Revenue Performance - Revenue for Q2 2024 was $1,836,597, representing a 481% increase compared to $315,902 in Q2 2023 and a 17% sequential increase from Q1 2024[1] - Clinic revenue surged 611% to $1,807,921 from $254,364, with all reported clinic revenue coming from the INVO Center in Atlanta and the fertility clinic in Middleton[1] - Total revenue from all clinics, including those under the equity method, was $2,141,229, a 201% increase from $712,433[1] Operating Expenses and Profitability - Total operating expenses increased to $3.7 million, up $1.3 million from $2.4 million, primarily due to a one-time non-cash expense of $1.0 million[1] - Adjusted EBITDA improved by $1.1 million to $(0.5) million compared to $(1.6) million in the prior year[1] - The net loss for Q2 2024 was $(2.2) million, consistent with the net loss of $(2.2) million in Q2 2023[1] - INVO's fertility centers are collectively profitable and experiencing sequential revenue growth[2] - The company aims to achieve breakeven with current operations through careful management of corporate expenses[2] Strategic Initiatives - The company plans to resume acquisition and new INVO Center activities in 2025 to accelerate profitability[2] - INVO entered into a definitive merger agreement with NAYA Biosciences for an all-stock transaction, with discussions ongoing for further extensions[2]

Revenue Growth - Total revenue for the second quarter of 2024 was $1,836,597, a significant increase from $315,902 in the same period of 2023, representing a growth of approximately 480%[9] - Clinic revenue reached $1,807,921 in Q2 2024, compared to $254,364 in Q2 2023, marking an increase of about 608%[9] - The company reported a net loss of approximately $3.8 million for the six months ended June 30, 2024, compared to a net loss of $4.8 million for the same period in 2023, indicating a 21% improvement in losses year-over-year[36] - The basic and diluted net loss per common share for the three months ended June 30, 2024, was $(0.62), a significant improvement from $(3.06) for the same period in 2023[33] Financial Position - Total current assets increased to $2,396,063 as of June 30, 2024, up from $1,259,775 at the end of 2023, reflecting a growth of approximately 90%[7] - Cash reserves increased significantly to $942,934 as of June 30, 2024, compared to $232,424 at the end of 2023, representing a growth of approximately 304%[7] - Total liabilities decreased to $16,668,243 as of June 30, 2024, down from $19,994,962 at the end of 2023, a reduction of about 16%[7] - The accumulated deficit as of June 30, 2024, was $(61,910,463), up from $(57,818,145) at the end of 2023, indicating an increase in losses[8] Operating Expenses - Operating expenses for Q2 2024 totaled $3,739,510, compared to $2,381,879 in Q2 2023, indicating an increase of about 57%[9] - Cash used in operating activities decreased to $1,716,214 for the six months ended June 30, 2024, compared to $2,792,860 in the prior year, indicating a 38.6% reduction[12] - Approximately $2.6 million of the net loss for the six months ended June 30, 2024, was related to noncash expenses, compared to $1.4 million for the same period in 2023[36] Shareholder Equity - The weighted average number of common shares outstanding increased to 3,609,812 in Q2 2024, compared to 732,255 in Q2 2023[9] - The total balances as of June 30, 2024, showed an increase in common shares to 3,864,072, with an accumulated deficit of $61,910,463[11] - The company has no current plans to pay dividends on its common stock in the foreseeable future[121] Acquisitions and Joint Ventures - INVO Bioscience completed its first IVF clinic acquisition in August 2023, expanding its operational footprint in the fertility care market[13] - The acquisition of the Wisconsin Fertility Institute was completed for a total purchase price of $10 million, with $2.15 million paid in cash at closing[40] - The company has invested $0.9 million in the Georgia joint venture (Bloom INVO, LLC) and recorded net losses of $47,000 for the six months ended June 30, 2024[47] - The Alabama joint venture (HRCFG INVO, LLC) recorded a net income of $36,000 for the six months ended June 30, 2024, with the Company recognizing a gain of $18,000 from equity method investments[49] Market Strategy - The company aims to pursue additional acquisitions of established and profitable fertility clinics to accelerate growth[155] - The company has identified over 50 suitable locations in the U.S. for new INVO Centers to address the supply-demand imbalance in the fertility market[161] - The company has entered into exclusive distribution agreements in various international markets, including Mexico and Malaysia, with minimum annual purchase requirements[168] Technology and Operations - The proprietary INVOcell technology allows fertilization and early embryo development to occur in vivo, providing a more natural and cost-effective alternative to traditional IVF[156] - INVOcell has received FDA 510(k) clearance for a 5-day incubation period, demonstrating improved patient outcomes[158] - The IVC procedure is offered at INVO Centers for $4,500 to $7,000 per cycle, significantly lower than the average IVF cost of $11,000 to $15,000[163] Financing Activities - The company raised approximately $3 million from the RD Offering and March Warrant Placement, with potential additional proceeds of $3.5 million if the March Warrant is fully exercised[105] - The Company entered into a Revenue Loan and Security Agreement for $1,500,000 with a maturity date of June 29, 2028, with interest varying based on repayment timing[79] - The Company incurred $108,513 in interest related to the RSLA Loan for the six months ended June 30, 2024[80] Merger and Future Plans - The company plans to merge with NAYA Biosciences, with each share of NAYA common stock converting into approximately 7.33333 shares of the company's newly designated common stock[179] - The completion of the merger is contingent upon the sale of 5,000,000 shares of Series A Preferred Stock at $5.00 per share to support fertility business activities[182] - The merger agreement completion is subject to several conditions, including the aggregate liabilities not exceeding $5,000,000[183]

