INVO Bioscience Q1 2023 revenue up 114% to $348k; gross margin improves to 79%

INVO Fertility, Inc.

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

Revenue $348,025 (+114% YoY); consolidated clinic revenue $297,381 (+181% YoY).
Gross margin 79% vs 60% in Q1 2022; adjusted EBITDA loss narrowed to $(1.7)M from $(2.0)M.
All-clinic combined revenue $646,707 (+108% YoY); existing centers nearing break-even.
Acquisition of Wisconsin Fertility Institute for $10M payable over 3 years; closing expected Q2 2023.
Raised ~$3M in registered direct offering; cash balance $2.2M as of March 31, 2023.

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 0.95

INVO Fertility, Inc. reported three months ended March 31, 2023 results: revenue $348,025.

Period: three months ended March 31, 2023
Revenue: $348,025
Result: reported results

Exact text from the filing

Revenue for the three months ended March 31, 2023, was $348,025 compared to $162,598 for the three months ended March 31, 2022.

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INVO Fertility, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-017342

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