INVO Bioscience reports 2022 revenue $0.8M, cash $0.1M; EBITDA loss widens to $(8.4)M

INVO Fertility, Inc.

2023-Q1 EPS reported -$0.20 revenue$348,025

FY 2022 revenue $822K (up 40% excl. Ferring license); Q4 revenue $278K, up 18% sequentially.
Adjusted EBITDA loss of $(8.4)M vs $(2.8)M in 2021; includes $0.3M acquisition costs and IP write-down.
Cash $0.1M at Dec 31, 2022; $3.0M gross raised in March 2023 registered direct offering.
Signed binding agreement to acquire Wisconsin Fertility Institute for $10M payable over 3 years; expected close Q2 2023.
Clinic revenue from all centers up 726% to $1.6M; Atlanta center contributed $614K.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

INVO Fertility, Inc. reported fourth quarter ended December 31, 2022 results: revenue $278,142.

Period: fourth quarter ended December 31, 2022
Revenue: $278,142
Result: reported results

Exact text from the filing

Q4 2022 Financial Highlights (all metrics compared to Q4 2021 unless otherwise noted) ● Revenue was $278,142, compared to $12,532 (excluding license revenue), and was up 18% sequentially compared to the third quarter of 2022.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

INVO Fertility, Inc. reported year ended December 31, 2022 results: revenue $822,196.

Period: year ended December 31, 2022
Revenue: $822,196
Result: reported results

Exact text from the filing

2022 Financial Highlights (all metrics compared to 2021 unless otherwise noted) ● Revenue increased 40% to $822,196 compared to $588,687 (excluding license revenue) in the prior year.

View on SEC.gov

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INVO Fertility, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-012538

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