ImmuCell Corporation (ICCC) Income Statement
ICCC 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsICCC revenue and net income
Where ICCC's revenue goes
2025Each bar shows an amount and its share of revenue. ICCC kept −3.8% of revenue as net income.
ICCC profit margins
ICCC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +4.3% | +14.2% | +12.5% | +10.5% |
| Gross profit | +44.1% | +14.4% | +10.8% | +6.2% |
| Operating income | — | — | — | −2.5% |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ICCC quarterly EPS vs estimates
Next report: November 12, 2026.
ICCC income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $27.6M | $26.5M | $17.5M | $18.6M | $19.2M | $15.3M | $13.7M | $11.0M | $10.4M | $9.5M |
| Cost of revenue | $16.2M | $18.6M | $13.1M | $10.9M | $10.6M | $8.5M | $7.0M | $5.8M | $5.2M | $4.1M |
| Gross profit | $11.4M | $7.9M | $4.4M | $7.6M | $8.7M | $6.9M | $6.7M | $5.2M | $5.2M | $5.4M |
| Research & development | $3.0M | $3.9M | $4.4M | $4.5M | $4.2M | $4.4M | $3.7M | $3.5M | $2.0M | $1.2M |
| Sales, general & admin | $6.8M | $5.7M | $5.2M | $2.3M | $4.2M | $1.7M | $1.7M | $3.8M | $1.5M | $3.3M |
| Total operating expenses | $9.8M | $9.6M | $10.1M | $9.9M | $8.4M | $8.2M | $7.7M | $7.3M | $5.5M | $4.5M |
| Operating income | $1.6M | −$1.6M | −$5.7M | −$2.3M | $257,385 | −$1.4M | −$954,000 | −$1.4M | −$243,000 | $890,204 |
| Interest income | $158,709 | $77,702 | $143,850 | $153,100 | $18,810 | $27,440 | $118,283 | $14,301 | $16,909 | $54,662 |
| Interest expense | $439,036 | $568,725 | $452,979 | $340,878 | $314,359 | $412,687 | $431,788 | $427,782 | $218,571 | $161,697 |
| Income before taxes | −$1.0M | −$2.1M | −$5.8M | −$2.5M | −$69,127 | −$1.0M | −$1.3M | −$1.9M | −$438,000 | $758,322 |
| Income taxes | $11,570 | $10,056 | $4,627 | $8,000 | $9,165 | −$10,000 | $28,000 | $462,000 | −$270,000 | $249,874 |
| Net income | −$1.0M | −$2.2M | −$5.8M | −$2.5M | −$78,292 | −$1.0M | −$1.3M | −$2.3M | −$168,000 | $508,448 |
| EBITDA | $2.1M | $1.1M | −$2.5M | $188,583 | $2.7M | $967,283 | $1.3M | $88,442 | $661,435 | $1.7M |
| EPS (diluted) | −$0.11 | −$0.28 | −$0.39 | −$0.40 | −$0.03 | −$0.14 | −$0.19 | −$0.43 | −$0.05 | $0.13 |
| Gross margin | 41.4% | 30.0% | 25.2% | 41.2% | 45.0% | 44.7% | 49.1% | 47.3% | 50.1% | 56.8% |
| Operating margin | 6.0% | −6.2% | −32.9% | −12.4% | 1.3% | −9.0% | −7.0% | −13.2% | −2.3% | 9.3% |
| Net margin | −3.8% | −8.1% | −33.1% | −13.4% | −0.4% | −6.7% | −9.4% | −21.1% | −1.6% | 5.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.2M | $10.4M | $7.6M | $5.5M | $6.4M | $8.1M | $7.8M | $6.0M | $5.5M | $7.3M | $5.1M | $5.4M |
| Cost of revenue | $4.7M | $5.7M | $4.7M | $3.1M | $3.6M | $4.7M | $4.9M | $4.4M | $4.2M | $5.0M | $3.8M | $4.1M |
| Gross profit | $2.4M | $4.7M | $2.9M | $2.4M | $2.8M | $3.4M | $2.8M | $1.6M | $1.2M | $2.3M | $1.3M | $1.3M |
| Research & development | $119,652 | $317,688 | $758,864 | $694,311 | $831,858 | $756,847 | $819,393 | $786,136 | $1.0M | $1.3M | $1.1M | $1.1M |
| Sales, general & admin | $1.3M | $2.4M | $2.2M | $1.6M | $1.4M | $2.3M | $1.4M | $1.4M | $1.6M | $1.3M | $1.2M | $1.3M |
| Total operating expenses | $502,288 | $2.7M | $3.0M | $2.3M | $2.2M | $6.9M | $2.2M | $2.2M | $2.6M | $2.6M | $2.3M | $2.5M |
