INVO Fertility (IVF) AI Stock Analysis

• Market Cap: $6.95M
• Dividend Yield: N/A
• Average Volume (3M): 8.28M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.01
• Revenue Growth: 11.50%
• EPS Growth: 2.37%
• Country: US
• Employees: 30
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -6.16
• Shares Outstanding: 6,961,095
• 10 Day Avg. Volume: 24,408,967
• 30 Day Avg. Volume: 8,279,900
• PEG Ratio: -0.02
• Price to Book (P/B): 5.66
• Price to Sales (P/S): 11.05
• P/FCF Ratio: -22.86
• Enterprise Value/Market Cap: 0.59
• Enterprise Value/Revenue: 0.59
• Enterprise Value/Gross Profit: 1.51
• Enterprise Value/Ebitda: -0.17
• 1Y Price Target: $4.00
• Price Target Upside: 330.11% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: $1.00 ▲(7.53% Upside)
• Action: Upgraded Date: 01/28/26
• Date: Action: Upgraded 01/28/26

The score is primarily held back by weak financial performance (persistent losses, declining gross margin, and negative operating/free cash flow). Technicals are only mildly supportive, while valuation lacks support due to negative earnings and no dividend data. Corporate events are mixed—growth initiatives and financing help, but dilution risk and the reverse split temper the upside.

Positive Factors

Clinic network expansion via acquisitions

The targeted acquisition adds a revenue-generating clinic and a contractually committed medical director, accelerating scale in a fragmented fertility market. Durable impact: expanded local footprint, incremental recurring procedure revenue, and faster path to operating leverage as clinics integrate into INVO's network.

Leadership realignment focused on clinic growth

Internal promotion preserves financial continuity while shifting the former CFO into a growth role to lead clinic acquisitions and launches. Structurally, clearer executive focus on M&A and operations improves execution capability for scaling clinics and integrating acquisitions over the medium term.

Improving leverage and free cash flow growth

Lower leverage and rising free cash flow growth, albeit from a negative base, indicate improving financial discipline and capacity to support organic clinic expansion or service investment. This strengthens funding optionality and reduces marginal financing costs over the coming quarters.

Negative Factors

Persistent unprofitability and collapsing gross margin

A dramatic gross margin decline and ongoing negative operating profitability point to structural cost pressures or lower service pricing mix. This undermines the company's ability to convert revenue growth into sustainable profits and constrains reinvestment and debt-servicing capacity.

High dilution risk from equity-linked financings

Frequent equity-linked financings and a dramatic increase in authorized shares materially raise dilution risk. Over the medium term, this can impair per-share economics, weaken shareholder returns, and signal reliance on equity rather than operational cash generation to fund growth.

Negative operating and free cash flow

Continued negative operating and free cash flows indicate the business is not yet self-funding clinic expansion. Reliance on external capital to cover operating deficits increases execution risk for rollout plans and may force further dilutive financing if operational improvements lag.

INVO Fertility Business Overview & Revenue Model

Company Description

INVO Fertility is a leading provider of in vitro fertilization (IVF) services, specializing in advanced reproductive technologies to assist individuals and couples facing fertility challenges. The company operates fertility clinics across the United States, offering a comprehensive range of services including fertility assessments, IVF procedures, egg freezing, and donor egg programs. INVO Fertility is committed to providing personalized care and innovative solutions, guided by a team of experienced reproductive endocrinologists and healthcare professionals.

How the Company Makes Money

INVO Fertility generates revenue primarily through the provision of IVF services and related fertility treatments. The company charges patients for various services including initial consultations, diagnostic tests, IVF cycles, egg retrievals, and embryo transfers. Additional revenue streams include payments for ancillary services such as sperm banking, genetic testing, and medication prescriptions. INVO Fertility may also partner with insurance companies to offer patients coverage options, which can further enhance revenue. Additionally, the company may engage in strategic partnerships with pharmaceutical companies for the supply of fertility medications, which can provide additional income through negotiated agreements.

INVO Fertility Financial Statement Overview

Summary

Despite modest TTM revenue growth (4.89%), profitability remains weak with negative net and EBIT margins and a sharp gross margin decline (96.51% in 2021 to 39.17% TTM). Balance sheet leverage has improved (debt-to-equity 0.72), but negative ROE and negative operating/free cash flow indicate ongoing operational and cash-generation challenges.

