Every 10-Q that Ispecimen Inc. (ISPC) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow ISPC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ISPC filings page.
iSpecimen Inc. reported a steep decline in activity for the six months ended June 30, 2026, with revenue of $307,949 compared with $1,770,645 a year earlier and a net loss of $3,638,032 versus $2,705,639. For the quarter, revenue was $151,940 and the operating loss was $1,362,986. Cash and cash equivalents were $4,414,364, but the company had negative working capital of $992,538 and an accumulated deficit of $85,988,181.
The company disclosed that these conditions raise substantial doubt about its ability to continue as a going concern, despite cost-cutting measures that have significantly reduced compensation costs and a shift of technology spend into internally developed software, including its AI-powered Inventory Agent. Operations used $4,051,471 of cash in the first half, partly offset by a $2,500,000 May 2026 private placement and a subsequent $5,000,000 August 2026 offering, as iSpecimen continues to depend on external financing while pursuing growth of its biospecimen marketplace.
iSpecimen Inc. reported a challenging quarter for the period ended March 31, 2026. Revenue fell to $156,009 from $1,057,510 a year earlier, while total operating expenses were essentially flat at $2,694,412, leading to a larger operating loss of $2,538,403. Net loss widened to $2,275,221 compared with $1,658,396 in the prior-year quarter.
Cash and cash equivalents declined to $2,818,989 from $6,880,835 at year-end, driven by operating cash outflows of $3,361,846 and $700,000 invested in internally developed software. The company ended the quarter with total assets of $6,609,658, liabilities of $5,795,620, and stockholders’ equity of $814,038.
The filing states there is substantial doubt about iSpecimen’s ability to continue as a going concern, citing negative working capital of $2,115,634, an accumulated deficit of $84,625,370, and significant accounts payable and accrued expenses. Management has reduced workforce and technology spending by roughly 70% and 36%, respectively, versus the prior-year quarter and continues to pursue cost cuts and revenue growth.
The company executed or planned multiple financing steps, including prior underwritten and private placements, issuance and partial conversion of Series C preferred stock, and a subsequent May 2026 equity raise of 488,281 common shares or pre-funded warrants at $5.12 per share. It also implemented reverse stock splits of 1-for-20 in 2024 and 1-for-40 effective April 27, 2026 to maintain Nasdaq listing compliance. The quarter included ongoing sales tax remediation efforts, resolution of some legal matters through settlements, and continuing litigation with several counterparties.
iSpecimen Inc. reported weak results for the quarter ended September 30, 2025, with revenue of $106,592, down sharply from $2,661,936 a year earlier. Operating expenses of $2.94 million drove a quarterly net loss of $2,780,648 and a nine-month loss of $5,486,287, though losses narrowed versus 2024. Cash and cash equivalents were $2,782,758, against negative working capital of $2,096,503 and an accumulated deficit of $77,348,904, leading management to state that there is substantial doubt about the company’s ability to continue as a going concern.
To bolster liquidity, iSpecimen completed a $3,999,574 underwritten offering and a $1,749,998 private placement in 2025, plus prior ATM sales. The company has aggressively cut compensation and technology costs versus 2023–2024, but remains heavily loss-making. Legal matters include a $215,000 arbitration settlement with its former CIO and several ongoing disputes, including litigation with a technology vendor that briefly shut down the iSpecimen Marketplace and led to a court order requiring deposits of 15% of revenue into a dedicated account up to $420,000.