v3.26.1
Segment Reporting
 3 Months Ended
Mar. 31, 2026
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 three months ended March 31, 2026 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, the Atlanta Clinic, and the Indiana Clinic. The INVOcell Device operating segment consists of financial information relating to the Company’s manufacture and sales of the INVOcell. The Therapeutics segment was divested in May 2025.

 

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

Three Months Ended March 31, 2026  Fertility Clinic Services   INVOcell Device   Total 
Revenue from external customers  $1,983,540   $32,992   $2,016,532 
Intersegment revenues   -    12,000    12,000 
 Total revenue    1,983,540    44,992    2,028,532 
Reconciliation of revenue               
Elimination of intersegment revenue             (12,000)
Total consolidated revenue             2,016,532 
Less:               
Cost of revenue   1,282,247    5,152    1,287,399 
Sales and marketing   21,112    -    21,112 
General and administrative   514,929    -    514,929 
Depreciation and amortization   34,821    2,431    37,252 
Segment profit  $130,431   $37,409    155,840 
Reconciliation of net loss               
Other income (loss)             22,168 
Interest expense             (180,323)
Unallocated amounts:               
Other corporate expenses             (1,745,504)
Loss before taxes            $(1,747,819)
                
Assets  $ 6,238,540   $29,809      

 

 

Three Months Ended March 31, 2025  Fertility Clinic Services   INVOcell Device   Therapeutics   Total 
Revenue from external customers  $1,621,553   $15,632   $-   $1,637,185 
Intersegment revenues   -    4,500    -    4,500 
 Total revenue    1,621,553    20,132    -    1,641,685 
Reconciliation of revenue                    
Elimination of intersegment revenue                  (4,500)
Total consolidated revenue                  1,637,185 
Less:                    
Cost of revenue   1,060,243    3,984    -    1,064,227 
Sales and marketing   12,974    -    -    12,974 
General and administrative   307,101    -    1,000,583    1,307,684 
Research and development   -    -    265,663    265,663 
Impairment loss   -    -    14,645,069    14,645,069 
Depreciation and amortization   212,456    2,431    -    214,887 
Segment profit (loss)  $28,778   $13,717   $(15,911,315)   (15,873,319)
Reconciliation of net loss                    
Other income (loss)                  15,096 
Interest expense                  (307,839)
Unallocated amounts:                    
Other corporate expenses                  (1,237,524)
Loss before taxes                 $(17,403,586)
                     
Assets  $10,654,643   $39,534   $16,942,932      

 

No single customer comprised 10% or more of the Company’s consolidated revenues from transactions in 2026 or 2025. 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 March 31, 2026, or March 31, 2025.