Vivos Therapeutics, Inc. (VVOS): History, Ownership, Mission, How It Works & Makes Money

When a medical technology company like Vivos Therapeutics, Inc. pivots its entire business model and sees a 78% sequential revenue jump in Q3 2025, shouldn't you be asking if this is the defintely future of obstructive sleep apnea (OSA) treatment?

That massive growth, which pushed nine-month 2025 revenue to a total of $13.6 million, is a direct result of their strategic shift: moving from a dental-focused distribution channel to acquiring medical sleep centers, a model showcased by the June 2025 acquisition of The Sleep Center of Nevada.

But with the Q3 2025 operating loss widening to $4.7 million, the real question isn't just about revenue scale; it's about how this unique, FDA-cleared oral appliance system actually works and whether the new direct-to-patient model can convert that top-line momentum into sustainable profitability.

Vivos Therapeutics, Inc. (VVOS) History

You're looking for the bedrock of Vivos Therapeutics, Inc. (VVOS), and honestly, the company's story is a classic example of a medical device company pivoting to a direct-care model to control its own destiny. The core takeaway is that Vivos evolved from a dentist-training model to a vertically integrated sleep center operator, a shift that is already showing significant revenue impact in the second half of 2025.

Given Company's Founding Timeline

Vivos Therapeutics, Inc. was incorporated in 2016, though the underlying technology and concepts had been in development for a few years prior. The early days were about building a proprietary, non-invasive treatment for obstructive sleep apnea (OSA) that offered an alternative to the cumbersome Continuous Positive Airway Pressure (CPAP) machine.

Year established

The company was formally incorporated in 2016 in Colorado.

Original location

Vivos initially established its operations in Littleton, Colorado.

Founding team members

The founding team was a mix of business strategists and clinical service experts, with R. Kirk Huntsman as the central figure.

• R. Kirk Huntsman: Co-Founder, Chairman, and Chief Executive Officer.
• Todd Huntsman: Co-Founder and Senior Vice President of Product and Technology.
• RaeAnn Byrnes: Co-Founder and Senior Vice President of Events and Clinical Advisory Services.
• Susan McCullough: Co-Founder and Executive Vice President of Operations.

Initial capital/funding

Initial capital came from founders and early investors before the company pursued larger private placements. The total funding raised across early rounds was approximately $556K.

Given Company's Evolution Milestones

The company's history is marked by regulatory validation and a major strategic shift in its sales channel, moving from a B2B (business-to-business) model to a B2C (business-to-consumer) approach via acquisitions.

Given Company's Transformative Moments

The biggest, most recent transformative moment for Vivos Therapeutics, Inc. is the strategic pivot in 2025. This wasn't just a tweak; it was a fundamental change in how they reach patients, moving away from relying on the dental industry (the Vivos Integrated Provider, or VIP, model) to a direct medical center affiliation and acquisition strategy.

The acquisition of The Sleep Center of Nevada (SCN) in June 2025 for up to $9 million in cash and stock was the catalyst. This move was about capturing both the OSA diagnostic and treatment revenue directly. Here's the quick math: SCN contributed $500,000 in diagnostic sleep testing services revenue in just the first 20 days post-close, which is an early validation of the new model.

This shift immediately impacted the financials, which is what we care about. In the third quarter of 2025, the first full quarter with SCN operations, Vivos reported revenue of $6.78 million, a 76% increase year-over-year, and a 78% sequential quarter-over-quarter growth. That's defintely a clear signal that the new model is working to drive product and service revenue. Operating expenses also rose to $8.7 million in Q3 2025, a 74% increase, as they invested in the SCN integration and new headcount, but that was expected with the scaling of the new model.

The company is now focused on replicating this success through similar arrangements, like the management agreement with MISleep Solutions LLC in Michigan, with an estimated opening in October 2025. This is how they plan to scale. Exploring Vivos Therapeutics, Inc. (VVOS) Investor Profile: Who's Buying and Why?

• Pivot to direct patient access: Swapped a dentist-training model for a sleep-center-based acquisition strategy.
• Acquisition of SCN: Provided a large, direct patient funnel and new diagnostic revenue streams.
• Q3 2025 Revenue Jump: Demonstrated the new model's financial impact with $6.78 million in revenue.

Vivos Therapeutics, Inc. (VVOS) Ownership Structure

Vivos Therapeutics, Inc. (VVOS) is a publicly traded medical technology company, listed on the NASDAQ Capital Market, which means its ownership is distributed among a mix of institutional investors, company insiders, and the general public. This structure, as of late 2025, shows a significant portion is held by retail investors, but with key institutional and insider blocks that influence strategic direction.

