ImmuCell Announces Preliminary, Unaudited Sales Results for Q2 of 2025

Rhea-AI Summary

ImmuCell Corporation (Nasdaq: ICCC) reported strong preliminary Q2 2025 sales results, with total sales reaching $6.4 million, an 18% increase from Q2 2024. The company has successfully increased its production capacity to over $30 million per year and reduced its order backlog to under $100,000, down significantly from $3.4 million in May 2025.

The company is now evaluating additional investments to increase capacity by 33% to approximately $40 million to meet potential North American market demand. ImmuCell is also initiating Investigational Product use of Re-Tain® in H2 2025 to test market acceptance, following its Non-Administrative New Animal Drug Application submission in January 2025.

Twelve-month sales through June 2025 grew 22% to $28.3 million, demonstrating sustained growth across all reported periods. The company has transitioned from managing product allocations to pursuing new business opportunities now that distribution inventories have been rebuilt.

Positive

• None.

Negative

• Production capacity expansion took longer than planned
• Re-Tain® Investigational Product use not expected to generate significant revenue or profit
• Pending regulatory approval for Re-Tain® still constrained by contract manufacturer inspection issues

Insights

Financial Analyst

ImmuCell reports strong 18% Q2 sales growth with resolved backlog issues; now positioned for sustainable growth and capacity expansion.

ImmuCell's Q2 2025 preliminary results show impressive momentum with $6.4 million in quarterly sales, representing an 18% year-over-year increase. More telling is the company's trailing twelve-month revenue of $28.3 million, up 22% from the prior year period, demonstrating sustained growth acceleration.

The company has successfully addressed its production bottlenecks, reducing its order backlog from $3.4 million in May to under $100,000 by quarter-end. This operational improvement marks a crucial transition from managing product shortages to pursuing new business opportunities. Distributors who previously operated with minimal inventory have now rebuilt their stocks, and ImmuCell can ship products within one week of receiving orders.

Management's focus on capacity expansion is strategically sound. Having already increased production capacity to over $30 million per year, they're now evaluating additional investments to boost capacity by another 33% to approximately $40 million. This proactive approach positions ImmuCell to capitalize on potential demand growth in North American dairy and beef markets.

On the product development front, the company is initiating Investigational Product use of Re-Tain®, its novel treatment for subclinical mastitis in dairy cows. While this test marketing initiative isn't expected to generate significant near-term revenue, it represents progress toward commercializing a potentially disruptive product that offers an alternative to traditional antibiotics without FDA-required milk discard or pre-slaughter withdrawal restrictions.

The completed Non-Administrative New Animal Drug Application submission in January 2025 indicates regulatory progress, though FDA approval remains contingent on resolving inspectional observations at contract manufacturing facilities. This regulatory uncertainty represents the primary hurdle to Re-Tain's full commercial launch.

PORTLAND, Maine, July 09, 2025 (GLOBE NEWSWIRE) -- ImmuCell Corporation (Nasdaq: ICCC) (“ImmuCell” or the “Company”), a growing animal health company that develops, manufactures and markets scientifically proven and practical products that improve the health and productivity of dairy and beef cattle, today announced preliminary, unaudited sales results for the second quarter of 2025.

Since the first quarter of 2020, the Company has been providing a preliminary look at its unaudited top line results soon after the close of the quarter. The Company expects to continue providing this prompt, preliminary report on product sales until further notice going forward.

Preliminary, Unaudited Total Sales Results:
	2025	2024	$ Increase		% Increase
During the Three-Month Periods Ended June 30,	$6.4 million	$5.5 million	$972,000		18%
During the Six-Month Periods Ended June 30,	$14.5 million	$12.7 million	$1.8 million		14%
During the Nine-Month Periods Ended June 30,	$22.3 million	$17.8 million	$4.4 million		25%
During the Twelve-Month Periods Ended June 30,	$28.3 million	$23.2 million	$5.1 million		22%

As displayed in the table above, product sales increased by 18%, 14%, 25% and 22% during the three-month, six-month, nine-month and twelve-month periods ended June 30, 2025 in comparison to the same periods ended June 30, 2024, respectively.

