Year-over-year revenue increased 70%, reflecting contribution from Vivos' acquisition of The Sleep Center of Nevada
Management to Host Conference Call today at 5:00 pm ET
LITTLETON, Colo., May 20, 2026 (GLOBE NEWSWIRE) -- Vivos Therapeutics, Inc. ("Vivos" or the "Company'') (NASDAQ: VVOS), a leading medical device and healthcare services company focused on the treatment of breathing-related sleep disorders and associated chronic health conditions, including obstructive sleep apnea ("OSA"), today reported financial results and operating highlights for the first quarter ended March 31, 2026.
Kirk Huntsman, Vivos' Chairman and Chief Executive Officer, stated "Our significant revenue increase year over year and quarter over quarter confirms what we emphatically stated when we reported our 2025 year end results last month: that the fourth quarter of 2025 was not fully indicative of our overall growth trajectory, which remains strong and is accelerating here in the second quarter. Our June 2025 acquisition of SCN and business model pivot continues to drive patient volume and top-line revenue, and we are working hard to increase the daily productivity of SCN doctors and insurance reimbursement. Importantly, and as expected, we are seeing a very significant reduction in customer acquisition costs. So, our goal is continued integration of, and growth from, SCN and other medical provider collaborations, and our current results demonstrate that this is achievable going forward. Meanwhile, we have implemented significant cost savings measures, and have simultaneously been working to secure new funding to meet our operating needs and to restructure our debt in order to improve our stockholders' equity and reduce cash burn, all with the goal of getting us to cash flow positive operations as soon as possible."
First Quarter 2026 Financial and Operating Summary
- Revenue increased approximately $2.1 million, or 70%, to approximately $5.1 million for the three months ended March 31, 2026 compared to $3.0 million for the three months ended March 31, 2025. This was due to an increase of approximately $2.0 million in sleep testing services, and an increase of approximately $0.9 million of revenue generated from Vivos treatment to patients launched at two SCN locations.
Under Vivos' new model, treatment center revenue, which is classified as service revenue, includes revenue from both (1) OSA appliances used by patients and (2) other treatment protocols such as myofunctional therapy, whereas product sales revenue reflects direct sales of appliances and tooth positioners to legacy Vivos Integrated Provider (VIP) dentist customers.
- For the three months ended March 31, 2026, gross profit increased by approximately $1.5 million or 103%, to $3.1 million. This increase was attributable to the increase in revenue of approximately $2.1 million, offset by an increase in related cost of sales of approximately $0.6 million.
- Gross margin increased to 60% for the three months ended March 31, 2026, when compared to 50% for the three months ended March 31, 2025;
- Operating expenses for the first quarter ended March 31, 2026 were $9.7 million, an increase of 78% compared to $5.4 million in the same period a year ago and prior to the acquisition in June 2025 of SCN. Approximately $0.9 million of the increase is related to first quarter professional fees that are not expected to recur throughout the remainder of the year.
- Vivos' first quarter 2026 net loss increased 100% to $7.8 million compared to $3.9 million in the first quarter of 2025, attributable in large part to the addition of personnel and costs required to support our business expansion, and other one-time or non-recurring costs in first quarter 2026;
- At March 31, 2026, cash and cash equivalents were $2.1 million, and stockholders' equity was a deficit of $1.1 million;
- Oral appliance sales in the first quarter of 2026 rose 42% to 5,304 versus 3,735 in first quarter of 2025. Revenue from all oral appliance sales to legacy VIP dentist customers in the quarter was $1.4 million versus $1.8 million in the same period a year earlier due to greater volumes of lower priced (but higher margin) tooth positioners. As noted above, under Vivos' new model, revenue from OSA appliance sales through SCN are included in service/treatment center revenue.
- As expected, due to the business model pivot, there were no enrollments of new VIP dentists during the quarter, and Vivos' reliance on VIP enrollment revenue recognized over time continues to diminish significantly. Vivos believes its overall 70% revenue growth in the first quarter versus the same period a year earlier, despite having no new revenue from VIP enrollments, is further testament to the merits of Vivos' strategic business model pivot.
Vivos encourages investors and other interested parties to join its conference call today at 5:00 p.m. Eastern time (details below), where management will discuss further details on topics including Vivos' strategic initiatives and the anticipated effect on Vivos' near-term revenue growth and cash burn.
