International Stem Cell Corp Financials

ISCO

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows International Stem Cell Corp (ISCO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Financial Health Signals

Financial Profile 22/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

International Stem Cell Corp has an operating margin of -0.8%, meaning the company retains $-1 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -8.5% the prior year.

Growth

International Stem Cell Corp's revenue surged 16.6% year-over-year to $9.1M, reflecting rapid business expansion. This strong growth earns a score of 76/100.

Liquidity

International Stem Cell Corp's current ratio of 0.76 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 10/100, which could limit financial flexibility.

Cash Flow

While International Stem Cell Corp generated $13K in operating cash flow, capex of $166K consumed most of it, leaving -$153K in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Piotroski F-Score Neutral

5/9

International Stem Cell Corp passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Mixed

-0.06x

For every $1 of reported earnings, International Stem Cell Corp generates $-0.06 in operating cash flow ($13K OCF vs -$209K net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

-0.5x

International Stem Cell Corp earns $-0.5 in operating income for every $1 of interest expense (-$68K vs $145K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Revenue

$9.1M

YoY+16.6%

5Y CAGR-0.8%

10Y CAGR+2.6%

International Stem Cell Corp generated $9.1M in revenue in fiscal year 2024. This represents an increase of 16.6% from the prior year.

EBITDA

$138K

YoY+129.4%

International Stem Cell Corp's EBITDA was $138K in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 129.4% from the prior year.

Free Cash Flow

-$153K

YoY-118.0%

International Stem Cell Corp generated -$153K in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 118.0% from the prior year.

Net Income

-$209K

YoY-59.5%

International Stem Cell Corp reported -$209K in net income in fiscal year 2024. This represents a decrease of 59.5% from the prior year.

EPS (Diluted)

$-0.03

YoY-50.0%

International Stem Cell Corp earned $-0.03 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 50.0% from the prior year.

Cash & Debt

$1.2M

YoY-22.5%

5Y CAGR+20.5%

10Y CAGR+1.0%

International Stem Cell Corp held $1.2M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

YoY+0.0%

5Y CAGR+1.2%

10Y CAGR+17.5%

International Stem Cell Corp had 8M shares outstanding in fiscal year 2024. This represents an increase of 0.0% from the prior year.

Gross Margin

58.6%

YoY-0.6pp

5Y CAGR+0.1pp

10Y CAGR-14.0pp

International Stem Cell Corp's gross margin was 58.6% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 0.6 percentage points from the prior year.

Operating Margin

-0.8%

YoY+7.8pp

5Y CAGR+59.7pp

10Y CAGR+123.0pp

International Stem Cell Corp's operating margin was -0.8% in fiscal year 2024, reflecting core business profitability. This is up 7.8 percentage points from the prior year.

Net Margin

-2.3%

YoY-0.6pp

5Y CAGR+42.7pp

10Y CAGR+175.5pp

International Stem Cell Corp's net profit margin was -2.3% in fiscal year 2024, showing the share of revenue converted to profit. This is down 0.6 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$657K

YoY+28.6%

5Y CAGR-13.9%

10Y CAGR-19.0%

International Stem Cell Corp invested $657K in research and development in fiscal year 2024. This represents an increase of 28.6% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$166K

YoY+107.5%

5Y CAGR+0.2%

10Y CAGR-5.4%

International Stem Cell Corp invested $166K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 107.5% from the prior year.