Vivos Therapeutics, Inc.'s Current Status

The company operates as a public entity on the NASDAQ Capital Market under the ticker VVOS, a status that mandates financial transparency and governance standards. As of November 14, 2025, Vivos Therapeutics had approximately 8,988,106 shares of common stock outstanding, reflecting the capital base that underpins the organization. To be fair, the company is still in a growth phase, as evidenced by its Q3 2025 revenue of $6.8 million, a 76% increase over the prior year quarter, but also by its balance sheet showing total liabilities of $23.1 million against $3.1 million in cash as of September 30, 2025.

Vivos Therapeutics, Inc.'s Ownership Breakdown

Understanding who owns the stock is crucial because it tells you whose interests are driving the company's decisions. The breakdown below, based on the most recent filings, shows a large public float, but the institutional block is a key factor to watch. You can dive deeper into the major holders by Exploring Vivos Therapeutics, Inc. (VVOS) Investor Profile: Who's Buying and Why?

Vivos Therapeutics, Inc.'s Leadership

The company is steered by a management team with deep experience in the healthcare and business operations space, many of whom are co-founders. The leadership's focus is currently on scaling its new sleep medical practice acquisition and strategic alliance model, which drove the Q3 2025 revenue growth. The management team's average tenure is around 1.8 years, but the CEO has been in his role for over nine years.

• R. Kirk Huntsman: Co-Founder, Chairman of the Board, and Chief Executive Officer (CEO). He's been leading the charge since September 2016.
• Bradford K. Amman: Chief Financial Officer (CFO), Treasurer, and Secretary, providing the financial discipline.
• Susan McCullough: Co-Founder and Executive Vice President (EVP) of Operations, overseeing the core business functions.
• Michael E. Bruhn: Executive Vice President of Business Operations Integration, appointed in July 2025 to focus on scaling operations, defintely a key hire for their new model.
• Nicholas M. DeGennaro: Senior Vice President (SVP) of the Mergers and Acquisition Group, critical for executing the company's growth strategy through acquisitions.

Vivos Therapeutics, Inc. (VVOS) Mission and Values

Vivos Therapeutics, Inc. is fundamentally driven by a purpose to revolutionize the treatment of sleep-disordered breathing, especially obstructive sleep apnea (OSA), by offering non-surgical, non-pharmaceutical solutions. This mission is backed by a strategic pivot to a direct, patient-centric model, which is already showing results with third-quarter 2025 revenue jumping 76% year-over-year to $6.8 million.

Vivos Therapeutics, Inc. Core Purpose

The company's core purpose goes beyond just selling a device; it's about addressing the root causes of a chronic, life-altering condition that affects over 1 billion people globally, most of whom remain undiagnosed. Their focus is on a proprietary, clinically effective solution, The Vivos Method, which is changing the standard of care from symptomatic management to addressing dentofacial abnormalities.

Official mission statement

The company's mission is to develop and commercialize innovative diagnostic and treatment methods for patients suffering from breathing and sleep issues, such as all severities of obstructive sleep apnea (OSA) in adults and moderate-to-severe OSA in children. The goal is to empower healthcare providers-from dentists to sleep specialists-with technology and education to more thoroughly address complex patient needs.

• Develop non-surgical, non-invasive, non-pharmaceutical OSA treatments.
• Empower a diverse network of healthcare providers with proprietary technology.
• Address the root causes of sleep-disordered breathing, not just the symptoms.

Vision statement

Vivos Therapeutics, Inc.'s vision centers on becoming the leading medical device and healthcare services company in the sleep-related breathing disorders space by establishing a scalable, direct-to-patient model. This strategic shift, highlighted by the acquisition of The Sleep Center of Nevada in June 2025, is designed to achieve greater financial return and market penetration.

• Achieve cash flow break-even, with management aiming for this in the fourth quarter of 2025.
• Expand the Sleep and Airway Medicine Centers (SAMC) model through acquisitions and affiliations.
• Target a steady-state contribution margin of 50% to 60% from the new model.
• Deliver unprecedented value to patients, providers, and shareholders alike.

To be fair, this pivot is costly; the net loss for the first nine months of 2025 increased to $14.3 million, reflecting the investment in this new, more direct infrastructure. You can read more about how this is impacting the investor base in Exploring Vivos Therapeutics, Inc. (VVOS) Investor Profile: Who's Buying and Why?

Vivos Therapeutics, Inc. slogan/tagline

The company's core message, which encapsulates the hope and relief their treatment provides, is simple and powerful.

• Breathe New Life.

This tagline directly speaks to the patient benefit of their non-invasive Vivos Method (a therapeutic protocol that often combines customized oral appliances and proprietary clinical treatments) as a viable alternative to legacy treatments like CPAP (Continuous Positive Airway Pressure). Honestly, that's a clear win in marketing.

