Invo Fertility, Inc. · NASDAQ:IVF
Invo Fertility — Investor Presentation (August 2026)
30 slides from Invo Fertility's investor presentation, August 2026
Slide 1: Corporate Presentation August 2026
LIFE BEGINS WITHIN AUGUST 2026 CORPORATE PRESENTATION N AS D A Q : I V F
Slide 2: Important Disclosures: Forward-Looking Statements
NASDAQ: IVF IMPORTANT DISCLOSURES FORWARD-LOOKING STATEMENTS This presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements made in this presentation
Slide 3: What INVO Fertility Does
NASDAQ: IVF OUR MISSION WHAT INVO FERTILITY DOES We are a healthcare fertility company focused on making advanced fertility care effective, accessible, and empowering for all, through a patient-centered approach that is powered by innovation, compassion and an exceptional team. OWN AND OPERATE FERTI
Slide 4: INVO Fertility at a Glance
NASDAQ: IVF INVO FERTILITY AT A GLANCE A FERTILITY SERVICES PLATFORM AT AN INFLECTION POINT 4 $7.5M $829K FERTILITY CLINICS TTM REVENUE TTM CLINIC-LEVEL ADJ. EBITDA¹ Wisconsin · Georgia TTM ended June 30, 2026 $333k in Q2 2026 Alabama · Indiana $3.7M $16.5M 2040 CASH AT JUNE 30, 2026 STOCKHOLDERS’ E
Slide 5: From Device Maker to Fertility Platform
NASDAQ: IVF COMPANY EVOLUTION FROM DEVICE MAKER TO FERTILITY PLATFORM 2007–2022 2023–2025 2 0 2 6 AN D F O R W AR D DEVICE COMPANY CLINIC OWNER-OPERATOR SCALED FERTILITY PLATFORM • Developed and commercialized INVOcell, the first • Acquired Wisconsin Fertility Institute; built out • Acquired Family
Slide 6: Why Now: An Inflection Point
NASDAQ: IVF WHY NOW AN INFLECTION POINT STRUCTURAL OPERATIONAL Clean capital structure The clinic platform is profitable All Series C-2 preferred converted or retired and warrant liabilities eliminated; $7.1M of net Clinic-Level Adjusted EBITDA of $333K in Q2 2026, up from $164K in Q1 2026, and $951
Slide 7: The Opportunity
NASDAQ: IVF MARKET AND CONSOLIDATION THE OPPORTUNITY
Slide 8: U.S. IVF: Scale, Growth and Structural Demand
NASDAQ: IVF FERTILITY MARKET U.S. IVF: SCALE, GROWTH AND STRUCTURAL DEMAND $5.9B 457 1 in 6 U.S. IVF MARKET SIZE REPORTING ART CLINICS PEOPLE AFFECTED 2025 market size, growing at an estimated 4.5% CAGR 435,426 ART cycles performed in 2022, roughly 8–10% CAGR Share of people globally who experience
Slide 9: A Fragmented Market Despite Active Consolidation
NASDAQ: IVF THE CONSOLIDATION OPPORTUNITY A FRAGMENTED MARKET DESPITE ACTIVE CONSOLIDATION U.S. ART Clinics by Ownership Type 197 independent practices remain unconsolidated Of the 457 reporting U.S. ART clinics, the largest single ownership category is still the physician-owned practice outside any
Slide 10: Why Independent Clinics Choose INVO Fertility
NASDAQ: IVF ADVANTAGES WHY INDEPENDENT CLINICS CHOOSE INVO FERTILITY An owner-operator, not a financial sponsor INVO runs fertility clinics itself. Sellers partner with a team that understands clinic and lab operations and cycle economics — not a sponsor learning the business on their practice. Real
Slide 11: Our Platform
NASDAQ: IVF CLINICS, MODEL AND STRATEGY OUR PLATFORM
