Ispecimen Inc. (ISPC) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 2, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ISPC SEC filings page.
Ispecimen Inc. (ISPC) reported $1.9M in revenue for fiscal year 2025, down 79.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).
Revenue contraction exposes a near-zero-margin model, with external financing becoming central as operating cash generation remains negative.
Revenue fell from$9.3M in FY2024 to$1.9M in FY2025, indicating a contraction that materially reduced the business’s operating scale. Gross margin reached only1.3% in FY2025 while operating margin was-465.4% , showing that the latest weakness affected unit economics as well as volume.
Operating cash flow and free cash flow were both about
Financing cash flow supplied
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Ispecimen Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Ispecimen Inc. held $6.9M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $4.2M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Ispecimen Inc. scores 45/100 among other emerging companies.
Ispecimen Inc. had 30M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Ispecimen Inc. scores 13/100 among other emerging companies.
Not available for Ispecimen Inc., and counted as zero in the overall score.
Ispecimen Inc. reported revenue of $1.9M in fiscal year 2025, against $9.3M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Ispecimen Inc. scores 4/100 among other emerging companies.
Ispecimen Inc.'s operations used $4.2M of cash in fiscal year 2025, against $8.3M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Ispecimen Inc. scores 59/100 among other emerging companies.
Ispecimen Inc.'s cash, cash equivalents and investments came to $6.9M at the end of fiscal year 2025, against $6.4M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Ispecimen Inc. scores 60/100 among other emerging companies.
Ispecimen Inc. scores -14.56, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($3.8M) relative to total liabilities ($6.4M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Ispecimen Inc. passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
Ispecimen Inc. reported a net loss of $10.5M while operations used $4.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Ispecimen Inc. reported an operating loss of $9.0M against $2K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Ispecimen Inc. generated $152K in revenue in Q2 2026. This represents a decrease of 78.7% from the same quarter a year earlier. Against the prior quarter it is down 2.6%.
Ispecimen Inc.'s EBITDA was -$1.4M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 22.5% from the same quarter a year earlier. Against the prior quarter it is up 43.4%.
Ispecimen Inc. reported -$1.4M in net income in Q2 2026. This represents a decrease of 30.1% from the same quarter a year earlier. Against the prior quarter it is up 40.1%.
Cash & Balance Sheet
Ispecimen Inc. held $4.4M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Ispecimen Inc.'s gross margin was 45.2% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 7.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.7 percentage points.
Ispecimen Inc.'s ROE was -78.5% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 89.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 201.0 percentage points.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
None of these metrics is reported for Q2 2026.
ISPC Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $152K-78.7% | $156K-85.2% | $52K-96.5% | $107K-96.0% | $713K-75.1% | $1.1M-53.8% | $1.5M-42.7% | $2.7M-4.2% |
| Cost of Revenue | $83K-81.2% | $84K-87.2% | $599K-54.8% | $205K-86.8% | $444K-68.8% | $657K-34.3% | $1.3M-7.2% | $1.6M+11.6% |
| Gross Profit | $69K-74.5% | $72K-82.1% | -$547K-461.5% | -$98K-108.8% | $269K-81.3% | $400K-69.0% | $151K-86.8% | $1.1M-20.0% |
| SG&A Expenses | $443K-53.3% | $680K-10.3% | $901K-55.3% | $864K-3.2% | $948K-10.1% | $759K-63.9% | $2.0M+60.5% | $893K-19.0% |
| Operating Income | -$1.4M+25.2% | -$2.5M-54.9% | -$2.7M+54.0% | -$2.8M-66.0% | -$1.8M+16.5% | -$1.6M+45.4% | -$5.8M-103.4% | -$1.7M+22.3% |
| EBITDA | -$1.4M+22.5% | -$2.4M-99.3% | -$1.5M+64.4% | -$2.8M-68.5% | -$1.8M+17.1% | -$1.2M+49.8% | -$4.3M-395.9% | -$1.6M+24.2% |
| Interest Expense | N/A | N/A | N/A | $2-100.0% | N/A | $2K-56.4% | $157K+3425.9% | $7K+64.9% |
| Net Income | -$1.4M-30.1% | -$2.3M-37.2% | -$5.0M+17.3% | -$2.8M-93.1% | -$1.0M+50.3% | -$1.7M+42.9% | -$6.0M-96.8% | -$1.4M+31.8% |
| EPS (Basic) | -$0.98+94.2% | -$6.66+76.7% | -$0.74+88.2% | -$0.48+77.1% | -$16.78-351.1% | -$28.55-348.9% | -$6.28-1747.1% | -$2.10+54.9% |
| EPS (Diluted) | -$0.98 | -$6.66 | -$0.74 | -$0.48 | -$16.78 | -$28.55 | -$6.28 | -$2.10 |
| Diluted Shares (Avg) | 1M | 341,377 | N/A | 6M | 62,424 | 58,078 | N/A | 687,147 |
Not reported in any period shown, so not listed: R&D Expenses, Income Tax.