Vivos Therapeutics, Inc. (VVOS) How It Works

Vivos Therapeutics, Inc. is fundamentally shifting its business model from a dental-training-centric approach to a direct, patient-focused medical device and healthcare services company, specializing in non-surgical treatments for Obstructive Sleep Apnea (OSA). This pivot involves acquiring and operating medical sleep centers to capture both diagnostic and treatment revenue streams directly from patients. It is defintely a high-risk, high-reward strategy.

Vivos Therapeutics, Inc.'s Product/Service Portfolio

Vivos Therapeutics, Inc.'s Operational Framework

The company's operational framework is built on a strategic pivot away from its legacy Vivos Integrated Provider (VIP) model, which relied on training dentists, toward a direct-to-patient model via medical sleep practices. This is a significant shift, and the numbers show it's taking hold: Q3 2025 revenue hit $6.8 million, up 76% year-over-year, largely due to this change.

The core of this new model is the establishment of Sleep and Airway Medicine Centers (SAMC) and the deployment of Sleep Optimization (SO) teams. The acquisition of SCN for up to $9 million was the first major step, giving Vivos direct access to thousands of OSA patients monthly.

• Direct Patient Funnel: Acquired centers like SCN provide a ready-made patient pipeline for both diagnostic testing and treatment.
• SO Team Scaling: Management projects each fully operational SO team, comprised of about 16 cross-functional staff, can process around 250 patients monthly.
• Financial Target: Each team is projected to generate over $500,000 in monthly net collections with contribution margins targeted above 50% at steady-state.
• Revenue Diversification: Revenue is now generated from product sales (appliances, $1.41 million in Q3 2025), diagnostic services ($2.2 million in Q3 2025), and treatment center services ($1.3 million in Q3 2025).

You can see the capital required to fund this transition in the Q3 2025 operating expenses, which rose to $8.7 million, reflecting the cost of integrating SCN and hiring new staff.

Vivos Therapeutics, Inc.'s Strategic Advantages

Vivos' market success hinges on a few clear, proprietary advantages that differentiate its offering from the dominant Continuous Positive Airway Pressure (CPAP) machine market. This is where the company makes its case for long-term viability.

• Unique FDA Clearance: The CARE devices are the only FDA 510(k) cleared technology for treating all severities of OSA in adults, and the first for moderate-to-severe OSA in children (ages 6-17).
• Strong Patient Preference: At the acquired SCN centers, nearly two-thirds of patients are opting for the Vivos oral appliance treatment over the traditional CPAP therapy.
• Proprietary, Non-Invasive Protocol: The Vivos System offers a non-surgical alternative that addresses the underlying dentofacial abnormalities associated with OSA.
• Improved Reimbursement: The implementation of new CPT (Current Procedural Terminology) medical codes for the CARE devices is designed to streamline and improve reimbursement processes from medical insurance.
• Direct Control Over Patient Experience: The new acquisition-based model gives Vivos direct control over the quality of care, from initial diagnosis to final treatment, which is crucial for patient outcomes and brand reputation. Exploring Vivos Therapeutics, Inc. (VVOS) Investor Profile: Who's Buying and Why?

Vivos Therapeutics, Inc. (VVOS) How It Makes Money

Vivos Therapeutics, Inc. makes money primarily through a hybrid model: selling its proprietary oral appliances for obstructive sleep apnea (OSA) and, increasingly, providing comprehensive medical services like sleep diagnostics and treatment through its owned and affiliated sleep centers. This shift from a dental-focused distribution channel to a direct medical-practice model is the key financial driver in 2025.

Vivos Therapeutics, Inc.'s Revenue Breakdown

The company's strategic pivot to a direct-to-patient medical services model, highlighted by the June 2025 acquisition of The Sleep Center of Nevada (SCN), has dramatically shifted the revenue mix. For the third quarter of 2025, total revenue surged to $6.8 million, a 76% increase year-over-year, with services now dominating the top line.

To be fair, the Medical Services stream is actually a blend of several high-growth areas and one declining legacy stream. The $4.59 million in Q3 2025 Services revenue included $2.56 million from sleep testing services and $1.32 million from treatment centers, both driven by the SCN acquisition. Meanwhile, the legacy Vivos Integrated Provider (VIP) enrollment revenue, which was once a major component, is now down to a minimal $82,000 and is expected to be phased out by the end of 2026. Product Sales, which include the Vivos System oral appliances, contributed $2.19 million in Q3 2025.

Business Economics

The core economic engine is the high-value treatment for Obstructive Sleep Apnea (OSA) delivered through a vertically integrated model. You're moving from a low-margin product distribution model to a higher-margin healthcare service delivery model. This is defintely a smart move.

