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INVO Bioscience (NASDAQ: INVO) reported its financial results for Q4 and FY 2022, indicating a revenue of $278,142, down 91% year-over-year due to the termination of a licensing agreement. However, clinic revenue surged to $220,253, marking a 25% sequential increase from Q3 2022. The gross margin improved to 72% from 54% in the previous quarter. In 2022, total revenue reached $822,196, a 40% increase, although still significantly lower than the $4.2 million in 2021, primarily due to the loss of licensing revenue. Operational advancements included the acquisition of Wisconsin Fertility Institute for $10 million, projected to enhance revenue streams. INVO also saw a $3.0 million capital raise in March 2023 to support ongoing operations.
INVO Bioscience (NASDAQ: INVO) is set to announce its financial results for Q4 and fiscal year 2022, ending December 31, 2022, after market close on April 17, 2023. Following the release, a conference call will be held at 4:30 pm ET to discuss these results. The company specializes in the fertility sector, focusing on expanding access to its INVOcell medical device and the intravaginal culture procedure, aimed at providing affordable fertility treatments. INVO has operational centers in North America and plans to continue its commercialization strategy.
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INVO Bioscience, Inc. (NASDAQ: INVO) reported preliminary financial results for Q4 and the full year of 2022. Q4 revenue is expected to increase by 15% to 19%, projecting between $270,000 and $280,000, compared to $235,321 in Q3. Full-year revenue for 2022 is anticipated to rise 38% to 40%, estimating $815,000 to $825,000, up from $588,687 in 2021. However, gross revenue for 2022 is expected to decline by roughly 80% due to the termination of a licensing agreement. INVO also reported ongoing clinic revenue growth and the execution of a significant clinic acquisition, aimed at enhancing their business strategy.