Recent VVOS transcripts
Associated VVOS filings
Kirk Huntsman | Chairman and CEO |
Brad Amman | CFO |
Julie Gannon | IRO |
Chase Knickerbocker | Craig-Hallum Capital |
Good day, everyone, and welcome to the Vivos Therapeutics Fourth Quarter and Full Year 2021 Earnings Conference Call. At this time, participants are in a listen-only mode. A question-and-answer session will follow management's remarks. This conference call is being recorded and a replay of today's call will be available on the Investor Relations section of Vivos Web site and will remain posted there for the next 30 days. I'll now hand the call over to Julie Gannon, Vivos' Investor Relations Officer for introductions and the reading of the Safe Harbor statement. ahead. go Please
on year Hello, and fourth operator. call. Huntsman, quarter us welcome the Chief www.vivos.com. is to copy our section Thank site Web we'll Today, Financial and everyone, Kirk and full Therapeutics at available release as financial press quarter our for conference Investor Executive year Vivos Relations fourth Vivos' of XXXX highlights of the you, With earnings and results the XXXX A today's full more on are Officer; as Chief and Officer. review Chairman call recent and Amman, well the Brad developments. earnings
contain events. may, and will are to addressed known those statements. differ call, I of Factors number believes, management which forward-looking and our forward-looking operational within include, this these actual in and results, formal as to which differ growth These of statements the the operations, that Vivos' and like assumptions results made site. Following identify involve of Exchange projects, statements. many XXXX expressions variations risks and XXA XX-K, by Section contained cause no Investor change. unknown section inherently are are amended, should, plans, aim, materially a to results risk and Act meaning Vivos could such not as Act which such to law, described statements are similar Section implied amended, Relations Vivos will of of circumstances Commission, disclosures of answer Securities everyone Securities forward-looking including be could, XXE potential would today remarks, of expressed the Vivos update may the with the such hopes, was Except extent and estimates to the concerning subject limited certain be plans, in our beyond management factors intended but contingencies, filings as also anticipates, the XXXX, matters XXXX, statements by results on Exchange as to your required intends, the based questions. other filed strategies, obligation Actual to we estimates, expects, upon uncertainties and from that Securities future metrics, from remind of Words of are words more and of significant or call prepared in to, the and other the that operating materially by or Vivos' accessible assumes control. future including to company's is Web conference of today's
Huntsman, Now my pleasure and at introduce Kirk go this Vivos. it is Kirk, of Chairman to please time, CEO ahead.
you XXXX call, and quarter our follows Chief financial you and year for first provide conference the review everyone Afterwards, full with on a as our thank Brad of quarter our an and update results. progress. results full review will Financial to Officer, highlights fourth Thanks, year full Amman, our earnings joining today Julie, our on fourth year company. and us public which excited I'm our
reported middle were resurgences as dental that of that business in growth by despite the COVID-XX usual. XX% throughout by it full Dental year-over-year given Both quarter In and Vivos. mostly variant in of we'll XX%. growth that, fourth XXXX fourth of particularly by your the we and Following the for periods just were and significant we to pleased core performance the sales quarter, the year. headwinds American operating part December practices year year, and for grew market be XX%. We latter questions. generated base, customer marked In open happy this about penetration growth our continuing take XXXX, the strong of driven And came Association full revenue with revenue
operational Another XX% the The dental personnel two, home hiring front throughout hygienists, and case replacement positions. Regardless Vivos dental HSTs Method into performed; industry dentist struggling new new XX% we three hire must our starts. and headwinds, to and reintegrated dental These be replace were practices community execute of three, routines. XXXX enrollments dentists metrics such as of on program one, on our and or or desk recorded difficulty tests, source sleep across reported a impact patient VIP challenges trained direct VIP starts, both of that of total to case and practice continued performance successfully enrollment; key have
