Revenue contracted by 16.2% year-over-year in 2024Q4, while the company struggled with a severe lack of operating leverage, evidenced by an operating margin of -85.5%.
| Sales/Revenue | 2.79M | 4.73M | 5.43M | 5.14M | 5.94M | 4.12M |
| Revenue Growth % | - | -13.01% | 5.78% | -13.59% | 44.34% | - |
| Cost of Goods Sold | 2.06M | 3.77M | 3.61M | 3.45M | 4.41M | 3.09M |
| COGS % of Revenue | - | 79.78% | 66.37% | 67.26% | 74.13% | 75.11% |
| Gross Profit | 735.96K | 955.85K | 1.83M | 1.68M | 1.54M | 1.02M |
| Gross Margin % | 26.35% | 20.22% | 33.63% | 32.74% | 25.87% | 24.89% |
| Gross Profit Growth % | - | -47.68% | 8.63% | 9.35% | 50.05% | - |
| Operating Expenses | 3.39M | 11.68M | 2.99M | 1.64M | 1.14M | 826.02K |
| OpEx % of Revenue | - | 247.17% | 54.99% | 31.93% | 19.16% | 20.06% |
| Selling, General & Admin | 3.39M | 11.68M | 2.99M | 1.64M | 1.14M | 826.02K |
| SG&A % of Revenue | - | 247.17% | 54.99% | 31.93% | 19.16% | 20.06% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 64 | 0 |
| Operating Income | -2.85M | -10.73M | -1.16M | 42.24K | -504.91K | 198.76K |
| Operating Margin % | -101.98% | -226.95% | -21.35% | 0.82% | -8.49% | 4.83% |
| Operating Income Growth % | - | -824.69% | -2846.08% | 108.37% | -354.03% | - |
| EBITDA | -1.41M | -10.23M | -953.74K | 271.95K | -200.96K | 541.3K |
| EBITDA Margin % | -50.37% | -216.38% | -17.55% | 5.29% | -3.38% | 13.14% |
| EBITDA Growth % | - | -972.31% | -450.7% | 235.32% | -137.13% | - |
| D&A (Non-Cash Add-back) | 346.85K | 499.5K | 206.26K | 229.71K | 303.94K | 342.54K |
| EBIT | 764.7K | 10.35M | -182K | 154.6K | 421.75K | 244.47K |
| Net Interest Income | 652.6K | -614.17K | -772K | -45.66K | -77.74K | -88.23K |
| Interest Income | 1.1M | 2.25K | 6.95K | 518 | 21 | 63 |
| Interest Expense | 446.36K | 616.42K | 778.66K | 46.18K | 77.76K | 88.29K |
| Other Income/Expense | 1.95M | 20.46M | 199.69K | 66.18K | 1.01M | -42.57K |
| Pretax Income | -896.62K | 9.73M | -961K | 108.42K | 500.65K | 156.18K |
| Pretax Margin % | -32.1% | 205.84% | -17.69% | 2.11% | 8.42% | 3.79% |
| Income Tax | -487K | 0 | -487K | 0 | 208.14K | 294.72K |
| Effective Tax Rate % | 54.32% | 0% | 50.68% | 0% | 41.57% | 188.7% |
| Net Income | -461.62K | 9.88M | -525K | 130.19K | 458.67K | -533 |
| Net Margin % | -16.53% | 209.02% | -9.66% | 2.53% | 7.72% | -0.01% |
| Net Income Growth % | - | 1981.79% | -503.25% | -71.61% | 86153.85% | - |
| Net Income (Continuing) | -409.6K | 9.73M | -474K | 108.42K | 135.85K | -138.53K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | -433.14K | -644.83K | -433.14K | -490.05K | -462.43K | -138.97K |
| EPS (Diluted) | -0.78 | 16.80 | -22.31 | 12.44 | 62.52 | -0.00 |
| EPS Growth % | - | 175.32% | -279.38% | -80.11% | - | - |
| EPS (Basic) | - | 16.80 | -22.31 | 12.44 | 62.52 | -0.00 |
| Diluted Shares Outstanding | 588.24K | 588.24K | 588.24K | 262.19K | 262.19K | 262.19K |
| Basic Shares Outstanding | 588.24K | 588.24K | 588.24K | 262.19K | 262.19K | 262.19K |
| Dividend Payout Ratio | - | - | - | - | - | - |
Existential regulatory dependency
According to the most recent quarterly filings, NewGenIvf experienced a 16.2% year-over-year revenue decline, signaling a persistent struggle to maintain patient throughput within its specialized reproductive tourism model across its primary operating jurisdictions in Southeast Asia and beyond.
The consistent downward pressure on top-line performance suggests that the company's reliance on cross-border medical tourism is failing to capture sufficient demand. Investors should monitor whether this trend reflects broader regional economic cooling or a specific loss of competitive positioning against larger, more established fertility service providers.
As reported in financial statements, the company's gross margin volatility, fluctuating from 13.0% in 2023Q4 to 42.3% in 2024Q4, highlights an unstable cost structure that appears highly sensitive to the specific mix of clinical procedures and third-party service coordination costs.
The inability to maintain consistent gross margins suggests that the company lacks significant pricing power in its niche markets. This variability complicates forecasting and implies that the underlying clinical model may be struggling to absorb the high direct costs associated with specialized medical labor and laboratory maintenance.
Based on the reported figures, NewGenIvf's operating margin of -85.5% in the most recent quarter demonstrates a severe lack of operating leverage, as administrative expenses continue to dwarf the gross profit generated by its clinical service offerings.
The company appears to be burdened by a fixed-cost structure that is disproportionate to its current revenue scale. Without a substantial increase in patient volume, the current administrative overhead may continue to erode shareholder value, suggesting that the existing business model is not yet optimized for profitability.
Financial disclosures reveal a significant divergence between operating losses and net income, suggesting that non-operating items, likely related to warrant liabilities or accounting adjustments, are creating a misleading picture of the company's true underlying financial health.
Analysts should exercise caution when interpreting net income figures, as they appear to be heavily influenced by non-cash, non-recurring accounting artifacts. Stripping these items away reveals a business that is consistently burning cash, which warrants further investigation into the sustainability of its current capital structure.
Data from recent filings indicates that the company's reliance on regulatory arbitrage in frontier markets creates a fragile moat, where any sudden shift in local surrogacy laws could effectively terminate the primary revenue streams that support its high-cost clinical infrastructure.
Short-sellers would likely focus on the company's limited cash runway and the inherent instability of its multi-jurisdictional regulatory strategy. The combination of shrinking revenue and negative operating margins suggests that the company may face significant liquidity challenges if it cannot rapidly pivot to a more sustainable operational footing.
Quick answers to the most common questions about buying NIVFW stock.
For fiscal year 2025, NewGenIvf Group Limited (NIVFW) reported total revenue of $4.7M. This represents a 14.8% increase compared to $4.1M in 2021.
NewGenIvf Group Limited (NIVFW) is profitable, generating $9.9M in net income for the fiscal year ending 2025 with a net profit margin of 209.0%.
NewGenIvf Group Limited (NIVFW) reported an operating income of $-10.7M, resulting in an operating profit margin of -226.9%. This margin reflects the operational efficiency of the business before interest and taxes.
NewGenIvf Group Limited (NIVFW) generated $1.0M in gross profit for the year, representing a gross profit margin of 20.2%. This demonstrates the company's core pricing power and production efficiency.