ISCO Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$9.1M+16.6%	$7.8M-4.8%	$8.2M+14.0%	$7.2M+0.7%	$7.1M-24.7%	$9.5M
Cost of Revenue	$3.8M+18.3%	$3.2M-2.7%	$3.3M+11.4%	$2.9M+5.5%	$2.8M-29.3%	$3.9M
Gross Profit	$5.3M+15.5%	$4.6M-6.2%	$4.9M+15.8%	$4.2M-2.4%	$4.3M-21.5%	$5.5M
R&D Expenses	$657K+28.6%	$511K+3.9%	$492K-29.2%	$695K-29.7%	$988K-28.7%	$1.4M
SG&A Expenses	$3.5M+0.1%	$3.5M+4.7%	$3.4M-17.8%	$4.1M-7.6%	$4.4M-38.5%	$7.2M
Operating Income	-$68K+89.7%	-$663K-262.3%	-$183K+90.5%	-$1.9M+31.8%	-$2.8M+50.8%	-$5.7M
Interest Expense	$145K+4.3%	$139K+3.0%	$135K+5.5%	$128K+13.3%	$113K+46.8%	$77K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$209K-59.5%	-$131K+60.4%	-$331K+63.2%	-$899K+67.0%	-$2.7M+36.1%	-$4.3M
EPS (Diluted)	$-0.03-50.0%	$-0.02+50.0%	$-0.04+63.6%	$-0.11	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Revenue	$2.4M-3.2%	$2.4M+14.9%	$2.1M-13.0%	$2.4M+12.3%	$2.2M-6.5%	$2.3M+9.5%	$2.1M+12.7%	$1.9M
Cost of Revenue	$1.0M+13.1%	$927K-6.6%	$992K+0.2%	$990K+1.6%	$974K+6.7%	$913K+2.9%	$887K+2.8%	$863K
Gross Profit	$1.3M-13.1%	$1.5M+33.7%	$1.1M-21.9%	$1.5M+20.8%	$1.2M-15.0%	$1.4M+14.2%	$1.2M+21.1%	$1.0M
R&D Expenses	$158K-2.5%	$162K-13.4%	$187K-11.0%	$210K+12.3%	$187K+125.3%	$83K-53.1%	$177K+6.6%	$166K
SG&A Expenses	$789K-12.8%	$905K+1.5%	$892K-1.7%	$907K+11.2%	$816K-7.7%	$884K-2.8%	$909K-5.7%	$964K
Operating Income	$94K-43.7%	$167K+177.7%	-$215K-521.6%	$51K+156.7%	-$90K-160.4%	$149K+183.7%	-$178K+58.0%	-$424K
Interest Expense	$37K-2.6%	$38K-7.3%	$41K+5.1%	$39K+11.4%	$35K0.0%	$35K-2.8%	$36K+5.9%	$34K
Income Tax	$0	N/A	N/A	N/A	$0	N/A	$0	N/A
Net Income	$57K-55.8%	$129K+150.4%	-$256K-2427.3%	$11K+108.8%	-$125K-205.0%	$119K+155.6%	-$214K+53.3%	-$458K
EPS (Diluted)	$0.00-100.0%	$0.01+133.3%	$-0.03-400.0%	$0.01+150.0%	$-0.02-300.0%	$0.01+133.3%	$-0.030.0%	$-0.03

ISCO Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$5.2M-4.0%	$5.4M+5.0%	$5.1M+3.8%	$4.9M-6.4%	$5.3M-20.1%	$6.6M
Current Assets	$3.6M+1.1%	$3.5M+18.8%	$3.0M+26.9%	$2.3M+6.9%	$2.2M-36.8%	$3.5M
Cash & Equivalents	$1.2M-22.5%	$1.6M+114.0%	$742K+333.9%	$171K-75.2%	$689K+42.4%	$484K
Inventory	$1.1M-9.0%	$1.3M-8.7%	$1.4M+16.9%	$1.2M+29.1%	$917K-26.4%	$1.2M
Accounts Receivable	$1.1M+84.3%	$574K-23.2%	$747K-11.5%	$844K+109.4%	$403K-73.4%	$1.5M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$9.1M-4.9%	$9.6M-0.8%	$9.7M+1.3%	$9.5M-0.9%	$9.6M+1.2%	$9.5M
Current Liabilities	$4.7M-3.0%	$4.8M+4.3%	$4.6M+8.2%	$4.3M+188.9%	$1.5M-22.5%	$1.9M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$3.9M+6.1%	-$4.2M+7.4%	-$4.5M+1.5%	-$4.6M-5.9%	-$4.3M-50.0%	-$2.9M
Retained Earnings	-$110.7M-0.2%	-$110.5M-0.1%	-$110.3M-0.3%	-$110.0M-0.8%	-$109.1M-2.6%	-$106.4M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Total Assets	$5.3M-4.8%	$5.5M-1.4%	$5.6M+8.7%	$5.2M-0.1%	$5.2M-7.4%	$5.6M+4.2%	$5.4M-0.4%	$5.4M
Current Assets	$3.7M-2.8%	$3.8M+0.1%	$3.8M+7.8%	$3.6M+2.0%	$3.5M-8.6%	$3.8M+6.3%	$3.6M+2.0%	$3.5M
Cash & Equivalents	$966K+5.0%	$920K-36.6%	$1.5M+18.0%	$1.2M-5.9%	$1.3M+1.3%	$1.3M-6.9%	$1.4M-12.7%	$1.6M
Inventory	$1.6M+2.6%	$1.6M+23.2%	$1.3M+9.5%	$1.1M-17.0%	$1.4M-2.2%	$1.4M+11.2%	$1.3M+0.8%	$1.3M
Accounts Receivable	$1.0M-7.8%	$1.1M+29.4%	$851K-19.6%	$1.1M+55.6%	$680K-16.0%	$810K+28.2%	$632K+10.1%	$574K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$9.1M-4.1%	$9.4M-2.7%	$9.7M+6.7%	$9.1M-1.3%	$9.2M-4.0%	$9.6M-0.2%	$9.6M+0.6%	$9.6M
Current Liabilities	$4.7M-5.8%	$4.9M-3.3%	$5.1M+9.0%	$4.7M-0.6%	$4.7M-6.1%	$5.0M+1.2%	$5.0M+2.8%	$4.8M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$3.8M+3.1%	-$3.9M+4.7%	-$4.1M-4.0%	-$3.9M+2.7%	-$4.0M-0.6%	-$4.0M+5.8%	-$4.3M-1.8%	-$4.2M
Retained Earnings	-$110.8M+0.1%	-$110.8M+0.1%	-$110.9M-0.2%	-$110.7M0.0%	-$110.7M-0.1%	-$110.6M+0.1%	-$110.7M-0.2%	-$110.5M