With increased production output, the Company has now met current customer demand and reduced the order backlog to under $100,000 as of June 30, 2025, which largely reflects normal timing differences between order dates and shipment dates and is down from approximately $3.4 million as of May 6, 2025. The recent sales pace reflects, in part, the replenishment of the distribution pipeline following an extended period during which product supply fell short of demand. During that time, distributors operated with minimal to no buffer inventory stock. Now that distribution inventories have been rebuilt, the Company is back to shipping within one week of order receipt. As a result, the Company’s commercial team has transitioned its focus from managing product allocations to pursuing new business and re-engaging customers affected during the period of short supply.

“Our investments to increase production capacity to over $30 million per year were challenging and did take longer than we had planned. We are now evaluating incremental liquid processing and freeze-drying investments to increase capacity by an additional 33% to approximately $40 million or more to capitalize on potential demand growth in the North American dairy and beef markets,” commented Michael F. Brigham, President and CEO of ImmuCell. “Although buffer stock replenishment and backlog depletion may result in one-time lifts in volume, our teams remain focused on the sustainable, long-term growth of the First Defense^® product line.”

As previously disclosed by the Company, the Company is initiating Investigational Product use of Re-Tain^® to test market acceptance of the product over the last six months of 2025. This exciting initiative reflects the innovative nature of this novel product and its safety profile and allows us to utilize available inventory before shelf-life expiration to collect critical product performance data. This opportunity is not, however, expected to generate significant revenue or profit. The Company made its Non-Administrative New Animal Drug Application (NADA) submission, that included its fourth submission of the CMC Technical Section, together with the minor technical sections covering All Other Information and Product Labeling during early January of 2025. Clearing inspectional observations at the facilities of the Company’s contract manufacturer is still the critical path constraint to NADA approval.

Conference Call:
The Company is planning to host a conference call on Friday, August 15, 2025, at 9:00 AM ET to discuss the unaudited financial results for the quarter ended June 30, 2025. Interested parties can access the conference call by dialing (844) 855-9502 (toll free) or (412) 317-5499 (international) at 9:00 AM ET. A teleconference replay of the call will be available until August 22, 2025, at (877) 344-7529 (toll free) or (412) 317-0088 (international), utilizing replay access code #5659118. Investors are encouraged to review the Company’s Corporate Presentation slide deck that provides an overview of the Company’s business and is available under the “Investors” tab of the Company’s website at www.immucell.com, or by request to the Company. An updated version of the slide deck is expected to be made available after the market closes on Thursday, August 14, 2025.

About ImmuCell:
ImmuCell Corporation's (Nasdaq: ICCC) purpose is to create scientifically proven and practical products that improve the health and productivity of dairy and beef cattle. ImmuCell manufactures and markets First Defense^®, providing Immediate Immunity™ to newborn dairy and beef calves, and is in the late stages of developing Re-Tain^®, a novel treatment for subclinical mastitis in dairy cows without FDA-required milk discard or pre-slaughter withdrawal label restrictions that provides an alternative to traditional antibiotics. Press releases and other information about the Company are available at: http://www.immucell.com.

