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Vivos Therapeutics, Inc. (NASDAQ:VVOS), a micro-cap healthcare company with a market capitalization of $13.13 million and annual revenue of $14.63 million, has announced a change in its independent registered public accounting firm due to a merger involving its previous auditor. On June 3, 2025, Moss Adams LLP, which served as Vivos Therapeutics’ auditor, merged with Baker Tilly US, LLP. Following this merger, Moss Adams resigned as the company’s auditor, and Baker Tilly has been appointed as the successor.
According to a statement from Vivos Therapeutics, the company’s audit committee approved Baker Tilly as the new independent registered public accounting firm. This decision follows the merger notification received by the company. The audit reports from Moss Adams on Vivos Therapeutics’ financial statements for the fiscal years ending December 31, 2024, and 2023 did not contain any adverse opinions or disclaimers, although there was an explanatory paragraph regarding a going concern uncertainty for the 2024 report. This concern aligns with InvestingPro data showing the company’s weak financial health score of 1.62 and current ratio of 0.77, indicating potential liquidity challenges.
During the tenure of Moss Adams, there were no disagreements on accounting principles or practices, financial statement disclosures, or audit procedures. Additionally, there were no reportable events that required disclosure under the applicable regulation.
Vivos Therapeutics confirmed that neither the company nor its representatives consulted with Baker Tilly regarding the application of accounting principles or audit opinions before this appointment. Moss Adams has been provided with a copy of the 8-K filing and has been asked to issue a letter to the Securities and Exchange Commission (SEC) confirming its agreement with the statements made in the filing. This letter is included as an exhibit in the SEC filing.
The change in auditors was disclosed in a Form 8-K filed with the SEC, highlighting the procedural aspects and compliance with regulatory requirements following the merger. For a deeper understanding of Vivos Therapeutics’ financial position and future prospects, InvestingPro subscribers can access comprehensive analysis, including 12 key ProTips and detailed financial metrics in our Pro Research Report.
In other recent news, Vivos Therapeutics reported a decline in revenue for the first quarter of 2025, with total revenue falling to $3 million from $3.4 million in the same period the previous year. Despite this, product sales increased by 8%, reaching $1.8 million, driven by the Pediatric Guide Appliance Line. The company’s earnings per share (EPS) matched the forecast at -0.41, while the revenue forecast of $4.1 million was not met. Vivos Therapeutics is focusing on strategic acquisitions, including the upcoming acquisition of the Sleep Center of Nevada (SCN), expected to be accretive by the third quarter of 2025. The company has obtained FDA clearance for treating severe Obstructive Sleep Apnea in adults, which could enhance its market position. Analysts have noted that Vivos Therapeutics is exploring additional acquisition opportunities in the sleep center space. The company is actively seeking financing to close the SCN transaction and bolster its cash position, which has decreased to $2.3 million from $6.3 million as of December 31, 2024.
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