VIVOS INC
For the period ended Sep 30, 2025. Filed Nov 12, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 12, 2025
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What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-06-30; filed 2025-08-13.
0001641172-25-023437
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-09-30; filed 2025-11-12.
0001493152-25-021619
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 88 previous paragraphs and 91 current paragraphs.
71 unchanged; 16 reworded; 4 added; 1 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 16 previous and 11 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (4)
Current report
On September 17, 2025, the Board of Directors of the Company approved the creation of Vivos Scientific India LLP (“Vivos India”), a wholly owned separate legal entity in India. Vivos India expands the Company’s strategic initiatives, with the objective of establishing a manufacturing center, expanding human therapies and pursuing commercialization of therapies in India. In addition, we will generate additional human trial data to support our process with the Food and Drug Administration (“FDA”). Vivos India was established on October 1, 2025.
Current report
In the third quarter ended September 30, 2025, we appointed a President and a Chief Operating Officer to account for our growth in the US and abroad.
Current report
Recent successful therapies of equine ocular tumors confirm the use of Y-90 and may impact the business case of development of alternate isotopes.
Current report
Comparison of the Nine months Ended September 30, 2025 and 2024
Removed paragraphs (1)
Previous report
Comparison of the Six months Ended June 30, 2025 and 2024
Reworded paragraphs (16)
Previous wording
In the second quarter of 2025, we signed a contract with Akina, Inc to sell and distribute our hydrogel. It is now in their catalog.
Current wording
In the second quarter of 2025, we signed a contract with Akina, Inc to sell this polymer. It is now in their catalog. The Company has had recent sales to a University and Pharmaceutical company, however the priority remains IDE approval.
Previous wording
During the year ended December 31, 2023, $1,179,245 was raised through the sale of 16,132,000 shares of Common Stock through the Regulation A+ Offerings and concurrent private placements of 18,797,000 warrants. During the year ended December 31, 2024, $2,266,000 was raised through the issuance of 24,950,000 shares of Common Stock through the Regulation A+ Offerings. During the six months ended June 30, 2025, $1,500,000 was raised through the issuance of 12,500,000 shares of Common Stock through the Regulation A+ Offerings and $6,250 through a concurrent private placement of 6,250,000 warrants.
Current wording
During the year ended December 31, 2023, $1,179,245 was raised through the sale of 16,132,000 shares of Common Stock through the Regulation A+ Offerings and concurrent private placements of 18,797,000 warrants. During the year ended December 31, 2024, $2,266,000 was raised through the issuance of 24,950,000 shares of Common Stock through the Regulation A+ Offerings. During the nine months ended September 30, 2025, $1,500,000 was raised through the issuance of 12,500,000 shares of Common Stock through the Regulation A+ Offerings and $6,250 through a concurrent private placement of 6,250,000 warrants.
Previous wording
As of June 30, 2025, the Company had $2,660,590 in cash on hand. There are currently commitments to vendors for products and services purchased. To continue the development of the Company’s products, the current level of cash will be insufficient to cover the fixed and variable obligations of the Company.
Current wording
As of September 30, 2025, the Company had $2,202,109 in cash on hand. There are currently commitments to vendors for products and services purchased. To continue the development of the Company’s products, the current level of cash will be insufficient to cover the fixed and variable obligations of the Company.
Previous wording
The following table sets forth information from our statements of operations for the six months ended June 30, 2025 and 2024:
Current wording
The following table sets forth information from our statements of operations for the nine months ended September 30, 2025 and 2024:
Previous wording
Revenue was $41,748 and $18,000 for the six months ended June 30, 2025 and 2024, respectively. All revenue recognized in the six months ended June 30, 2025 and 2024 relate to the procedures performed with respect to the IsoPet® therapies, sales of IsoPet®and freight. In 2025, we recognized revenue for the licensing and certification of clinics approximating $20,000.
Current wording
Revenue was $43,627 and $23,000 for the nine months ended September 30, 2025 and 2024, respectively. All revenue recognized in the nine months ended September 30, 2025 and 2024 relate to the procedures performed with respect to the IsoPet® therapies, sales of IsoPet®and freight. In 2025, we recognized revenue for the licensing and certification of clinics approximating $20,000.
