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Ispecimen Inc (ISPC)
:ISPC
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iSpecimen
(NASDAQ:ISPC)
40Underperform
iSpecimen (ISPC) vs. S&P 500 (SPY)
Market Cap
$1.10M
Dividend YieldN/A
Average Volume (3M)947.77K
Price to Earnings (P/E)―
Beta (1Y)-0.34
Revenue Growth0.74%
EPS Growth16.31%
CountryUS
Employees53
SectorHealthcare
Sector Strength77
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)-18.93
Shares Outstanding962,637
10 Day Avg. Volume121,743
30 Day Avg. Volume947,772
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.13
Price to Cash Flow (P/CF)-0.30
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
iSpecimen Business Overview & Revenue Model
Company DescriptioniSpecimen (ISPC) operates as a leading online marketplace that connects researchers with human biospecimens from a diverse network of healthcare providers. By leveraging its proprietary technology platform, the company simplifies the process of finding and obtaining samples required for medical research, diagnostics, and therapeutic development. Its platform facilitates the acquisition of a wide range of specimens, including tissues, biofluids, and more, catering to the needs of biopharmaceutical companies, academic institutions, and other research entities.
How the Company Makes MoneyiSpecimen makes money primarily through its online platform, which facilitates transactions between researchers and healthcare providers. The company earns revenue by charging fees for access to its marketplace and for the management of specimen procurement. These fees can be structured as transaction-based fees or subscription models, depending on the agreement with the client. Additionally, iSpecimen may generate revenue by offering value-added services such as data analytics, specimen processing, and logistics support. Key partnerships with healthcare institutions and research entities enhance its service offerings and expand its network, contributing to its overall revenue growth.
iSpecimen Financial Statement Overview
Summary
iSpecimen is facing significant financial challenges with consistent net losses and negative cash flows. While there are some improvements in operational margins, financial stability remains a concern due to historical negative equity and declining revenues. The company needs to improve its revenue trajectory and cash flow management to enhance its financial health.Income Statement
The company shows declining revenue with a negative revenue growth rate of -5.13% from the previous year. Gross profit margin is relatively low at 31.22% TTM, and the net profit margin is negative, reflecting consistent losses. There is an improvement in EBITDA margin from -91.69% to -69.47% TTM, indicating some operational efficiency gains.35
Negative
Balance Sheet
The debt-to-equity ratio is 0.25 TTM, suggesting manageable leverage. However, the company has negative equity in past years, indicating financial instability. The current equity ratio is 41.86% TTM, which is a positive sign of asset financing through equity, but return on equity is negative due to net losses.45
Neutral
Cash Flow
The company has a negative free cash flow growth rate of -48.81% TTM, which is concerning. Operating cash flow to net income ratio of 0.46 suggests moderate conversion of net income to cash. Free cash flow to net income ratio is unfavorable due to negative values, highlighting cash constraints.40
Negative
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 10.39M | 9.93M | 10.40M | 11.14M | 8.18M | 4.30M | Gross Profit |
| 3.24M | 5.11M | 5.65M | 5.89M | 4.60M | 2.17M | EBIT |
| -9.76M | -11.17M | -10.19M | -5.93M | -2.41M | -3.88M | EBITDA |
| -7.22M | -9.10M | -8.80M | -5.86M | -1.74M | -2.52M | Net Income Common Stockholders |
| -9.52M | -11.10M | -9.04M | -10.02M | -6.76M | -4.73M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 53.89K | 5.01M | 15.31M | 27.74M | 695.91K | 53.89K | Total Assets |
| 4.21M | 15.82M | 24.62M | 35.72M | 6.21M | 4.21M | Total Debt |
| 10.59M | 196.24K | 185.85K | 3.42M | 12.77M | 10.59M | Net Debt |
| 10.54M | -2.15M | -15.12M | -24.32M | 12.07M | 10.54M | Total Liabilities |
| 26.93M | 6.08M | 4.31M | 5.93M | 33.49M | 26.93M | Stockholders Equity |
| -22.72M | 9.74M | 20.31M | 29.79M | -27.28M | -22.72M |
| Cash Flow | Free Cash Flow | ||||
| -6.02M | -10.55M | -9.01M | -11.71M | -1.39M | -4.16M | Operating Cash Flow |
| -4.35M | -5.81M | -5.82M | -10.67M | -288.38K | -2.68M | Investing Cash Flow |
| 1.33M | -7.23M | -3.19M | -1.04M | -1.10M | -1.48M | Financing Cash Flow |
| 2.05M | 70.89K | -3.42M | 38.75M | 2.03M | 3.08M |
iSpecimen Technical Analysis
Neutral
1.14
Price Trends
1.62
Negative
2.52
Negative
3.92
Negative
Market Momentum
-0.16
Negative
43.49
Neutral
30.63
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ISPC, the sentiment is Neutral. The current price of 1.14 is below the 20-day moving average (MA) of 1.28, below the 50-day MA of 1.62, and below the 200-day MA of 3.92, indicating a neutral trend. The MACD of -0.16 indicates Negative momentum. The RSI at 43.49 is Neutral, neither overbought nor oversold. The STOCH value of 30.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ISPC.
iSpecimen Risk Analysis
iSpecimen disclosed 72 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
Overall Rating
UnderperformOutperform
Sector (48)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
48 Neutral | $6.35B | 1.19 | -46.87% | 2.63% | 17.16% | 1.34% | |
45 Neutral | $1.32B | ― | -38.58% | ― | -4.21% | -544.81% | |
40 Neutral | $574.53M | ― | -50.50% | ― | ― | 4.28% | |
40 Underperform | $1.10M | ― | -109.34% | ― | 0.74% | 16.31% | |
34 Underperform | $48.65M | ― | -1546.58% | ― | 47.66% | -5.04% | |
34 Underperform | $59.28M | ― | 657.30% | ― | 398.55% | 8.27% | |
31 Underperform | $2.31M | ― | 367.65% | ― | -100.00% | 69.07% |
* Healthcare Sector Average
Performance Comparison
ISPC
iSpecimen
1.33
-2.88
-68.41%
QLGN
Qualigen Therapeutics
3.14
-16.80
-84.25%
VRCA
Verrica Pharmaceuticals
0.64
-6.41
-90.92%
REPL
Replimune Group
7.49
0.21
2.88%
ZIVO
Zivo Bioscience
16.00
8.40
110.53%
SDGR
Schrodinger
18.21
-10.29
-36.11%
iSpecimen Earnings Call Summary
Earnings Call Date: Mar 12, 2025 | % Change Since: -12.31% | Next Earnings Date: May 13, 2025
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.Highlights
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.
Reduction in Cash Burn
Reduced cash burn from approximately $7.1 million in the first half of 2023 to $2.9 million for the first half of 2024, a 59% decrease.
Next Day Quote Program Success
The Next Day Quote program has been successful, with 58% of quotes converting to purchase orders in the first half of 2024.
Improvement in Supplier Network
Reduced the supplier network from 240 in 2023 to 105, while improving capabilities and quality.
New Leadership in Sales
Appointed Brielan Smiechowski as Senior Vice President of Sales and Business Development, bringing over 15 years of experience.
Lowlights
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.
Decrease in Specimen Count
Specimen count decreased by 16% from 13,311 specimens in the first half of 2023 to 11,159 specimens in the first half of 2024.
Cash and Securities Decrease
Cash and available-for-sale securities decreased by approximately $2.9 million from December 31, 2023, to June 30, 2024.
Challenging Macro Environment
Customers remain cautious with investments due to a tough macro environment, affecting project prioritization.
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 Corporate Events
Executive/Board ChangesBusiness Operations and Strategy
iSpecimen Strengthens Leadership and Expands Cancer Research Focus
Positive
Dec 20, 2024
iSpecimen Inc. has appointed Yuying Liang as the Chief Financial Officer, enhancing its financial leadership with Liang’s extensive experience in corporate accounting and strategic guidance. The company is expanding its focus on procuring high-demand cancer biospecimens to support cancer research, aiming to form new partnerships and leverage a data-driven approach to meet the growing demand, positioning itself as a preferred provider in the industry.
Executive/Board ChangesBusiness Operations and Strategy
iSpecimen Appoints Robert Lim as New CEO
Positive
Dec 12, 2024
iSpecimen Inc. has appointed Robert Lim as its new CEO and member of the Board of Directors, effective December 9, 2024. Lim brings extensive experience in the pharmaceutical and biotechnology industries, alongside a strong legal and marketing background, positioning him to lead iSpecimen in achieving its strategic objectives and enhancing profitability. This leadership change is expected to impact the company’s operations and industry positioning, potentially driving sustainable growth and uncovering untapped business opportunities.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.