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iSpecimen
(NASDAQ:ISPC)
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Rating:42Neutral
Price Target:
$0.86
▼(-46.50% Downside)
Action:Reiterated
Date:10/09/26
The score is held down primarily by very weak fundamentals (sharp revenue decline, negative gross profit, and ongoing cash burn) and a bearish technical trend (below major moving averages with negative MACD). Corporate events modestly improve the outlook via recent financing and strategic initiatives, but the ability to fund operations without further shareholder dilution remains a key risk, and valuation metrics are not supportive due to losses.
Positive Factors
Marketplace Business Model
The platform addresses a recurring research need by connecting institutions holding human biospecimens with organizations seeking samples and related data. This network-oriented model can support repeated transactions across multiple life-science customer groups as research demand evolves.
Negative Factors
Revenue Contraction
A sharp and sustained revenue decline indicates weakening demand, customer activity, or execution across the core business rather than a minor quarterly fluctuation. Continued contraction would reduce operating leverage, constrain investment capacity, and make a durable path to profitability harder.
Read all positive and negative factors
Positive Factors
Negative Factors
Marketplace Business Model
The platform addresses a recurring research need by connecting institutions holding human biospecimens with organizations seeking samples and related data. This network-oriented model can support repeated transactions across multiple life-science customer groups as research demand evolves.
Read all positive factors
iSpecimen (ISPC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.42M
Dividend YieldN/A
Average Volume (3M)814.53K
Price to Earnings (P/E)―
Beta (1Y)1.71
Revenue Growth-92.11%
EPS Growth86.78%
CountryUS
Employees7
SectorHealthcare
Sector Strength45
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)-50.28
Shares Outstanding2,518,590
10 Day Avg. Volume135,199
30 Day Avg. Volume814,528
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.39
Price to Sales (P/S)0.62
P/FCF Ratio-0.28
Enterprise Value/Market Cap-0.20
Enterprise Value/Revenue-1.03
Enterprise Value/Gross Profit0.68
Enterprise Value/Ebitda0.05
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)$37.85M
iSpecimen Business Overview & Revenue Model
Company Description
iSpecimen Inc. operates a sophisticated technological platform that effectively bridges the gap between life science researchers and crucial human biological materials. Its proprietary cloud-based system empowers scientists to efficiently locate a...
iSpecimen Earnings Call Summary
Earnings Call Date:Aug 06, 2024
(Q2-2024)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The earnings call highlighted strong revenue growth and significant operational improvements, particularly with the successful Next Day Quote program. However, challenges such as increased costs and a decrease in specimen count were noted. Despite some challenges, the overall tone was optimistic about future growth.Positive Updates
Significant Revenue Growth
Generated revenues of approximately $2.9 million in Q2 2024, a 76% increase compared to $1.6 million for the same period in the prior year.
Negative Updates
Increased Cost of Revenue
Cost of revenue increased by approximately $570,000 or 67% in Q2 2024 compared to the same period in the prior year.
Read all updates
Q2-2024 Updates
Positive
Negative
Significant Revenue Growth
Generated revenues of approximately $2.9 million in Q2 2024, a 76% increase compared to $1.6 million for the same period in the prior year.
Read all positive updates
Company Guidance
During the second quarter of 2024, iSpecimen reported revenue of approximately $2.9 million, a 76% increase from $1.6 million in the same period the previous year. This growth was driven by a 26% rise in specimen count, from 4,682 to 5,918, and a 39% increase in the average selling price per specimen, from $347 to $484. The company's Next Day Quote program significantly contributed to these results, with 44% of quotes provided under this program, up from 38% in Q4 2023. Additionally, 58% of these quotes converted to purchase orders in the first half of 2024. iSpecimen also achieved a 59% reduction in cash burn from $7.1 million in H1 2023 to $2.9 million in H1 2024. They focused on enhancing supplier quality, reducing their network from 240 to 105 suppliers while improving capabilities. Cost of revenue increased by 67% to $1.4 million, aligned with the growth in specimen count and average cost per specimen. The company reduced its cash spend for technology by 64%, from $1.5 million to $541,000, for Q2 2024. Overall, iSpecimen continues to refine operations and expects sustained success in the latter half of 2024.iSpecimen Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