Income Statement

INVO Fertility's income statement shows a consistent increase in revenue over the years, with a TTM revenue growth rate of 4.89%. However, the company is struggling with profitability, as indicated by negative net profit margins and EBIT margins. The gross profit margin has decreased from 96.51% in 2021 to 39.17% in TTM, reflecting increased cost pressures. Overall, the company is experiencing growth but is facing significant profitability challenges.

Balance Sheet

The balance sheet reveals a moderate debt-to-equity ratio of 0.72 in TTM, which is an improvement from previous years, indicating better leverage management. However, the return on equity remains negative, suggesting inefficiencies in generating returns on shareholder investments. The equity ratio is not explicitly calculated, but the company's equity position has been volatile, impacting financial stability.

Cash Flow

INVO Fertility's cash flow statement highlights challenges in cash generation, with negative operating and free cash flows. The free cash flow growth rate is positive at 17.27% in TTM, indicating some improvement. However, the operating cash flow to net income ratio is negative, reflecting ongoing operational inefficiencies. The free cash flow to net income ratio is slightly above 1, suggesting that cash flow is somewhat aligned with net income, despite being negative.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Dec 2020
Income Statement
Total Revenue	6.94M	6.53M	3.02M	822.20K	4.16M	1.04M
Gross Profit	2.72M	2.87M	1.09M	-28.57K	4.02M	948.53K
EBITDA	-24.39M	-7.14M	-6.88M	-10.75M	-5.22M	-5.48M
Net Income	-28.96M	-9.10M	-8.03M	-10.89M	-6.65M	-8.35M
Balance Sheet
Total Assets	18.83M	46.45M	18.51M	3.71M	10.47M	10.95M
Cash, Cash Equivalents and Short-Term Investments	355.89K	741.40K	232.42K	90.14K	5.68M	10.10M
Total Debt	4.23M	9.90M	6.30M	2.27M	2.12M	775.02K
Total Liabilities	12.98M	33.70M	17.61M	4.69M	3.16M	5.20M
Stockholders Equity	5.85M	12.75M	892.83K	-977.61K	7.31M	5.74M
Cash Flow
Free Cash Flow	-7.77M	-3.16M	-5.20M	-6.62M	-6.48M	-4.86M
Operating Cash Flow	-7.66M	-2.97M	-4.76M	-6.60M	-6.03M	-4.78M
Investing Cash Flow	354.98K	363.89K	-2.49M	-81.22K	-2.15M	-187.25K
Financing Cash Flow	7.19M	3.12M	7.39M	1.09M	3.77M	13.82M

INVO Fertility Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.93
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IVF, the sentiment is Negative. The current price of 0.93 is below the 20-day moving average (MA) of 1.15, below the 50-day MA of 1.11, and below the 200-day MA of 12.21, indicating a bearish trend. The MACD of -0.10 indicates Positive momentum. The RSI at 43.88 is Neutral, neither overbought nor oversold. The STOCH value of 25.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IVF.

INVO Fertility Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
IVF	46 Neutral	$6.95M	>-0.01	-922.88%	―	11.50%	2.37%

INVO Fertility Corporate Events

INVO Fertility Announces Warrant Inducement Financing Agreement

On January 28, 2026, INVO Fertility entered into a warrant inducement agreement with an institutional investor, under which the investor agreed to immediately exercise previously issued December 3, 2025 warrants for 4,733,728 shares at a reduced exercise price of $1.59 per share, generating approximately $7.5 million in gross proceeds before fees and expenses, and on January 30, 2026 the company issued new unregistered warrants for 9,467,456 additional shares at the same exercise price. In connection with the transaction, which Maxim Group LLC advised as exclusive lead warrant solicitation agent, INVO Fertility committed to register the resale of the new warrant shares, accepted restrictions on additional share or variable-rate financings for a defined period, and made the new warrants’ exercisability and five-and-a-half-year term contingent on future shareholder approval, underscoring both its reliance on equity-linked financing and the potential dilution and capital-structure implications for existing shareholders.

The most recent analyst rating on (IVF) stock is a Sell with a $1.50 price target. To see the full list of analyst forecasts on INVO Fertility stock, see the IVF Stock Forecast page.