regulatory believe in greatly in ongoing well we efforts XXXX, and strengthen and our In also significant during as enhance publication saw the market. research as addition, our position status we advancements that competitive
enrollments, VIP efforts arena. program we to and new while DSO launching independent corporate outreach medical dental our penetration dentists, XXXX, during groups our for As large for continued into accelerating our the
XXXX, the XXX XXXX. COVID-XX fourth independent we year of in or year, from we XX% increase an with Also, Providers, of VIPs enrollments third to Integrated new recognized but did $X.X in and enrollment our saw informational variant prospective attending to in we the events in quarter periods. due recognize during primarily and last during XXXX prior enrolled XXX quarter the resurgences half VIPs, versus sales as During new the dentists revenue VIP the subscription XXXX. VIP decrease revenue million $X.X compared was million The Vivos of compared
numbers indicator a our fourth the prospects to of remainder VIP new in enrollments. such Our XXX by for XXX were over existing future quarter was attended third were positively October, events prospects VIPs. at Breathing Annual leading for and tends which dentists, be Conference new by Attendance Wellness company-sponsored impacted
quarter, to for organizations. initiative paying and officially customers. those and with have marketing in or U.S. we Also the As our now case the dental VIP programs, is latest fourth turn prospects into we growing marketing Canadian launched rapidly DSOs, our into market support the always sales
our staff and management medical therefore medical barriers, sleep entirely doctor DSOs. specialized that efforts our pilot and those Today, opening for our The am single DSOs often with to program patient from a their new one rolled forecast. successfully rapidly we DSOs that believe to the as EBITDA of insurance workflows broad to penetration As has trials requirements, sleep frontier indicated dentistry, management most door fourth report products date, DSO program potential. for barriers elegantly services. VIP and across to been Vivos more effectively out the us told network, line known collaboration, multiple program difficulties DSOs program entry for in exceeded quarter, and well experience execute accretive Many sleep haven't sleep extensive has represent and marketing our our extremely for solves have a growth calls, prior not the market by successfully Throughout Vivos received, no for the profit can practices. doctor despite an and DSOs we recognize training, and reimbursement that model. in how in opportunity navigating scale and encountered we've revenue the achieve program, on initiated for DSO our dentistry. treatment pleased provider breathing lucrative highly every opportunity sleep that DSOs surprise involving management is has I our largest demand have It to believe Vivos we and DSO single top Vivos our a cited they include sleep to on markedly next need successful we apnea but vary Leveraging and for
over DSO We locations. revenue total also active dental furthered close several estimated annual for $X X,XXX discussions pilots in additional from to derived our contract with groups, an representing billion
market DSO and Our continues penetration as the into accelerate in to move U.S. XXXX. Canada we
the XXXX. program to estimated attract refer then Program, we to the sleep vast Association Alliance strongly patients which know them program apnea local of to the designed was patients for for to the American program, encouraged U.S. OSA and test, and Program fourth as treatment. refer gives trained quarter enrollment our simple majority for ring, using don't here dentist in home quarter the SleepImage a screen of yet screen yet Dental established other is to being are way the Airway in dentists Alliance dentists sleep and their who fully featuring and these also The profitable Our dentists Canadian VivoScore how. Airway Vivos the XXX,XXX launched first This by their
As tests a period month being monthly for total tests sleep an HSTs the network announced recently average home total our under across in performance in we our month. represented performed, per of XXX quarter tests XXx metric, key the increase performed This to of X,XXX or same growth from per tests change number second versus fourth over in the XXXX XXXX.
