Vivos Therapeutics, Inc. (VVOS) Earnings
Vivos Therapeutics, Inc. is expected to report next earnings on August 18, 2026 (in NaN days), with a consensus EPS estimate of $-0.37. VVOS has beaten EPS estimates in 5 of its last 12 reported quarters (average surprise -28.5% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 20, 2026 | $-0.45 | $-0.52 | -15.6% | $5M | +18.2% |
| 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% |
| Dec 20, 2022 | $-0.28 | $-8.25 | -2846.4% | $4M | +14.1% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 20, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Overall Financial Results * Total Q1 2026 revenue hit $5.1 million, a 70% year-over-year increase from Q1 2025's $3 million and a 34% increase from Q4 2025 revenue, validating the company's strategic pivot away from the legacy VIP dentist model to owning and operating sleep treatment centers. Gross profit increased 103% year-over-year to $3.1 million, and gross margin expanded 10 percentage points to 60% in Q1 2026, reflecting the higher-margin nature of the new business model. * Cost of sales increased 38% year-over-year to $2.1 million, driven primarily by $700,000 in additional staff costs for SCN and the Detroit Sleep Center affiliation. General and administrative expenses rose to $9 million from $4.9 million year-over-year, due to new SCN operating costs, salaries for Vivos Treatment Center personnel, and non-recurring professional fees. - Operational Growth Metrics * Total completed patient appointments rose 72% quarter-over-quarter from 2,438 in Q4 2025 to 4,186 in Q1 2026. Myofunctional therapy visits increased 43% from 337 in January 2026 to 481 in March 2026, and April 2026 saw the company's highest-ever volume of revenue-generating treatment commitment visits. The Henderson, Nevada location will double its production capacity when it comes fully online in June 2026. * Provider productivity is improving through training and experience: total salaries remained flat quarter-over-quarter despite 34% revenue growth, and targeted retraining has delivered dramatic per-provider daily production gains, with one provider increasing average daily production from under $3,000 to over $10,000 in weeks. - Strategic Growth Initiatives * Affiliations with large medical specialty groups (notably cardiologists): The company is fielding widespread inquiries from cardiologists seeking sleep testing and OSA treatment for their at-risk patients, and plans to replicate the SCN business model across these partnerships, creating large new revenue opportunities. * Insomnia and other non-OSA sleep disorder services: Over 40% of OSA patients also have insomnia, and the company is already rolling out testing and treatment for these additional disorders in its Las Vegas locations, which can add $2,000-$3,000 in revenue per patient annually with comparable high margins. * Pediatric OSA treatment program: A successful large clinical trial has validated the program, which delivers net margins over 60% and can generate up to $1 million in annual revenue per site. Revenue generation from the program will begin in July 2026 in Nevada, and it will be included in all future expansions. * The company has partnered with a national firm with sleep medicine licensure and insurance contracts across all 50 U.S. states, granting immediate access to Medicare, Medicaid, and commercial payer plans for future expansions and avoiding the startup insurance access delays experienced in Nevada.
Guidance
- Management expects the current upward trend in patient volume and revenue growth to continue, with full steady-state peak profit margins for the new business model expected to be realized by the end of the 2026 calendar year, ramping up gradually through the year. - The company expects the remaining $100,000 of residual legacy VIP deferred revenue to be fully recognized by the end of 2026, after which VIP revenue will be completely irrelevant to the company's financials. - The company expects to begin generating revenue from its new pediatric OSA treatment program starting in July 2026. - Management confirmed that the temporary headwinds that reduced Q4 2025 revenue (decreased provider office days, insurance access delays) have been corrected and are not expected to recur.
Segment performance
1. Product segment (appliances and tooth positioners for legacy Vivos Integrated Provider (VIP) dentists): Total Q1 2026 revenue was $1.4 million, representing a 21% year-over-year decrease from $1.8 million in Q1 2025. This segment contributed 27.5% of total Q1 2026 revenue. The decline came from a $900,000 drop in oral appliance sales offset partially by a $500,000 increase in tooth positioner sales, higher discounting ($500,000 in Q1 2026 vs $200,000 in Q1 2025), and a shift to more lower-priced products. 5,304 total units were sold in Q1 2026, compared to 3,735 units in Q1 2025. VIP enrollment revenue decreased by $200,000 year-over-year, with no new VIP enrollments in the quarter, and only $100,000 of residual deferred VIP revenue remaining on the balance sheet. 2. Sleep testing and OSA treatment services (from acquired Sleep Center of Nevada (SCN) locations): This is the company's new growth segment, with revenue increasing $2 million year-over-year in Q1 2026. Total revenue from OSA patient treatment at the two SCN locations added an additional $900,000 in revenue. This segment contributed 72.5% of total Q1 2026 revenue, driving 70% year-over-year and 34% quarter-over-quarter total company revenue growth.
Risks & headwinds
- As of March 31, 2026, the company only holds $2.1 million in cash and cash equivalents, and will require additional financing to meet near-term and long-term cash needs, as well as to boost stockholders' equity to comply with NASDAQ listing requirements. - Current revenue growth has not yet outpaced operating expenses, partially due to dentist shortages and ongoing insurance in-network access issues during the SCN integration process. - The company is actively working to restructure senior debt to reduce debt service obligations, but there is no guarantee this restructuring will be completed on acceptable terms. - All forward-looking statements are inherently subject to significant risks and uncertainties, many outside the company's control, that could cause actual results to differ materially from projected outcomes. Key risks are detailed in the company's SEC filings, including the Q1 2026 Form 10-Q and 2025 Form 10-K.
Analyst Q&A
Q: Will the jump to higher margins under the new business model happen as an immediate step function or a gradual ramp, and when will peak steady-state margins be reached? /
A: Management stated margin improvement will be a gradual ramp rather than an immediate step function. For established markets with fully trained and experienced provider teams, full peak margins are projected to be realized by the end of the 2026 calendar year, with gradual improvement throughout the year.
Q: How much residual deferred VIP revenue remains on the balance sheet, and when will this legacy revenue become irrelevant to the company's financials? /
A: Management confirmed only $100,000 of total residual deferred VIP revenue remains, and this amount is already irrelevant to current operating performance. All remaining deferred VIP revenue will be fully recognized by the end of 2026.