Slide 12: Four Operating Clinics Across Four States
NASDAQ: IVF FERTILITY CENTERS FOUR OPERATING CLINICS ACROSS FOUR STATES LOCATION Middleton, WI Atlanta, GA Birmingham, AL Indianapolis, IN PROCEDURES IVF; IVC planned IVC; IVF planned IVF and IVC IVF and IVC ANNUAL CYCLES ~500 ~150 ~150 ~200 OWNERSHIP 100% 40% joint venture 100%¹ 100%² ANNUAL CYCLES
Slide 13: Local Clinical Excellence, Centralized Support
NASDAQ: IVF THE OPERATING MODEL LOCAL CLINICAL EXCELLENCE, CENTRALIZED SUPPORT Fertility care is local and deeply personal. We do not impose a single model on every practice — we preserve the reputation, physicians and patient relationships that made each clinic successful, and add the infrastructur
Slide 14: Four Pillars to Scale and Profitability
NASDAQ: IVF GROWTH STRATEGY FOUR PILLARS TO SCALE AND PROFITABILITY 01 02 03 04 GROW THE CLINICS WE OWN OWNERSHIP AND CONTROL APPLY TECHNOLOGY TO ACQUIRE ESTABLISHED, EXPAND ACCESS PROFITABLE CLINICS • Increase patient volumes at each • Convert joint ventures to wholly owned • INVOcell-enabled IVC i
Slide 15: INVOcell and the Case for Expanding Access
NASDAQ: IVF TECHNOLOGY INVOCELL AND THE CASE FOR EXPANDING ACCESS CLINICAL PREGNANCY RATES For clinical pregnancy rates, INVOcell outcomes are comparable to IVF and more effective than IUI. IUI INVOcell (IVC) IVF 8–10% ~57.1% ~51.8% Intrauterine insemination¹ Advanced treatment² Advanced treatment²
Slide 16: Financials
NASDAQ: IVF RESULTS AND FINANCIAL POSITION FINANCIALS
Slide 17: Revenue Growth and Clinic Profitability
NASDAQ: IVF SECOND QUARTER 2026 REVENUE GROWTH AND CLINIC PROFITABILITY $2.2M +18% $333K $(1.0)M TOTAL REVENUE CLINIC REVENUE GROWTH CLINIC-LEVEL ADJ. EBITDA¹ ADJUSTED EBITDA² Up 17% from $1.9M in Q2 2025 $2.17M compared with $1.83M Up from $164K in Q1 2026; Company-wide, after all $829K over the TT
Slide 18: Revenue Scale and Clinic Earnings Power
NASDAQ: IVF FINANCIAL TRAJECTORY REVENUE SCALE AND CLINIC EARNINGS POWER CONSOLIDATED REVENUE ($ M ILLIONS) CLINIC-LEVEL ADJUSTED EBITDA ($ THOUSANDS)¹ $2.5 POST NAY A $450 POST NAY A $2.18 $378 $2.02 $2.0 $1.86 $333 $1.76 $1.64 $1.58 $300 $1.5 $241 $243 $1.0 $164 $150 $89 $0.5 $0.0 $0 Q1 2025 Q2 20
Slide 19: The Path to Consolidated Profitability
NASDAQ: IVF THE INVESTMENT THESIS THE PATH TO CONSOLIDATED PROFITABILITY The clinic platform already earns money. The gap between a profitable clinic platform and a profitable company is a largely fixed corporate and public company cost base. Four levers close it. 01 02 03 04 GROW CLINIC EARNINGS AD
Slide 20: Balance Sheet and Capitalization
NASDAQ: IVF FINANCIAL POSITION BALANCE SHEET AND CAPITALIZATION BALANCE SHEET HIGHLIGHTS CAPITALIZATION ($ USD) 6/30/2026 Amount Cash 3,732,945 Common shares outstanding (8/21/26) 4,771,364 Total current assets 4,602,765 Warrants outstanding (6/30/26) 2,051,770 Goodwill 9,251,563 Weighted average wa
Slide 21: Leadership Team
NASDAQ: IVF LEADERSHIP TEAM EXPERIENCED AND DEDICATED CORPORATE DOCTORS AND LAB DIRECTORS Steve Shum Terah Krigsvold Andrea Goren Sue Ellen Carpenter James Donahue Gretchen Collins Chief Executive Officer Chief Financial Officer M&A / Legal Bo Mitrovic April McGhee Strategy / Business Dev. Operation
Slide 22: Board of Directors
NASDAQ: IVF BOARD OF DIRECTORS INDEPENDENT AND ENGAGED Steve Shum Trent Davis Rebecca Messina Barbara Ryan Matthew Szot CEO, Director Independent Director Independent Director Independent Director Independent Director SELECTED PRIOR AFFILIATIONS Company names and marks shown above are the property o
Slide 23: Why Invest in INVO Fertility? Key Takeaways
NASDAQ: IVF WHY INVEST IN INVO FERTILITY? KEY TAKEAWAYS FAVORABLE MARKET BACKDROP A PROFITABLE CLINIC PLATFORM GROWTH ON TWO ENGINES • U.S. IVF market estimated at $5.9B in 2025 • Four operating fertility clinics across four states • Q2 revenue up 17%; H1 revenue up 20% • Estimated 4.5% CAGR through
Slide 24: Thank You
NASDAQ: IVF THANK YOU For more information, please contact: Steve Shum, Chief Executive Officer 978-878-9505 x506 sshum@invofertility.com invofertility.com
Slide 25: Quarterly Statement of Operations
NASDAQ: IVF APPENDIX QUARTERLY STATEMENT OF OPERATIONS ($ in thousands; unaudited) ($ in thousands) Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 TTM Q2 2026 Clinic revenue 1,622 1,832 1,722 1,545 1,982 2,168 7,417 Product revenue 16 32 35 38 33 8 114 Total revenue 1,637 1,864 1,757 1,583 2,015 2,
Slide 26: Quarterly Balance Sheet Summary
NASDAQ: IVF APPENDIX QUARTERLY BALANCE SHEET SUMMARY ($ in thousands; unaudited) ($ in thousands) 12/31/2025 3/31/2026 6/30/2026 Warrant liabilities eliminated ASSETS $1.9M at year-end 2025 to zero by March 31, 2026 as all liability-classified Cash 2,078 4,904 3,733 warrants were either exercised or
Slide 27: Adjusted EBITDA Reconciliation
NASDAQ: IVF APPENDIX ADJUSTED EBITDA RECONCILIATION ($ USD; unaudited) ($ USD) Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 TTM Q2 2026 Net income (loss) from continuing operations (1,492,271) (1,543,205) (3,395,598) 1,095,099 (5,539,351) 888,740 (6,951,110) Interest expense and amortization of d
Slide 28: Clinic-Level Adjusted EBITDA Reconciliation
NASDAQ: IVF APPENDIX CLINIC-LEVEL ADJUSTED EBITDA RECONCILIATION ($ USD; unaudited) ($ USD) Q1 20251 Q2 20252 Q3 20253 Q4 20254 Q1 20261 Q2 20262 TTM Q2 2026 Fertility Clinic Services revenue 1,621,553 1,832,094 1,722,223 1,545,187 1,982,233 2,167,785 7,417,428 Operating expenses 1,592,774 2,997,958
Slide 29: From Shares Outstanding to Fully Diluted
NASDAQ: IVF C A P I TA L I Z AT I O N FROM SHARES OUTSTANDING TO FULLY DILUTED As of June 30, 2026 Exercise / Conversion Price Shares Warrants Warrants represent 83% of potential dilution. The largest tranche is 1,893,492 Shares outstanding 2,295,035 warrants at $7.95 issued in the January 2026 indu
Slide 30: Sources and Methodology
NASDAQ: IVF APPENDIX SOURCES AND METHODOLOGY Third-party data referenced in this presentation. Slide Data point Source Link MARKET SIZE AND DEMAND 8 U.S. IVF market of $5.9B in 2025 growing at a 4.5% CAGR through 2033 Grand View Research, U.S. In Vitro Fertilization Market Outlook View source 8 435,