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- **Strategic Pivot Success**: SCN acquisition generated $500k revenue in 20 days, with 1.5 SO teams processing 250 patients/month.
- **Financial Transition**: Q2 operating loss of $4.9M driven by $1.8M one-time costs, but $11.5M financing provides liquidity.
- **Growth Catalysts**: Targeting 8 SO teams by 2026, with Michigan expansion under new collaboration model.
- **Cash Flow Target**: Aiming for Q4 2025 cash flow breakeven as SO teams scale.

**【CFO Financial Overview】**
- Q2 2025 revenue decreased 6% to $3.8 million due to strategic pivot away from legacy VIP enrollment model, offset by $500,000 sleep testing revenue from SCN acquisition.
- Operating loss widened to $4.9 million due to $1.8 million in one-time acquisition costs (legal fees, salaries, infrastructure) and $600,000 product discounts.
- Cash flow improved with $11.5 million in financing from Seneca Partners, but cash reserves remain at $4.4 million.

**【CEO Strategic Pivot】**
- Acquired The Sleep Center of Nevada (SCN) in June 2025, generating $500,000 revenue in 20 days post-close.
- Deployed 1.5 Sleep Optimization (SO) teams capable of processing 250 patients/month, targeting 8 teams by 2026 with $500k+ monthly net collections per team.
- Patient demand exceeds capacity, with <40% of tested patients currently treated.
- Expanded into Michigan with MISleep LLC under new collaboration model, planning 1 SO team deployment by Q4.

**【Q&A Highlights】**
- **Revenue Growth**: Q3/Q4 revenue will track SO team deployment, with product sales growth driven by SCN referrals.
- **Operating Expenses**: $700k-$800k of Q2 OpEx were one-time acquisition costs; recurring expenses include $500k in salaries and $300k in infrastructure.
- **Recruitment**: SO teams recruited and trained in ~6-8 weeks, with strong candidate pipeline.
- **Debt Strategy**: Seeking to refinance high-cost debt as model matures; targeting cash flow breakeven by Q4 2025.
- **Market Expansion**: Multiple acquisition prospects in pipeline, including one under exclusive LOI.

Vivos Therapeutics (VVOS)-19 Aug 25-2025 Q2 Earnings call transcript

- **Strategic Pivot Payoff**: Sleep Center of Nevada acquisition to generate $4.5M+ monthly revenue by Q3 2025, with 50%+ margins.
- **Growth Catalysts**: 87% YoY arches shipped growth; 70%+ patient conversion rate in controlled clinical settings.
- **Financial Fix**: $7.5M senior loan and $1.5M equity close SCN deal; expect Q3 cash flow breakeven.
- **Risk Mitigation**: Diversified pipeline of 3+ acquisition targets; proven 71% patient adoption rate in existing partnerships.

**【CEO Strategic Update】**
- Transitioned from VIP enrollment model to acquiring sleep centers, with the acquisition of Sleep Center of Nevada (SCN) expected to close in Q2 2025.
- SCN processes ~3,000 sleep apnea patients/month, with 90% testing positive for OSA. Vivos aims to convert 70%+ of these patients to its appliances, generating ~$4,500/revenue per case.
- SCN is projected to be accretive to cash flow by Q3 2025, with net contribution margins >50%.
- Actively pursuing additional acquisitions, including larger deals than SCN, to replicate the SCN model nationwide.

**【CFO Financial Highlights】**
- Q1 2025 total revenue: $3.0M (down 12% YoY), driven by 8% growth in product sales (3,736 arches shipped vs. 1,996 YoY) offset by $700K decline in VIP service revenue.
- Gross profit: $1.5M (50% margin), down 21% YoY due to lower service revenue.
- Operating expenses: $5.3M (down 5% YoY), with $300K reduction in sales/marketing costs.
- Net loss: $3.9M (stable YoY), with cash burn of $3.8M vs. $2.5M YoY.
- Secured $7.5M senior loan and $1.5M equity infusion to close SCN deal; ~$2.3M cash on hand as of Q1 end.

**【Q&A Key Takeaways】**
- SCN integration: 100+ patient bookings already secured for June 2025; expects Q3 revenue lift from diagnostic services and appliance sales.
- Rebis Health partnership: Underperformed due to internal management issues, but validated 71% patient conversion rate to Vivos appliances.
- Cost structure: One-time expenses for SCN integration (~$1.5M in Q3) will be offset by higher-margin direct-to-patient model.
- Valuation rationale: $9M purchase price reflects SCN's 3,000/month patient volume, 50%+ net margin potential, and alignment with Vivos' long-term growth strategy.

Vivos Therapeutics, Inc. (VVOS) Q1 2025 Earnings Call Transcript

- **Revenue Transformation**: 26% product revenue growth driven by appliance sales, operating loss reduced by 35% through cost cuts.
- **High-Margin Model**: New sleep center partnerships target 70% patient conversion to Vivos, generating $4,500+ per case with 50%+ margins.
- **Market Expansion**: Middle East expansion exceeds forecasts; U.S. M&A pipeline includes 2,500+ sleep centers for ~$38M annual revenue per 1,000-patient affiliation.
- **Financial Strength**: $6.3M cash on hand, $17.9M raised in 2024, positioning for 2025 growth and M&A execution.

