Shares of INVO Fertility (IVF) rose about 145% on Monday after the company reported its second-quarter fiscal 2026 results, which included a sharp earnings beat.

Prior to the rally, the stock closed at $0.97. INVO Fertility had already fallen 74% year to date and 98% over the past 12 months, so the move came from a deeply depressed share price.

For the quarter, INVO Fertility reported diluted earnings per share of $0.35, topping analyst expectations of -$0.70 by $1.05. That marked a significant improvement from the prior-year period, when adjusted EPS was -$364.23.

Revenue came in at between $2.17 million and $2.18 million. That was slightly below the $2.4 million consensus estimate, but still represented a 17% increase from $1.86 million in the same quarter a year earlier.

Trading volume also spiked sharply. More than 55 million IVF shares changed hands on Monday, compared with a three-month average daily volume of about 51,000 shares. That put the session’s trading activity at more than 1,000 times the typical level.

Chief Executive Officer Steve Shum pointed to several factors behind the quarterly performance. The biggest contributor was the full-quarter inclusion of Family Beginnings, a fertility clinic business in Indiana. INVO also completed the acquisition of the remaining ownership interest in its Birmingham, Alabama fertility clinic during the period, a reminder that the company’s results are being shaped not only by demand at its clinics but also by the pace at which those acquisitions are folded into operations.

The company said its clinic operations platform generated about $333,000 in Adjusted EBITDA before corporate overhead and public company costs during the second quarter. For all of fiscal 2025, that figure was $0.95 million.

INVO also highlighted research activity, saying five poster abstracts were presented at the 2026 Midwest Reproductive Symposium International.

Management said it continues to pursue acquisitions of additional cash-flow positive fertility clinics to broaden its operational footprint.

INVO Fertility does not have broad traditional Wall Street analyst coverage. TipRanks’ AI-powered analyst Spark, which uses the OpenAI 5.2 model, rates IVF shares Neutral with a $0.94 price target. Spark cited weak financial performance, including large losses and ongoing cash burn, as the main reasons for that view.

InvestingPro assigns INVO Fertility a Financial Health rating of “fair performance.” The company saw both upward and downward EPS estimate revisions during the 90 days before the earnings announcement.

Even after Monday’s rally, IVF shares remain down 38% over the past three months and 98% over the trailing year. The second-quarter result was the company’s first positive EPS reading in recent memory and a major reversal from the -$364.23 adjusted EPS reported in Q2 2025.