Revenue and Growth - Total revenue for the three months ended September 30, 2025, was $1,757,094, an increase of 22.6% compared to $1,433,151 for the same period in 2024[14] - Clinic revenue for the nine months ended September 30, 2025, reached $5,175,870, up from $4,763,131 in 2024, reflecting an increase of 8.7%[14] - For the nine months ended September 30, 2025, total consolidated revenue was $5,257,933, an increase from $4,846,034 for the same period in 2024, representing an increase of approximately 8.5%[189][190] - The Clinic Services segment generated revenue of $5,175,870, while the INVOcell Device segment contributed $82,063, with no revenue from the Therapeutics segment[189] Expenses and Losses - Total operating expenses for the three months ended September 30, 2025, were $3,392,578, compared to $2,733,553 in 2024, representing a 24.2% increase[14] - The net loss from continuing operations for the three months ended September 30, 2025, was $2,644,625, compared to a loss of $1,630,662 in 2024, indicating a deterioration in performance[14] - The company reported a loss from operations of $1,635,484 for the three months ended September 30, 2025, compared to a loss of $1,300,402 in 2024, reflecting increased operational challenges[14] - The net loss for the nine months ended September 30, 2025, was $25,333,069, compared to a net loss of $5,472,345 for the same period in 2024[22] - The Company reported a net loss before taxes of $25,333,069 for the nine months ended September 30, 2025, compared to a loss of $5,441,250 for the same period in 2024[189][190] Cash and Assets - Cash and cash equivalents as of September 30, 2025, were $355,891, down from $619,520 as of December 31, 2024, a decrease of 42.5%[12] - Total assets decreased to $18,832,198 as of September 30, 2025, from $46,449,182 as of December 31, 2024, a decline of 59.5%[12] - The carrying value of the Company's investment in unconsolidated VIEs was $613,771 as of September 30, 2025, down from $740,759 in December 2024[79] - Cash used in operating activities for the nine months ended September 30, 2025, was $7,039,692, significantly higher than $2,357,021 in 2024[22] Equity and Stock Issuance - As of March 31, 2025, the total stockholders' equity for INVO Fertility, Inc. was $3,335,365, with accumulated deficit amounting to $(84,873,449)[18] - Common stock issued to service providers totaled 10,167 shares, raising $692,265 in capital[18] - A total of 87,720 shares were issued for debt conversion, resulting in $2,680,000 in additional capital[18] - The Company completed a public offering on January 14, 2025, raising net proceeds of $8,747,880 from the sale of 378,199 units at an offering price of $25.20 per unit[164] Strategic Focus and Future Plans - The company anticipates continued focus on market expansion and new product development in the upcoming quarters[10] - The company intends to seek additional innovative fertility-focused technologies to license or acquire for its operating clinics[25] - 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[61] Regulatory and Market Considerations - Management highlighted the importance of regulatory approvals and market acceptance for future product candidates as key factors influencing performance[10] - The Company is in the process of assessing the impacts from the tax law changes in the One Big Beautiful Bill Act but does not expect a material impact on its financial statements[193] Debt and Financing - The Company incurred $60,667 in interest related to demand notes for the nine months ended September 30, 2025[99] - The Company secured a Revenue Loan of $1,500,000 on September 29, 2023, with a maturity date of June 29, 2028, and incurred $288,442 in interest for the nine months ended September 30, 2025[103][104] - The Company incurred accrued compensation of $342,957 as of September 30, 2025, primarily related to paid time off[135] Divestitures and Mergers - The company divested 80.1% of NAYA Therapeutics, Inc. in the second quarter of 2025 to concentrate on the fertility marketplace[25] - The Company divested 80.1% of its subsidiary NTI during the second quarter of 2025, impacting the Therapeutics segment's financial results[188] Impairments and Losses - The company reported an impairment loss of $16,042,422 during the nine months ended September 30, 2025[22] - The Company recognized an impairment of $1,397,353 on the noncompetition agreement related to the WFI acquisition[85]
INVO BioScience(INVO) - 2025 Q3 - Quarterly Report