The headline net income beat vs. a stale -$5.60 consensus is misleading due to massive share count changes and a one-time gain. Focus on the worsening Adjusted EBITDA loss (-$1.0M vs -$0.6M) and the $3.7M cash burn rate — the company needs either sustained clinic-level profitability or additional financing to avoid further dilution. Monitor the next 10-Q for organic revenue growth ex-acquisitions and cash runway updates.
Price Chart
Executive Summary
INVO Fertility reported Q2 2026 revenue of $2.18M (+17% YoY) and net income of $0.9M (vs. a -$3.6M loss in Q2 2025), driven by a full quarter from the Family Beginnings acquisition and a $2.5M gain on remeasurement from the Birmingham acquisition. However, Adjusted EBITDA worsened to -$1.0M from -$0.6M, and the company remains a micro-cap with $3.7M cash and a $2M market cap, making the reported net income non-recurring and the underlying operating losses the real story.
Key Financial Metrics
Key Facts
- Q2 2026 revenue $2.18M, +17% YoY from $1.86M
- Net income of $0.9M vs. net loss of -$3.6M in Q2 2025, driven by $2.5M gain on remeasurement from Birmingham acquisition
- Adjusted EBITDA worsened to -$1.0M from -$0.6M in Q2 2025
- Clinic-Level Adjusted EBITDA improved to $333k from $164k in Q1 2026
- Cash balance $3.7M at June 30, 2026, vs. $2.1M at Dec 31, 2025
- Shares outstanding 2,506,969 as of Aug 14, 2026, up from ~9,936 in Q2 2025 (massive dilution)
Financial Impact
Revenue growth of $312k (+17%) YoY, but Adjusted EBITDA loss widened by $445k. Net income of $0.9M is non-recurring due to $2.5M gain on remeasurement.
Risk Factors
- Adjusted EBITDA loss widening despite revenue growth; corporate overhead consuming clinic profits
- Cash burn rate: $3.7M cash at June 30 vs. $2.1M at Dec 31, 2025 — net cash build of $1.6M likely from acquisition-related financing, not operations
- Massive share dilution (shares outstanding from ~9,936 to 2.5M in one year) obscures per-share comparisons
- Non-recurring $2.5M gain on remeasurement inflates net income; underlying operating loss persists
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3346109 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 9, 2026 17d ago | SC 13G/A | $0.7275 $0.5576 | ▲ +23.35% | ▲ +21.39% | $0.5700 (+21.65%) |
Aug 28, 2026 8w ago | 8-K | $1.00 $0.9850 | ▲ +1.50% | ▲ +1.61% | $0.5700 (+43.00%) |
Aug 17, 2026 10w ago | 8-K | $1.53 $1.03 | ▼ −32.68% | ▼ −31.49% | $0.5700 (−62.75%) |
Aug 17, 2026 10w ago | Press Release | $1.53 $1.03 | ▲ +32.68% | ▲ +31.49% | $0.5700 (+62.75%) |
Aug 5, 2026 11w ago | EFFECT | $1.08 $1.01 | ▲ +6.05% | ▲ +6.40% | $0.5700 (+46.98%) |
Jun 25, 2026 17w ago | 8-K | $2.45 $1.62 | ▼ −33.88% | ▼ −36.04% | $0.5700 (−76.73%) |
Jun 22, 2026 18w ago | Press Release | $1.39 $2.45 | ▼ −76.26% | ▼ −78.33% | $0.5700 (+58.99%) |
Jun 16, 2026 18w ago | 8-K | $1.59 $1.32 | ▼ −16.98% | ▼ −15.94% | $0.5700 (−64.15%) |
Jun 2, 2026 20w ago | Press Release | $1.70 $1.41 | ▲ +17.06% | ▲ +13.24% | $0.5700 (+66.47%) |
Jun 2, 2026 20w ago | 8-K | $1.52 $1.40 | ▼ −7.89% | ▼ −4.93% | $0.5700 (−62.50%) |
US Market Status
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