Previous wording
Operating expense for the six months ended June 30, 2025 and 2024, respectively consists of the following:
Current wording
Operating expense for the nine months ended September 30, 2025 and 2024, respectively consists of the following:
Previous wording
Operating expense for the six months ended June 30, 2025 and 2024 was $1,494,470 and $1,100,659, respectively. The increase in operating expense from 2024 to 2025 can be attributed to the increase in professional fees ($683,452 for the six months ended June 30, 2024 versus $946,723 for the six months ended June 30, 2025) related to the fees incurred for the consultants engaged in 2025 versus 2024 and increase in value of RSUs vested; the increase in general and administrative expense ($78,345 for the six months ended June 30, 2024 versus $133,117 for the six months ended June 30, 2025); the increase in research and development ($157,109 for the six months ended June 30, 2024 versus $227,246 for the six months ended June 30, 2025) as the Company continued to ramp up the development of their products in 2025 in India as well as the US including research studies as well as continuing the steps necessary to be accepted by the FDA, and an increase in payroll expense ($181,753 for the six months ended June 30, 2024 versus $187,384 for the six months ended June 30, 2025) related to the CEOs employment contract and bonus.
Current wording
Operating expense for the nine months ended September 30, 2025 and 2024 was $2,012,678 and $1,944,885, respectively. The increase in operating expense from 2024 to 2025 can be attributed to the decrease in professional fees ($1,310,604 for the nine months ended September 30, 2024 versus $1,234,760 for the nine months ended September 30, 2025) related to the fees incurred for the consultants engaged in 2025 versus 2024 and decrease in value of RSUs vested; the increase in general and administrative expense ($143,468 for the nine months ended September 30, 2024 versus $206,021 for the nine months ended September 30, 2025); the increase in research and development ($223,660 for the nine months ended September 30, 2024 versus $295,066 for the nine months ended September 30, 2025) as the Company continued to ramp up the development of their products in 2025 in India as well as the US including research studies as well as continuing the steps necessary to be accepted by the FDA, and an increase in payroll expense ($267,153 for the nine months ended September 30, 2024 versus $276,831 for the nine months ended September 30, 2025) related to the CEOs employment contract and bonus.
Previous wording
Non-operating income for the six months ended June 30, 2025 and 2024 were as follows:
Current wording
Non-operating income for the nine months ended September 30, 2025 and 2024 were as follows:
Previous wording
Non-operating income for the six months ended June 30, 2025 and 2024 related to interest earned on the Company’s cash accounts.
Current wording
Non-operating income for the nine months ended September 30, 2025 and 2024 related to interest earned on the Company’s cash accounts.
Previous wording
Our net loss for the six months ended June 30, 2025 and 2024 was $(1,480,209) and $(1,061,997), respectively.
Current wording
Our net loss for the nine months ended September 30, 2025 and 2024 was $(1,987,503) and $(1,887,260), respectively.
Previous wording
Revenue was $15,000 and $13,500 for the three months ended June 30, 2025 and 2024, respectively. All revenue recognized in the three months ended June 30, 2025 and 2024 relate to the procedures performed with respect to the IsoPet® therapies, sales of IsoPet®and freight.
Current wording
Revenue was $1,879 and $5,000 for the three months ended September 30, 2025 and 2024, respectively. All revenue recognized in the three months ended September 30, 2025 and 2024 relate to the procedures performed with respect to the IsoPet® therapies, sales of IsoPet®and freight.
Previous wording
Operating expense for the three months ended June 30, 2025 and 2024 was $640,019 and $525,029, respectively. The increase in operating expense from 2024 to 2025 can be attributed to the increase in professional fees ($279,814 for the three months ended June 30, 2024 versus $358,454 for the three months ended June 30, 2025) related to the fees incurred for the consultants engaged in 2025 versus 2024 and the value of the vested RSUs; the increase in general and administrative expense ($54,925 for the three months ended June 30, 2024 versus $80,913 for the three months ended June 30, 2025); the increase in research and development ($99,662 for the three months ended June 30, 2024 versus $107,965 for the three months ended June 30, 2025) as the Company continued to ramp up the development of their products in 2025 in India as well as the US including research studies as well as continuing the steps necessary to be accepted by the FDA, and an increase in payroll expense ($90,628 for the three months ended June 30, 2024 versus $92,687 for the three months ended June 30, 2025) related to the CEOs employment contract and bonus.
