sleep Apnea (OSA), making it a significant year for regulatory breakthroughs.

• The company made considerable progress in developing new treatments and protocols for OSA and achieved significant clinical improvements in patients with various degrees of breathing and sleep disorders.

• Notable market acceptability was seen in early 2024, as UnitedHealthcare mandated oral appliance therapy as a key treatment step for OSA patients.

• The company continues to invest in R&D and expects to launch novel breakthroughs shortly.

• The partnerships, especially with Ormco, and the successful acquisition of AFD contributed positively to the company's growth.

• Progress in Vivos' DSO business was significant, with spikes in interest following the company's latest clearance.

• Looking forward, the company aims to achieve cash flow positivity by the end of 2024 and plans to announce strategic changes and partnerships to further exploit their innovative technology.

More details: Vivos Therapeutics IR

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