• High Patient Value: The average treatment case for a patient opting for a Vivos oral appliance over CPAP (Continuous Positive Airway Pressure) averages over $5,000. Nearly two-thirds of patients at the acquired centers are choosing the Vivos appliance, which validates the demand for a non-CPAP solution.
• Vertical Integration Margin Capture: By acquiring and affiliating with sleep centers, Vivos Therapeutics, Inc. captures revenue from both the diagnostic phase (sleep testing services, $2.56 million in Q3 2025) and the treatment phase (oral appliance sales and treatment center fees). This vertical approach increases the total revenue captured per patient.
• Gross Margin Pressure: Despite the revenue surge, the Gross Margin for Q3 2025 was 58%, a slight decline from the prior year's 60%. This was an expected trade-off due to pricing discounts and the initial cost structure of integrating the new medical-service model.

Here's the quick math on the pivot: the SCN acquisition alone contributed $3.5 million in combined diagnostic and treatment revenue in Q3 2025, which is more than half of the quarter's total revenue. That's a clear signal on where the future profitability will come from. For a deeper dive into who is backing this strategy, you should be Exploring Vivos Therapeutics, Inc. (VVOS) Investor Profile: Who's Buying and Why?

Vivos Therapeutics, Inc.'s Financial Performance

While the revenue growth is compelling, the company's financial health as of November 2025 reflects the high cost of this strategic pivot and expansion. The near-term focus is on scaling the new model to outpace operating expenses.

• Revenue Growth: Nine-month revenue through September 30, 2025, was $13.6 million, up 20% from the comparable period in 2024. The Q3 sequential revenue growth was even stronger at 78%.
• Widening Losses: The operating loss for Q3 2025 increased to $4.7 million, and the net loss widened to $5.4 million. This is a direct result of increased operating expenses, which hit $8.7 million in Q3 2025, primarily due to the SCN acquisition's personnel, infrastructure, and non-cash depreciation costs.
• Liquidity Position: Cash and cash equivalents stood at $3.1 million as of September 30, 2025, down from $6.3 million at the end of 2024. The company secured $14.2 million in net cash from financing activities during the first nine months of 2025 to fund the acquisition and operations.

What this estimate hides is the burn rate: the company used $1.7 million more in cash from operations in the first nine months of 2025 compared to the prior year. The risk is clear: they need to maintain this rapid revenue growth and improve margins to reach cash flow breakeven as planned.

Vivos Therapeutics, Inc. (VVOS) Market Position & Future Outlook

Vivos Therapeutics is actively transitioning from a dental-focused product model to a direct, patient-centric healthcare services model, aiming to capture a larger share of the underserved Obstructive Sleep Apnea (OSA) market. This strategic pivot, highlighted by the acquisition of The Sleep Center of Nevada (SCN), drove a 76% year-over-year revenue increase in the third quarter of 2025, positioning the company for significant growth but also exposing it to new operational risks.

You're seeing a classic strategic pivot here: moving up the value chain to control the patient experience and capture higher-margin service revenue. The company's revenue for the nine months ended September 30, 2025, reached $13.6 million, with the new model targeting a 50% to 60% steady-state contribution margin, which is a massive improvement if they can scale it.

Competitive Landscape

Vivos Therapeutics operates in the shadow of CPAP giants, but it holds a crucial, proprietary position in the oral appliance niche. The overall sleep apnea devices market is valued at approximately $8.79 billion in 2025, making Vivos a small but highly specialized disruptor.

Opportunities & Challenges

The company's future hinges on its ability to execute the new Sleep Center-based (SAMC) model, which is a capital-intensive but potentially high-margin strategy. The market opportunity is defintely there, but the execution risk is high.

Industry Position

Vivos Therapeutics holds a unique, first-mover position in a small but rapidly growing segment of the sleep apnea market: non-CPAP, non-surgical treatment for severe cases. While its market share of the overall $8.79 billion sleep apnea device market is less than 1%, its focus is on the oral appliance segment, which is projected to reach approximately $1.04 billion in 2025.

• Niche Dominance: Vivos is the only company with an FDA-cleared oral appliance for severe OSA in adults, a critical distinction from competitors whose devices are typically cleared only for mild-to-moderate cases.
• Pediatric Advantage: The FDA clearance for moderate-to-severe OSA in children (ages 6-17) gives Vivos an open field in a highly sensitive and underserved patient population.
• Model Shift: The pivot to acquiring and managing Sleep & Airway Management Centers (SAMCs), like SCN, moves the company from simply selling a device to providing a comprehensive, vertically integrated service. This should dramatically increase revenue per patient.
• Reimbursement Tailwinds: The new CPT codes, which became active in 2025, are crucial for making the Vivos Method more accessible and affordable to patients by standardizing and improving the reimbursement process.

To learn more about the foundation of this strategy, you should review the Mission Statement, Vision, & Core Values of Vivos Therapeutics, Inc. (VVOS).

Here's the quick math: If one fully operational Sleep Optimization team can process 250 patients per month, generating over $500,000 in monthly net collections, the company only needs to scale a handful of these teams to significantly impact its current revenue base. The challenge is scaling that model quickly and consistently.