Vivos Therapeutics Q1 Revenue Up 70%, Gross Margin Rises to 60%
Vivos Therapeutics Q1 revenue rose 70% to $5.1M, driven by $2.0M in sleep testing services and $0.9M from two acquired SCN locations, lifting gross profit 103% to $3.1M and gross margin to 60%. Net loss doubled to $7.8M as operating expenses climbed 78% to $9.7M, with cash at $2.1M and equity at a $1.1M deficit.
1. First Quarter Revenue and Gross Margin Growth
The company’s Q1 revenue increased 70% year-over-year to $5.1M, driven by a $2.0M rise in sleep testing services and $0.9M from treatment at two newly acquired SCN locations. Gross profit climbed 103% to $3.1M, lifting gross margin to 60% from 50%.
2. Operating Costs and Net Loss
Operating expenses grew 78% to $9.7M, reflecting higher personnel costs and $0.9M in one-time professional fees. This cost increase contributed to a net loss doubling to $7.8M from $3.9M, as expansion and integration expenses weighed on profitability.
3. Balance Sheet Position and Strategic Outlook
At March 31, cash and equivalents stood at $2.1M with a $1.1M stockholders’ equity deficit. Management has implemented cost savings, is pursuing debt restructuring and new funding to support operations, and aims to reach cash flow positive status soon.