Inspire Veterinary Partners Reports Revenue Decline and Acquisition of DeBary Animal Clinic

Inspire Veterinary Partners, Inc. reported a total revenue of $4.28 million for the three months ended June 30, 2025, a decrease of 2.4% from $4.39 million in the same period last year. For the six months ended June 30, 2025, total revenue was $7.92 million, down 14% from $9.22 million in the prior year. The decline in revenue was primarily attributed to a decrease in both service and product revenues, which fell by 12% and 19%, respectively. The company recorded a net loss of $3.03 million for the second quarter, compared to a loss of $3.39 million in the same quarter of 2024, and a net loss of $5.45 million for the first half of 2025, down from $6.81 million in the prior year.

In terms of operational changes, Inspire Veterinary Partners completed the acquisition of DeBary Animal Clinic in June 2025 for approximately $1.94 million, which included $1.85 million in cash and $92,500 in restricted shares. This acquisition is part of the company's strategy to expand its footprint in the veterinary services market, which now includes 14 clinics across nine states. The company also reported a significant increase in its employee headcount, with the number of shares outstanding rising from 4.82 million to 6.03 million year-over-year, reflecting the issuance of new shares related to acquisitions and financing activities.

The company’s financial position showed a total asset increase to $20.81 million as of June 30, 2025, compared to $20.20 million at the end of 2024. However, total liabilities also rose to $20.36 million from $18.63 million, leading to a decrease in stockholders' equity from $1.56 million to $446,262. The increase in liabilities was driven by higher accounts payable and accrued expenses, which rose significantly during the period. The company’s accumulated deficit reached $41.80 million, raising concerns about its ability to continue as a going concern without additional financing.

Inspire Veterinary Partners is actively seeking to raise additional capital through various means, including debt and equity financing, to support its growth strategy and operational needs. The company has indicated that it will continue to pursue acquisitions of veterinary practices to enhance its market presence and service offerings. However, the ongoing challenges in the veterinary labor market and the need for effective integration of acquired practices remain critical factors that could impact future performance. The management remains optimistic about the potential for growth, contingent on successful financing and operational execution.