Immucell Financials
This page shows Immucell (ICCC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Immucell generated $26.5M in revenue in fiscal year 2025. This represents an increase of 51.6% from the prior year.
Immucell's EBITDA was $1.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 136.2% from the prior year.
Immucell generated -$108K in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 98.4% from the prior year.
Immucell reported -$2.2M in net income in fiscal year 2025. This represents an increase of 62.7% from the prior year.
Immucell earned $-0.26 per diluted share (EPS) in fiscal year 2025. This represents an increase of 65.3% from the prior year.
Immucell held $3.8M in cash against $9.0M in long-term debt as of fiscal year 2025.
Immucell had 9M shares outstanding in fiscal year 2025. This represents an increase of 15.8% from the prior year.
Immucell's gross margin was 30.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 7.8 percentage points from the prior year.
Immucell's operating margin was -6.2% in fiscal year 2025, reflecting core business profitability. This is up 26.7 percentage points from the prior year.
Immucell's net profit margin was -8.1% in fiscal year 2025, showing the share of revenue converted to profit. This is up 24.9 percentage points from the prior year.
Immucell invested $3.9M in research and development in fiscal year 2025. This represents a decrease of 11.3% from the prior year.
Immucell invested $466K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 75.4% from the prior year.
ICCC Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.5M-14.6% | $6.4M-20.1% | $8.1M+49.5% | $5.4M+52.8% | $3.5M+2.5% | $3.4M-28.1% | $4.8M+24.2% | $3.9M |
| Cost of Revenue | $3.1M-13.3% | $3.6M-23.0% | $4.7M+14.1% | $4.1M+65.9% | $2.5M-20.9% | $3.1M+6.6% | $2.9M+37.0% | $2.2M |
| Gross Profit | $2.4M-16.1% | $2.8M-16.0% | $3.4M+164.7% | $1.3M+21.4% | $1.0M+247.1% | $301K-83.7% | $1.8M+8.1% | $1.7M |
| R&D Expenses | $694K-16.5% | $832K+9.9% | $757K-32.3% | $1.1M+1.7% | $1.1M-1.0% | $1.1M-12.6% | $1.3M+11.5% | $1.1M |
| SG&A Expenses | $729K+1.2% | $720K+15.7% | $623K+21.0% | $515K-2.7% | $529K-6.7% | $567K+21.6% | $466K-11.7% | $528K |
| Operating Income | $20K-96.5% | $570K-49.0% | $1.1M+194.4% | -$1.2M+9.2% | -$1.3M+42.2% | -$2.3M-265.8% | -$617K+0.4% | -$619K |
| Interest Expense | $135K-5.5% | $142K-2.5% | $146K+1.0% | $145K+63.3% | $89K-1.6% | $90K+0.6% | $89K-0.9% | $90K |
| Income Tax | $4K+134.0% | $2K0.0% | $2K+731.4% | $229-85.0% | $2K0.0% | $2K-60.6% | $4K+236.8% | $1K |
| Net Income | -$140K-127.8% | $502K-65.3% | $1.4M+253.9% | -$940K+31.9% | -$1.4M+40.4% | -$2.3M-253.4% | -$655K+4.2% | -$684K |
| EPS (Diluted) | $-0.02-133.3% | $0.06-62.5% | $0.16+233.3% | $-0.12+33.3% | $-0.18+40.0% | $-0.30-275.0% | $-0.08+11.1% | $-0.09 |
ICCC Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $45.7M-2.1% | $46.7M+2.4% | $45.6M+2.4% | $44.5M+1.2% | $44.0M+2.0% | $43.1M-7.1% | $46.4M+0.9% | $46.0M |
| Current Assets | $16.8M-1.8% | $17.1M+7.6% | $15.9M+33.1% | $12.0M+9.3% | $10.9M-10.6% | $12.2M-25.5% | $16.4M-5.2% | $17.3M |
| Cash & Equivalents | $3.9M+193.5% | $1.3M+37.9% | $960K-51.7% | $2.0M | N/A | $3.1M-64.9% | $8.8M-20.1% | $11.0M |
| Inventory | $9.8M+18.2% | $8.3M+12.7% | $7.4M-0.4% | $7.4M-2.0% | $7.5M+19.1% | $6.3M+19.0% | $5.3M+15.5% | $4.6M |
| Accounts Receivable | $2.6M+7.4% | $2.4M-28.9% | $3.3M+79.5% | $1.9M+24.4% | $1.5M-28.3% | $2.1M+22.8% | $1.7M+20.4% | $1.4M |
| Goodwill | $96K0.0% | $96K0.0% | $96K0.0% | $96K0.0% | $96K0.0% | $96K0.0% | $96K0.0% | $96K |
| Total Liabilities | $15.9M-5.5% | $16.9M+1.4% | $16.6M-10.3% | $18.5M+8.1% | $17.2M+14.6% | $15.0M+3.8% | $14.4M+7.4% | $13.4M |
| Current Liabilities | $4.0M-10.1% | $4.4M+15.0% | $3.9M+16.2% | $3.3M-20.6% | $4.2M+9.3% | $3.8M+41.4% | $2.7M-0.6% | $2.7M |
| Long-Term Debt | $7.9M-4.4% | $8.3M-19.4% | $10.2M-16.8% | $12.3M+26.6% | $9.7M-2.5% | $10.0M-4.7% | $10.5M-2.1% | $10.7M |
| Total Equity | $29.8M-0.2% | $29.9M+3.0% | $29.0M+11.5% | $26.0M-3.1% | $26.9M-4.6% | $28.2M-11.9% | $32.0M-1.8% | $32.6M |
| Retained Earnings | -$12.4M-1.1% | -$12.2M+3.9% | -$12.7M-17.0% | -$10.9M-9.5% | -$9.9M-16.1% | -$8.5M-87.3% | -$4.6M-16.8% | -$3.9M |
ICCC Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | N/A | N/A | $1.6M | N/A | N/A | -$2.8M | N/A | N/A |
