Vivos Therapeutics, Inc. (NASDAQ:VVOS) Q4 2023 Earnings Call Transcript

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Lucas Ward: Sure. Okay. One more question. On the expense side, it looks like we’re — it was about $6.1 million in operating expenses for Q4. I’m just wondering, where you see that bottoming out. Can that continue to go down? Or are we kind of at bottom already with total operating expenses on a quarterly basis.

Kirk Huntsman: Brad, do you want to take that?

Brad Amman: Sure. Sure. We made some very significant cost cutting throughout 2023. And we’ve cut pretty much down to the bone in terms of personnel costs. We have raised some capital and then also had some additional professional fees that in terms of relating to some of the capital raises — that we’ve had and so forth. So in terms of professional fees I’d say that component would — could still fall. But — and then we’ll get a full year in 2024 of those cost-cutting — the cost-cutting decreases that we initiated in 2023 we’ll have a full year in 2024. So that will help us in terms of the full year. And first quarter. over first quarter should experience the same thing in 2024. So we’ll have it for about half the year. We’ll see some additional reductions year-over-year. And then, the second half of the year should be on par with last year.

Kirk Huntsman: So I think just to put a fine …

Lucas Ward: Okay. So…

Kirk Huntsman: Just to put a fine point on that let me just add to what Brad, just said there. In Q3, we actually had about $800,000 lower costs on an operating SG&A basis right? And I think it was — as Brad mentioned, the increase in Q4 was due to several things related to professional fees that went up and whatnot. But we — that’s not going to be part of our run rate. I think a steady state run rate would be more like Q3. Would you agree with that Brad?

Brad Amman: Yeah.

Kirk Huntsman: More like Q3. Yeah. So I think I would look at that as a proxy for what we’re going to see in 2024. And as I mentioned, as Brad and I both mentioned, our cost-cutting initiatives continue. So we are extraordinarily conscious of every dime that we’re spending and where it’s going and the ROI on every dollar spent. So we would expect to see that continue as far as just either flattening out or continuing to drop as we move forward throughout the year. As some of these new revenue initiatives take hold then obviously we hope that the losses begin to — we would expect to see the losses begin to diminish. So.

Lucas Ward: Okay. Kirk thanks. Thank you, Brad. I’m good.

Operator: There are no further …

Kirk Huntsman: Thank you.

Operator: …questions at this time. Mr. Huntsman, please proceed with your closing remarks.

Kirk Huntsman: Well. Thank you everyone. We appreciate the time that you’ve spent with us here this afternoon. We appreciate the support that we received from our investors and the investment community. We realize that this has been a long journey and that we are — there’s a lot of things that we have had to do and had to put into place to get to a point where we can say that we are very, very close to getting to cash flow breakeven and profitability. As we roll forward in the future we expect to see many, many good things continue to happen, more regulatory approvals, more initiatives that will begin to enhance our revenue. And we will reposition this company and allow ourselves to evolve until we get to that point. And so we look forward to sharing our continued progress with you, as we continue to execute on our plans throughout this year of 2024. So thank you. And have a great evening and a great holiday.

Operator: Ladies and gentlemen, this concludes today’s conference call. Thank you for joining. You may now disconnect.

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