Vivos Inc. reported its financial results for the nine months ending September 30, 2024, showing a slight increase in revenue but continued net losses. The company generated revenues of $23,000, up from $19,500 in the same period of 2023. However, revenues for the third quarter alone decreased to $5,000 from $7,000 year-over-year. The increase in total revenue is attributed solely to consulting income related to its IsoPet® therapies.

Despite the revenue growth, Vivos Inc. faced a net loss of $(1,887,260) for the nine months ended September 30, 2024, compared to a net loss of $(1,818,534) for the same period in 2023. The net loss for the third quarter also increased to $(825,263) from $(667,690) in the prior year. The company's operating expenses rose to $1,944,885 for the nine months, up from $1,853,319 in 2023, driven by higher professional fees and payroll expenses, particularly related to the CEO's employment contract.

The company’s cash position declined, with cash on hand at $1,218,160 as of September 30, 2024, down from $1,592,287 at the end of 2023. Total current assets also decreased to $1,244,325 from $1,610,124. Total liabilities significantly reduced to $48,820 from $245,004, reflecting a decrease in current liabilities.

Vivos Inc. has been actively seeking additional funding to support its operations, requiring approximately $5 million annually. The company raised $839,000 through the sale of common stock and warrants in 2024, compared to $650,665 in 2023. The company’s ongoing financial challenges raise substantial doubt about its ability to continue as a going concern without securing further capital.

Strategically, Vivos Inc. is focused on the development of its yttrium-90 based brachytherapy device, RadioGel™, and its veterinary application, IsoPet®. The company has engaged in collaborations with universities for clinical testing and plans to expand its product offerings and indications for use. Additionally, Vivos Inc. has filed for trademark protection and patents to strengthen its competitive position.

The company’s management has identified material weaknesses in its internal controls, particularly regarding the segregation of duties, which could impact financial reporting. Despite these challenges, Vivos Inc. continues to pursue its business objectives while navigating a volatile market environment.