increase VIP. being of a number reported X.Xx sleep increase home in also home and Xx tests We administering tests, of per VIPs administered the the average number a sleep in
patients two every also to OSA. continue out for of see one approximately positive We testing
to sleep believe pleased in those performance results to these proper We gains renegotiate is our diagnosis diagnostic commercial lower allowed dramatic recurring from HST are our test in we a SleepImage center very revenue as by home OSA costs to loss and from leasing convert treatment. SleepImage us as have entire get rings agreement essential we Also, these helping testing, suffering potential program the dentists. the to with leader into a to shifted
arrangement pricing in XXXX our results Vivos SleepImage expect beyond. for positive We and with yield will new financial
earlier. key new helping Our the patients their case with performance The primary those providers Vivos is into treatment now that staffs is Maximizing I convert Method. metric trained third referenced and focus Vivos starts
program primary is saw growth case in in essential and Through fully more that essential and with quarter out acceptance and events reports Empower to Web We sold provider. Sleep, offices rolled successfully XX tests as nearly the in to apnea sleep this staff the U.S. this reimbursement and by and oral the Canada. we step of and dentists during in part we trained around of country. consumers. an towards licensed which focus of by SleepImage seek personnel This medical providers Sleep case Vivos Also as payers. of states. second we diagnoses progress on quarter, Providers, trainings, our establishing the home XX initial Having of program involved our The XXXX. over our go-to-market systems we of found solid a patients from VivoScore effort were readily such to who of XXXX, to attended patients their formally conducted for XXXX, advertising, marketing network of this expect strategy, conducting digital maximize from December XX% as the objective URL did new relationship the from well seamlessly possible to they social a in obtain in VIP requisite qualified multifaceted marketing getting and treatment in procedures as aware a the as course, starts their increasing XXXX, overhaul which Vivos turned appliance XXX working states the vivos.com. fully are fourth using to than year conveniently of by training is, become XX including from nationwide at is independent initiatives, medical made regionalized place on During sleep site, pushing objective be now latter end we our digital arches Trained Having media the Vivos we a all and throughout an at executed many technology year. licensed and Empower
to Web customer work produce over part well to projects, new site quarter creation over closely journey. a and company third fourth branded of consistently compared growth our Marketing content with we in led marketing to a start new videos as traffic effort, As Stage quarter strategic as which of that XXX the XX% XXX
and during awareness media running by Vivos On We other industry competitor fan in as is engagement direct are through strong in larger conversions. We an our Method Xx rate at in Facebook lead began and just we X.XX% This rate ads was double engagement Instagram, in which X.XX% the versus impressive same also come a the for the positive Google reaction company average saw expected is build digital sleep ratios just benchmark for consumers space. XXXX, that engagement same February The period. apnea much over to the channels. grow our seeing X.XX% to XX.XX%
Medical these exposure of further Canada, into by medical the accelerated of and Advisory of penetration our co-chaired Cecilia the through Kushida Board, along Consortium, Medical and broader Stanford During as Wu the clinics. renowned Clete with of our community formerly formation our The cardiologist, Mimi see Alberta, doctors Vivos and Drs. XXXX, interdisciplinary as Director sleep Medical we the every of in known their advisors with patients Education. serve medical Clinical apnea Dr. Guarneri, who internationally as capacities appointment day to various in treat
gone have firsthand. patients Vivos themselves, are members Vivos prominent through physicians data family actual therapy and had clinical seen doctors from or experienced Vivos these of have results have Method Some who These treatment. our
As a urgently their out get mission medical to they message joined our this have result, to enthusiastically colleagues.
scientific technology main of to Medical robust so widely is adopted Board's foundation, One physicians will evidence Advisory the Vivos' enough be accepted the strengthen directives by to be and underlying Vivos worldwide.
