ImmuCell Announces Preliminary, Unaudited Sales Results for Q4 and Full Year of 2025
Rhea-AI Summary
ImmuCell (Nasdaq: ICCC) reported preliminary, unaudited sales for Q4 and full-year 2025. Q4 product sales were $7.6 million (down 1.6% year-over-year) with domestic $7.0M (+8.7%), international $0.62M (-52.6%), Tri-Shield $6.0M (+41.3%) and Dual-Force/other $1.7M (-53.0%). FY 2025 sales were $27.6M (+4.3%) with Tri-Shield $19.9M (+26.5%) and Dual-Force $7.7M (-28.2%).
The company received an FDA Incomplete Letter for Re-Tain (Dec 23, 2025), paused further Re-Tain investment and expects an approx. $2.9M non-cash impairment for Re-Tain assets and total Q4 write-downs of $3.6M. Management plans to repurpose most Re-Tain assets for First Defense and expand the sales force by 50%.
Positive
- Tri-Shield sales +26.5% for FY 2025 to $19.9M
- Tri-Shield sales +41.3% in Q4 2025 to $6.0M
- Plan to repurpose Re-Tain assets to expand First Defense manufacturing capacity
- Implemented manufacturing improvements that increased lyophilization output >15% in 2025
Negative
- Dual-Force and other sales declined 28.2% for FY 2025 to $7.7M
- Dual-Force sales down 53.7% in Q4 2025 to $1.5M
- Q4 international sales fell 52.6% to $0.62M
- Estimated non-cash impairment of $2.9M for Re-Tain property, plant and equipment and total Q4 write-downs of $3.6M
News Market Reaction
On the day this news was published, ICCC gained 5.29%, reflecting a notable positive market reaction. Argus tracked a peak move of +11.4% during that session. Our momentum scanner triggered 8 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $3M to the company's valuation, bringing the market cap to $62M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
ICCC fell 1.73% while peers were mixed: DTIL +2.11%, MAIA +7.24%, PYPD +4.61%, KPTI +6.5%, and JUNS -2.34%. This points to a stock-specific reaction rather than a sector-wide move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 07 | Investor call notice | Neutral | -1.7% | Scheduled call to discuss strategic shift and unaudited topline sales. |
| Dec 24 | Strategic shift update | Negative | -0.3% | FDA Incomplete Letter for Re-Tain® and pivot toward First Defense®. |
| Nov 13 | Q3 2025 earnings | Positive | -1.3% | Improved margins, return to net income, and higher trailing sales. |
| Nov 06 | Earnings date announcement | Neutral | -3.3% | Announcement of timing for Q3 results and related conference call. |
| Nov 04 | Management changes | Positive | +5.0% | Onboarding of new CEO and CFO joining the Board of Directors. |
Recent news has often been met with modest downside moves, with the exception of the CEO transition, which saw a positive reaction.
Over the last few months, ImmuCell reported improving financial metrics, including higher twelve-month sales and a swing to net income as of September 30, 2025. Management changes in November 2025 brought in a new CEO and added the CFO to the Board. Subsequent updates focused on Q3 results, conference calls, and a strategic shift toward the First Defense® franchise after challenges with Re-Tain®. Today’s preliminary 2025 sales and impairment estimates extend that narrative of refocusing around stronger-performing product lines.
Market Pulse Summary
The stock moved +5.3% in the session following this news. A strong positive reaction aligns with the article’s mix of full-year sales growth and clear strategic refocus. Total 2025 product sales reached $27.6 million with domestic growth and robust Tri-Shield® expansion offsetting weaker Dual-Force® and international trends. However, investors would need to weigh the preliminary $3.6 million in write-downs and the pause in Re-Tain® investment against the potential for sustained First Defense®–driven momentum.
Key Terms
non-cash impairment financial
lyophilization medical
work in process financial
AI-generated analysis. Not financial advice.
PORTLAND, Maine, Jan. 08, 2026 (GLOBE NEWSWIRE) -- ImmuCell Corporation (Nasdaq: ICCC) (“ImmuCell” or the “Company”), an animal health company that develops, manufactures and markets products that improve cattle health and productivity, today announced preliminary, unaudited sales results for the fourth quarter and full year of 2025.
Since the first quarter of 2020, ImmuCell has been providing a preliminary look at its unaudited top line results soon after the close of the quarter and the Company expects to continue providing this prompt, preliminary report on product sales until further notice. The Company will also include a geographic and product line sales breakdown going forward.
Total sales for the three-month period ended December 31, 2025 were
- Domestic sales were
$7.0 million in 2025, an8.7% increase compared to 2024 - International sales were
$0.6 million in 2025, a52.6% decline compared to 2024 - Tri-Shield® sales were
$6.0 million in 2025, a41.3% increase compared to 2024 - Dual-Force® and other sales were
$1.7 million in 2025, a53.0% decline compared to 2024
Total sales for the twelve-month period ended December 31, 2025, were
- Domestic sales were
$24.4 million in 2025, a6.5% increase compared to 2024 - International sales were
$3.3 million in 2025, a9.6% decline compared to 2024 - Tri-Shield® sales were
$19.9 million in 2025, a26.5% increase compared to 2024 - Dual-Force® and other sales were
$7.7 million in 2025, a28.2% decline compared to 2024
“Sales for the quarter exceeded our expectations and show that we continue to make progress rebuilding our market position after a period of supply challenges,” commented Olivier te Boekhorst, President and Chief Executive Officer of ImmuCell. “This was one of our highest sales quarters ever, without tailwinds from catching up on backorders. Our international business showed a decline, largely due to order timing. We are highly encouraged by the strong growth of our Tri-Shield® product line, which reflects the migration from Dual-Force® products and the acquisition of new dairy and beef customers seeking protection for their calves.”