ISPC Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $7.4M+22.5% | $6.6M-3.4% | $9.5M+1.9% | $9.0M-20.1% | $6.0M-49.3% | $6.8M-45.3% | $9.4M-40.9% | $11.3M-30.9% |
| Current Assets | $4.5M+284.6% | $3.5M+128.0% | $7.0M+93.8% | $3.6M-22.7% | $1.2M-77.7% | $1.5M-71.1% | $3.6M-56.4% | $4.7M-49.0% |
| Cash & Equivalents | $4.4M+649.8% | $2.8M+260.2% | $6.9M+266.3% | $2.8M+58.8% | $589K-72.6% | $783K-62.6% | $1.9M-19.9% | $1.8M-35.6% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0-100.0% | $0-100.0% | $0-100.0% |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | $45K | N/A |
| Accounts Receivable | $21K-94.3% | $133K-77.2% | $48K-96.7% | $121K-87.6% | $372K-58.3% | $582K+33.0% | $1.4M+98.3% | $974K-42.9% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $5.7M+4.5% | $5.8M+12.0% | $6.4M+6.7% | $5.9M-9.5% | $5.4M-6.9% | $5.2M-9.2% | $6.0M-0.6% | $6.5M+82.5% |
| Current Liabilities | $5.5M+5.9% | $5.6M+13.8% | $6.2M+8.0% | $5.7M-9.1% | $5.2M-11.0% | $4.9M-13.7% | $5.8M-4.6% | $6.3M+78.2% |
| Non-Current Liabilities | $180K-25.4% | $196K-23.2% | $212K-21.2% | $227K-19.5% | $241K | $255K | $269K+822.8% | $281K+289.3% |
| Total Equity | $1.7M+179.2% | $814K-51.2% | $3.1M-6.7% | $3.1M-34.8% | $622K-89.8% | $1.7M-75.5% | $3.3M-66.0% | $4.7M-62.9% |
| Retained Earnings | -$86.0M-15.3% | -$84.6M-15.1% | -$82.4M-14.6% | -$77.3M-17.5% | -$74.6M-15.8% | -$73.5M-18.1% | -$71.9M-21.1% | -$65.8M-16.9% |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
ISPC Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$690K-258.7% | -$3.4M-206.8% | -$917K+74.3% | -$2.0M-88.6% | -$192K+87.5% | -$1.1M+47.1% | -$3.6M-1135.1% | -$1.1M+33.9% |
| Depreciation & Amortization | $2K-96.7% | $136K-68.6% | $408K-25.6% | $65K+1.0% | $65K+1.7% | $433K-27.5% | $548K-72.7% | $64K+116.2% |
| Stock-Based Compensation | N/A | $1K-93.5% | N/A | N/A | N/A | $16K-83.1% | N/A | N/A |
| Capital Expenditures | N/A | N/A | $0-100.0% | $0-100.0% | N/A | N/A | $8K | $15K+153.7% |
| Free Cash Flow | N/A | N/A | -$917K+74.4% | -$2.0M-86.1% | N/A | N/A | -$3.6M-1137.4% | -$1.1M+33.3% |
| Investing Cash Flow | $0 | -$700K | $0+100.0% | -$1.0M-455.7% | N/A | N/A | -$73K+89.9% | -$180K-107.7% |
| Financing Cash Flow | N/A | N/A | $5.0M+32.9% | $5.2M+508.1% | N/A | N/A | $3.8M | $860K |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0 |
Not reported in any period shown, so not listed: Dividends Paid.
