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INVO Fertility, Inc. (IVF)·Q2 2025 Earnings Summary

Executive Summary

  • Revenue was $1.86M (+1% YoY; new quarterly record), driven by clinic revenue of $1.83M; product revenue was $31.6K .
  • Net loss widened to $(5.28)M vs $(2.25)M YoY, with continuing ops loss of $(3.21)M; Adjusted EBITDA was $(0.59)M vs $(0.51)M YoY .
  • Operational updates included telehealth launch, PRP therapy addition, and an INVOcell patent allowance extending IP protection through 2040; NAYA divestiture completed June 2, 2025 .
  • No formal quantitative guidance was issued in the Q2 2025 press release, and no earnings call transcript was available; Wall Street consensus estimates via S&P Global were unavailable for EPS and revenue (noted below) .

What Went Well and What Went Wrong

What Went Well

  • Record quarterly total revenue ($1.86M, +1% YoY) and consolidated clinic revenue ($1.83M, +1% YoY); revenue from all clinics (incl. equity method) up 2% to $2.19M .
  • Strategic focus on fertility operations post-NAYA, with CEO stating commitment to “a highly efficient and scalable operating structure” and to “layering in complementary and accretive revenue-generating businesses and technologies” .
  • Innovation and service expansion: telehealth launch and PRP therapy at Wisconsin clinic; INVOcell patent allowance extending protection to 2040, plus expanded clinician/embryology training support .

What Went Wrong

  • Net loss widened materially to $(5.28)M (vs $(2.25)M YoY); continuing ops loss was $(3.21)M, reflecting higher operating expenses and impairment charges .
  • Adjusted EBITDA remained negative at $(0.59)M (vs $(0.51)M YoY), indicating limited operating leverage in the quarter .
  • No explicit revenue/margin guidance or earnings call transcript available to clarify trajectory and near-term levers, limiting visibility for investors .

Financial Results

P&L and Margin Comparison

MetricQ2 2024Q1 2025Q2 2025
Revenue ($USD)$1,836,597 $1,637,185 $1,863,654
Net Income ($USD)$(2,245,170) $(17,403,586) $(5,284,858)
Diluted EPS - Continuing Ops ($USD)$(22.39) $(7.86)*$(7.95)
EBITDA ($USD)$(1,672,575)*$(1,194,032)*$(1,422,998)*
Gross Margin (%)53.08%*38.91%*41.32%*
EBIT Margin (%)(103.61%)*(79.76%)*(85.46%)*
Net Income Margin (%)(122.25%)*N/A*(283.58%)*
Total Operating Expenses ($USD)$3,689,510 $18,744,597 $4,853,742

*Values retrieved from S&P Global.

Segment/Revenue Breakdown

MetricQ2 2024Q1 2025Q2 2025
Consolidated Clinic Revenue ($USD)$1,807,921 $1,621,553 $1,832,094
Product Revenue ($USD)$28,676 $15,632 $31,560
Revenue from All Clinics incl. equity method ($USD)$2,141,229 $1,943,763 $2,188,893

KPIs

KPIQ2 2024Q1 2025Q2 2025
Adjusted EBITDA ($USD)$(509,623) $(606,551) $(587,230)
Net Loss from Continuing Ops ($USD)$(2,245,170) N/A$(3,209,094)
Weighted Avg Shares (Basic)100,276 1,389,141 397,440

Guidance Changes

MetricPeriodPrevious GuidanceCurrent GuidanceChange
RevenueFY/Q3 forwardNone disclosed None disclosed Maintained (no guidance)
Margins (Gross/EBITDA/EBIT)FY/Q3 forwardNone disclosed None disclosed Maintained (no guidance)
OpExFY/Q3 forwardNone disclosed None disclosed Maintained (no guidance)
OI&E / Tax RateFY/Q3 forwardNone disclosed None disclosed Maintained (no guidance)
Segment-specificFY/Q3 forwardNone disclosed None disclosed Maintained (no guidance)
DividendsFY/Q3 forwardNone disclosed None disclosed Maintained (no guidance)

Earnings Call Themes & Trends

No Q2 2025 earnings call transcript found; the analysis below leverages Q1 and Q2 press releases.

