Vivos Therapeutics, Inc.

Good day, everyone, and welcome to Vivos Therapeutics' second quarter 2023 earnings conference call. At this time, all 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' website and will remain posted there for the next 30 days. I will now hand over the call.

Julie Gannon vivos investor relations officer for introductions and the reading of the safe harbor statement please go ahead thank you operator hello everyone and welcome to our conference call a copy of our earnings press release is available on the investor relations section of our website at www.vivos.com with us on today's call are Kirk Huntsman vivos chairman and chief executive officer and and Brad Ammon, Chief Financial Officer. Today we'll review the highlights and financial results for the second quarter of 2023, as well as more recent developments and VEVO's plans for the remainder of 2023. Following these formal remarks, we will be happy to take questions. I would also like to remind everyone that today's call will contain certain forward-looking statements from our management, made within the meaning of Section 27 of the Securities Act of 1933, as amended, and Section 21 of the Securities and Exchange Act of 1934, as amended, concerning future events. Words such as aim, may, could, should, projects, expects, intends, plans, believes, anticipates, hopes, estimates, goal, and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve significant known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant risks, uncertainties, and contingencies, and many of which are beyond the company's control. Actual results, including without limitation, the results of Bevo's growth strategies, operational plans, including sales, marketing, product acquisition and integration, research and development, regulatory initiatives, cost-saving plans, and plans to generate revenue, as well as future potential results of operations or operating metrics, such as the potential for Vivos to achieve future positive cash flows and other matters to be addressed by Vivos management in this conference call, may differ materially and adversely from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the risk factors described and other disclosures contained in vivo filings with the Security and Exchange Commission, including the risk factors and other disclosures in our Form 10-K for the year ended December 31, 2022, and our other filings with the SEC, including the 10-Q filed with the SEC today, all of which are or will be accessible on the investor relations section of vivos website as well as the sec's website except to the extent required by law vivos assumes no obligation to update statements as circumstances change finally please be aware that the u.s food and drug administration has given certain vivos appliances 510 k clearance to treat mild to moderate osa any reference herein regarding vivos treatment or the Bevos method should be viewed in that context. Treatment of patients with severe OSA is performed off-label at the sole clinical discretion of the treating doctor and are not part of the Bevos treatment protocol. Now at this time, it is my pleasure to introduce Kirk Huntsman, Chairman and CEO of Bevos. Kirk, please go ahead.

Thank you, Julie. I want to thank you all for joining us on today's conference call. In just a moment, I'll turn the call over to our Chief Financial Officer, Brad Ammon, who will walk you through the highlights of our second quarter 2023 financial and operating results. Once Brad is finished, I'll come back on and speak with you about the highlights of what we've accomplished at Vivos during the first half of 2023, and more recently, following the quarter end. I'll discuss our strategic revenue initiatives, including our previously announced acquisition of product rights and patents from Advanced Facial Dontics, which has expanded our product offerings into a lesser and to address a broader spectrum of patient needs and price points to drive long-term revenue growth. I'll also talk about our progress with our pilot tests with certain dental service organizations known as DSOs, including the execution of new and existing pilots during the quarter with eight regional and national DSOs representing over 1,000 locations nationwide. I'll also talk more about our distribution agreement with a nationally recognized durable medical equipment company known as a DME that serves close to 2 million patients nationwide who are seeking alternatives to permanently being on CPAP machines. Then I'll talk about our previously announced actions to improve our organizational infrastructure. This is a series of steps we took to increase operational efficiencies, reduce expenses, and to position Vivos to capitalize on the growth opportunities available to us. As our results indicate, we have already seen, we've already been seeing the benefits of these actions, including a substantially reduced operating expenses on both a sequential quarter and year-over-year basis. As an update, we previously disclosed that our goal was to decrease our costs and increase our revenues during 2023 with the aim of becoming cash flow positive from operations by the first quarter of 2024 without the need for additional financing if possible. Although we've implemented cost savings measures and significantly reduced our cash used in operations, as we seek to achieve the positive cash flow from operations in the foreseeable future, our sales have not grown during 2023 as we desired. As such, in all likelihood, we will be required to obtain additional financing to satisfy our cash needs. After that, I'll talk about our plans for the rest of the year into 2024, leveraging what we've already achieved to accelerate revenue generation in the future. After that, we'll take your questions. Now, let me turn it over to Brad to review our financials.