Vivos 2025 Q3 Earnings Revenue Surges 76% YoY Amid Deepening Net Loss

Vivos Therapeutics (VVOS) reported Q3 2025 results showing a 76% year-over-year revenue increase to $6.78 million, driven by the acquisition of The Sleep Center of Nevada. However, the net loss widened to $5.40 million, or $0.49 per share, reflecting operational costs from its new medical practice model. The stock price declined 17.19% month-to-date following the earnings release, underscoring investor concerns over profitability.

Revenue

Product revenue accounted for $2.19 million, with appliances contributing $1.41 million. Services revenue totaled $4.59 million, led by sleep testing services ($2.56 million) and treatment centers ($1.32 million). Additional segments included VIP enrollments ($82,000), billing intelligence ($184,000), and myofunctional therapy ($205,000). The acquisition of The Sleep Center of Nevada added $2.2 million in diagnostic testing and $1.3 million in treatment center revenue, validating the company’s strategic shift toward direct medical practice affiliations.

Earnings/Net Income

The net loss of $5.40 million represented a 106.4% increase from the prior year, driven by higher operating expenses ($8.7 million) and a 58% gross margin. Despite revenue growth, the EPS of -$0.49 (worsening from -$0.40) highlighted ongoing financial challenges as the company scales its new business model. The deepening loss underscores the trade-off between expansion costs and near-term profitability.

Post-Earnings Price Action Review

Following the earnings report, Vivos’ stock price declined 17.19% month-to-date, reflecting investor skepticism about the company’s ability to achieve cash flow breakeven. The stock edged down 2.07% on the day of the announcement and dropped 6.35% in the subsequent week. Analysts noted that while the revenue growth validates the strategic pivot to medical sleep centers, the widening net loss and rising cash burn remain critical hurdles. The

CEO Commentary

CEO R. Huntsman described Q3 2025 as a “watershed quarter,” emphasizing the success of acquiring medical sleep practices and establishing Sleep and Airway Medicine Centers (SAMC). He highlighted that two-thirds of Las Vegas patients prefer Vivos’ treatments over CPAP, with average case revenue exceeding $5,000. Challenges include scaling operations due to provider licensing delays, but strategic priorities include expanding pediatric OSA programs and affiliations with medical groups. Huntsman expressed confidence in the model’s scalability and reducing cash burn through higher-margin SAMC operations.

Guidance

Management expects revenue growth to outpace expenses in coming quarters as new teams deploy, with a 6-month timeline to optimize provider capacity and reach 50%-60% contribution margins. CFO Brad Amman noted revenue recognition via product sales as principal in transactions and profit-sharing in alliances. While no specific revenue or EPS targets were provided, the company anticipates accelerated growth from expanded SAMC teams, pediatric programs, and partnerships with specialty medical groups.

Additional News

1. Acquisition of The Sleep Center of Nevada (SCN): Vivos completed the $6 million cash and $1.5 million stock acquisition in June 2025, marking a strategic shift to direct patient care. SCN contributes $2.2 million in diagnostic testing and $1.3 million in treatment center revenue, validating the new business model.

2. Medicare Approval for VidaSleep™: Vivos received CMS approval for its VidaSleep™ oral appliance to treat mild to moderate OSA in adults, expanding access to Medicare beneficiaries and positioning as the only company with two Medicare-covered oral appliances.

3. Conference Call and Strategic Updates: The company hosted a November 19, 2025, call to discuss Q3 results and operational updates, including progress on provider credentialing and integration of SCN.