Vivos Therapeutics, Inc. (VVOS) experienced a decline of 9.61% in the aftermarket following the announcement of the company’s participation at the Benzinga Global Small Cap Conference. However, the last trading session concluded at $2.29 with a decrease of 8.03%.
Benzinga Global Small-Cap Conference – What’s up?
VVOS announced on 3rd December 2021 that the company’s chairman i.e., Kirk Huntsman, and chief financial officer i.e., Brad Amman will present at a conference taking place on 9th December 2021 on Thursday. The conference will begin at 1.55 p.m. EST.
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Third Quarter 2021 Results – How’s the quarter?
On 15th November 2021, VVOS reported third-quarter 2021 results. The company noticed a revenue of $4.5 million in the third quarter of 2021. Moreover, the gross margin came out to be 70%, compared to 78% in the third quarter of 2020, while the first nine months of 2021 had a gross margin of 76 percent, compared to 79 percent in the first nine months of 2020. This reflected greater expenditures related to VIP enrollments. Last but not least, cash and cash equivalents totaled $28.5 million.
The third quarter saw numerous encouraging developments for VVOS. The year-over-year growth was significant, indicating what the company believes is rising awareness and adoption of Vivos System as a therapy. During the quarter, the sales growth, particularly in appliances, started to show the impact of previously stated strategic growth objectives, such as enhanced sales and marketing operations, which included the broad rollout of VivoScore diagnostic program.
Strategic Collaboration of VVOS and Candid
On 19th October 2021, VVOS announced a new partnership to give patients a full, whole-mouth solution for diagnosing and treating OSA in adults, as well as orthodontic treatment from the same provider network. Vivos and Candid will collaborate to explore new device development research and development prospects.
VVOS and Candid will advertise one other’s goods and areas of expertise in order to provide patients in the United States and Canada with a holistic sleep and dental health solution. Furthermore, the VVOS System for treating OSA and Candid’s CandidPro clear aligner for aligning teeth will be the focus of the partnership. Lastly, to bridge the gap between airway health and orthodontic therapy, the two firms will exchange instructional resources, coaching, and key opinion leaders.
VVOS hopes that by partnering with Candid, they will be able to offer patients not just a very successful Vivos System, but also CandidPro’s unique orthodontic therapy. Moreover, they anticipate that the Vivos-Candid cooperation will result in the first solution that seamlessly integrates sleep and orthodontic treatments to improve patient results for OSA treatment and overall health and wellness.
As they both extend their respective North American dentistry and healthcare networks, the team expects that this collaborative endeavour will boost market penetration and accelerate revenue growth for both firms.