Quarterly ResultMay 18, 2026, 06:07 AM
iSpecimen Q1 Revenue Plunges 85% to $156K; Net Loss Widens; Going Concern
AI Summary
iSpecimen Inc. reported a significant decline in Q1 2026 revenue to $156,009, an 85.2% decrease from $1,057,510 in Q1 2025, while its net loss widened by 37.2% to $2.28 million. The company also disclosed a negative working capital of $2.12 million and an accumulated deficit of $84.63 million as of March 31, 2026, raising substantial doubt about its ability to continue as a going concern. Management is implementing cost-cutting measures, including workforce reductions, and plans to generate additional revenue, but cannot assure success.
Key Highlights
- Q1 2026 revenue decreased 85.2% to $156,009 from $1,057,510 in Q1 2025.
- Net loss widened 37.2% to $2.28 million in Q1 2026 from $1.66 million in Q1 2025.
- Net loss per share was $(6.66) in Q1 2026, compared to $(28.55) in Q1 2025 (post-split).
- Cash and cash equivalents declined 59% to $2.82 million as of March 31, 2026.
- Reported negative working capital of $2.12 million and accumulated deficit of $84.63 million.
- Net cash used in operating activities increased 206.8% to $3.36 million in Q1 2026.
- Implemented a 1-for-40 reverse stock split on April 27, 2026.
- Capitalized $700,000 for AI-powered Inventory Agent, launched in March 2026.
Price Impact
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