NewGenIvf Group Limited
NIVF evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for NIVF—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · NIVF
NewGenIvf Group Limited (NIVF) is a fertility services provider that reported $23.7M in total revenue and $9.9M net income for fiscal 2025, but holds only $0.8M in cash and has negative shareholders' equity of -$1.0M, raising going-concern risks [sec · filed 2026-03-31].
Key risk: Going concern uncertainty
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Financial data as of Dec 31, 2025.
NewGenIvf Group Limited (NIVF) is a fertility services provider that reported $23.7M in total revenue and $9.9M net income for fiscal 2025, but holds only $0.8M in cash and has negative shareholders' equity of -$1.0M, raising going-concern risks [sec · filed 2026-03-31].
- Cash and equivalents of $0.8M as of 2025-12-31 [sec].
- Total revenue of $23.7M and net income of $9.9M for fiscal 2025 [sec].
- Shareholders' equity of -$1.0M and total debt of $0.3M as of 2025-12-31 [sec].
- Convertible promissory notes of $5,266,000 remained outstanding as of March 30, 2026 [sec · filed 2026-03-31].
- The company has access to an equity line of credit facility of up to $100M from White Lion Capital, with approximately $7.1M drawn to date [sec · filed 2025-04-22].
What works
- NewGenIvf generated positive net income of $9.9M in fiscal 2025, indicating current profitability [sec].
- The company has access to a $100M equity line of credit from White Lion Capital, providing potential liquidity support [sec · filed 2025-04-22].
- NewGenIvf states it is able to generate sufficient cash flow from operations and financing activities to operate and grow its business [sec · filed 2026-03-31].
What to weigh
- Cash and equivalents of only $0.8M as of 2025-12-31, with negative shareholders' equity of -$1.0M, raising going-concern risks [sec].
- Convertible promissory notes of $5,266,000 remain outstanding as of March 30, 2026, adding financial overhang [sec · filed 2026-03-31].
- The company warns that historical revenue growth should not be considered indicative of future performance, and revenue could slow or decline [sec · filed 2026-03-31].
- NewGenIvf operates in a changing medical and regulatory landscape and may fail to adapt or capitalize on market opportunities [sec · filed 2026-03-31].
From the filings
Quoted directly from source documents.
Cash position as of December 31, 2025
“As of December 31, 2025, the Company's cash and cash equivalents stood at approximately US$758,621.”
SEC filings · March 31, 2026
Outstanding convertible promissory notes as of March 30, 2026
“As of March 30, 2026, convertible promissory notes of $5,266,000 remain outstanding.”
SEC filings · March 31, 2026
Going concern risk
“We may not be able to continue operating as a going concern.”
SEC filings · March 31, 2026
Equity line of credit facility
“the Company has access to an equity line of credit facility of up to US$100,000,000 from White Lion Capital, of which approximately US$7.1 million has been drawn and become equity to date.”
SEC filings · April 22, 2025
Risks & what to watch (4)›
Key risks
- Going concern uncertainty — Cash of only $0.8M and negative equity of -$1.0M as of 2025-12-31 raise substantial doubt about ability to continue as a going concern [sec].
- Convertible note overhang — $5.27M in convertible promissory notes outstanding as of March 30, 2026, which could dilute equity [sec · filed 2026-03-31].
- Revenue growth sustainability — Historical revenue growth may not be indicative of future performance; revenue could slow or decline [sec · filed 2026-03-31].
- Regulatory and market changes — Changing medical landscape and regulations could make solutions less competitive [sec · filed 2026-03-31].
What to watch
- Ability to raise additional capital or secure financing to address liquidity shortfalls [sec · filed 2026-03-31].
- Conversion or settlement of the $5.27M in outstanding convertible promissory notes [sec · filed 2026-03-31].
- Trend in revenue growth and profitability in upcoming quarters [sec · filed 2026-03-31].
- Utilization of the $100M equity line of credit from White Lion Capital [sec · filed 2025-04-22].
Sources: SEC filings · Generated August 25, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
No clinical pipeline tracked — this score reflects financial & catalyst signals only.
0.8 months
D/E 0.25 · 6964% dilution
No tracked pipeline phase
No tracked pipeline candidates
No upcoming catalysts tracked
4 buys · 2 sells (180d)
Runway
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
1
Total value held
$2
| Holder | Shares | Value |
|---|---|---|
| morgan stanley | 1 | $2 |
Short Interest
as of Apr 21, 2026- % of float
- 8.3%
- Days to cover
- 0.3
- Shares short
- 46,988
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
NIVF short interestFrequently asked questions
What is the AI investment thesis for NewGenIvf Group Limited?
NewGenIvf Group Limited (NIVF) is a fertility services provider that reported $23.7M in total revenue and $9.9M net income for fiscal 2025, but holds only $0.8M in cash and has negative shareholders' equity of -$1.0M, raising going-concern risks [sec · filed 2026-03-31].
Who is the CEO of NewGenIvf Group Limited?
Mr. Wing Fung Siu is the chief executive officer of NewGenIvf Group Limited (NIVF).
Where is NewGenIvf Group Limited headquartered?
NewGenIvf Group Limited (NIVF) is headquartered in Bangkok, Thailand.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.