INVO Fertility (IVF) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 increased 23% year-over-year to $2,015,225, driven by organic growth and the acquisition of Family Beginnings clinic.

• Net loss from continuing operations was $5.5 million, a significant improvement from the $17.4 million loss in Q1 2025, which included discontinued operations.

• The company completed the acquisition of Family Beginnings in February 2026, expanding its clinical footprint to four operational fertility clinics in the U.S.

• All Series C-2 Preferred Stock and warrant liabilities were eliminated, significantly strengthening the balance sheet.

• Focused exclusively on fertility services following the divestiture of NAYA Therapeutics in 2025.

Financial highlights

• Q1 2026 revenue: $2,015,225, up from $1,637,185 in Q1 2025.

• Cost of services rose to $1.3 million, up 23% year-over-year, in line with revenue growth.

• Selling, general, and administrative expenses increased to $2.2 million, up 40% year-over-year, mainly due to higher professional fees and personnel costs.

• Net loss from continuing operations: $5.5 million (Q1 2026) vs. $1.5 million (Q1 2025); Q1 2025 included a $15.9 million loss from discontinued operations.

• Adjusted EBITDA was $(1.26) million, reflecting investments in expansion.

Outlook and guidance

• Plans to expand fertility operations through organic growth, integration of current clinics, and disciplined acquisitions.

• Management expects operational investments to drive future growth and Adjusted EBITDA improvements throughout 2026.

• Ongoing efforts to grow INVOcell device sales within company clinics and to third-party clinics.

• Substantial doubt remains about the ability to continue as a going concern without additional funding.