Financial Results Announcement - INVO Bioscience, Inc. announced financial results for the period ended March 31, 2024[4]. - The press release detailing the financial results was issued on May 15, 2024[4]. Company Information - The company is listed on The Nasdaq Stock Market under the trading symbol INVO[2]. - The report does not indicate whether the company is an emerging growth company[3]. Regulatory Compliance - The financial results are not deemed "filed" under the Securities Exchange Act of 1934[5]. - The report includes an interactive data file embedded within the Inline XBRL document[6].

Financial Performance - Total revenue for Q1 2024 was $1,576,286, a significant increase of 353% compared to $348,025 in Q1 2023[17] - Clinic revenue reached $1,537,199 in Q1 2024, up from $297,381 in Q1 2023, representing a growth of 417%[17] - The net loss for Q1 2024 was $1,596,513, a reduction from a net loss of $2,550,879 in Q1 2023, indicating an improvement of approximately 37%[17] - The company reported a basic net loss per share of $0.42 for Q1 2024, compared to a loss of $4.10 per share in Q1 2023[17] - The net loss for the three months ended March 31, 2024, was $1,596,513, a decrease from a net loss of $2,550,879 in the same period of 2023, representing a 37.5% improvement[50] - The basic and diluted net loss per common share improved to $(0.42) for Q1 2024 from $(4.10) in Q1 2023[50] Assets and Liabilities - Total current assets increased to $1,724,946 as of March 31, 2024, compared to $1,259,775 as of December 31, 2023, reflecting a growth of 37%[15] - Total liabilities decreased to $18,307,610 as of March 31, 2024, down from $19,994,962 as of December 31, 2023, a reduction of about 8%[15] - Cash and cash equivalents rose to $475,125 as of March 31, 2024, compared to $232,424 as of December 31, 2023, an increase of 104%[15] - The total stockholders' equity as of March 31, 2024, was $10,155, a decrease from $892,825 as of December 31, 2023[15] Cash Flow and Operating Activities - Net cash used in operating activities decreased to $(260,557) in Q1 2024 from $(1,148,461) in Q1 2023, indicating improved cash flow management[50] - Cash and cash equivalents at the end of the period were $475,125, down from $2,188,245 at the end of Q1 2023[50] - The company had cash paid for interest amounting to $50,804 during the period, compared to no interest paid in the same period of the previous year[50] Research and Development - Research and development expenses significantly decreased to $4,880 in Q1 2024 from $73,520 in Q1 2023, a decline of approximately 93%[17] Acquisitions and Joint Ventures - The company completed its first IVF clinic acquisition in August 2023 and currently operates two INVO Centers in the United States[24] - The Company acquired the Wisconsin Fertility Institute for a total purchase price of $10 million, with $2.15 million paid in cash at closing and the remainder in installments[55] - The Georgia joint venture (Bloom INVO, LLC) recorded net losses of $50,000 for the three months ended March 31, 2024, compared to a net loss of $32,000 for the same period in 2023[65] - The Alabama joint venture (HRCFG INVO, LLC) reported a net income of $0.2 thousand for the three months ended March 31, 2024, recovering from a net loss of $37,000 in the same period of 2023[67] - The Company recognized a total impairment of approximately $0.09 million for its investment in the Mexico joint venture due to operational uncertainties[70] Financing Activities - The company raised $500,000 from the sale of preferred stock during the financing activities in Q1 2024[50] - During the first three months of 2024, the Company raised $0.5 million from preferred stock sales and $0.2 million from note sales, indicating ongoing reliance on capital raising[53] - The Company entered into a Standard Merchant Cash Advance Agreement with Cedar Advance LLC, resulting in a net cash receipt of $356,250 after a gross purchase price of $375,000 for receivables of $543,750[99] - The Company secured a Revenue Loan and Security Agreement for a gross amount of $1,500,000, with a maturity date of June 29, 2028, and varying interest based on repayment timing[102] Stock and Shareholder Matters - The Company approved a reverse stock split at a ratio of 1-for-20, reducing authorized common stock from 125,000,000 to 6,250,000 shares[109] - Shareholders approved an increase in authorized common stock from 6,250,000 to 50,000,000 shares on October 13, 2023[110] - The Company filed a Certificate of Designation for Series A Preferred Stock, authorizing 1,000,000 shares with a stated value of $5.00 per share, convertible at $2.20 per share[111][112] - The Company entered into a share exchange agreement with Cytovia Therapeutics for the acquisition of 1,200,000 shares of Series B Preferred Stock in exchange for 163,637 shares of NAYA's common stock[125][126] - The Company entered into an equity purchase agreement allowing the purchase of up to $10.0 million of common stock in multiple tranches[127] Legal and Compliance - The Company received a notice from Nasdaq indicating non-compliance with the Equity Rule, requiring a minimum stockholders' equity of $2,500,000, as it reported stockholders' equity of $892,825[211] - The Company is subject to various covenants that restrict its ability to declare dividends, make certain investments, or enter into transactions with affiliates, prioritizing the repayment of the FirstFire Note[193] Future Outlook - The Company expects to continue incurring significant operating losses as it ramps up commercialization efforts and develops new INVO Centers[54] - The completion of the merger is subject to several conditions, including a private offering of at least $5,000,000 in gross proceeds and the Company's liabilities not exceeding $5,000,000[174]

