v3.26.1
Segment Reporting
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting

Note 16 – Segment Reporting

 

The Company’s Chief Operating Decision Maker (“CODM”) as defined under GAAP is the Company’s Chief Executive Officer.

 

The Company defines its segments on the basis of the way in which internally reported financial information is regularly reviewed by the CODM to analyze financial performance, make decisions, and allocate resources. The Company has analyzed its operations per ASC 280 and identified three operating segments: Clinic Services, INVOcell Device and Therapeutics. The three segments align with the Company’s distinct product and service lines. For the year ending December 31, 2025 the Company did not have any sales or operations outside of the United States.

 

The Clinics Services operating segment consists of financial information for WFI and the Atlanta Clinic. The INVOcell Device operating segment consists of financial information relating to the Company’s manufacture and sales of the INVOcell. The Therapeutics segment consists of financial information relating to the Company’s recently acquired subsidiary, NTI. The Company divested 80.1% of NTI during the second quarter of 2025 and as such the Therapeutics segment consists of the results of NTI through June 2, 2025.

 

The tables below provide information about the Company’s segments and include a reconciliation to income before taxes:

 

Fiscal Year Ended December 31, 2025 

Fertility Clinic

Services

  

INVOcell

Device

   Therapeutics   Total 
Revenue from external customers 

$

6,721,057   $120,193   $-   $6,841,250 
Intersegment revenues   -    27,000    -    27,000 
Total revenue   6,721,057    147,193    -    6,868,250 
Reconciliation of revenue                    
Elimination of intersegment revenue                  (27,000)
Total consolidated revenue                  6,841,250 
Less:                    
Cost of revenue   4,359,547    30,571    -    4,390,118 
Sales and marketing   113,417    -    -    113,417 
General and administrative   1,297,157    -    1,414,023    2,711,180 
Research and development   -    -    393,470    393,470 
Impairment loss   1,397,353         14,645,069    16,042,422 
Depreciation and amortization   585,897    9,725    -    595,622 
Segment profit (loss)   (1,032,314)   106,897    (16,452,562)   (17,404,979)
Reconciliation of net loss                    
Other income (loss)                  (1,068,353)
Interest expense                  (910,644)
Loss on disposition             (1,534,517)   (1,534,517)
Unallocated amounts:                    
Other corporate expenses                  (6,369,612)
Loss before taxes                  (27,288,105)
                     
Assets   6,811,259    32,240    -      

 

Fiscal Year Ended December 31, 2024 

Fertility Clinic

Services

  

INVOcell

Device

   Therapeutics   Total 
Revenue from external customers  $6,450,431   $81,569    -   $6,532,000 
Intersegment revenues   -    29,000    -    29,000 
Total revenue   6,450,431    110,569    -    6,561,000 
Reconciliation of revenue                    
Elimination of intersegment revenue                  (29,000)
Total consolidated revenue                  6,532,000 
Less:                    
Cost of revenue   3,705,510    11,735    -    3,717,245 
Sales and marketing   37,459    -    -    37,459 
General and administrative   1,269,465    -    1,130,470    2,399,935 
Research and development   -    -    388,530    388,530 
Depreciation and amortization   849,700    9,725    -    859,425 
Segment profit (loss)   588,297    89,109    (1,519,000)   (870,594)
Reconciliation of net loss                    
Other income (loss)                  63,105 
Interest expense                  (1,035,143)
Unallocated amounts:                    
Other corporate expenses                  (7,254,902)
Loss before taxes                  (9,118,751)
                     
Assets   11,263,408    41,965    34,991,743      

 

No single customer comprised 10% or more of the Company’s consolidated revenues from transactions in 2025 or 2024. In addition, the receivables balance attributable to any single customer did not comprise 10% or more of the Company’s total trade accounts receivable as of December 31, 2025, or December 31, 2024.