INVO Fertility

What INVO Fertility does

INVO Fertility, Inc. (NASDAQ: IVF) is a U.S.-based fertility care company that operates a network of wholly-owned fertility clinics and manufactures the proprietary INVOcell medical device. Headquartered in Sarasota, Florida, the company runs clinics in Wisconsin (Wisconsin Fertility Institute), Alabama (Innovative Fertility Specialists), Georgia (Bloom Fertility), and Indiana (Family Beginnings, acquired February 2026), with a fifth Alabama location added via the HRCFG LLC acquisition in June 2026. Its core technology is INVOcell, the first FDA-cleared intravaginal culture (IVC) device, which enables fertilization and early embryo development to occur inside the patient's body over a 3–5 day incubation period rather than in a traditional IVF laboratory incubator. A modified single-chamber design of the device is covered by U.S. Patent No. 12,544,204 B2, with IP protection running through 2040. The Wisconsin clinic has additionally adopted time-lapse embryo incubation technology, and INVO has integrated Heidi Health's AI-powered clinical documentation platform at that site.

INVO Fertility generates revenue through two primary streams: direct-to-consumer fertility treatment services (IVF, IUI, egg retrieval, embryo transfer, fertility preservation) delivered through its owned clinic network, and sales of the INVOcell device to third-party fertility providers. Treatment pricing is quote-based and varies by protocol, with the company positioning INVOcell as a cost-effective alternative to traditional IVF by reducing laboratory resource requirements. In March 2026, INVO's Wisconsin clinic joined the Progyny fertility benefits network, opening in-network access to employer-sponsored fertility benefit members and adding a third payer channel alongside direct-pay patients and traditional insurance. Management also markets INVOcell internationally through a partnership solicitation program. FY2025 revenue was $6.84M (+5% YoY) with a net loss of $5.3M, and Q1 2026 revenue reached $2.0M (+23% YoY) with a net loss of $5.5M from continuing operations.

The company trades publicly on NASDAQ under the ticker IVF and has executed significant capital structure actions, including a 1-for-5 reverse stock split in March 2026 and an increase in authorized shares from 6.25M to 250M to fund growth. A $4.0M private placement closed in December 2025, bringing cash to $4.9M and stockholders' equity to $15.0M by Q1 2026. INVO has faced Nasdaq compliance challenges stemming from late SEC filings and announced a restatement of its 2025 Q1–Q3 financial statements in June 2026; Nasdaq subsequently closed the non-compliance matter after the Form 10-Q was submitted. The senior leadership team is led by CEO Steve Shum and includes executives with prior experience at Cooper Surgical and other IVF-sector companies.

Name

INVO Fertility

Legal name

INVO Fertility, Inc.

Website

https://invofertility.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

INVO Fertility operates a network of U.S. fertility clinics and manufactures the FDA-cleared INVOcell intravaginal culture device, offering a more affordable alternative to traditional IVF for individuals and couples seeking fertility treatment.

Ownership category

akta.pro rank

Product category

Reproductive Healthcare / Fertility Treatment Services

NAICS

Ambulatory Health Care Services (621), Family Planning Centers (62141), Other Ambulatory Health Care Services (6219)

SIC

Services-Specialty Outpatient Facilities, Nec (8093), Services-Offices & Clinics Of Doctors Of Medicine (8011)

akta.pro primary industry

Fertility, Reproductive Endocrinology & IVF Centers (HLAFAJAD)

akta.pro secondary industry

Reproductive Endocrinology & Infertility (IVF/Fertility) (HLAKAJAC)

Keywords

• Fertility treatment services
• Intravaginal culture device
• Assisted reproductive technology
• IVF clinic operations
• Medical device manufacturing

Headquarters

HQ city

Sarasota

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Fertility Clinic Services: Revenue generated from operating fertility clinics providing assisted reproductive technology services including IVF, IUI, and related treatments. Consolidated clinic revenue grew 5% year-over-year, with four operational clinics across the US as of Q1 2026.
2. INVOcell Device Sales: Revenue from the sale of the proprietary INVOcell medical device used in fertility treatments. The device enables fertilization and early embryo development within the patient's body.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

INVO Fertility operates a growing network of fertility clinics across the United States that deliver assisted reproductive technology services (including IVF, IUI, and INVOcell-based treatments) directly to patients. The company also develops, manufactures, and sells the proprietary INVOcell medical device, the first FDA-cleared intravaginal culture device that enables fertilization and early embryo development to occur inside the patient's body as a lower-cost alternative to traditional IVF.

