INVO Fertility, Inc
IVF Healthcare Medical Devices
INVO Fertility, Inc’s revenue for fiscal 2025 (year ended December 2025) was $6.8 million, up 4.74% from fiscal 2024. In the quarter to June 2026, revenue grew 16.7%, EPS grew 100.1%, free cash flow grew 35.1% and total debt fell 50.7%, each against the same quarter a year earlier. Revenue growth for three consecutive years.
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INVO Fertility, Inc (IVF) Altman Z-score
INVO Fertility, Inc's Altman Z-score for fiscal 2025 is −7.60, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −7.60 | (4.85) |
| FY2024 | −2.75 | 3.04 |
| FY2023 | −5.79 | 22.48 |
| FY2022 | −28.27 | (29.70) |
| FY2021 | 1.42 | 4.21 |
| FY2020 | −2.79 | 13.92 |
| FY2019 | −16.71 | (9,771,530.98) |
| FY2018 | 9771514.27 | 7,469,304.97 |
| FY2017 | 2302209.30 | (3,189,837.27) |
| FY2016 | 5492046.57 | (5,982,648.07) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.37) | — | −0.45 | |
| Retained earnings / total assets | (4.52) | — | −6.33 | |
| EBIT / total assets | (0.36) | — | −1.18 | |
| Market value of equity / total liabilities | 0.03 | — | 0.02 | |
| Sales / total assets | 0.34 | — | 0.34 | |
| Altman Z-score | Distress zone | −7.60 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −19.01 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| BJDX Bluejay Diagnostics, Inc. compare | −0.9× |
| ADGM Adagio Medical Holdings, Inc. compare | −7.0× |
| IVF INVO Fertility, Inc | −7.6× |
| ICCM IceCure Medical Ltd. compare | −10.0× |
| BIOLQ Biolase, Inc. compare | −12.7× |
| XAIR Beyond Air, Inc. compare | −14.4× |
| NXL Nexalin Technology, Inc. compare | −26.9× |
| VJET Flyte Aviation, Inc. compare | −30.6× |
| NUVOQ Holdco Nuvo Group D.G Ltd. compare | −81.9× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets