INVO Fertility Posts 5% Revenue Growth to $6.84M, Raises $11.5M and Acquires Indiana Clinic
IVF•INVO Fertility reported FY2025 revenue of $6.84 million, up 5%, with net loss narrowing to $5.3 million from $7.7 million and adjusted EBITDA at a $(3.2) million loss. The company raised $11.5 million in financing, retired all Series C-2 shares and acquired Family Beginnings, boosting its clinic network to four.
1. Fiscal Year 2025 Financial Results
INVO reported FY2025 revenue of $6.84 million, a 5% increase over FY2024. Net loss from continuing operations narrowed to $5.3 million versus $7.7 million a year earlier, while adjusted EBITDA was a $(3.2) million loss compared to $(2.2) million.
2. Strengthened Capital Structure
In December 2025 and January 2026, the company closed financings totaling $11.5 million, retiring all Series C-2 preferred shares and eliminating warrant liabilities. Cash balances increased and common shares outstanding stand at approximately 1.8 million, simplifying the capitalization structure.
3. Clinic Acquisition and Network Expansion
INVO acquired Indiana-based Family Beginnings in February 2026, adding a fourth U.S. fertility clinic that generated $1.2 million revenue and $0.2 million net income over the trailing twelve months. Wisconsin Fertility Institute also joined the Progyny network, enhancing employer-benefit access.
4. Innovation and Strategic Outlook
The company secured a new patent for its modified INVOcell device, extending exclusivity through 2040, and launched time-lapse incubation technology at its Wisconsin clinic. Organic growth initiatives in Atlanta began in March 2026, while management targets disciplined acquisitions and clinic integration to drive future growth.
