Inspire Veterinary Partners Reports 2024 Financial Performance

Inspire Veterinary Partners, Inc., a U.S.-based pet health care services provider, announced financial results for 2024. Total revenue remained flat at $16.6 million despite a 3% increase in services revenue to $12.2 million, fueled by a 2023 acquisition. Product revenue fell by 8% to $4.4 million, mainly due to decreased customer purchases per visit and the sale of the KVC practice.

Operating expenses rose by 7%, driven by the Valley Veterinary practice acquisition and consulting contracts. Nonetheless, net loss declined by 4% to $14 million, aided by the KVC sale gain. As of December 31, 2024, cash and cash equivalents stood at $0.5 million, with a subsequent direct offering raising $2.0 million for strategic purposes.

Inspire aims to evolve with new leadership and acquisitions, including a potential Florida animal hospital purchase. The company focuses on enhancing talent recruitment, integrating systems, and investing in scalable growth.