**【CEO Business Model Pivot Overview】**
- **Revenue Growth & Cost Efficiency**: 2024 product revenue increased 26% to $7.9M, while operating expenses decreased 21%, reducing the annual operating loss by 35%. The shift from VIP enrollment to high-margin appliance sales drove this improvement.
- **Strategic Alliances & Acquisitions**: Launched a new model with Rebis Healthcare, targeting sleep testing centers to access ~1,000 newly diagnosed OSA patients/month. This model aims to convert 70% of patients to Vivos treatment, generating $4,500+ per case with 50%+ contribution margins.
- **Market Expansion**: Entered the Middle East with regulatory approvals in 8+ countries, exceeding sales forecasts. Plans to announce additional U.S. affiliations in 2025.

**【CFO Financial Highlights】**
- **2024 Financials**: Total revenue $15M (9% YoY growth), gross margin maintained at 60%. Operating loss reduced to $11.2M (35% YoY decline). Ended with $6.3M cash, up from $1.6M in 2023, supported by $17.9M in equity raises.
- **Cost Optimization**: G&A expenses decreased 20% to $17.9M, driven by workforce reductions and cost-cutting initiatives. Sales & marketing expenses reduced 32% to $1.7M.
- **Liquidity & Financing**: Raised $17.9M through equity, including a $7.5M strategic investment from New Seneca Partners. Anticipates additional financing for M&A activities.

**【Q&A Key Takeaways】**
- **Rebis Collaboration Incentives**: Rebis Healthcare partners benefit from differentiated patient care, new revenue streams, and addressing high patient churn from CPAP non-compliance. Vivos provides ~70% patient conversion to Vivos treatment, enhancing Rebis' profitability.
- **2025 Growth Outlook**: Expect accelerated revenue from Rebis expansion (3 locations in Colorado) and pipeline of 2,500+ sleep centers. Each 1,000-patient/month affiliation could generate $38M annual revenue with $19M net profit.
- **Business Model Transition**: Shifting from dentist-led sales to sleep center partnerships reduces reliance on low-margin VIP enrollments. Adjunctive services (e.g., diagnostic testing) could add $1,000-$2,500 per case, further boosting margins.


Vivos Therapeutics, Inc. (VVOS) Q4 2024 Earnings Call Transcript

Vivos Therapeutics (VVOS)-14 Nov 24-2024 Q3 Earnings call transcript

Vivos Therapeutics (VVOS)-14 Aug 24-2024 Q2 Earnings call transcript

Vivos Therapeutics (VVOS)-14 May 24-2024 Q1 Earnings call transcript

Vivos Therapeutics (VVOS)-28 Mar 24-2023 Q4 Earnings call transcript

- **Strategic Expansion**: New partnerships with Lincare, Ormco, and NOUM to tap 10M+ CPAP non-compliant patients.
- **Cost Efficiency**: 32% YoY expense reduction to $4.6M, enabling $2.1M net loss (vs $5.4M YoY).
- **Recovery Signals**: Q4 Boost/Kickoff programs achieve 90%+ case closure in pilot offices, with Lincare targeting 1% of 10M patients.
- **Financial Health**: $4M private placement and $1M cash as of Q3, with 2024 cash flow positivity target.

**【CEO Opening Remarks】**
- Announced strategic partnerships with Lincare (DME company serving 2M patients), Ormco (dental device supplier), and NOUM (Middle East distributor), aiming to expand patient referrals and revenue channels.
- Highlighted cost-cutting measures resulting in a 32% year-over-year reduction in operating expenses, though noting these led to a 26% Q3 revenue decline to $3.3M (from $4.2M YoY).
- Emphasized Q4 recovery efforts, including Boost/Kickoff programs (corporate teams assisting dentists in patient conversions), which achieved 90%+ case closure rates in pilot offices.
- Projected cash flow positivity by end-2024, contingent on $4M private placement and additional capital raises.

**【CFO Financial Commentary】**
- Q3 2023: Revenue $3.3M (-26% YoY), driven by 33% drop in oral appliance sales ($1.5M vs $2.2M YoY) and 37% decline in VIP enrollments ($1M vs $1.6M YoY).
- Gross margin stable at 57%, but operating expenses down 32% to $4.6M (from $6.6M YoY), reflecting staff reductions and vendor cuts.
- Net loss narrowed to $2.1M (-61% YoY), with cash burn reduced to $9.2M (vs $16.6M YoY) over 9 months.
- Ended Q3 with $1M cash, supplemented by $4M private placement in November.

**【Q&A Highlights】**
- **G&A Run Rate**: CFO expects Q4 G&A ~$4.6M (flat vs Q3), with ongoing cost optimization tied to revenue performance.
- **Revenue Catalysts**: CEO cited DME partnerships (e.g., Lincare targeting 1% of 10M+ CPAP non-compliant patients), Boost/Kickoff programs, and FDA-cleared device pipeline.
- **Sleep Testing Growth**: CFO noted 300% YoY growth in ring lease revenue ($300K vs $100K), signaling expanded testing network but requiring better conversion to treatments.
- **Conversion Potential**: CEO estimated 1% of 10M+ CPAP non-compliant patients could generate $100M+ in annual revenue, with Lincare pilot showing 30%+ conversion rates.

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