New ranked medical disseminated areas. clinical is and strides two making is journals conferences. Vivos and of avenues, via medical these awareness practice guiding physician data highly both major in great
During and even our high important are already more works. XXXX, technology Production aspects the confirming various technology data to our highlighting in of we published multiple XXXX. see clinical and and papers published expect highlighting of studies papers during quality manuscripts demonstrating
at jaw a effective in sleep of the already by presented conference sleep on the Method method airway. maxilla of of Method compiled severity in ranked Charlotte, For be held technology and discussed the has and in Board of at highlighting which fall example, to a modality medical X,XXX levels XX,XXX showing underwent mass for Greece conference professionals Medical at North index. in models of who the a dataset treatment during Vivos the been on again the and collaborative More Sleep Rome presentation of Society technology discussed our and June or be also at Congress study Academy showing received. The will the is highly the Sleep will company all future the therapy technologies journal. that symposium the will XXXX September, XXXX, on Carolina. Vivos they at emerging Vivos evidence XX, behalf attended upper Sleep of recently Vivos same Medicine, and expands In will Sleep members be the another very the sleep, symposium in that and has focusing March finalized annual There to treating of Vivos Advisory diagnosis was submitted new well conference, Members medicine. apnea. At shape over obstructive of XXX presenting be in the patients body the be competitively present regardless significantly will Research OSA Vivos sleep held to American over World dental-medical This was in European treatment
move conferences, presence future. Vivos trend Vivos we world the As and alleviate recently study and headaches of we into strong technology for expect has this all have been the first clinical conducted another continue time major manuscript with headaches. will XXXX, sleep their at will patients foreseeable into a a We reported The by retrospective many in patients XXX headaches. to three results in reducing with delivering Vivos significant, were launched occur clinics treatment. Integration XXXX, Division developments and dentists is for future owned will Details with Boards Clinical The results health also medical are organizations those Meanwhile, publication. documenting additional Advisory Medical partnerships The forthcoming the and further Method throughout currently being forging trials. doctors be large our by forming year. as clinical Vivos produced two trained of Medical Pneusomnia local statistically
to the such of in within for collaboration to interdisciplinary have has dental this the of these each first build, These opening We Vivos effectiveness and instrumental are growth communities continues part to six on above. that expected, startups in the physician-backed can occur least projects than the longer but interest listed at medical that of due the between our few legitimizing been in another is eight in community clinic XXXX. initiative believe success The XXXX taken medical queue As the Method. actions
of from didn't and revenues that prior business enrollment services Growing VIP still from appliances, our that XXXX. even growth and priority offer were well the enrollment the Integration including revenue rollout. we Myofunctional Intelligence our early revenue value-added our This revenue streams our core in revenue stages MyoCorrect new were Services services or our also year their their of streams outside from as includes from to top continue of Therapy. derived Medical introduced or These grow indicates revenue for as we in VIP XXXX in and were in revenue core products and includes are we and ancillary and either as strong possess remains revenue patients, Our new that us Division, just sales. a in VIPs from important Billing XXXX, appliance these management
with our pleased Vivos dentists XXXX. just year to in globally pleased the to over in training fourth the the full review of December you addition which achieved this with X,XXX XX,XXX and results quarter end Method have financial value-added of results, report of our other to compared XXXX. of Brad growth compared providing financial of more that services patients revenue later solid XX,XXX The we end year. as In Method have the and and I'm The trained and with to of very as will we VIPs X,XXX XXXX, approximately XXXX, Vivos operating we And highlights at treated in past for at application XXXX, this call. December XX, We're XX, total have speak the use related detail to these our with been
Aside has a operating milestones and also accomplished IPO. of metrics, key financial strong since Vivos from our XXXX our number business
