Inspire Veterinary Partners Inc
IVP
Inspire Veterinary Partners Inc AI Insights
Informational only. Not investment advice.Snapshot
- Goodwill of 9.1M is 218% of equity (4.2M) - acquisition-heavy strategy with severe impairment risk if clinics underperform[Goodwill]
- Debt/equity of 4.1x with 17.1M debt vs 342K cash - interest expense (1.7M TTM) exceeds gross profit runway[Debt to Equity]
- Burning 4.3M FCF TTM on 15.6M revenue (-28% FCF margin) - requires continuous equity dilution to survive[Free Cash Flow TTM]
Watch Triggers
- Cash and Equivalents: Falls below 200K or new equity filing — At 342K with 1M+ quarterly burn, next raise imminent - timing signals desperation level
- Gross Margin TTM: Rises above 25% — Currently 19% - improvement signals clinic-level profitability progress
- Goodwill: Any impairment charge announced — 9.1M goodwill vs 4.2M equity - impairment would eliminate book value
Bull Case
Vet services consolidation play - 15.6M revenue with 9.1M goodwill suggests multiple clinic acquisitions. Industry fragmentation offers rollup opportunity if execution improves.
Asset turnover of 0.67x exceeds industry median (0.27x) - clinics generating revenue, problem is cost structure not demand.
Bear Case
Tangible book value is NEGATIVE (-6.1M) with 4.1x leverage - technically insolvent without goodwill. Any write-down triggers covenant issues.
Operating margin of -58% vs industry median 0% - losing 58 cents per dollar of revenue. Gross margin 19% insufficient to cover 77% opex ratio.
Bull vs Bear Balance
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Forward Thesis
Without profitability inflection, equity raises will dilute shares 50%+ within 18 months
- Cash of 342K vs quarterly burn rate ~1M
- Already issued 2.2M new equity TTM
- Operating loss of 9M TTM unsustainable
Public Strategies Rankings
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IVP Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$9,185 | — | ||
$16.78M | — | ||
0.00 | — | ||
$15.56M | -8.8% | — | |
$-32.97 | — | ||
-57.6% | -6.1% | — | |
-76.8% | +7.9% | — | |
$-4.34M | — | ||
-3.3 | +171.1% | — | |
Beta 5Y (Monthly) | unknown | — |
IVP Dividend History
IVP Stock Splits
IVP SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
11/12/25 | 09/30/25 | 10-Q | |
08/13/25 | 06/30/25 | 10-Q | |
05/15/25 | 03/31/25 | 10-Q | |
03/31/25 | 12/31/24 | Unknown | |
11/13/24 | 09/30/24 | 10-Q | |
08/14/24 | 06/30/24 | 10-Q | |
05/15/24 | 03/31/24 | 10-Q | |
04/08/24 | 12/31/23 | 10-K | |
11/14/23 | 09/30/23 | 10-Q | |
08/31/23 | 06/30/23 | 424B4 | |
05/23/23 | 03/31/23 | S-1/A | |
08/31/23 | 12/31/22 | 424B4 | |
11/14/23 | 09/30/22 | 10-Q | |
08/31/23 | 06/30/22 | 424B4 | |
05/23/23 | 03/31/22 | S-1/A |