INVO Fertility (IVF) Q4 2025 earnings summary

Executive summary

• Revenue grew 5% year-over-year to $6.84 million, with consolidated clinic revenue up 4% to $6.72 million.

• Net loss from continuing operations narrowed to $(5.3) million from $(7.7) million year-over-year.

• Adjusted EBITDA was $(3.2) million, compared to $(2.2) million in the prior year.

• Expanded clinic network to four with the acquisition of Family Beginnings in Indiana.

• Strengthened balance sheet through $11.5 million in new financing and conversion/retirement of preferred stock.

Financial highlights

• Total revenue reached $6.84 million, up from $6.53 million year-over-year.

• Revenue from all clinics (consolidated and equity method) was $8.02 million, up 4%.

• Net loss from continuing operations improved to $(5.3) million from $(7.7) million.

• Adjusted EBITDA was $(3.2) million, compared to $(2.2) million in the prior year.

• Net loss per share was $(214.64) basic, compared to $(3,782.65) in the prior year.

Outlook and guidance

• Management expects to pursue further acquisitions and invest in organic growth, leveraging a strengthened balance sheet.

• Long-term demand for fertility care remains favorable, supported by expanding employer-benefit coverage and public awareness.

• Focus remains on organic growth, integration of Family Beginnings, and expanding the INVOcell platform.