Current wording
Operating expense for the three months ended September 30, 2025 and 2024 was $518,208 and $844,226, respectively. The decrease in operating expense from 2024 to 2025 can be attributed to the decrease in professional fees ($627,152 for the three months ended September 30, 2024 versus $288,037 for the three months ended September 30, 2025) related to the fees incurred for the consultants engaged in 2025 versus 2024 and the decrease in the value of the vested RSUs; the increase in general and administrative expense ($65,123 for the three months ended September 30, 2024 versus $72,904 for the three months ended September 30, 2025); the increase in research and development ($66,551 for the three months ended September 30, 2024 versus $67,820 for the three months ended September 30, 2025) as the Company continued to ramp up the development of their products in 2025 in India as well as the US including research studies as well as continuing the steps necessary to be accepted by the FDA, and an increase in payroll expense ($85,400 for the three months ended September 30, 2024 versus $89,447 for the three months ended September 30, 2025) related to the CEOs employment contract and bonus.
Previous wording
Our net loss for the three months ended June 30, 2025 and 2024 was $(645,513) and $(503,458), respectively.
Current wording
Our net loss for the three months ended September 30, 2025 and 2024 was $(507,294) and $(825,263), respectively.
Previous wording
At June 30, 2025, the Company had working capital of $2,679,098, as compared to working capital of $2,147,247 at December 31, 2024. As of June 30, 2025, the Company did not have any commitments for capital expenditures.
Current wording
At September 30, 2025, the Company had working capital of $2,182,492, as compared to working capital of $2,147,247 at December 31, 2024. As of September 30, 2025, the Company did not have any commitments for capital expenditures.
Previous wording
Net cash used in operating activities for the six months ended June 30, 2025 and 2024, was $1,059,708 and $706,870, respectively. Cash used in operating activities was primarily related to the Company’s net loss from operations, stock-based compensation, as well as the changes in accounts receivable, inventory, prepaid expense, and accounts payable. During the six months ended June 30, 2025 and 2024, there was no cash used in investing activities. Net cash provided by financing activities for the six months ended June 30, 2025 and 2024 was $1,507,750 and $839,000, respectively, consisting of proceeds from the sales of Common Stock and warrants as part of our Regulation A+ Offerings.
Current wording
Net cash used in operating activities for the nine months ended September 30, 2025 and 2024, was $1,518,189 and $1,213,127, respectively. Cash used in operating activities was primarily related to the Company’s net loss from operations, stock-based compensation, as well as the changes in accounts receivable, inventory, prepaid expense, and accounts payable. During the nine months ended September 30, 2025 and 2024, there was no cash used in investing activities. Net cash provided by financing activities for the nine months ended September 30, 2025 and 2024 was $1,507,750 and $839,000, respectively, consisting of proceeds from the sales of Common Stock and warrants as part of our Regulation A+ Offerings.
Previous wording
The Company has generated material operating losses since inception. The Company had a net loss of $1,480,209 for the six months ended June 30, 2025 as compared to a net loss of $1,061,997 for the six months ended June 30, 2024. The Company expects to continue to experience net operating losses for the foreseeable future. Historically, the Company has relied upon investor funds to maintain its operations and develop the Company’s business. The Company anticipates raising additional capital within the next twelve months for working capital as well as business expansion, although the Company can provide no assurance that additional capital will be available on terms acceptable to the Company, if at all. If the Company is unable to obtain additional financing to meet its working capital requirements, it may have to curtail its business or cease all operations.
Current wording
The Company has generated material operating losses since inception. The Company had a net loss of $1,987,503 for the nine months ended September 30, 2025 as compared to a net loss of $1,887,260 for the nine months ended September 30, 2024. The Company expects to continue to experience net operating losses for the foreseeable future. Historically, the Company has relied upon investor funds to maintain its operations and develop the Company’s business. The Company anticipates raising additional capital within the next twelve months for working capital as well as business expansion, although the Company can provide no assurance that additional capital will be available on terms acceptable to the Company, if at all. If the Company is unable to obtain additional financing to meet its working capital requirements, it may have to curtail its business or cease all operations.