48
Neutral
Cash Flow
20
Very Negative
| Breakdown | TTM | Mar 2026 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 466.30K | 1.93M | 9.29M | 9.93M | 10.40M | 11.14M |
| Gross Profit | -706.30K | 24.11K | 3.99M | 5.11M | 5.65M | 5.89M |
| EBITDA | -10.25M | -8.75M | -10.38M | -8.75M | -8.80M | -5.86M |
| Net Income | -11.42M | -10.49M | -12.50M | -11.10M | -10.25M | -8.96M |
Balance Sheet | ||||||
| Total Assets | 7.39M | 9.53M | 9.35M | 15.82M | 24.62M | 35.72M |
| Cash, Cash Equivalents and Short-Term Investments | 4.41M | 6.88M | 1.88M | 5.01M | 15.31M | 27.74M |
| Total Debt | 240.90K | 268.80K | 312.17K | 196.24K | 185.85K | 3.42M |
| Total Liabilities | 5.66M | 6.44M | 6.04M | 6.08M | 4.31M | 5.93M |
| Stockholders Equity | 1.74M | 3.09M | 3.31M | 9.74M | 20.31M | 29.79M |
Cash Flow | ||||||
| Free Cash Flow | -8.00M | -4.24M | -8.30M | -10.55M | -9.01M | -11.71M |
| Operating Cash Flow | -7.00M | -4.24M | -8.26M | -5.81M | -5.82M | -10.67M |
| Investing Cash Flow | -1.00M | -1.00M | 1.98M | -7.23M | -3.19M | -1.04M |
| Financing Cash Flow | 12.53M | 10.24M | 5.82M | 70.89K | -3.42M | 38.75M |
iSpecimen Technical Analysis
Negative
1.60
Price Trends
1.43
Negative
1.95
Negative
5.27
Negative
Market Momentum
-0.14
Negative
26.39
Positive
12.13
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ISPC, the sentiment is Negative. The current price of 1.6 is above the 20-day moving average (MA) of 1.08, above the 50-day MA of 1.43, and below the 200-day MA of 5.27, indicating a bearish trend. The MACD of -0.14 indicates Negative momentum. The RSI at 26.39 is Positive, neither overbought nor oversold. The STOCH value of 12.13 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ISPC.
iSpecimen Risk Analysis
iSpecimen disclosed 74 risk factors in its most recent earnings report. iSpecimen reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
iSpecimen Peers Comparison
UnderperformOutperform
Sector (51)
ISPC
iSpecimen
0.89
-29.78
-97.09%
INBS
Intelligent Bio Solutions
1.73
-8.47
-83.04%
BGLC
BioNexus Gene Lab Corp
1.19
-4.00
-77.07%
BIAF
bioAffinity Technologies, Inc.
3.57
-36.03
-90.98%
iSpecimen Corporate Events
Business Operations and StrategyM&A TransactionsPrivate Placements and FinancingShareholder MeetingsStock Split
iSpecimen Shareholders Approve Key Financing and Acquisition Actions
Positive
Oct 9, 2026
On October 9, 2026, iSpecimen Inc. held a special meeting of stockholders at which a quorum representing 51.1% of outstanding shares voted on several capital and strategic proposals. Shareholders approved the issuance of common stock underlying pr...
Delistings and Listing ChangesPrivate Placements and FinancingRegulatory Filings and Compliance
iSpecimen Granted Nasdaq Extension to Regain Compliance
Neutral
Sep 10, 2026
On September 8, 2026, iSpecimen received notice from Nasdaq granting an extension until November 25, 2026 to regain compliance with Nasdaq Listing Rule 5550(b), after being notified of a deficiency on May 29, 2026. The Rule requires minimum thresh...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
iSpecimen to Acquire Foldlab AI Disease Analytics
Positive
Sep 4, 2026
On September 4, 2026, iSpecimen Inc. agreed to acquire AI software, models, source code, data rights and related IP from Foldlab AI Ltd. for a total consideration of $4.5 million, split between $2 million in cash and $2.5 million in common stock. ...
Business Operations and StrategyRegulatory Filings and Compliance
iSpecimen Engages IR Agency for Investor Marketing
Neutral
Aug 14, 2026
On August 12, 2026, iSpecimen Inc. entered into a three-month Consulting Agreement with IR Agency LLC to provide non-exclusive marketing and advertising services aimed at communicating information about the company to the financial community. The ...
Business Operations and StrategyFinancial DisclosuresLegal Proceedings
iSpecimen Settles Arbitration and Terminates WestPark Agreements
Neutral
Aug 11, 2026
On August 6, 2026, iSpecimen entered into a Settlement Agreement and Mutual Release with WestPark Capital to resolve an arbitration stemming from investment banking engagement agreements related to WestPark’s role as underwriter for iSpecime...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
iSpecimen Completes $5 Million Public Offering
Positive
Aug 7, 2026
On August 5, 2026, iSpecimen Inc. entered into agreements with E.F. Hutton Co. and participating investors for a “reasonable best efforts” public offering comprising 996,231 shares of common stock and pre-funded warrants to purchase u...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.