ISCO Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$13K-98.6%	$929K+179.8%	$332K+125.6%	-$1.3M-280.4%	-$341K+75.6%	-$1.4M
Capital Expenditures	$166K+107.5%	$80K+7900.0%	$1K-95.7%	$23K-17.9%	$28K-82.9%	$164K
Free Cash Flow	-$153K-118.0%	$849K+156.5%	$331K+125.1%	-$1.3M-257.7%	-$369K+76.4%	-$1.6M
Investing Cash Flow	-$171K-106.0%	-$83K-654.5%	-$11K+75.6%	-$45K+58.3%	-$108K+78.1%	-$494K
Financing Cash Flow	-$200K	N/A	$250K-69.7%	$824K+26.0%	$654K-49.7%	$1.3M
Dividends Paid	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

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Operating Cash Flow	$49K+116.3%	-$300K-232.2%	$227K+406.8%	-$74K-128.8%	$257K+1017.4%	$23K+111.9%	-$193K-219.9%	$161K
Capital Expenditures	$3K-90.6%	$32K+540.0%	$5K+400.0%	$1K-97.3%	$37K-69.2%	$120K+1400.0%	$8K	$0
Free Cash Flow	$46K+113.9%	-$332K-249.5%	$222K+396.0%	-$75K-134.1%	$220K+326.8%	-$97K+51.7%	-$201K-224.8%	$161K
Investing Cash Flow	-$3K+90.6%	-$32K-540.0%	-$5K-66.7%	-$3K+92.5%	-$40K+66.4%	-$119K-1222.2%	-$9K-200.0%	-$3K
Financing Cash Flow	$0	N/A	N/A	$0	$0-100.0%	$853K+1709.4%	-$53K-110.6%	$500K
Dividends Paid	N/A	N/A	N/A	N/A	$0	$0	$0	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ISCO Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	58.6%-0.6pp	59.2%-0.9pp	60.0%+0.9pp	59.1%-1.9pp	61.0%+2.5pp	58.5%
Operating Margin	-0.8%+7.8pp	-8.5%-6.3pp	-2.2%+24.5pp	-26.8%+12.8pp	-39.5%+20.9pp	-60.5%
Net Margin	-2.3%-0.6pp	-1.7%+2.4pp	-4.0%+8.5pp	-12.5%+25.7pp	-38.2%+6.8pp	-45.0%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-4.0%-1.6pp	-2.4%+4.0pp	-6.5%+11.7pp	-18.2%+33.3pp	-51.5%+12.9pp	-64.4%
Current Ratio	0.76+0.0	0.73+0.1	0.64+0.1	0.54-0.9	1.47-0.3	1.80
Debt-to-Equity	-2.32-0.0	-2.29-0.2	-2.14-0.1	-2.08+0.1	-2.22+1.1	-3.29
FCF Margin	-1.7%-12.6pp	10.9%+6.9pp	4.0%+22.4pp	-18.4%-13.2pp	-5.2%+11.3pp	-16.5%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Gross Margin	55.8%-6.4pp	62.1%+8.7pp	53.4%-6.1pp	59.5%+4.2pp	55.3%-5.5pp	60.8%+2.5pp	58.3%+4.0pp	54.3%
Operating Margin	4.0%-2.8pp	6.8%+16.9pp	-10.1%-12.2pp	2.1%+6.2pp	-4.1%-10.5pp	6.4%+14.8pp	-8.4%+14.1pp	-22.4%
Net Margin	2.4%-2.9pp	5.3%+17.3pp	-12.0%-12.5pp	0.4%+6.2pp	-5.7%-10.8pp	5.1%+15.2pp	-10.1%+14.2pp	-24.3%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	1.1%-1.3pp	2.3%+6.9pp	-4.5%-4.8pp	0.2%+2.6pp	-2.4%-4.5pp	2.1%+6.1pp	-4.0%+4.5pp	-8.5%
Current Ratio	0.80+0.0	0.78+0.0	0.750.0	0.76+0.0	0.74-0.0	0.76+0.0	0.720.0	0.73
Debt-to-Equity	-2.40+0.0	-2.42-0.0	-2.38-0.1	-2.32-0.0	-2.28+0.1	-2.39-0.1	-2.26+0.0	-2.29
FCF Margin	1.9%+15.5pp	-13.6%-24.0pp	10.4%+13.5pp	-3.1%-13.2pp	10.1%+14.3pp	-4.2%+5.3pp	-9.4%-18.0pp	8.5%

