vVardis files for US IPO showing net loss, revenue growth

Dental company vVardis reported a significant increase in first-half revenue, revealing a more than threefold rise in its US IPO filing. The Zurich-based firm, founded by dentists Haley Abivardi and Goly Abivardi, experienced a net loss of $27.8 million on $28.6 million in revenue for the six months ending June 30 2026. This marked a stark contrast to the previous year's net loss of $32.1 million on $9.1 million in revenue. vVardis specializes in non-invasive treatments for early-stage cavities.

The IPO filing occurs amid a selective US IPO market, where investors are exercising greater caution regarding valuations. Despite the broader macroeconomic uncertainty, healthcare and pharmaceutical companies have managed to maintain their stability. vVardis has already distributed its products to over 20,000 out of the estimated 110,000 general dental practices in the United States.

The company has attracted backing from healthcare investors OrbiMed, Heartland Dental, and affiliates of Apollo Global Management. The funds raised from the IPO will be utilized for working capital, operating expenses, and capital expenditures. The underwriters for the offering include Goldman Sachs, J.P. Morgan, William Blair, UBS Investment Bank, Deutsche Bank Securities, and Apollo Global Securities. The shares will be listed on the NYSE under the ticker symbol VVVV.