Vivos Therapeutics, Inc. (VVOS) Earnings
Vivos Therapeutics, Inc. is expected to report next earnings on November 18, 2026 (in NaN days), with a consensus EPS estimate of $-0.36. VVOS has beaten EPS estimates in 6 of its last 12 reported quarters (average surprise -21.8% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 14, 2026 | $-0.41 | $-0.31 | +24.4% | $5M | -8.1% |
| May 20, 2026 | $-0.45 | $-0.52 | -15.6% | $5M | +19.4% |
| Nov 19, 2025 | $-0.53 | $-0.49 | +7.5% | $7M | -4.4% |
| Aug 19, 2025 | $-0.27 | $-0.55 | -103.7% | $4M | +4.6% |
| May 15, 2025 | $-0.44 | $-0.45 | -2.3% | $3M | -17.7% |
| Mar 31, 2025 | $-0.43 | $-0.28 | +34.9% | $4M | -4.8% |
| Nov 14, 2024 | $-0.70 | $-0.40 | +42.9% | $4M | -0.7% |
| Aug 14, 2024 | $-1.05 | $-0.60 | +42.9% | $4M | +12.6% |
| May 14, 2024 | $-1.17 | $-1.63 | -39.3% | $3M | +0.3% |
| Nov 14, 2023 | $-3.12 | $-1.75 | +43.9% | $3M | -26.6% |
| Aug 16, 2023 | $-3.75 | $-3.75 | +0.0% | $3M | -18.0% |
| Jun 8, 2023 | $-4.25 | $-5.00 | -17.6% | $4M | -7.1% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q2 FY2026 · August 14, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Strategic Business Pivot - The company completed its fourth full quarter of operations following the June 2025 acquisition of Sleep Center of Nevada (SCN), marking the successful establishment of the new business model focused on owned/affiliated sleep treatment centers instead of the legacy VIP (Vivos Integrated Providers) network. - The new integrated model connects SCN diagnostic centers (which conduct sleep testing and patient consultations) with Vivos SAMC (Sleep and Airway Medicine Centers) that provide full treatment options including CPAP, oral appliances, and Vivos proprietary FDA-cleared devices for all OSA severity levels. This integrated model reduces patient dropout common with fragmented care across multiple independent providers. - Completed Operational Expansion in Q2 2026 - Opened a new, expanded state-of-the-art sleep testing and treatment facility in Henderson, Nevada, doubling local production capacity to support over $10 million in annual output, enabling volume growth as patient demand increases. - Secured positive reimbursement for insomnia EEG testing in the Nevada market, with average test reimbursement of ~$800 per patient, and the program is already seeing rapid growth in patient volume and revenue. - Exceeded early expectations for the pediatric OSA testing and treatment program, with hundreds of children already receiving treatment, and large untapped market potential (estimated 10 million children with sleep breathing disorders in the U.S.). - Achieved a 3-4x increase in patient referral volume from SCN to Vivos SAMC treatment centers immediately following the end of Q2 2026, with financial impact expected in Q3 2026. - Key Upcoming Revenue Initiatives - Remote patient monitoring for existing SCN CPAP patients: 16,000 total legacy CPAP patients, with an estimated 5,000-7,500 eligible patients to enroll over 6-12 months, generating an estimated $40-$50 net revenue per patient per month as a recurring revenue stream. - Wholly owned DME CPAP program: Targeted phased launch in Q4 2026, with an expected $150,000-$250,000 monthly contribution margin at full scale, adding another recurring revenue stream. - Cardiology group affiliations in Arizona and Florida: Negotiations are nearing completion, with each expected fully staffed location generating over $6 million in annual revenue and 40-50% contribution margin at full development, and the model will be replicated across additional future affiliations.
Guidance
- Management projects that the combined impact of current and new growth initiatives will deliver significant material revenue and margin gains in the second half of 2026 and through 2027. - Management expects to reach positive cash flow from operations near the end of 2026 or in early 2027, and to generate significant positive EBITDA for full fiscal year 2027. - Cardiology affiliation partnerships in Arizona and Florida are expected to begin generating revenue in Q1-Q2 2027. - Increased referral volume from SCN to Vivos treatment centers is expected to impact financial results starting in Q3 2026, which management has long expected to be the first quarter with visible improvements from the SCN integration.
Segment performance
For the three months ended June 30, 2026: - Product revenue: $1.4 million (from 5,180 oral appliance arches sold), representing 26.9% of total Q2 2026 revenue. This is a 28% decrease in product revenue compared to Q2 2025, when product revenue was $1.9 million from 4,116 arches sold. The decrease is driven by a shift to lower-priced preformed appliances in the product mix. - Service revenue: $3.8 million, representing 73.1% of total Q2 2026 revenue. This is a $1.9 million increase compared to Q2 2025, driven by $1.5 million in new sleep testing services from the acquired Sleep Center of Nevada (SCN) and $800,000 in patient treatment revenue from SCN locations, partially offset by decreases in VIP enrollment and other miscellaneous service revenue. - Total Q2 2026 revenue: $5.2 million, a 35% increase from $3.8 million in Q2 2025. For the six months ended June 30, 2026: - Product revenue: $2.8 million (from 10,484 oral appliance arches sold), a 24% decrease from $3.7 million in the first half of 2025, again due to the lower-priced preformed appliance mix shift. Product revenue accounts for 27.2% of total H1 2026 revenue. - Service revenue: $7.5 million, a $4.4 million increase from the first half of 2025, driven by $3.5 million in SCN sleep testing services and $1.4 million in SCN patient treatment revenue, offset by a $300,000 decrease in VIP enrollment revenue. Service revenue accounts for 72.8% of total H1 2026 revenue. - Total H1 2026 revenue: $10.3 million, a 51% increase from $6.8 million in the first half of 2025. Other segment financials: Q2 2026 gross profit was $3 million (57% margin), up from $2.5 million (55% margin) in Q2 2025. H1 2026 gross profit was $6 million (58% margin), up from $3.6 million (53% margin) in H1 2025.
Risks & headwinds
- The company had only $1.8 million in cash and cash equivalents as of June 30, 2026, which is insufficient to fund operations and strategic objectives over the next 12 months, raising substantial doubt about the company's ability to continue as a going concern without additional financing. - The company is currently out of compliance with NASDAQ's minimum $2.5 million stockholders' equity requirement. If compliance is not regained, the company will face delisting proceedings, which will distract management and consume additional financial resources. - All new growth initiatives depend on successful execution, regulatory approvals, staffing, payer contracting, facility readiness, patient enrollment, and favorable reimbursement, all of which carry operational and financial uncertainty. Actual results may differ materially from management estimates. - The company has incurred cumulative net losses since inception, with an accumulated deficit of $138 million as of June 30, 2026. Net losses widened to $5.5 million in Q2 2026 from $5 million in Q2 2025, and to $13.3 million in H1 2026 from $8.9 million in H1 2025.
Analyst Q&A
Q: How much capital is required for each of the planned cardiology partnerships in Arizona and Florida, and when can we expect them to start generating revenue?
A: Each partnership requires between $800,000 and $1 million in capital expenditures. They are expected to begin generating revenue in the first half of 2027, between Q1 and Q2.
Q: What is the current quarterly revenue for the new insomnia and EEG testing program, and how is the reimbursement pathway working for the program?
A: Reimbursement for EEG testing has been positive so far, with broad payer participation in Nevada and an average reimbursement of roughly $800 per test. The company is just beginning to refer positive-tested insomnia patients for treatment, so there is not yet clear data on treatment reimbursement, but multiple covered treatment options exist, including Vivos' own oral appliances.