RDGLOTCSurgical & Medical Instruments & ApparatusUS GAAP · USD

Vivos Inc

Vivos Inc. is a U.S.-based radiation oncology medical device company focused on yttrium-90 (Y-90) precision radionuclide therapy technologies for treating non-resectable tumors. Its core platform includes RadioGel™ and related brachytherapy and isotope-based products developed for use in human and animal cancer treatment.

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Revenue0.1m USD
+144.3 %y/y
Operating profit (EBIT)-3.2m USD
−21.5 %y/y
EBIT margin-4,628.7%
+4,674.3 ppy/y
Net income-3.1m USD
−5.3 %y/y
Free cash flow-2.2m USD
−28.3 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

-4-3-2-101m USD2020: 0.01 m USD2020: EBIT -0.67 m USD20202021: 0.01 m USD2021: EBIT -2.5 m USD20212022: 0.04 m USD2022: EBIT -2.5 m USD20222023: 0.02 m USD2023: EBIT -2.8 m USD20232024: 0.03 m USD2024: EBIT -2.6 m USD20242025: 0.07 m USD2025: EBIT -3.2 m USD20250.07-3.2
RevenueOperating profit (EBIT)
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Business

Share of revenue
Precision radionuclide therapy devices55 %

Y-90 based devices and therapies designed to deliver radiation to non-resectable tumors.

Animal therapy procedures35 %

IsoPet® treatments administered through veterinary and clinic settings.

Research and development services10 %

Development work on new isotope technologies and future cancer applications.

Products

Reported · share of revenue
52.7%32.7%13.8%FY2025100 %
  • Iso Pet52.7 %
  • Services Treatments32.7 %
  • Certification13.8 %
  • Polymer0.4 %
  • Freight0.4 %

Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

The company sells into oncology and veterinary treatment settings that use isotope-based therapies for tumors and other cancers. Its customer base includes clinics, physicians, and treatment partners that adopt the technology for either human oncology or animal therapy applications. Commercialization also depends on third-party manufacturing, distribution, licensing, and partnership arrangements.

Veterinary clinics and animal therapy centers

Buy or administer IsoPet® procedures for animal tumor treatment and related oncology care.

Human oncology clinics and hospitals

Potential future buyers of RadioGel™ and other precision radionuclide therapies for non-resectable tumors.

Clinical research and regulatory partners

Support studies, approvals, and evidence generation needed for broader commercialization.

Manufacturing and commercialization partners

Provide outsourced production, sales, distribution, and licensing capabilities.

Strategy

Vivos’ strategy centers on advancing regulatory approval for its Y-90 precision radionuclide therapy platform and expanding the clinical use of IsoPet® and related products. It also plans to rely on licensing, partnerships, and outsourced manufacturing and distribution to commercialize the technology in the U.S. and abroad.

Secure regulatory clarity and approvalsShort term

FDA classification and approval timing determine the path to human commercialization.

Build recurring clinical usageMedium term

Broader clinic adoption is needed to scale IsoPet® and future therapy revenue.

Establish commercialization partnersMedium term

Third-party manufacturing and licensing reduce the need for a large internal sales force.

Geography

Vivos is headquartered in Washington State in the United States, and its current commercial activity has been concentrated in the Northwestern U.S. The company also describes a broader U.S. animal therapy marketing effort and a longer-term plan to pursue international approvals and licensing outside the United States.

Risks

The business depends on regulatory outcomes, clinical evidence, and the ability to fund development until commercialization scales. It also faces financing risk, execution risk in outsourced manufacturing and distribution, and the normal adoption risk of a specialized medical device platform in a regulated healthcare market.

Sorted by severity
Financing and going-concern riskCritical

The company has limited revenue and relies on external capital to fund operations.

Exposure: Working capital and development funding

Regulatory approval riskHigh

Commercialization depends on FDA classification and possible additional studies.

Exposure: RadioGel™ and other precision radionuclide therapies

Commercialization execution riskHigh

Success depends on third-party manufacturing, sales, distribution, and licensing.

Exposure: U.S. and international rollout

Clinical adoption riskMedium

Hospitals and clinics may adopt the therapy slowly without strong evidence and approvals.

Exposure: Human oncology and veterinary markets

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Accounting

Judgemental items
Revenue recognition

Small revenue base makes timing of procedure-based and product-related revenue important.

Impact: Can create quarter-to-quarter volatility in reported sales

Inventory and cost of goods sold

Hydrogel inventory and treatment usage affect when costs are recognized.

Impact: Can shift gross margin and cost timing across periods

Stock-based compensation

Included within professional fees and can materially affect operating expense.

Impact: Raises reported operating costs without cash outflow

Going-concern assessment

Limited cash and recurring losses require management judgment about continuation.

Impact: Affects disclosure and investor assessment of solvency risk

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Last updated: 29/04/2026