On December 24, 2025, ImmuCell announced a strategic focus on expanding the success of First Defense® after receiving a United States Food and Drug Administration (FDA) Incomplete Letter for its Re-Tain® product. The FDA issued the Incomplete Letter on December 23, 2025, because the Company’s contract manufacturer did not satisfactorily address previously cited inspectional deficiencies. After considering the financial implications of the resulting delays, the Company decided to pause further investment in Re-Tain® and intends to record an approximately
“The deployment of these assets for First Defense® will expand our liquid processing capacity to meet our needs well into the future, but requires capital for repurposing the building which we are currently assessing,” said Timothy C. Fiori, Chief Financial Officer of ImmuCell. “In the meantime, we have implemented manufacturing improvements that increased output of our lyophilization process by more than
During the review of assets and inventory conducted during the three-month period ending December 31, 2025, the Company identified the following additional write-downs, unrelated to Re-Tain®: a
“We use a rigorous and disciplined approach to assessing the best-and-highest value use of our resources and have determined that we expect to achieve a higher return from selling this particular colostrum in the market without further processing,” commented Mr. Fiori. “We are confident in our ability to source and process high quality colostrum going forward to meet demand.”
“The strong sales results and excellent progress in expanding manufacturing output further support our decision to focus on First Defense®,” added Mr. te Boekhorst. “Tri-Shield® growth was outstanding, and we have now started a
| Preliminary, Unaudited Sales Results | ||||||||
| During the Three-Month Periods Ended December 31, | 2025 | 2024 | ($ Decrease) $ Increase | (% Decrease) % Increase | ||||
| Total Product Sales | ( | ( | ||||||
| Domestic Sales | ||||||||
| International Sales | ( | ( | ||||||
| Dual-Force First Defense® Sales | ( | ( | ||||||
| Tri-Shield First Defense® Sales | ||||||||
| During the Twelve-Month Periods Ended December 31, | 2025 | 2024 | $ Increase ($ Decrease) | % Increase (% Decrease) | ||||
| Total Product Sales | ||||||||
| Domestic Sales | ||||||||
| International Sales | ( | ( | ||||||
| Dual-Force First Defense® Sales | ( | ( | ||||||
| Tri-Shield First Defense® Sales | ||||||||
| Preliminary, Unaudited Write-Down and Impairment Impact Estimates During the Three-Month Period Ended December 31, 2025 | ||
| In millions $ | ||
| Re-Tain® property, plant and equipment | ||
| Other property, plant and equipment | ||
| Inventory | ||
| Total | $3.6 | |
Conference Calls:
The Company is planning to host a conference call on Friday, January 9, 2026 at 9:00 AM ET to discuss the unaudited top line results and to review the strategic shift to First Defense® and away from Re-Tain® that was first disclosed on December 24, 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 January 16, 2026, at (855) 669-9658 (toll free) or (412) 317-0088 (international), utilizing replay access code #6043808.
The Company is planning to release its full, unaudited financial results for the quarter and year ended December 31, 2025 after the market closes on Wednesday, February 25, 2026 and is planning to host a conference call on Thursday, February 26, 2026 at 9:00 AM ET to discuss these results. Interested parties can access that 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 March 5, 2026, at (855) 669-9658 (toll free) or (412) 317-0088 (international), utilizing replay access code #2017737.
About ImmuCell:
ImmuCell Corporation's (Nasdaq: ICCC) purpose is to create scientifically proven and practical products that improve cattle health and productivity. ImmuCell manufactures and markets First Defense®, providing Immediate Immunity™ to newborn dairy and beef calves. 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; estimates of anticipated write-offs relating to equipment, inventory or other assets; projections of future financial or operational performance; future demand for our products; growth in acceptance of our First Defense® product line by dairy and beef producers; future prospects for and investments associated with expanding production of First Defense® product line; future prospects for First Defense® versus Re-Tain®; the timing and outcome of prospective future applications for regulatory approvals and future implications of prior regulatory inspection deficiencies relating to facilities of our contract manufacturer; future regulatory requirements relating to our products; 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, competition within our anticipated product markets, customer acceptance of our new and existing products, product performance, alignment between our manufacturing resources and product demand, uncertainty associated with the timing and volume of customer orders, adverse impacts of possible future supply chain disruptions or shortfalls on our operations and customer and supplier relationships, commercial and operational risks relating to our current and planned expansion of production capacity of First Defense®, 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:
Olivier te Boekhorst, President and CEO
Timothy C. Fiori, Chief Financial Officer
ImmuCell Corporation
investor.relations@immucell.com
Joe Diaz, Robert Blum and Joe Dorame
Lytham Partners, LL
iccc@lythampartners.com
FAQ
What were ImmuCell (ICCC) Q4 2025 total product sales and the year-over-year change?
How did ImmuCell's Tri-Shield and Dual-Force product lines perform in Q4 2025?
Why did ImmuCell record impairments in Q4 2025 and how large are they?
What is ImmuCell's strategic response to the Re-Tain FDA outcome for investors?
How material was international sales performance for ImmuCell in Q4 2025?
