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]
INVO BioScience(INVO) - 2024 Q2 - Quarterly Results