| Operating income | $1.9M | $2.0M | −$57,956 | $20,075 | $569,562 | $1.1M | $621,395 | −$574,894 | −$1.4M | −$300,050 | −$1.0M | −$1.2M |
| Interest income | $65,343 | $44,367 | $31,659 | $41,468 | $48,113 | $37,469 | $36,226 | $18,685 | $13,264 | $9,527 | $17,436 | $23,696 |
| Interest expense | $95,667 | $99,675 | $102,988 | $134,516 | $124,795 | $117,122 | $125,389 | $133,336 | $142,386 | $146,003 | $164,946 | $144,616 |
| Income before taxes | $1.9M | $2.0M | −$2.8M | −$135,292 | $503,784 | $1.4M | $520,591 | −$700,350 | −$1.5M | −$436,528 | −$1.1M | −$939,771 |
| Income taxes | $45,950 | $12,522 | $3,306 | $4,456 | $1,904 | $1,904 | $6,036 | $1,340 | $1,340 | $1,340 | $2,000 | $229 |
| Net income | $1.8M | $1.9M | −$2.8M | −$139,748 | $501,880 | $1.4M | $514,555 | −$701,690 | −$1.5M | −$437,868 | −$1.1M | −$940,000 |
| EBITDA | $2.4M | $2.6M | −$2.0M | $543,796 | $1.3M | $1.8M | $1.3M | $100,228 | −$716,945 | $376,728 | −$318,000 | −$94,739 |
| EPS (diluted) | $0.20 | $0.21 | −$0.31 | −$0.02 | $0.06 | $0.16 | $0.06 | −$0.09 | −$0.20 | −$0.06 | −$0.15 | −$0.12 |
| Gross margin | 33.9% | 45.0% | 38.2% | 42.9% | 43.7% | 41.6% | 36.5% | 26.3% | 22.5% | 31.6% | 24.7% | 23.5% |
| Operating margin | 26.9% | 19.0% | −0.8% | 0.4% | 8.8% | 13.9% | 8.0% | −9.6% | −25.3% | −4.1% | −19.7% | −21.9% |
| Net margin | 25.5% | 18.7% | −37.4% | −2.5% | 7.8% | 17.9% | 6.6% | −11.7% | −28.0% | −6.0% | −22.4% | −17.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ICCC's financial statements (latest annual report filed March 30, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ICCC financial results
In fiscal year 2025 (ended December 31, 2025), ImmuCell reported revenue of $27.6 million, up 4.3% from the year before. It had a net loss of $1.0 million, a net profit margin of −3.8%. Diluted earnings per share came to −$0.11. Over five years revenue grew at an average rate of 12.5% a year.
See the ICCC stock overview for the latest quote and news, or the ICCC chart for price history and technical indicators.
ICCC income statement FAQ
What is ImmuCell's annual revenue?
ImmuCell reported total revenue of $27.6 million for fiscal year 2025, which ended on December 31, 2025. That was up 4.3% from $26.5 million the previous year.
Is ImmuCell profitable?
No. ImmuCell reported a net loss of $1.0 million in fiscal 2025, a net profit margin of −3.8%; its operating margin was 6.0%.
What is ImmuCell's gross margin?
ImmuCell's gross margin was 41.4% in fiscal 2025: for every $100 of revenue, ImmuCell kept $41 after the direct cost of its products and services.
How much does ImmuCell spend on research and development?
ImmuCell spent $3.0 million on research and development in fiscal 2025, 11.0% of revenue.
How fast is ImmuCell growing?
Revenue grew 12.5% a year on average over the last five fiscal years, from $15.3 million to $27.6 million.
What are ImmuCell's earnings per share?
ImmuCell earned $-0.11 per diluted share in fiscal 2025, compared with $-0.28 a year earlier.
When will ImmuCell report its next earnings?
ImmuCell is expected to report results for the quarter ending September 30, 2026 on November 12, 2026 after the market closes.
When does ImmuCell's fiscal year end?
ImmuCell's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 30, 2026.