Note: Shareholder equity is negative (-$3.9M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.76), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is International Stem Cell Corp's annual revenue?

International Stem Cell Corp (ISCO) reported $9.1M in total revenue for fiscal year 2024. This represents a 16.6% 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 International Stem Cell Corp's revenue growing?

International Stem Cell Corp (ISCO) revenue grew by 16.6% year-over-year, from $7.8M to $9.1M in fiscal year 2024.

Is International Stem Cell Corp profitable?

No, International Stem Cell Corp (ISCO) reported a net income of -$209K in fiscal year 2024, with a net profit margin of -2.3%.

What is International Stem Cell Corp's earnings per share (EPS)?

International Stem Cell Corp (ISCO) reported diluted earnings per share of $-0.03 for fiscal year 2024. This represents a -50.0% 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 International Stem Cell Corp's EBITDA?

International Stem Cell Corp (ISCO) had EBITDA of $138K in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is International Stem Cell Corp's gross margin?

International Stem Cell Corp (ISCO) had a gross margin of 58.6% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is International Stem Cell Corp's operating margin?

International Stem Cell Corp (ISCO) had an operating margin of -0.8% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is International Stem Cell Corp's net profit margin?

International Stem Cell Corp (ISCO) had a net profit margin of -2.3% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is International Stem Cell Corp's free cash flow?

International Stem Cell Corp (ISCO) generated -$153K in free cash flow during fiscal year 2024. This represents a -118.0% 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 International Stem Cell Corp's operating cash flow?

International Stem Cell Corp (ISCO) generated $13K in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are International Stem Cell Corp's total assets?

International Stem Cell Corp (ISCO) had $5.2M in total assets as of fiscal year 2024, including both current and long-term assets.

What are International Stem Cell Corp's capital expenditures?

International Stem Cell Corp (ISCO) invested $166K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does International Stem Cell Corp spend on research and development?

International Stem Cell Corp (ISCO) invested $657K in research and development during fiscal year 2024.

How many shares does International Stem Cell Corp have outstanding?

International Stem Cell Corp (ISCO) had 8M shares outstanding as of fiscal year 2024.

What is International Stem Cell Corp's current ratio?

International Stem Cell Corp (ISCO) had a current ratio of 0.76 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is International Stem Cell Corp's debt-to-equity ratio?

International Stem Cell Corp (ISCO) had a debt-to-equity ratio of -2.32 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is International Stem Cell Corp's return on assets (ROA)?

International Stem Cell Corp (ISCO) had a return on assets of -4.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

Why is International Stem Cell Corp's debt-to-equity ratio negative or unusual?

International Stem Cell Corp (ISCO) has negative shareholder equity of -$3.9M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is International Stem Cell Corp's Piotroski F-Score?

International Stem Cell Corp (ISCO) has a Piotroski F-Score of 5 out of 9, indicating neutral 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. Learn more in our complete guide to financial health indicators.

Are International Stem Cell Corp's earnings high quality?

International Stem Cell Corp (ISCO) has an earnings quality ratio of -0.06x, 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. Learn more in our complete guide to financial health indicators.

Can International Stem Cell Corp cover its interest payments?

International Stem Cell Corp (ISCO) has an interest coverage ratio of -0.5x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is International Stem Cell Corp?

International Stem Cell Corp (ISCO) scores 22 out of 100 on our Financial Profile, indicating weak 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. Learn more in our complete guide to financial health indicators.