Vivos Therapeutics Q2 revenue rises 35% on service growth
Vivos Therapeutics Q2 revenue rises 35% on service growth
Overview
U.S. sleep apnea device maker's Q2 revenue rose 35% yr/yr, driven by service growth
Gross margin improved to 57% from 55% a year ago on higher revenue
Q2 operating loss was flat at $4.8 mln as expenses rose with expansion
Outlook
Company expects continued revenue growth driven by increased patient volume and provider referrals
Vivos anticipates further benefits from pending partnerships with large cardiology groups in Florida and Arizona
Result Drivers
SERVICE REVENUE - Co said Q2 revenue growth was driven by service revenue, mainly from sleep testing and treatment services in Nevada
PATIENT AND REFERRAL GROWTH - Co reported significant increases in patient volume and physician referrals, including from insomnia/EEG and pediatric programs
EXPANDED OPERATIONS - Co cited expanded facilities, increased provider count, and new referral/service initiatives as contributing to higher revenue
Company press release: ID:nGNX5xJq1j
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| $5.2 mln |
|
Q2 Net Loss |
| $5.52 mln |
|
Q2 Gross Profit |
| $2.95 mln |
|
Q2 Operating Income |
| -$4.83 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"
Wall Street's median 12-month price target for Vivos Therapeutics Inc is $2.50, about 718.9% above its August 13 closing price of $0.31
Reuters Recommended Reads
Aug 13 - Aveanna Healthcare Q2 revenue beats on broad-based growth
Aug 13 - Canada's NeuPath Health Q2 revenue falls despite record patient visits
Aug 12 - Sera Prognostics Q2 revenue rises on expanded partnerships and Medicaid coverage
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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Vivos Therapeutics Inc reports results for the quarter ended June 30 - Earnings Summary
Vivos Therapeutics Q2 revenue rises 35% on service growth