INVO Bioscience reports FY2023 revenue $3.02M (+267% YoY); net loss narrows to $8.0M

INVO Fertility, Inc.

2024-Q1 EPS reported -$0.42 revenue$1,576,286

FY2023 revenue $3,020,575, up 267% from $822,196; clinic revenue increased 366% to $2,862,574.
FY2023 net loss $(8.0)M vs $(10.9)M; adjusted EBITDA $(5.1)M vs $(8.4)M.
Q4 2023 revenue $1.38M, up 397% YoY; operating expenses decreased to $2.9M.
Merger: INVO to acquire NAYA in all-stock; NAYA shareholders get 7.3333 INVO shares per share; conditions include shareholder approval and $2M+ PIPE.
NAYA has provided ~$805,000 in financing to date; management expects to file updated proxy S-4 soon.

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 0.92

INVO Fertility, Inc. reported the fourth quarter and fiscal year ended December 31, 2023 results: revenue $1,381,754, net income $(2.0) million.

Period: the fourth quarter and fiscal year ended December 31, 2023
Revenue: $1,381,754
Net income: $(2.0) million
Result: reported results

Exact text from the filing

INVO Reports Fourth Quarter and Full Year 2023 Financial Results SARASOTA, Fla., April 16, 2024 -- INVO Bioscience, Inc. (Nasdaq: INVO) (“INVO” or the “Company”), a healthcare services fertility company focused on expanding access to advanced treatment worldwide through the establishment and acquisition of fertility clinics, and with the intravaginal culture (“IVC”) procedure enabled by its INVOcell® medical device, today announced financial results for the fourth quarter and fiscal year ended December 31, 2023 and provided a business update. Q4 2023 Financial Highlights (all metrics compared to Q4 2022 unless otherwise noted) ● Revenue was $1,381,754, an increase of 397% compared to $278,142. ● Clinic revenue increased 519% to $1,362,938, compared to $220,253. All reported clinic revenue is derived from the Company’s INVO Center in Atlanta, Georgia, and fertility clinic in Madison, Wisconsin which are consolidated in the Company’s financial statements. ● Revenue from all clinics, incl

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Source: SEC EDGAR

accession 0001493152-24-014846

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