ISPC Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 45.2%+7.5pp | 45.9%+8.0pp | -1056.9% | -91.9%-133.6pp | 37.7%-12.6pp | 37.9%-18.5pp | 10.3%-34.3pp | 41.6%-8.2pp |
| Operating Margin | -897.1% | -1627.1% | -5192.9% | -2655.2% | -255.4% | -154.9% | -395.8% | -64.1%+14.9pp |
| Net Margin | -896.9% | -1458.4% | -9662.2% | -2608.7% | -146.8% | -156.8% | -409.8% | -54.1%+21.9pp |
| Return on Equity | -78.5%+89.9pp | -279.5%-180.1pp | -161.9%+20.7pp | -90.5%-60.0pp | -168.4%-133.7pp | -99.4%-56.8pp | -182.6%-151.1pp | -30.5%-13.9pp |
| Return on Assets | -18.4%-1.1pp | -34.4%-10.2pp | -52.5%+12.2pp | -30.9%-18.1pp | -17.3%+0.4pp | -24.2%-1.0pp | -64.7%-45.2pp | -12.8%+0.2pp |
| Current Ratio | 0.82+0.6x | 0.62+0.3x | 1.12+0.5x | 0.63-0.1x | 0.23-0.7x | 0.31-0.6x | 0.62-0.7x | 0.74-1.9x |
| Debt-to-Equity | 3.26-5.4x | 7.12+4.0x | 2.09+0.3x | 1.93+0.5x | 8.70+7.7x | 3.10+2.3x | 1.82+1.2x | 1.39+1.1x |
| Asset Turnover | 0.02-0.1x | 0.02-0.1x | 0.01-0.2x | 0.01-0.2x | 0.12-0.1x | 0.150.0x | 0.160.0x | 0.24+0.1x |
| FCF Margin | N/A | N/A | -1771.5% | -1909.7% | N/A | N/A | -242.7% | -41.1%+17.9pp |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Ispecimen Inc. ISPC | FY2025 | $1.9M | -$10.5M | N/A | $3.8M | 30/100 |
| Advanced Biomed Inc. ADVB | FY2025 | N/A | -$3.3M | N/A | $17.2M | — |
| Mainz Biomed NV MYNZ | FY2025 | $537K | -$16.2M | N/A | $10.6M | — |
| bioAffinity Tech BIAF | FY2025 | $6.2M | -$14.9M | N/A | $3.9M | 44/100 |
| XWELL Inc XWEL | FY2025 | $29.2M | -$17.0M | -58.2% | $8.2M | 27/100 |
| Prophase Labs Inc PRPH | FY2025 | $4.3M | -$14.7M | N/A | $1.5M | — |
Where Ispecimen Inc. Ranks
Frequently Asked Questions
What is Ispecimen Inc.'s annual revenue?
Ispecimen Inc. (ISPC) reported $1.9M in total revenue for fiscal year 2025. This represents a -79.2% 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 Ispecimen Inc.'s revenue growing?
Ispecimen Inc. (ISPC) revenue declined by 79.2% year-over-year, from $9.3M to $1.9M in fiscal year 2025.
Is Ispecimen Inc. profitable?
No, Ispecimen Inc. (ISPC) reported a net income of -$10.5M in fiscal year 2025.
What is Ispecimen Inc.'s EBITDA?
Ispecimen Inc. (ISPC) had EBITDA of -$7.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Ispecimen Inc.'s gross margin?
Ispecimen Inc. (ISPC) had a gross margin of 1.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Ispecimen Inc.'s return on equity (ROE)?
Ispecimen Inc. (ISPC) has a return on equity of -339.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Ispecimen Inc.'s free cash flow?
Ispecimen Inc. (ISPC) recorded an outflow of $4.2M in free cash flow during fiscal year 2025. This represents a 48.9% 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 Ispecimen Inc.'s operating cash flow?
Ispecimen Inc. (ISPC) recorded an outflow of $4.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Ispecimen Inc.'s total assets?
Ispecimen Inc. (ISPC) had $9.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Ispecimen Inc.'s capital expenditures?
Ispecimen Inc. (ISPC) invested $454 in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Ispecimen Inc.'s current ratio?
Ispecimen Inc. (ISPC) had a current ratio of 1.12 as of fiscal year 2025, which is considered adequate.
What is Ispecimen Inc.'s debt-to-equity ratio?
Ispecimen Inc. (ISPC) had a debt-to-equity ratio of 2.09 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ispecimen Inc.'s return on assets (ROA)?
Ispecimen Inc. (ISPC) had a return on assets of -110.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Ispecimen Inc.'s P/E ratio?
Ispecimen Inc. (ISPC) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $3.8M as of Sep 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Ispecimen Inc.'s price-to-sales ratio?
Ispecimen Inc. (ISPC) trades at 8.0x sales, its market capitalization divided by revenue of $466K revenue, trailing 12 months to June 30, 2026. The market capitalization is $3.8M as of Sep 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Ispecimen Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Ispecimen Inc. (ISPC) held $6.9M in cash, cash equivalents and investments, and reported an operating cash outflow of $4.2M over that year. Dividing the one by the other, the reported balance equals about 19 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Ispecimen Inc.'s Altman Z-Score?
Ispecimen Inc. (ISPC) has an Altman Z-Score of -14.56, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Ispecimen Inc.'s Piotroski F-Score?
Ispecimen Inc. (ISPC) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Ispecimen Inc.'s earnings high quality?
Ispecimen Inc. (ISPC) reported a net loss of $10.5M while operations used $4.2M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 Ispecimen Inc. cover its interest payments?
Ispecimen Inc. (ISPC) reported an operating loss of $9.0M against $2K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 Ispecimen Inc.?
Ispecimen Inc. (ISPC) scores 30 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.