which Candid our sharing between entirely brand. thus in And at move efforts actively price will announced consumers a DSO quarter, closing formed therapy. is fourth aligner and a relationship, key the order gap that digital and In and much and training, through dentists resources, platform of contacts, very with to and evolve latest with and very we a continue provides and marketing than that the collaboration opinion Candid product technology strategic teeth is for the collaboration Through recently dentist Candid their here orthodontic leaders and CandidPro Candid recruiting down we two referrals, type model, model were see focus to the their with much our invisible airway straightening Care, leading aligned the we be to on lower they retail During direct-to-consumer Vivos. a at short, Vivos to company forward. this Vivos. educational bridge the to as companies provider health as between same grow provider
working to seamless for will are believe our We suffering combined enable to Candid OSA. excited patients offer be us a and with strengths from solution
fronts, property in items the we On and QX. accomplished regulatory three intellectual important
two filed we and on developments. ensure First, protection patents enhancements to device
products clinical improve with With registration this, services. and helping of our maintain Secondly, from have prior The demand have Vivos services and responsible Health health through their clinically we suffering this Canadian complete assess products completed and resources. now and ministry a access complete Even for our approximately official Health official dentists protocols. OSA and These Canada can dentists Canada, access to health Method. Canadians for Vivos high of to properly received we department to products XX,XXX registration, treat dentists local through Vivos' patients Canadian now screen, and from
of very its the Canadians Canada expand manufacturing We Medicare dentists to Data happy development, and our advantages that received are we expect of and millions end and Medicaid mmRNA first patients in our or is serve PDAC Coding, acceptance on from closer acceptance beneficiaries PDAC Vivos' positive benefits with patients. to the Canadian and This list In Services moderate treatment mmRNA the milestone on for the to list technology. OSA development of Vivos device their who to & clinical better Medicare. presence to device oral and makes for for needs to an another we products when we related this appliances proprietary this to of the OSA. Centers appliance much device. millions by places mmRNA contract The contractor needed year And the capacity mild a of only is suffering extremely offers for deliver available comorbidities. effective and regulatory to This seek oral connection Pricing, from finally, achieved which Analysis billable covered of PDAC, Medicare
coverage life U.S. and the sufferers technology therapeutic guidelines. to in commercial on very look to insurance changing Medicare are have We our Medicare are or forward of medical follows either the this that delivering millions who who about happy OSA
end. year Our progress did not stop at
and application continued an that later continued way, we enhanced in medical which U.S. Adding proprietary have or a a XXXX several proactively new for feel protocols This our in in Index, realize can Vivos early and dentist in abnormalities and of believe Method We can disorders. audiences catalysts our and Recently, more and relevant growth. rid key asking Method of in and clinical contribute the patients. to were this with patent filed help improvement Department Vivos demonstrates which Apnea corporations and new patients Vivos' which additional treatment methods the reductions or for recognition forging as received workers to help and Complementing mission a positioned Defense, treatment designed better contacts rebranding Department with drive sleep scope this increase to patent treat that future to manner Vivos their need capture AHI, had providers devices, and delivering key an help of announced score breathing sleep patent understand about These and revised dentists our to now treated for it Hypopnea engaging this, average OSA. ways of growth. dental, application of activities technology will treatment and XX% include January, on will addressing and in in large drive Transportation airway granted, the Vivos Method clinical tens these The the developed Vivos if in and our of within and well Administration, we Vivos field believe U.S. U.S. Vivos Veterans in the believe our based The was for secure transportation as of we The to activities relationships patients apnea. our providers data, makes offerings called These to obstructive easier relatable facial milestones, who us are the important the all patent, approachable independent world rebrand achievements portfolio thousands OSA to implemented. believe each the their protocols protocols, to offering the be of of in clinical with who We well multiple with leave has commitment our screened to clearer continued modalities proprietary innovative where future. we increase Method. for to revealed We