Product overview

INVO Fertility operates as a healthcare services company offering a unified portfolio of fertility clinic services powered by its proprietary INVOcell technology. The company operates a network of four fertility clinics across the United States (Wisconsin Fertility Institute, Innovative Fertility Specialists, Bloom Fertility, and Family Beginnings), providing comprehensive fertility treatments and reproductive services. The core differentiator is INVOcell, the FDA-cleared intravaginal culture device that enables fertilization and early embryo development to occur within the patient's body, offering a more natural and cost-effective alternative to traditional IVF. The company generates revenue through both fertility clinic services and the sale/commercialization of the INVOcell medical device.

Differentiator

Problem solved

Functional benefit

Brands

• INVOcell: FDA-cleared medical device for intravaginal culture (IVC) fertility treatment, allowing fertilization and early embryo development to occur within the patient's body
• Wisconsin Fertility Institute
• Innovative Fertility Specialists
• Bloom Fertility
• Family Beginnings

Products and services

• INVOcell The first FDA-cleared medical device designed for intravaginal culture (IVC), allowing fertilization and early embryo development to occur within the woman's body rather than in a traditional laboratory incubator. The device is inserted into the upper vaginal cavity for 3-5 days, after which a selected embryo is transferred to the uterus. Sold to fertility clinics and providers as a more cost-effective alternative to traditional IVF.
• Wisconsin Fertility Institute

Quantifiable outcome

• Over 5,000 babies delivered at Wisconsin Fertility Institute since 2007
• +3 more outcomes

Named customers5 records

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability2 records

Feature4 records

Partnerships

One partnership is on record.

• ProgynycoreChannel Partner/ Reseller/ Distributor · 3 March 2026INVO's Wisconsin clinic joined the Progyny network, becoming in-network for Progyny members' fertility benefits. This expands the clinic's market reach and provides access to Progyny's employer-sponsored fertility benefit members.

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• CooperSurgical: CooperSurgical is a division of CooperCompanies and a dominant player in the global IVF medical device and fertility solutions market. It is directly comparable to INVO Fertility as both sell IVF-related medical devices and consumables to fertility clinics, and multiple INVO executives (Jensen, Mitrovic) previously worked there.
• Inception Fertility: Inception Fertility is a US fertility clinic platform operating brands such as The Prelude Network and MyEggBank. It is comparable to INVO as a multi-brand fertility clinic operator pursuing scale through acquisitions of regional practices across the United States.
• Boston IVF: Boston IVF is a long-established US fertility clinic network affiliated with major academic medical centers, providing comprehensive ART services. It is comparable to INVO as a multi-clinic fertility services provider targeting similar patient demographics.
• Prelude Fertility: Prelude Fertility is a US fertility clinic network formed via acquisition roll-up of regional fertility practices. It is comparable to INVO in pursuing a clinic-acquisition growth strategy across US geographies to build a national fertility services platform.
• Shady Grove Fertility: Shady Grove Fertility is a large, multi-state US fertility clinic network offering IVF, IUI, and related treatments. It is comparable to INVO as a US fertility clinic network competing for patients in overlapping regional markets.
• CCRM Fertility: CCRM Fertility operates one of the largest US networks of fertility clinics with in-house lab capabilities and a strong brand among patients. It is comparable to INVO as a multi-clinic fertility services operator with national scale, though much larger and more established.

Direct peers

• Genea Biomedx: Genea Biomedx develops and commercializes IVF lab devices and ART instruments such as time-lapse incubators and embryo culture systems. It is directly comparable to INVOcell as a competing provider of next-generation IVF devices addressing embryology workflow needs.
• Vitrolife: Vitrolife is a Swedish-listed global provider of media, consumables, and devices for assisted reproductive technology, including IVF lab equipment. It is directly comparable to INVO as a supplier of IVF laboratory technology and devices used by fertility clinics worldwide.

Others

• Progyny: Progyny is a US fertility benefits management company whose employer-sponsored members are steered to in-network clinics, including INVO Fertility's Wisconsin location. It is comparable as both a channel partner that drives INVO patient flow and an adjacent ecosystem participant in employer-sponsored fertility care.

Emerging players

• Kindbody: Kindbody is a venture-backed fertility and family-building clinic operator with employer-facing benefits partnerships. It is comparable to INVO as a fertility clinic network pursuing employer-sponsored benefits relationships (Progyny, etc.) and direct-to-consumer fertility services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/INVOBioscience
• LinkedInlinkedin.com/company/invo-bioscience

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries5 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about INVO Fertility