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Vivos Therapeutics | 10-Q: Quarterly report

Vivos Therapeutics | 10-Q: Quarterly report

Vivos Therapeutics | 10-Q：季度報表
美股sec公告 ·  05/14 16:22
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Vivos Therapeutics, a medical technology company specializing in treatment alternatives for patients with dentofacial abnormalities and sleep apnea, reported a decrease in revenue for the first quarter of 2024. Total revenue fell by 11% to $3.4 million compared to $3.9 million in the same period of the previous year. This decline was attributed to a $98,000 drop in product revenue and a $340,000 decrease in service revenue. The company's net loss widened to $3.8 million from $1.7 million year-over-year. Operating expenses decreased by 25% to $4.9 million, primarily due to reduced professional fees and personnel costs following a reduction in force. Despite cost-saving measures and reduced cash used in operations, Vivos Therapeutics acknowledged the need for additional financing to sustain operations and comply with Nasdaq's minimum stockholders' equity requirement. The company's cash and cash equivalents stood at $2.6 million as of March 31, 2024. Vivos Therapeutics continues to implement a remediation plan to address material weaknesses in internal control over financial reporting, with progress expected throughout 2024.
Vivos Therapeutics, a medical technology company specializing in treatment alternatives for patients with dentofacial abnormalities and sleep apnea, reported a decrease in revenue for the first quarter of 2024. Total revenue fell by 11% to $3.4 million compared to $3.9 million in the same period of the previous year. This decline was attributed to a $98,000 drop in product revenue and a $340,000 decrease in service revenue. The company's net loss widened to $3.8 million from $1.7 million year-over-year. Operating expenses decreased by 25% to $4.9 million, primarily due to reduced professional fees and personnel costs following a reduction in force. Despite cost-saving measures and reduced cash used in operations, Vivos Therapeutics acknowledged the need for additional financing to sustain operations and comply with Nasdaq's minimum stockholders' equity requirement. The company's cash and cash equivalents stood at $2.6 million as of March 31, 2024. Vivos Therapeutics continues to implement a remediation plan to address material weaknesses in internal control over financial reporting, with progress expected throughout 2024.
專門爲牙面異常和睡眠呼吸暫停患者提供替代治療的醫療技術公司Vivos Therapeutics報告稱，2024年第一季度的收入有所下降。與去年同期的390萬美元相比，總收入下降了11％，至340萬美元。這種下降歸因於產品收入下降了98,000美元，服務收入減少了34萬美元。該公司的淨虧損從同比的170萬美元擴大至380萬美元。運營支出下降了25％，至490萬美元，這主要是由於削減後專業費用和人員成本減少。儘管採取了節省成本的措施並減少了運營中使用的現金，但Vivos Therapeutics承認需要額外的融資來維持運營並遵守納斯達克的最低股東權益要求。截至2024年3月31日，該公司的現金及現金等價物爲260萬美元。Vivos Therapeutics繼續實施補救計劃，以解決財務報告內部控制方面的重大缺陷，預計將在2024年全年取得進展。
專門爲牙面異常和睡眠呼吸暫停患者提供替代治療的醫療技術公司Vivos Therapeutics報告稱，2024年第一季度的收入有所下降。與去年同期的390萬美元相比，總收入下降了11％，至340萬美元。這種下降歸因於產品收入下降了98,000美元，服務收入減少了34萬美元。該公司的淨虧損從同比的170萬美元擴大至380萬美元。運營支出下降了25％，至490萬美元，這主要是由於削減後專業費用和人員成本減少。儘管採取了節省成本的措施並減少了運營中使用的現金，但Vivos Therapeutics承認需要額外的融資來維持運營並遵守納斯達克的最低股東權益要求。截至2024年3月31日，該公司的現金及現金等價物爲260萬美元。Vivos Therapeutics繼續實施補救計劃，以解決財務報告內部控制方面的重大缺陷，預計將在2024年全年取得進展。
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