Cautionary Note Regarding Forward-Looking Statements (Safe Harbor Statement):
This Press Release and the statements to be made in the related conference call referenced herein contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and will often include words such as “expects”, “may”, “anticipates”, “aims”, “intends”, “would”, “could”, “should”, “will”, “plans”, “believes”, “estimates”, “targets”, “projects”, “forecasts”, “seeks” and similar words and expressions. Such statements include, but are not limited to, any forward-looking statements relating to: our plans, goals and strategies for our business; projections of future financial or operational performance; the timing and outcome of pending or anticipated applications for regulatory approvals and pending or anticipated regulatory inspections of our facilities and those of our contract manufacturers; future demand for our products; future adoption of Re-Tain^® by dairy producers; growth in acceptance of our First Defense^® product line by dairy and beef producers; the impact of the global supply-chain disruptions on our ability to obtain, in a timely and cost-effective fashion, all the supplies and components we need to produce our products; the impact of inflation and rising interest rates on our operating expenses and financial results; the scope and timing of ongoing and future product development work and commercialization of our products; future costs of product development efforts; future incidence rates of subclinical mastitis and producers’ level of interest in treating subclinical mastitis; the expected efficacy of new products; estimates about the market size for our products; future market share of and revenue generated by current products and products still in development; our ability to increase production output and reduce costs of goods sold per unit; the adequacy of our own manufacturing facilities or those of third parties with which we have contractual relationships to meet demand for our products on a timely basis; the impacts of backlogs on customer relationships; the efficacy of our contamination remediation efforts; whether or not we will experience future contamination events; the anticipated costs of (or time to complete) planned expansions of our manufacturing facilities and the adequacy of our funds available for these projects; the robustness of our manufacturing processes to meet future demand and related technical issues; estimates about our future production capacity, efficiency and yield; the salability of products currently held in inventory pending regulatory approval; future regulatory requirements relating to our products; future expense ratios and margins; the future consequences and effectiveness of our investments in our business; anticipated changes in our manufacturing capabilities and efficiencies; our future effectiveness in competing against competitors within both our existing and our anticipated product markets; and any other statements that are not historical facts. These statements are intended to provide management's current expectations of future events as of the date of this earnings release, are based on management's estimates, projections, beliefs and assumptions as of the date hereof; and are not guarantees of future performance. Such statements involve known and unknown risks and uncertainties that may cause the Company's actual results, financial or operational performance or achievements to be materially different from those expressed or implied by these forward-looking statements, including, but not limited to, those risks and uncertainties relating to: difficulties or delays in development, testing, regulatory approval, production and marketing of our products (including the First Defense^® product line and Re-Tain^®), competition within our anticipated product markets, customer acceptance of our new and existing products, product performance, alignment between our manufacturing resources and product demand (including the consequences of backlogs), uncertainty associated with the timing and volume of customer orders as we come out of a prolonged backlog, adverse impacts of supply chain disruptions on our operations and customer and supplier relationships, commercial and operational risks relating to our current and planned expansion of production capacity, and other risks and uncertainties detailed from time to time in filings we make with the Securities and Exchange Commission (SEC), including our Quarterly Reports on Form 10-Q, our Annual Reports on Form 10-K and our Current Reports on Form 8-K. Such statements involve risks and uncertainties and are based on our current expectations, but actual results may differ materially due to various factors. In addition, there can be no assurance that future risks, uncertainties or developments affecting us will be those that we anticipate. We undertake no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Contacts:	Michael F. Brigham, President and CEO Timothy C. Fiori, CFO ImmuCell Corporation                         (207) 878-2770
	Joe Diaz, Robert Blum and Joe Dorame Lytham Partners, LLC                        (602) 889-9700                           iccc@lythampartners.com

FAQ

What were ImmuCell's (ICCC) Q2 2025 sales results?

ImmuCell reported $6.4 million in sales for Q2 2025, representing an 18% increase compared to $5.5 million in Q2 2024.

How much has ImmuCell's (ICCC) order backlog decreased in 2025?

ImmuCell's order backlog decreased from $3.4 million in May 2025 to under $100,000 as of June 30, 2025, reflecting normalized operations.

What is ImmuCell's (ICCC) current production capacity and future plans?

Current production capacity is over $30 million per year, with plans to increase by 33% to approximately $40 million through additional investments in liquid processing and freeze-drying.

What is the status of ImmuCell's Re-Tain® product development?

ImmuCell submitted its NADA application in January 2025 and is initiating Investigational Product use in H2 2025, though regulatory approval is pending resolution of contract manufacturer inspection issues.

How much did ImmuCell's (ICCC) trailing twelve-month sales grow?

ImmuCell's trailing twelve-month sales through June 30, 2025, grew 22% to $28.3 million compared to $23.2 million in the previous period.