this part patients more. trained noted, previously professionals and updated their launched Vivos where testimonials journeys corresponding about patients as and at medical success and and stories most and its information process, Web we recently of much As partnerships, site for an from can find and opportunities the dentists corporate OSA FAQs www.vivos.com symptoms, and about their personal
year to I to about in significant to appliance driven our we drive since strong our by to number social enhanced of periods year-over-year revenue streams. itself our later we in achieved very on revenues IPO and our that will Complementing well and company awareness sales large XXXX simplifying achieved This just marketing Vivos progress revenue continue also progress Vivos DSO drive In full conference future increase remain as concludes we dentists December DSO well to are the drove to engage XXXX. communities name turn in prospects. summary, of enables recognition to and VIP including all XXXX, taking we this increased the be another Annual States growth all increasing in will of attend increased providers, income. for the and efforts, patients, the exciting business, Considering turnkey milestones to provides continuing VIP program with as our expand we in for services a expect is The presenting the potential of facets all care our dental and growth, outreach, of VIPs. newer excited date, both further increase medical By our practice were new In as marketing as and we are example steps have further the addition ADSO beyond. we sales to information for Texas one also to on This attended patient program to in for growth of consumers, for should dentists media also our while confident enrollments remarks. and becoming substantial opening Austin, and stage position revenue conferences The which and site and a prospective Also, enrollments. VIP the DSO just of This XXXX employers. quarter yesterday, elevate guidance which fourth the and directly more appliance first and medical made We year, for services, where adoption my enrollment United comprehensive this will DSOs generate Canada. products in time Method, in Vivos. other
pass Brad review the Now I'll call to results. over Brad? who will our financial
Thank compared quarter $X.X XXXX. OMT revenue due million enrollments Myofunctional increase MyoCorrect Service, from resurgences. increased you, revenue This Billing sources management our XXXX was review the appliance mainly due Today, fourth total increases, services MID results. to XXXX, Fourth revenue. for or was and financial and partially growth Intelligence Division, revenue present of fees volume VIP in quarter XX% to including year lower the or million I'll and by our full Therapy enrollments, fourth due afternoon, to reported sponsorship our subscriptions Kirk, Omicron everyone. XXXX program, of additional for increase in Integration variant from good Orofacial Medical part VIP quarter and $X.X We to and quarter the not fourth revenue sales COVID-XX impacted Delta a of XXXX,
periods. from However, actually VIP to recognition revenue due prior year-over-year revenue of up enrollment was
period VIPs cancellations and of the recognized to XX $X.X revenue During enrolled net during XX million year. of last we the VIPs revenue compared million approximately and fourth $X.X quarter, same of approximately
million, revenue XXXX three million. ended three approximately appliance the revenue $X.X arches revenue appliance XX, oral December XXXX, to for increase X,XXX X,XXX ended total in for appliance volume months December months arches During oral the we where due sold increase of sold approximately an from is we total of $X.X The XX, increases.
For factors the XXXX, increase This compared attributable the XXXX. year full $XX.X the million to full $XX.X of million revenue same mentioned. I was year increased to to just for XX%
The XXX VIPs period revenue million, place roughly June, enrolled the driven fees we price December that and XXXX for XX, of VIPs meeting were $X.X throughout from XXXX. XXX service of in enrollment rata primarily took pro prior for XXXX, contract. enrollment enrollments evaluate factors the compared in contract recognized per and XX% ended XX, is December for million cancellations recognized ended enrollment, months the of months higher higher net the of August XX% Topic applicable XX second increase VIP and revenue increase the recognized revenue $X.X by XX definition was the month during of remaining September, ASC revenue of year of XX% to XXX. XX% average which enrollment the the under revenue following and XX% revenue separately higher and During contract a approximately a We of each enrollments.
