Vivos Therapeutics Q2 revenue rises 35% on service growth
VVOS•Analyst coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell".
The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy".
Wall Street's median 12-month price target for Vivos Therapeutics Inc is $2.50, about 718.9% above its August 13 closing price of $0.31.
Outlook and growth drivers
The company expects continued revenue growth driven by increased patient volume and provider referrals.
Vivos anticipates further benefits from pending partnerships with large cardiology groups in Florida and Arizona.
The company said Q2 revenue growth was driven by service revenue, mainly from sleep testing and treatment services in Nevada. It also reported significant increases in patient volume and physician referrals, including from insomnia/EEG and pediatric programs. Vivos cited expanded facilities, increased provider count, and new referral and service initiatives as contributing to higher revenue.
Q2 revenue rises on service growth
Vivos Therapeutics said second-quarter revenue rose 35% year over year, driven by service growth.
Gross margin improved to 57% from 55% a year ago on higher revenue. Second-quarter operating loss was flat at $4.8 million as expenses rose with expansion.
| Metric | Actual |
|---|---|
| Q2 Revenue | $5.2 million |
| Q2 Net Loss | $5.52 million |
| Q2 Gross Profit | $2.95 million |
