Vivos Therapeutics, Inc.
Vivos Therapeutics, Inc. develops and commercializes oral appliance-based therapies and related clinical protocols for obstructive sleep apnea and other sleep-disordered breathing conditions. The company works through trained dental and medical providers and also operates sleep and airway medicine centers that support diagnosis, treatment, and patient management in the United States.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueCustom oral devices used in sleep apnea and airway treatment protocols.
VIP enrollments, training, and support services for provider networks.
Diagnostic, consulting, and treatment services delivered through managed centers.
Additional therapies, technical support, and patient-care services tied to the platform.
Products
Reported · share of revenue- Sleep Testing Services34.6 %
- Appliances18.8 %
- Tooth Positioners18.4 %
- Treatment Centers12.5 %
- Sponsorship Seminar Other7.0 %
- Other8.6 %
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 to dental practices, sleep medicine providers, and medical professionals who use its appliances and protocols to treat obstructive sleep apnea and related airway conditions. It also serves patients through managed sleep and airway medicine centers, where diagnostics and treatment pathways can be coordinated with provider networks.
Independent dentists that enroll to prescribe and support Vivos oral appliance therapy and related services.
Managed centers that provide diagnostics, consulting, and treatment pathways for sleep-disordered breathing.
Physicians and advanced practice clinicians who participate in center-based sleep care and referrals.
End users receiving appliance-based therapy, diagnostics, and adjunctive treatment services.
Strategy
The company is shifting from a provider-enrollment model toward owning or partnering with sleep and airway medicine centers that can generate diagnostics, consulting, and appliance revenue together. It is also pursuing acquisitions and strategic alliances to expand patient flow, broaden distribution, and build a more integrated care platform around its oral appliance therapies.
Owning or managing centers can create more direct patient access and additional revenue streams.
Partnerships can increase patient volume and broaden distribution without relying only on VIP recruitment.
Clinical evidence supports provider adoption, payer acceptance, and regulatory credibility.
Geography
Vivos is primarily a United States business, with product commercialization, provider training, and sleep-center operations centered in the U.S. The company has also referenced international treatment experience and distribution collaborations, including a Middle East-North Africa channel, but those initiatives are not yet a major revenue base.
Risks
Vivos faces execution risk as it transitions to a new operating model that depends on acquisitions, alliances, and center integration rather than the legacy VIP channel. The business also carries financing, Nasdaq compliance, reimbursement, regulatory, and trade-sourcing risks that can affect its ability to operate, scale, and convert clinical demand into revenue.
- Liquidity and financing riskImpact: CriticalLikelihood: High
The company has indicated it needs additional capital to fund operations and strategic objectives.
Exposure - Transition to a new sales and distribution model may failImpact: HighLikelihood: High
The company is moving away from VIP recruitment toward center-based care, which has limited operating history.
Exposure - Acquisition and integration riskImpact: HighLikelihood: High
Integrating sleep centers can be costly and operationally disruptive, affecting patients, staff, and standards.
Exposure: Sleep Center of Nevada and future acquisitions
- Regulatory and fee-splitting riskImpact: HighLikelihood: Medium
Managed medical arrangements must comply with state corporate practice and fee-splitting laws.
Exposure: Center operations and physician arrangements
- Nasdaq listing and equity requirement complianceImpact: High
Failure to maintain compliance could impair stock liquidity and capital raising ability.
Exposure: Public market access
- Reimbursement and payer policy riskImpact: MediumLikelihood: High
Coverage decisions and reimbursement rates affect the economics of sleep testing and treatment.
Exposure: Diagnostics and treatment services
Accounting
Judgemental itemsAppliance sales, enrollments, and service contracts may recognize revenue at different times.
Impact: Affects quarterly revenue mix and comparability
Deferred service revenue is recognized as performance obligations are satisfied.
Impact: Can shift revenue between periods
Internal-use software spending is capitalized and later amortized.
Impact: Affects operating expense timing and asset balances
Center acquisitions may create goodwill and identifiable intangibles requiring future impairment testing.
Impact: Could materially affect balance sheet and earnings
Liquidity assumptions and financing plans influence financial statement presentation and investor assessment.
Impact: Important for solvency and valuation analysis
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Last updated: 24/09/2026