Mon, May 19, 8:47 PM (24 days ago)
**iSpecimen Inc. (ISPC) Q1 2025 Financial Summary** **Financial Health:** - **Cash Position:** $782,563 (down 58% from $1,878,408 in Q4 2024). - **Working Capital:** Negative $3,391,716. - **Accumulated Deficit:** $73,521,013. - **Stockholders' Equity:** $1,668,513 (down 50% from $3,311,008 in Q4 2024). **Performance Metrics:** - **Revenue:** $1,057,510 (down 54% from $2,289,993 in Q1 2024). - **Net Loss:** $1,658,396 (improved by 43% from $2,902,117 in Q1 2024). - **Operating Expenses:** $2,695,899 (down 49% from $5,290,513 in Q1 2024). **Profit Margins:** - **Gross Margin:** Negative due to high cost of revenue. - **Operating Margin:** Negative due to high operating expenses. **Cash Flow:** - **Operating Cash Flow:** Negative $1,095,845 (improved by 47% from negative $2,072,363 in Q1 2024). - **Investing Cash Flow:** $0 (down 100% from $1,937,446 in Q1 2024). - **Financing Cash Flow:** $0 (improved from negative $118,858 in Q1 2024). **Earnings Changes:** - **Revenue Decrease:** Due to a 56% drop in specimen count, partially offset by a 5% increase in average selling price per specimen. - **Expense Reductions:** Significant decreases in technology, sales and marketing, supply development, fulfillment, and general and administrative expenses. **Quarterly Performance Discussion:** - **Revenue Recognition Change:** Shifted to recognizing revenue only upon specimen delivery, affecting Q1 2025 specimen count. - **Cost Reduction Initiatives:** Ongoing efforts to cut costs and streamline operations, resulting in significant reductions in workforce and technology expenditures. - **Capital Raising:** Engaged in debt and equity financing to support operations and potential acquisitions. **Trends and Uncertainties:** - **Market Conditions:** Economic slowdown and geopolitical uncertainties (e.g., Russian-Ukrainian war) impacting operations and supply chain. - **Sales Strategy:** Implementing new sales approaches and marketing campaigns to drive revenue growth. - **Operational Improvements:** Enhancing internal processes and supplier network to increase efficiency and conversion ratios. **Future Operations Impact:** - **Going Concern:** Substantial doubt about the ability to continue as a going concern due to recurring losses and negative working capital. - **Mitigation Plans:** Focus on generating additional revenues, deferring projects, and eliminating future operating expenses. **Ticker:** ISPC **Note:** Amounts are in thousands, 000s.