| Capital Expenditures | N/A | N/A | $329K | N/A | N/A | $682K | N/A | N/A |
| Free Cash Flow | N/A | N/A | $1.2M | N/A | N/A | -$3.4M | N/A | N/A |
| Investing Cash Flow | N/A | N/A | -$329K | N/A | N/A | -$682K | N/A | N/A |
| Financing Cash Flow | N/A | N/A | -$404K | N/A | N/A | $749K | N/A | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
ICCC Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 42.9%-0.8pp | 43.7%+2.1pp | 41.6%+18.1pp | 23.5%-6.1pp | 29.5%+20.8pp | 8.7%-29.8pp | 38.5%-5.7pp | 44.2% |
| Operating Margin | 0.4%-8.5pp | 8.8%-5.0pp | 13.9%+35.8pp | -21.9%+15.0pp | -36.9%+28.5pp | -65.5%-52.6pp | -12.9%+3.2pp | -16.0% |
| Net Margin | -2.5%-10.3pp | 7.8%-10.2pp | 17.9%+35.4pp | -17.4%+21.6pp | -39.1%+28.1pp | -67.2%-53.5pp | -13.7%+4.1pp | -17.7% |
| Return on Equity | 1.9%+0.2pp | 1.7%-3.3pp | 5.0% | N/A | N/A | N/A | 0.2% | N/A |
| Return on Assets | -0.3%-1.4pp | 1.1%-2.1pp | 3.2%+5.3pp | -2.1%+1.0pp | -3.1%+2.2pp | -5.4%-4.0pp | -1.4%+0.1pp | -1.5% |
| Current Ratio | 4.21+0.4 | 3.85-0.3 | 4.12+0.5 | 3.59+1.0 | 2.61-0.6 | 3.19-2.9 | 6.05-0.3 | 6.34 |
| Debt-to-Equity | 0.27-0.0 | 0.28-0.1 | 0.35-0.1 | 0.47+0.1 | 0.360.0 | 0.35+0.0 | 0.330.0 | 0.33 |
| FCF Margin | N/A | N/A | 15.4% | N/A | N/A | -99.9% | N/A | N/A |
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks.
Financial strength trend (9 signals). 7-9 = strong, 0-3 = weak.
Operating cash flow vs net income. Above 1.0x = cash-backed earnings.
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Frequently Asked Questions
What is Immucell's annual revenue?
Immucell (ICCC) reported $26.5M in total revenue for fiscal year 2025. This represents a 51.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Immucell's revenue growing?
Immucell (ICCC) revenue grew by 51.6% year-over-year, from $17.5M to $26.5M in fiscal year 2025.
Is Immucell profitable?
No, Immucell (ICCC) reported a net income of -$2.2M in fiscal year 2025, with a net profit margin of -8.1%.
What is Immucell's earnings per share (EPS)?
Immucell (ICCC) reported diluted earnings per share of $-0.26 for fiscal year 2025. This represents a 65.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Immucell's EBITDA?
Immucell (ICCC) had EBITDA of $1.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Immucell have?
As of fiscal year 2025, Immucell (ICCC) had $3.8M in cash and equivalents against $9.0M in long-term debt.
What is Immucell's gross margin?
Immucell (ICCC) had a gross margin of 30.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Immucell's operating margin?
Immucell (ICCC) had an operating margin of -6.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Immucell's net profit margin?
Immucell (ICCC) had a net profit margin of -8.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Immucell's free cash flow?
Immucell (ICCC) generated -$108K in free cash flow during fiscal year 2025. This represents a 98.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Immucell's operating cash flow?
Immucell (ICCC) generated $358K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Immucell's total assets?
Immucell (ICCC) had $45.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Immucell's capital expenditures?
Immucell (ICCC) invested $466K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Immucell spend on research and development?
Immucell (ICCC) invested $3.9M in research and development during fiscal year 2025.
How many shares does Immucell have outstanding?
Immucell (ICCC) had 9M shares outstanding as of fiscal year 2025.
What is Immucell's current ratio?
Immucell (ICCC) had a current ratio of 3.41 as of fiscal year 2025, which is generally considered healthy.
What is Immucell's debt-to-equity ratio?
Immucell (ICCC) had a debt-to-equity ratio of 0.33 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Immucell's return on assets (ROA)?
Immucell (ICCC) had a return on assets of -4.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Immucell's Piotroski F-Score?
Immucell (ICCC) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals.
Are Immucell's earnings high quality?
Immucell (ICCC) has an earnings quality ratio of -0.17x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation.
How financially healthy is Immucell?
Immucell (ICCC) scores 60 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks.