NAYA Biosciences, Inc.

Revenue for the quarter was approximately $316,000, up from approximately $146,000 in the prior-year period. Revenue from all three clinics totaled $712,000 in the quarter versus $291,000 a year ago. Adjusted EBITDA loss improved to approximately $1.6 million from approximately $2.2 million last year. Operating expenses decreased to approximately $2.4 million from approximately $2.8 million in the prior-year period. On June 30, 2023, cash was approximately $112,000 and debt was $1.3 million; the company also said it repaid approximately $140,000 of convertible debt and raised approximately $4.5 million in gross proceeds in a public offering. Forward-looking commentary called for 2023 clinic revenue to continue building through the year, primarily from Wisconsin and to a lesser degree Tampa. Management said it expects Tampa to be ready in the next 60 to 90 days and continues to target adjusted EBITDA profitability in 2024.

Steve Shum framed the quarter as a turning point, saying the Wisconsin acquisition meaningfully expands scale and accelerates the transition from a device company to a fertility services provider. He repeatedly stressed that the business can capture more revenue and profit per treatment through clinic ownership, citing roughly $4,500 to $7,000 of revenue per IVC cycle versus about $400 per device sold. His tone was optimistic and strategic, emphasizing that the company is now building an integrated clinic model, with Tampa next and additional acquisitions still under review.

Andrea Goren focused on the financial bridge to better margins and lower losses. She said Q2 revenue was approximately $316,000, operating expenses were approximately $2.4 million, and adjusted EBITDA loss narrowed to approximately $1.6 million from approximately $2.2 million. She also noted that operating expenses were reduced partly due to lower personnel, marketing, stock-based compensation and R&D, and that the company had approximately $112,000 in cash and $1.3 million in debt at quarter-end before later repaying about $140,000 of convertible debt and raising about $4.5 million gross in equity financing. Management said it had also reduced corporate costs by about 30% and expects to keep those levels into next year.

Analysts focused on the 510(k) clearance for 5-day incubation and how it changes both marketing and clinic growth. Management said the old 3-day label put INVOcell at a disadvantage because competitors could point to more favorable conventional IVF outcomes, while the new label allows the company and its physicians to market the technology more openly with validated 5-day data. On breakeven timing, management said the 2024 target assumes incremental growth from Wisconsin, the Tampa launch, and existing clinic momentum, plus cost reductions already implemented; additional acquisitions are not required to hit the plan but could accelerate it.