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 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 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] - As of September 30, 2025, the Company had total assets of $7,831,342 in the Fertility Clinic segment and $34,671 in the INVOcell segment[189] Liabilities and Equity - Total liabilities as of September 30, 2025, were $12,983,476, down from $26,244,709 as of December 31, 2024, a reduction of 50.6%[12] - As of March 31, 2025, total stockholders' equity is $3,335,365, with accumulated deficit of $(84,873,449)[18] - The Company has substantial doubt about its ability to continue as a going concern for at least one year from the date the financial statements are issued[62] Impairment and Losses - The company reported an impairment loss of $1,397,353 for the nine months ended September 30, 2025[14] - The company reported an impairment loss of $16,042,422 during the nine months ended September 30, 2025[22] - The Company recognized a gain on settlement of $714,500 related to the Settlement Agreement with Dr. Pritts, alongside an impairment loss of $1,397,353[201] Operational Developments - The company has two operational INVO Centers and one IVF clinic in the United States, focusing on expanding access to assisted reproductive technology[25] - The company divested 80.1% of NAYA Therapeutics, Inc. in the second quarter of 2025 to concentrate exclusively on the fertility marketplace[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] Financing and Stock Activity - The Company raised $2.2 million from the sale of preferred stock, $1.0 million from the exercise of warrants, and $8.7 million in net proceeds from a public offering during the first nine months of 2025[61] - The Company raised net proceeds of $8,747,880 from the January 2025 Offering, which included 378,199 units at an offering price of $25.20 per unit[164] - A reverse stock split at a ratio of 1-for-12 was approved on February 24, 2025, and took effect on March 18, 2025, reducing authorized common stock to 12,500,000 shares[136] Future Outlook - The company anticipates future growth through the introduction of new products and market expansion strategies[10] - Management highlighted the importance of regulatory approvals and market acceptance for future product candidates[10] - The company intends to seek additional innovative fertility-focused technologies to license or acquire for its operating clinics[25]
NAYA Biosciences, Inc.(NAYA) - 2025 Q3 - Quarterly Report