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Kirk Huntsman, Vivos’ Chairman and Chief Executive Officer, stated, “Today, we reported solid second quarter results as we continued to leverage our broad portfolio of innovative products, and our proprietary core technology and treatment protocols that offer highly effective treatment alternatives for OSA patients. Vivos’ second quarter results included a 19% increase in revenue, both from the first quarter and on a year over year basis. In addition to sequential sales growth, this marked our eighth consecutive quarter where we have reported lower operating expenses on a year over year basis, reflecting the sustained success of our cost-cutting initiatives.”

“Importantly, during the second quarter we announced a new marketing and distribution model based on contractual alliances with medical sleep specialists. This model is designed to better align our interests with referring medical professionals, dentists and sleep treatment providers. We expect this model will substantially expand the number of OSA patients who have access to our full scope of evidence-based products and methods, make our revenue less reliant on VIP enrollments, and build on the other revenue initiatives we’ve been implementing over the past several quarters. As we continue to move more directly and vertically into affiliations and collaborations with medical specialists, functional medicine doctors, and other sleep-related healthcare practitioners, we expect this to positively impact our new case starts, revenue growth and gross profit, while reducing our customer acquisition and related overhead costs.”

Mr. Huntsman continued, “As part of this new model, during the quarter we entered into a strategic marketing and distribution alliance with an operator of multiple sleep testing and treatment centers in Colorado. We began to see patients from this operator in late July and the fourth quarter will be our first full quarter of operations from this new relationship. This is an important milestone for Vivos, and we believe it represents the first in a similar series of alliances that we intend to launch nationwide. Related to this, in the second quarter we also completed a $7.5 million private equity-led investment from New Seneca Partners, who helped us develop our new alliance model over nine months of due diligence and who will also work with us going forward as an advisor to help bolster our growth prospects. We are thrilled to be working with Seneca and appreciate their belief and support for our vision.”

“In summary, our entire team is committed to ensuring this new business model is successful and to maximizing our relationships with our new collaborators. We believe this comprehensive model will expand our boundaries beyond the world of dentistry and offer us greater exposure to a larger base of sleep medicine practitioners, providing us access to a larger pool of patients. Further, we believe this model will complement our other revenue initiatives. Combined, we anticipate that all of these actions we have taken will drive greater revenue, make Vivos cash flow positive and in the long-term help Vivos to reach profitability. In the end, what drives our success is this: Vivos offers adult patients who suffer from OSA an effective, safe, and non-surgical solution for all severities of this debilitating condition. Our solutions work, and when patients are presented with all the facts, data from our studies have shown time and time again that these patients will most often choose Vivos,” Mr. Huntsman concluded.

Vivos encourages investors and other interested parties to join its conference call today at 5:00 p.m. Eastern time (details below), where management will discuss further details on topics including: (i) Vivos’ new collaboration initiatives described herein, expanded product line and revenue potential, (ii) an update on Vivos’ durable medical equipment and other sales and marketing efforts; (ii) additional programs for dentists to enroll with Vivos, and (iv) Vivos’ current cash position and actions taken to reduce expenses and remain compliant with Nasdaq listing standards.

In addition, further information on Vivos’ financial results is included on the attached unaudited condensed consolidated balance sheets and statements of operations, and additional explanations of Vivos’ financial performance are provided in the Vivos’ Quarterly Report on Form 10-Q for the three and six months ended June 30, 2024, which will be filed with the Securities and Exchange Commission (“SEC”). The full 10-Q report will be available on the SEC Filings section of the Investor Relations section of Vivos’ website at https://vivos.com/investor-relations.

Conference Call

To access Vivos’ investor conference call, please dial (800) 717-1738, or for international callers, (646) 307-1865. A replay will be available shortly after the call and can be accessed by dialing (844) 512-2921, or for international callers, (412) 317-6671. The passcode for the live call and the replay is 1157721. The replay will be available until August 28, 2024.

A live webcast of the conference call can be accessed on Vivos’ website at https://vivos.com/investor-relations. An online archive of the webcast will be available on the Company’s website for 30 days following the call.

About Vivos Therapeutics, Inc.

Vivos Therapeutics, Inc. (NASDAQ: VVOS) is a medical technology company focused on developing and commercializing innovative diagnostic and treatment methods for patients suffering from breathing and sleep issues arising from certain dentofacial abnormalities such as obstructive sleep apnea (OSA) and snoring in adults. The Vivos Method represents the first clinically effective nonsurgical, noninvasive, nonpharmaceutical, and cost-effective solution for treating mild to severe OSA. It has proven effective in over 45,000 patients treated worldwide by more than 2,000 trained dentists.

The Vivos Method includes treatment regimens that employ proprietary CARE appliance therapy and other modalities that alter the size, shape, and position of the jaws and soft tissues that comprise a patient’s upper airway and/or palate. The Vivos Method opens airway space and may significantly reduce symptoms and conditions associated with mild-to-severe OSA in adults, such as lowering Apnea Hypopnea Index scores. Vivos also markets and distributes SleepImage diagnostic technology under its VivoScore program for home sleep testing in adults and children. The Vivos Integrated Practice (VIP) program offers dentists training and other value-added services in connection with using The Vivos Method. Vivos also employes a marketing and distribution model where it collaborates with sleep-treatment providers to offer patients OSA treatment options and help promote sales of its appliances.

For more information, visit www.vivos.com.

Cautionary Note Regarding Forward-Looking Statements

This press release, the conference call referred to herein, and statements of the Company’s management made in connection therewith contain “forward-looking statements” (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events. Words such as “may”, “should”, “expects”, “projects,” “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates”, “goal” and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve significant known and unknown risks and are based upon several assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond Vivos’ control. Actual results (including the actual results of the initiatives described herein on Vivos’ future revenues and results of operations or the anticipated benefits of the Company’s new marketing and distribution model described herein) may differ materially and adversely from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to: (i) the risk that Vivos may be unable to implement revenue, sales and marketing strategies that increase revenues, (ii) the risk that some patients may not achieve the desired results from using Vivos’ products, (iii) risks associated with regulatory scrutiny of and adverse publicity in the sleep apnea treatment sector; (iv) the risk that Vivos may be unable to secure additional financings on reasonable terms when needed, if at all or maintain its Nasdaq listing and (v) other risk factors described in Vivos’ filings with the Securities and Exchange Commission (“SEC”). Vivos’ filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, Vivos expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Vivos’ expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based.

Vivos Investor Relations and Media Contact:
John Lee
EVP, Marketing
714-417-0317
jlee@vivoslife.com

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