In addition, further information on Vivos' financial results is included on the attached condensed consolidated balance sheets and statements of operations, and additional explanations of Vivos' financial performance are provided in the Vivos' Annual Report on Form 10-Q for the three months ended March 31, 2026, which was filed today with the Securities and Exchange Commission ("SEC"). The full 10-Q report will be available on the SEC Filings section of the Investor Relations section of Vivos' website at https://vivos.com/investors/.
Conference Call
To access Vivos' investor conference call, please dial (800) 717-1738 or (646) 307-1865 for international callers. A replay will be available shortly after the call and can be accessed by dialing (844) 512-2921 or (412) 317-6671 for international callers. The passcode for the replay is 1104621. The replay will be available until June 3, 2026
A live webcast of the conference call is available on Vivos' website at https://vivos.com/investors/. An online archive of the webcast will be available on the Company's website for 30 days following the call.
About Vivos Therapeutics, Inc.
Vivos Therapeutics, Inc. (NASDAQ: VVOS) is a medical technology and healthcare services company focused on developing and commercializing innovative diagnostic and treatment methods for patients suffering from breathing and sleep issues arising from certain dentofacial abnormalities such as obstructive sleep apnea (OSA) and snoring in adults. Vivos' devices have been cleared by the U.S. Food and Drug Administration (FDA) for adult patients diagnosed with all severity levels of OSA and moderate-to-severe OSA in children ages 6 to 17. Vivos' groundbreaking Complete Airway Repositioning and Expansion (CARE) devices are the only FDA 510(k) cleared technology for treating severe OSA in adults and the first to receive clearance for treating moderate to severe OSA in children.
OSA affects over 1 billion people worldwide, yet 80% or more remain undiagnosed and unaware of their condition. This chronic disorder is not just a sleep issue-it is closely linked to many serious chronic health conditions. While the medical community has made strides in treating sleep disorders, breathing and sleep health remain areas that are still not fully understood. As a result, legacy OSA treatments like CPAP are often mechanistic and fail to address the root causes of OSA.
Founded in 2016 and based in Littleton, Colorado, Vivos is working to change this. Through innovative technology, education, and acquisitions of, or commercial collaborations with, sleep healthcare providers, Vivos is empowering healthcare providers to address the complex needs of OSA patients more thoroughly.
Vivos calls the use of its appliances and protocols to treat OSA The Vivos Method, which offers a proprietary, clinically effective solution that is nonsurgical, noninvasive, and nonpharmaceutical, providing hope to allow patients to Breathe New Life
For more information, visit www.vivos.com.
Cautionary Note Regarding Forward-Looking Statements
This press release, the conference call referred to herein, and statements of the Company's management made in connection therewith contain "forward-looking statements" (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events. Words such as "may", "should", "expects", "projects," "intends", "plans", "believes", "anticipates", "hopes", "estimates", "goal" and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve significant known and unknown risks and are based upon several assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond Vivos' control. Actual results (including the actual benefits of the Company's new model described herein and actual revenue and cash flow results) may differ materially and adversely from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to: (i) the risk that Vivos may be unable to implement revenue, sales and marketing strategies and other strategies that increase revenues, (ii) the risk that some patients may not achieve the desired results from using Vivos products, (iii) risks associated with regulatory scrutiny of and adverse publicity in the sleep apnea treatment sector; (iv) the risk that Vivos may be unable to secure additional financings on reasonable terms when needed, if at all, or maintain its Nasdaq listing due to, among other things, a deficiency in its stockholders' equity; (v) market and other conditions, and (vi) other risk factors described in Vivos' filings with the SEC. Vivos' filings can be obtained free of charge on the SEC's website at www.sec.gov. Except to the extent required by law, Vivos expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Vivos' expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based.
