Revenue Performance - Total revenue for Q2 2025 was $1.86 million, a slight increase from $1.84 million in Q2 2024, representing a growth of 0.6%[15] - Clinic revenue reached $1.83 million in Q2 2025, compared to $1.81 million in Q2 2024, indicating a growth of 1.4%[15] - Product revenue decreased to $31,560 in Q2 2025 from $28,676 in Q2 2024, reflecting a decline of 10.5%[15] - Total consolidated revenue for the six months ended June 30, 2025, was $3,500,839, an increase from $3,412,883 in the same period of 2024, representing a growth of approximately 2.6%[171] - Revenue from external customers in the Fertility Clinic Services segment was $3,453,647 for the six months ended June 30, 2025, compared to $3,345,120 in 2024, indicating a year-over-year increase of about 3.3%[171] Operating Expenses and Losses - Total operating expenses increased to $4.85 million in Q2 2025 from $3.69 million in Q2 2024, marking a rise of 31.5%[15] - The net loss for Q2 2025 was $5.28 million, compared to a net loss of $2.25 million in Q2 2024, indicating a significant increase in losses[15] - The company reported a total segment loss of $(17,554,365) for the six months ended June 30, 2025, compared to a profit of $626,867 in the same period of 2024, reflecting a significant decline in profitability[171] - The cost of revenue for the six months ended June 30, 2025, was $2,178,420, up from $1,738,974 in 2024, marking an increase of approximately 25.3%[171] - The company reported a net loss of $17,403,586 for the year ending March 31, 2025[19] Cash and Assets - Cash and cash equivalents as of June 30, 2025, were $549,181, down from $619,520 as of December 31, 2024, a decrease of 11.3%[13] - Total current assets increased to $1.40 billion as of June 30, 2025, compared to $1.32 billion as of December 31, 2024, an increase of 6.1%[13] - As of June 30, 2025, the Company had total assets of $8,679,223, a decrease from $11,328,414 as of June 30, 2024[171] Liabilities and Equity - Total liabilities decreased to $16.69 billion as of June 30, 2025, from $26.24 billion as of December 31, 2024, a reduction of 36.5%[13] - The accumulated deficit increased to $90.20 million as of June 30, 2025, compared to $67.16 million as of December 31, 2024, reflecting a rise of 34.3%[13] - The total stockholders' equity as of June 30, 2025, was $2,631,473, with an accumulated deficit of $90,203,241[19] Stock and Financing Activities - The company raised $8,747,902 from the sale of common stock, net of offering costs, in 2025, compared to $165,131 in 2024[21] - The company issued 72,545 shares of common stock, net of fees and expenses, totaling $8,747,902[19] - The company approved a reverse stock split at a ratio of 1-for-12 on March 18, 2025, and a subsequent reverse stock split at a ratio of 1-for-3 on July 21, 2025[123][124] - On July 23, 2025, the stockholders approved an increase in the number of authorized shares of common stock from 1,388,888 to 50,000,000[125] Impairment and Other Charges - The company reported an impairment loss of $16,042,422 in 2025, which was not present in 2024[21] - The Company recognized an impairment of $1,397,353 on the noncompetition agreement related to the WFI acquisition[79] Divestitures and Strategic Changes - The divestiture of NAYA Therapeutics, which represented a strategic shift, was completed in the second quarter of 2025[24] - The company divested its Therapeutics segment during the second quarter of 2025, which did not generate revenue[50] - The Company divested 80.1% of its subsidiary NTI during the second quarter of 2025, impacting the Therapeutics segment's financial results[170] Joint Ventures and Investments - As of June 30, 2025, the Georgia JV recorded net losses of $32,000 and $47,000 for the six months ended June 30, 2025, and 2024, respectively[69] - The Alabama JV recorded a net loss of $10,000 for the six months ended June 30, 2025, compared to a net income of $36,000 for the same period in 2024[71] - The Company invested $0.9 million in the Georgia JV and $1.1 million in the Alabama JV as of June 30, 2025[69][71] Future Outlook and Plans - The company intends to seek additional innovative fertility-focused technologies for licensing or acquisition to enhance its service offerings[24] - The company plans to grow the Wisconsin Fertility Institute and pursue the acquisition of additional U.S.-based, profitable IVF clinics over the next 12 months[54]
NAYA Biosciences, Inc.(NAYA) - 2025 Q2 - Quarterly Report