Invo Bioscience (NASDAQ:INVO) stock is rocketing higher on Wednesday alongside its earnings report for the fourth quarter of 2023.The healthcare services fertility company reported a net loss of $2 million during the quarter. That’s an improvement over its net loss of $2.8 million from the same period of the year prior.Revenue reported by Invo Bioscience comes in at $1.38 million for Q4 2023. That’s a massive 397% increase over its Q4 2022 revenue of $278,142.Invo Bioscience CEO Steve Shum said the followin ...

☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 or For the transition period from to | --- | --- | --- | --- | --- | |---------------------------------------------------------|---------------------------------------|---------------------|------------------|------------------------------------| | Nevada | 001-39701 | | | 20-4036208 | | (State or other jurisdiction of incorporation | (Commission | | | (IRS Employee | | or organization) | File No.) | | | Identification No ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission File Number: 001-39701 INVO Bioscience, Inc. (Former name, former address and former fiscal year, if changed since la ...

INVO Bioscience, Inc. (NASDAQ:INVO) Q2 2023 Earnings Conference Call August 14, 2023 4:30 PM ET Company Participants Robert Blum - Investor Relations Steve Shum - Chief Executive Officer Mike Campbell - Chief Operating and Vice President, Business Development Andrea Goren - Chief Financial Officer Operator Good afternoon. And welcome, to the INVO Bioscience Second Quarter Fiscal Year 2023 Financial Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note thi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission File Number: 001-39701 INVO Bioscience, Inc. (Exact Name of Registrant as Specified in its Charter) | Nevada | 20-4036208 ...

As filed with the U.S. Securities and Exchange Commission on August 2, 2023 Registration No. 333-273174 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 3 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 (Primary Standard Industrial Classification Code Number) Nevada 3841 20-4036208 (I.R.S. Employer Identification Number) 5582 Broadcast Court Sarasota, Florida, 34240 (978) 878-9505 (Address, including zip code, and telephone number, including area code ...