TopicPrevious Mentions (Q-2, Q-1)Current Period (Q2 2025)Trend
Strategic focus on fertility operationsQ1 2025: “Company now exclusively focused on the growing fertility market” post NAYA divestiture Continued emphasis; NAYA divestiture completed June 2, 2025 Improving clarity/commitment
Technology/INVOcell innovationQ1 2025: Ongoing sale/distribution of INVOcell; emphasis on affordability and outcomes Patent allowance extends IP to 2040; expanded training/support Strengthening
Clinic growth and servicesQ1 2025: exploring expansion and acquisitions; organic initiatives at existing clinics Telehealth launch; PRP therapy added; Newsweek recognition for Wisconsin clinic Ramping services; brand recognition
Operating efficiencyQ1 2025: aim for cash flow breakeven/profitability, scalable structure “Committed to… efficient and scalable operating structure” Ongoing focus
Regulatory/policy backdropQ1 2025: supportive policy shifts highlighted No new updates in Q2 release Stable backdrop

Management Commentary

  • “Following the decision in April 2025 to refocus exclusively on our fertility operations, we have made progress in driving growth and innovation in our existing operations and in taking key steps required for continued operating improvement moving forward… We ramped up our training support for our INVOcell® technology… in pursuit of our dual mission as an innovator… and healthcare services provider.” — CEO Steve Shum .
  • “We remain committed to our goal of maintaining a highly efficient and scalable operating structure while layering in complementary and accretive revenue-generating businesses and technologies as we move forward.” — CEO Steve Shum .
  • “After announcing the divestiture of a majority stake in NAYA TX, we’ve sharpened our focus on our core mission as a fertility company… bolstered by supportive policy shifts… We’re actively exploring expansion, with a near-term focus on acquisitions… to drive toward… cash flow break-even and profitability.” — CEO Steve Shum (Q1) .

Q&A Highlights

No Q2 2025 earnings call transcript was available; therefore, no Q&A themes or guidance clarifications could be assessed from live remarks [Search: none found; press release only] .

Estimates Context

  • S&P Global consensus estimates for Q2 2025 were unavailable for Primary EPS and Revenue; no # of estimates data returned. Actual revenue reported was $1.86M (for comparison) .
  • With no formal guidance and no consensus, near-term estimate revisions will likely hinge on operational updates (service expansion, INVOcell adoption/training) rather than quantified targets .

Values from S&P Global where marked with *.

Key Takeaways for Investors

  • Clinic-led growth delivered a record $1.86M quarter (+1% YoY), while Adjusted EBITDA remains negative, underscoring the need for cost discipline and operating leverage improvements .
  • Strategic refocus on core fertility operations (post-NAYA) plus INVOcell IP extension to 2040 strengthens the long-term platform for device-enabled services and clinical adoption .
  • New service offerings (telehealth, PRP) and clinician/embryology training support could expand reach and utilization, supporting multi-clinic revenue growth over time .
  • Lack of quantitative guidance and the absence of an earnings call transcript limit near-term visibility; watch for subsequent filings or updates to track progress toward breakeven/profitability goals .
  • Near-term monitoring: clinic volumes, product sales trajectory, OpEx control, and any acquisition activity or new INVO Centers that can accelerate scale .
  • Medium-term thesis: differentiated IVC procedure economics and device-driven workflow may support a lower-cost care model with attractive unit economics as utilization scales .

Notes on information gathering: We read the full Q2 2025 8-K press release and financial tables , and the Q1 2025 8-K press release and financial tables . No Q2 2025 earnings call transcript or additional Q2 press releases were found via document search.