INVO Bioscience Q2 revenue up 116% to $316K; closes WFI acquisition for $10M

INVO Fertility, Inc.

Revenue $315,902 (+116% YoY); clinic revenue $254,364 (+126%); all clinics $712,433 (+145%).
Acquired Wisconsin Fertility Institute for $10M (3-yr payment); WFI 2022 rev $5.4M, net income $1.7M.
Adjusted EBITDA -$1.6M (vs. -$2.2M); cash $0.1M at 6/30; $4.5M raised in public offering post-Q.
Expects clinic ops cash flow positive in Q3 2023, overall operating cash flow positive in 2024.
Received FDA 510(k) clearance for expanded use of INVOcell device.

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 the second quarter ended June 30, 2023 results: revenue $315,902.

Period: the second quarter ended June 30, 2023
Revenue: $315,902
Result: reported results

Exact text from the filing

for the second quarter ended June 30, 2023 and provided a business update. Q2 2023 Financial Highlights (all metrics compared to Q2 2022 unless otherwise noted) ● Revenue was $315,902, an increase of 116% compared to $146,135. ● Clinic revenue increased 126% to $254,364, compared to $112,358. All reported clinic revenue is derived from the Company’s INVO

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Source: SEC EDGAR

accession 0001493152-23-028451

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