Vivos Investor Relations and Media Contact:
Bradford Amman
Chief Financial Officer and Investor Relations Contact
investors@vivoslife.com
| -Tables Follow- VIVOS THERAPEUTICS INC. Unaudited Condensed Consolidated Statements of Operations (In Thousands, Except Per Share Amounts) | ||||||||
| Three Months Ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| Revenue | ||||||||
| Product revenue | - | 1,440 | - | 1,813 | ||||
| Service revenue | 3,701 | 1,203 | ||||||
| Total revenue | 5,141 | 3,016 | ||||||
| Cost of sales (exclusive of depreciation and amortization shown separately below) | 2,082 | 1,507 | ||||||
| Gross profit | 3,059 | 1,509 | ||||||
| Operating expenses | ||||||||
| General and administrative | 8,971 | 4,892 | ||||||
| Sales and marketing | 249 | 358 | ||||||
| Depreciation and amortization | 454 | 177 | ||||||
| Total operating expenses | 9,674 | 5,427 | ||||||
| Operating loss | (6,615 | - | (3,918 | - | ||||
| Non-operating income (expense) | ||||||||
| Other expense | (1,167 | - | (4 | - | ||||
| Other income | 31 | 58 | ||||||
| Loss before income taxes | (7,751 | - | (3,864 | - | ||||
| Net loss | - | (7,751 | - | - | (3,864 | - | ||
| Net loss attributable to non-controlling interest | (69 | - | - | |||||
| Net loss attributable to stockholders | - | (7,682 | - | - | (3,864 | - | ||
| Net loss per share (basic and diluted) | - | (0.52 | - | - | (0.45 | - | ||
| Weighted average number of shares of Common Stock outstanding (basic and diluted) | 14,634,115 | 8,595,288 | ||||||
| VIVOS THERAPEUTICS INC. Unaudited Condensed Consolidated Balance Sheets (In Thousands, Except Per Share Amounts) | ||||||||
| March 31, 2026 | December 31, 2025 | |||||||
| Current assets | ||||||||
| Cash and cash equivalents | - | 2,110 | - | 2,029 | ||||
| Accounts receivable, net of allowance of $1,159 and $882, respectively | 1,769 | 1,581 | ||||||
| Prepaid expenses and other current assets | 940 | 774 | ||||||
| Total current assets | 4,819 | 4,384 | ||||||
| Long-term assets | ||||||||
| Goodwill | 8,572 | 8,572 | ||||||
| Property and equipment, net | 3,526 | 3,757 | ||||||
| Operating lease right-of-use asset | 4,033 | 4,166 | ||||||
| Intangible assets, net | 3,839 | 4,045 | ||||||
| Deposits and other | 254 | 228 | ||||||
| Total assets | - | 25,043 | - | 25,152 | ||||
| LIABILITIES AND STOCKHOLDERS' EQUITY/(DEFICIT) | ||||||||
| Current liabilities | ||||||||
| Accounts payable | - | 1,996 | - | 1,679 | ||||
| Accrued expenses | 6,113 | 5,988 | ||||||
| Current portion of contract liabilities | 495 | 479 | ||||||
| Current portion of operating lease liability | 744 | 672 | ||||||
| Current portion of financing lease liability | 56 | 55 | ||||||
| Current portion of debt | 7,299 | 8,353 | ||||||
| Other current liabilities | 1,234 | 850 | ||||||
| Total current liabilities | 17,938 | 18,076 | ||||||
| Long-term liabilities | ||||||||
| Employee retention credit liability | 2,904 | 2,904 | ||||||
| Operating lease liability, net of current portion | 3,653 | 3,840 | ||||||
| Financing lease liability, net of current portion | 98 | 113 | ||||||
| Debt, net of current portion | 418 | 469 | ||||||
| Other liabilities | 1,300 | 1,300 | ||||||
| Total liabilities | 26,310 | 26,702 | ||||||
| Commitments and contingencies | - | - | ||||||
| Stockholders' equity/(deficit) | ||||||||
| Preferred Stock, $0.0001 par value per share. Authorized 50,000,000 shares; no shares issued and outstanding | - | - | ||||||
| Common Stock, $0.0001 par value per share. Authorized 200,000,000 shares; issued and outstanding 13,486,006 shares as of March 31, 2026 and 9,286,609 shares as December 31, 2025 | 1 | 1 | ||||||
| Additional paid-in capital | 131,900 | 123,866 | ||||||
| Accumulated deficit | (133,039 | - | (125,357 | - | ||||
| Total stockholders' equity/(deficit) | (1,138 | - | (1,490 | - | ||||
| Non-controlling interest | 129 | 60 | ||||||
| Total equity/(deficit) | (1,267 | - | (1,550 | - | ||||
| Total liabilities and equity/(deficit) | - | 25,043 | - | 25,152 | ||||