year December $XXX,XXX Additionally, to approximately ended compared increased the the our Intelligence XXXX. Service $XXX,XXX Billing XX% for year December revenue XXXX, for XX, ended XX, up
increase XX% we earlier in XX, XX% a the the shipped million, arches XX,XXX ended and and XXXX, from During sold a appliance December sleep ended year revenue for XX% of with total Gross million higher Gross reflecting quarter XXXX. approximately during to year in in XXXX increase is VIP oral $X.X December quarter, the year revenue XX% testing compared X,XXX last which million. the XXXX ended margin appliances compared year arches December gross the due the for costs during year of a XX% XX, and rings. fourth enrollments, of product $X revenue the year's ended December Gross XXXX respectively. home XX, approximately million profit included for was $XX.X comparable total XXXX, full to appliance the for XX, and was in increases. Again, profit year million compared was to $X.X quarter XXXX of for $X.X the increase when the volume million $XX.X appliance fourth XX% periods margin we to revenue for associated oral sold for for fourth
the our $X.X million and related to status a sales December expenses XXXX. new to million million marketing to maintain refine increased for XXXX of increase ended investors marketing as respectively. approximately We the year million media earlier consumers, as XX, XXXX, The profit gross Vivos' our for Sales increase to grand the efforts, VIPs for XX, December that well primarily factors and to not due in place to $XX.X are the compared This of $XX.X Web marketing company, and year the includes our XXXX as which for conferences a and expenses the drive fourth promotional in events Denver. periods. the XXXX. updating with $X.X dental for million our marketing and marketing to XXXX expense to only $X.X Institute mentioned note opening the expense the the started compared XX-month increase late was fourth site revenue, in growth, administrative Kurt of such Utah, for clinic $X our as continuing XXXX due XX, promotion described $XXX,XXX marketing approximately ended support effort The Vivos approximately of million to and $X.X the ended quarter and of December XXXX. fourth three were XX, an potential outreach December of improving higher primarily for social headcount year million Orem, approximately The in to ended earlier. General compared XXXX, due sale for Sales by expanded company-owned related three-month materials is $X.X the periods and sales, campaigns, the impairment million margins. to in to primarily quarter in quarter year-over-year taking to and public was our $X.X and of million but XXXX increased and
related new Services, and offered accounted including MyoCorrect which our HST Additionally, XXXX from in diagnostic core revenue Medical our revenue. SleepImage fourth XXXX, as products and these are product, to approximately business Integration services our as expenses Therapy X% revenue, Division management well for from revenues of from sponsorship quarter revenue higher increased fee our
investments us and capital continue to efforts, We and form the already our these of strategic fourth future results. our to demonstrated returns administrative investments by to We as expenses. general growth deploy our quarter revenue and and these have support support sales in growth, marketing seen start proving strong providing consider as as well
marketing to the Net higher ended loss due quarter quarter the million December XXXX. $XX.X for approximately million expense, due believe sales of year XXXX to for million I fourth of year and to our The Net factors was that was primarily year-over-year the long-term was compared discussed. the and loss million to December to G&A for the just for initiatives continue XX, approximately XX, enhance growth $XX.X ended $X.X $X.X compared these XXXX. potential. We fourth XXXX increase will
XX, sufficient ago to IPO by anticipate conclusion, enabled for and XXXX. were progress December to year-over-year XXXX, This XXXX meet our VIP execute million quarter XXXX, million and $XX of in With continuing balance both on the our we XXXX, fund was financial having proceeds second further resources for cash $XX.X the At sheet. equivalents requirements, the strategy cash generate cash us at December made compared XXXX. our completed to capital our appliance significant equivalents the the offering from future. driven strong year we XX, follow-on operations quarter in to a increased our we which In approximately to enrollments. of approximately sales and cash full year and our and growth and revenue foreseeable growth for Turning
the including continues and strategic fueled home Integration we Our fourth that core appliance of test as sales activities, an deployment and Kurt be Intelligence Medical sleep to revenue such the earlier. growth business, increasing about SleepImage by sales and showed Billing MyoCorrect, including revenue spoke as the contribution Also, the services quarter rings such streams XXXX, marketing products VIP service from Division newer and in our Services. introduced outside value-added
XXXX, The prospects. forward the and momentum current the focused as of growth streams Vivos enhance look At medical exploring we community same our expect sales benefit to the our model members the as in for time, to we to we revenue more as additional on core remain we dental see business treatment continue our of both and refine a As Method OSA.
