Vivos 2025 Q3 Earnings Revenue Surges 76% YOY, Net Loss Widens 106%

Vivos (VVOS) reported Q3 2025 results with revenue exceeding expectations but a significant net loss expansion. The 76% year-over-year revenue growth outperformed forecasts, while the 106% increase in net losses highlighted ongoing operational challenges. Management reaffirmed strategic focus on scaling Sleep and Airway Medicine Centers (SAMCs) and emphasized long-term cash flow breakeven as a key objective.

Revenue

Vivos’ total revenue surged to $6.78 million in Q3 2025, a 75.7% increase from $3.86 million in Q3 2024. This growth was driven by the acquisition of The Sleep Center of Nevada (SCN) and the company’s pivot to a medical sleep practice model. Product revenue stood at $2.19 million, with appliances and guides contributing $1.41 million and $790,000, respectively. Service revenue totaled $4.59 million, led by sleep testing services ($2.56 million), treatment centers ($1.32 million), and myofunctional therapy ($205,000). VIP and billing intelligence services added $82,000 and $184,000, respectively, while sponsorship and other activities generated $236,000.

Earnings/Net Income

The company’s losses deepened to $0.49 per share in Q3 2025, a 22.5% wider loss compared to $0.40 per share in Q3 2024. Net loss expanded to $5.40 million, a 106.4% increase from $2.62 million in the prior-year period. The EPS and net loss figures indicate a deteriorating profitability trend despite revenue growth.

Post-Earnings Price Action Review

The strategy of buying Vivos shares on the date of its revenue raise announcement and holding for 30 days yielded positive returns over the past three years, with a cumulative 25.5% gain and a 10.2% maximum drawdown. This suggests a historically robust short-term strategy, though recent volatility—17.19% month-to-date—underscores the stock’s sensitivity to earnings and operational updates.

CEO Commentary

CEO R. Huntsman described Q3 2025 as a “watershed quarter,” emphasizing the SCN acquisition and the shift to a medical sleep practice model. While capacity constraints and upfront costs remain challenges, he expressed optimism about margin improvement as operations scale. Strategic priorities include expanding SAMCs, affiliating with medical groups, and launching pediatric OSA programs.

Guidance

Management projected revenue growth to outpace expenses as new teams reach full capacity, with steady-state contribution margins of 50–60% for SAMCs. While no specific revenue targets were provided, accelerated growth in 2026 is anticipated through expanded teams and market penetration.

Additional News

1. M&A Activity: Vivos completed its $7.5 million acquisition of The Sleep Center of Nevada (SCN) in June 2025, marking a strategic shift from dental-focused distribution to direct medical practice affiliations. SCN contributed $2.2 million in diagnostic testing and $1.3 million in treatment center revenue in Q3.

2. C-Level Changes: Michael E. Bruhn joined as Executive Vice President of Business Operations Integration, and Dr. Terry Jones was appointed Senior Vice President of Human Resources to support expansion and operational integration.

3. Medicare Approval: Vivos’ VidaSleep™ oral appliance received Medicare approval for treating mild to moderate OSA, expanding access to millions of beneficiaries and reinforcing the company’s position in the $36 billion sleep therapy market.