Vivos Liabilities Rise to $26.7M While Revenue Grows 16% in 2025
Vivos Therapeutics' liabilities climbed to $26.7M and operating expenses jumped to $30.4M in 2025 following the Sleep Center of Nevada acquisition. Full-year revenue rose 16%, driven by SCN’s $4.8M uplift in testing and $2.2M in treatment sales, though Q4 provider shortages weighed on quarterly results.
1. Provider Shortages Hit Q4 Sales
The company reported a revenue drop from Q3 to Q4 2025 as a shortage of qualified providers limited productivity, leading to a $1.4M decrease in legacy appliance and tooth positioner sales. Management has recruited additional dentists and anticipates Q1 improvements, with full benefits arriving in Q2.
2. SCN Acquisition Spurs Revenue Growth
Full-year 2025 revenue rose by 16%, driven by the Sleep Center of Nevada acquisition which added $4.8M in sleep testing services and $2.2M in treatment revenue. This growth offset declines in legacy VIP sales and underscored strong patient demand for OSA alternatives to CPAP.
3. Liabilities and Operating Expenses Increase
Total liabilities climbed to $26.7M at year-end 2025, reflecting acquisition-related debt, while operating expenses increased to $30.4M due to higher general and administrative costs under the new business model. These elevated levels will require careful management as the company scales.
4. Strategic Expansion and Future Outlook
To capitalize on momentum, the company is expanding Sleep Optimization teams and securing in-network status with commercial payers and Medicare to boost patient access. Leadership aims to double the revenue run rate by 2027 to achieve cash flow positive operations and leverage a capital-efficient affiliation model for growth.