v3.26.1
Segment Reporting
 6 Months Ended
Jun. 30, 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 two operating segments: Clinic Services and INVOcell Device. The two segments align with the Company’s distinct product and service lines. For the six months ended June 30, 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 June 30, 2026    Three Months Ended June 30, 2025  
  Fertility Clinic
Services		   INVOcell
Distribution		    Total    Fertility Clinic
Services		     INVOcell
Distribution		     Total  
                                         
Revenue from external customers  $2,167,785   $7,700    $2,175,485    $ 1,832,094     $ 31,560     $ 1,863,654  
Intersegment revenues   -    2,376     2,376      -       9,000       9,000  
Total segment revenue   2,167,785    10,076     2,177,861      1,832,094       40,560       1,872,654  
                                         
Reconciliation of revenue:                                        
Elimination of intersegment revenue   -    (2,376)    (2,376)     -       (9,000 )     (9,000 )
Total consolidated revenue   2,167,785    7,700     2,175,485      1,832,094       31,560       1,863,654  
                                         
Less:                                        
Cost of revenue   1,357,527    60,147     1,417,675      1,111,129       3,064       1,114,193  
Sales and marketing   19,652    -     19,652      12,263       -       12,263  
General and administrative   457,579    -     457,579      330,774       -       330,774  
Research and development   -    -     -      -       -       -  
Impairment loss   -    -     -      1,397,353       -       1,397,353  
Depreciation and amortization   32,696    2,431     35,127      146,439       2,431       148,870  
Segment profit (loss)  $300,331  $(54,878)   $245,453   $ (1,165,863 )   $ 26,065     $ (1,139,798 )
                                         
Reconciliation to income (loss) from continuing operations before income taxes:                                        
Total segment profit (loss)                   $ 245,453                     $ (1,139,798 )
Other income (loss)              2,411,771                      1,887,479  
Interest expense              (177,227)                     (440,596 )
Unallocated corporate expenses                     (1,535,103 )                     (1,850,290 )
Income (loss) from continuing operations before income taxes                     944,894                       (1,543,205 )
Provision for income taxes                     56,154                       -  
Net income (loss) from continuing operations                     888,740                       (1,543,205 )
Loss on disposition              -                     (1,534,517 )
Loss from discontinued operations             -                     (541,247 )
Net income (loss)                   $ 888,740                     $ (3,618,969 )
                                         
Total assets  $6,238,540   $29,809    $6,268,348    $ 8,679,223     $ 37,102     $ 8,716,325  

 

 

                      
   Six Months Ended June 30, 2026    Six Months Ended June 30, 2025  
  Fertility Clinic
Services		   INVOcell
Distribution		   Total    Fertility Clinic
Services		     INVOcell
Distribution		     Total  
                                        
Revenue from external customers  $4,150,018   $40,692   $4,190,710    $ 3,453,647     $ 47,192     $ 3,500,839  
Intersegment revenues   -    14,376    14,376      -       13,500       13,500  
Total segment revenue   4,150,018    55,068    4,205,086      3,453,647       60,692       3,514,339  
                                        
Reconciliation of revenue:                                       
Elimination of intersegment revenue   -    

(14,376

)   (14,376)     -       (13,500 )     (13,500 )
Total consolidated revenue   4,150,018    

40,692

    4,190,710      3,453,647       47,192       3,500,839  
                                        
Less:                                       
Cost of revenue   2,639,775    65,299    2,705,074      2,171,372       7,048       2,178,420  
Sales and marketing   40,765    -    40,765      25,237       -       25,237  
General and administrative   972,507    -    972,507      637,875       -       637,875  
Research and development     -       -       -       -       -       -  
Impairment loss     -       -       -       1,397,353       -       1,397,353  
Depreciation and amortization   67,516    4,862    72,379      358,895       4,862       363,757  
Segment profit (loss)  $429,455   $(29,469)  $399,986    $ (1,137,084 )   $ 35,282     $ (1,101,802 )
                                        
Reconciliation to income (loss) from continuing operations before income taxes:                                       
Total segment profit (loss)                   $ 399,986                     $ (1,101,802 )
Other income (loss)             (1,356,286)                     1,902,575  
Interest expense             (357,550)                     (440,596 )
Unallocated corporate expenses             (3,280,607)                     (3,087,814 )
Income (loss) from continuing operations before income taxes            (4,594,457)                     (2,727,637 )
Provision for income taxes                     56,154                       -  
Net income (loss) from continuing operations                     (4,650,611 )                     (2,727,637 )
Loss on disposition                     -                       (1,534,517 )
Loss from discontinued operations                     -                       (16,760,401 )
Net income (loss)                   $ (4,650,611 )                   $ (21,022,555 )
                                                 
Total assets  $6,238,540   $29,809   $6,268,348    $ 8,679,223     $ 37,102     $ 8,716,325  

 

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 June 30, 2026, or June 30, 2025.