INVO Fertility Expands Share Authorization and Equity Flexibility

On January 22, 2026, INVO Fertility, Inc. shareholders approved a major increase in authorized common stock from 6,250,000 to 250,000,000 shares and the company filed a corresponding amendment to its Articles of Incorporation the same day, significantly expanding its capacity to issue new equity. At a special meeting on January 22, 2026, stockholders also ratified the appointment of WithumSmith+Brown, PC as independent public accountant for 2025, approved the Nasdaq-related issuance of up to 4,733,728 shares upon exercise of a warrant from a December 4, 2025 private placement (plus any adjustment shares), authorized the expansion of the 2019 Stock Incentive Plan to 1,000,000 shares (about 10% of fully diluted outstanding stock), and endorsed potential adjournments for additional proxy solicitation, collectively enhancing INVO Fertility’s financial flexibility, capacity for capital raising, and ability to use equity-based incentives.

The most recent analyst rating on (IVF) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on INVO Fertility stock, see the IVF Stock Forecast page.

INVO Fertility realigns leadership to accelerate clinic growth

On December 30, 2025, INVO Fertility announced a realignment of its executive leadership team to better support its growth strategy centered on acquiring and establishing fertility clinics and related businesses. Company controller Terah Krigsvold, with the firm since 2020, was promoted to chief financial officer, succeeding Andrea Goren, who moved into the roles of chief business officer and chief executive officer of INVO Centers LLC, the subsidiary overseeing fertility clinics. Management emphasized that the changes are intended to maintain continuity in finance while freeing Goren to leverage his experience in financing and acquisition transactions to drive clinic acquisitions, new clinic launches, and related legal, diligence, and investor-relations activities, underscoring a sharper operational focus on scaling the clinic network and moving the business toward profitability.

The most recent analyst rating on (IVF) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on INVO Fertility stock, see the IVF Stock Forecast page.

INVO Fertility signs agreement to acquire assets

INVO Fertility, Inc. has signed a definitive agreement to acquire the non-clinical assets of Family Beginnings, a well-regarded fertility clinic in Indianapolis, Indiana, for $750,000. The acquisition is expected to close by February 27, 2026, subject to conditions such as regulatory approvals. This deal reflects INVO’s strategic plan to grow its network of fertility centers across the U.S. and enhance its offerings by integrating Family Beginnings’ well-established services, which generated $1.2 million in revenue over the past year. Dr. James Donahue, the clinic’s owner and medical director, will continue leading the clinic under a three-year contract. The acquisition aligns with INVO’s mission to improve access to fertility care and could strengthen its market position as a leading provider of innovative ART solutions.

The most recent analyst rating on (IVF) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on INVO Fertility stock, see the IVF Stock Forecast page.

INVO Fertility Announces $4M Private Placement Agreement

On December 2, 2025, INVO Fertility, Inc. announced a securities purchase agreement with an institutional investor to raise approximately $4 million through a private placement. The company plans to use the proceeds to fund the acquisition of Family Beginnings, P.C., pay down debt, and for general corporate purposes. This strategic move is expected to enhance INVO Fertility’s market positioning by expanding its clinic operations and improving financial stability. The offering, facilitated by Maxim Group LLC, is set to close on December 3, 2025, subject to customary conditions.

The most recent analyst rating on (IVF) stock is a Sell with a $1.50 price target. To see the full list of analyst forecasts on INVO Fertility stock, see the IVF Stock Forecast page.

INVO Fertility Implements Reverse Stock Split

On November 26, 2025, INVO Fertility filed a Certificate of Change to implement a 1-for-8 reverse stock split of its common stock, which became effective on November 28, 2025. This adjustment reduced the number of issued and outstanding shares and proportionately adjusted authorized shares, stock options, and warrants. The company’s stock continues to trade on Nasdaq under the symbol ‘IVF’ with a new CUSIP number. This strategic move is expected to impact the company’s market positioning by potentially increasing the stock’s market value and attracting more investors.

The most recent analyst rating on (IVF) stock is a Sell with a $1.50 price target. To see the full list of analyst forecasts on INVO Fertility stock, see the IVF Stock Forecast page.