you we continued progress. providing remarks. are forward have look achieved, to our what of and already concludes very We proud with our further prepared updates That on
Operator, turn for like would we over to go the ahead. Now, questions. please call
Thank Nowak ahead. first you. [Operator Capital. from with Please go take question We'll Craig-Hallum Instructions]. Alex our
everyone. on This Chase Alex. for afternoon, is Good
any several given QX? to it quarters? me, revamped And contribute the this trend sales for in expect strategy, how over do did next sales First you the SleepImage
Great question.
from we That program over not from for sales So was product us. was QX. loss recognition to profit in what any a of time the transitioning revenue did a see SleepImage when leader were center a essentially the we
we'll see the the of quarter rollout quarter, And revenue goes. revenue we'll year it's into to as what some first really the explore how and contributions. second contributions the that here And are see to so to in those start just going have extent we
VIPs, Then only second, helpful. marketing more could the all on you. That's expand signed revamping the not that those have also VIPs initiative from arches more at you gain of on? to Thank you but already
Yes.
of wrestled have practice over terms throughout we dropping distractions implementing we course closures of for lot staff, been cetera. and seen of off with They've in in for loss have So There especially COVID, and production of a the providers coming their see dentists. on their time, sleep et practices.
great bit. their out them these quite staff actively had new market who doctors great their navigate we're back these had reinstalled helping had been seeing we're either sort So production personnel, from -- reception in way of And the offices, lost getting been their to case systems a off degree we there that. of a from have things. to seeing a uptick fallen starts little new And new they purchases, retraining in or
are to we we're their resources amount very, in very encouraging or encouraging doctors of continuing a to continue reactivating some having visits success to that. with sleep considerable devote And to their practices. our So grow
specific it then in mentioned, That's sounds near patient helpful for publications to color. Thank we be the here? study you. should you And XXX mid-term watching other that exciting. Any
you'll think in on very the development about see announcements -- But we're us with next see have next little front. what that out very, from and ongoing, to the respect coming while we're have some that. studies research you'll I been important the announcements we'll Yes, excited seeing and about
can replacement? the That the on there provide And sounds your for CMO, then any concerning of departure search great. a updates you
efforts back here this At scaled Dr. and of time, No. his his time in had sabbatical. because point already Singh somewhat
And of aspects so had we what responsibilities and that he taken hired. or we steps previously various other organization doing contract to personnel allocate within the personnel was to
discussions are are So that. with we number feel like in positioned And well of a we replacements. navigate to we potential
the of moment. any make yet prepared evaluating But a that. We to about announcements aren't we're number candidates at different
year? us the count just share in Brad. end release, just missed specific might housekeeping be the me, have for not provide I a the of fiscal helpful. the that that'd lastly little full QX, for you And then for Could
We had the XX of million shares end outstanding year. the at
much. very Okay. you Thank
Thank you.
closing you. Thank to session. to over today's additional question-and-answer the management And conclude I'd does for turn back like conference that or any remarks.
and like call, I thank here for have the been we hope this we sense don't about us. and better call as joining are this felt ever and we've prospects to would headlong to the that optimism potential everyone in your us I for interest XXXX. into of before able its Vivos. lies where move on company I in things we that think continued today's throughout the for stream that you've
of very you the and to to They've what are have what shareholders this an each Board and and for provided about about things leading extend our position absolutely are excited the for ahead. us And company job our and that for company. every future doing this thank guidance a of amazing they I'd that we holds. amazing do. we one done excited that very the Directors direction of to for We're necessary all lies and us appreciate you supporting So what's also investors happening. like
behalf the here, active company. our behalf on Directors on management Clinical Advisory in is good of really express to the to And all of be this out all work want truly our role of appreciation We what we being do done them. that there the future. well our I without Board Medical of as that our for and So extends playing do able Boards and to that's wouldn't also
you we'll again future. see report So day. contributions And appreciate very you a soon. great their having we forward positive everyone much. more And the to look in Have results here. and Thank to
Thank you your that participation. We conclude you. for conference. all does And thank today's
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