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iSpecimen (ISPC)
NASDAQ:ISPC
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iSpecimen (ISPC) AI Stock Analysis

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ISPC

iSpecimen

(NASDAQ:ISPC)

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Underperform 39 (OpenAI - 4o)
Rating:39Underperform
Price Target:
$0.40
▼(-11.78% Downside)
iSpecimen's overall stock score is primarily impacted by its weak financial performance and poor valuation metrics. The company's declining revenues, negative profitability, and cash flow issues are significant concerns. Additionally, bearish technical indicators and a lack of earnings or dividends further contribute to the low score. Strategic improvements are necessary to enhance the company's financial health and market perception.
Positive Factors
Strategic Partnerships
These partnerships enhance access to diverse biospecimens, supporting revenue growth and strengthening the company's market position.
Balance Sheet Improvement
Reduced debt levels and improved equity ratios indicate better financial health, providing more stability and potential for future growth.
Cash Flow Improvement
Although still negative, the improvement in free cash flow suggests progress in liquidity management, crucial for long-term sustainability.
Negative Factors
Revenue Decline
Continued revenue decline indicates challenges in market demand or competitive positioning, affecting long-term growth prospects.
Negative Profit Margins
Persistent negative margins highlight operational inefficiencies, which can hinder profitability and long-term financial health.
Cash Flow Challenges
Ongoing cash flow issues limit the company's ability to invest in growth opportunities and maintain financial flexibility.

iSpecimen (ISPC) vs. SPDR S&P 500 ETF (SPY)

iSpecimen Business Overview & Revenue Model

Company DescriptioniSpecimen (ISPC) is a technology-driven company that specializes in the procurement and supply of human biospecimens for research and clinical purposes. Operating at the intersection of healthcare and biotechnology, iSpecimen provides a platform that connects researchers and biopharma companies with a diverse and extensive network of biospecimen providers. The company focuses on accelerating medical research by offering a wide range of biospecimens, including blood, tissue, and urine samples, along with associated data, to facilitate studies in areas such as drug development, diagnostics, and personalized medicine.
How the Company Makes MoneyiSpecimen generates revenue primarily through the sale of human biospecimens and associated data to researchers, pharmaceutical companies, and academic institutions. The company's revenue model is built on fees charged for the procurement and delivery of biospecimens, which can vary based on the type and quantity of samples requested. Key revenue streams include transactions for individual biospecimen orders, long-term supply agreements with biopharma companies, and collaborative projects that may involve custom sample collection services. Additionally, iSpecimen has established strategic partnerships with hospitals, clinics, and biobanks, enhancing its access to a wide array of biospecimens and driving growth in its revenue through increased sample availability and diversity.

iSpecimen Earnings Call Summary

Earnings Call Date:Aug 06, 2024
(Q2-2024)
|
% Change Since: |
Next Earnings Date:Oct 30, 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.
Q2-2024 Updates
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.
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.
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.
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 Financial Statement Overview

Summary
iSpecimen faces significant financial challenges, including declining revenues, negative profitability, and cash flow issues. Despite some improvements in the balance sheet with reduced debt levels and improved equity ratios, the company's financial health remains weak, with persistent net losses and cash flow deficits. Strategic improvements are essential to stabilize and enhance financial performance.
Income Statement
30
Negative
The company has shown a declining trend in revenue and profitability. Gross Profit Margin decreased from 52.8% in 2020 to 42.9% in 2024. Net Profit Margins remain negative, with worsening EBIT and EBITDA margins, indicating operational inefficiency. Revenue has been declining from $11.13 million in 2021 to $9.29 million in 2024, showcasing negative growth.
Balance Sheet
45
Neutral
The balance sheet reflects a relatively high level of debt with a Debt-to-Equity Ratio of 0.09 in 2024, reduced from previous years. However, the negative equity in prior years raises concerns about financial stability. The equity ratio improved to 35.4% in 2024 from negative figures in earlier years, indicating some improvement in financial health.
Cash Flow
40
Negative
The company has consistently negative operating and free cash flows, with a significant cash burn. The operating cash flow to net income ratio is negative, highlighting issues in converting income into cash. Although free cash flow improved slightly in 2024 compared to previous years, it remains negative, indicating continued challenges in liquidity.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue3.35M9.29M9.93M10.40M11.14M8.18M
Gross Profit722.54K3.99M5.11M5.65M5.89M4.60M
EBITDA-9.47M-12.73M-8.80M-8.80M-5.86M-1.74M
Net Income-11.53M-12.50M-11.10M-10.25M-8.96M-4.65M
Balance Sheet
Total Assets9.00M9.35M15.82M24.62M35.72M6.21M
Cash, Cash Equivalents and Short-Term Investments2.78M1.88M5.01M15.31M27.74M695.91K
Total Debt281.44K312.17K196.24K185.85K3.42M12.77M
Total Liabilities5.92M6.04M6.08M4.31M5.93M33.49M
Stockholders Equity3.07M3.31M9.74M20.31M29.79M-27.28M
Cash Flow
Free Cash Flow-6.79M-8.30M-10.55M-9.01M-11.71M-1.39M
Operating Cash Flow-6.76M-8.26M-5.81M-5.82M-10.67M-288.38K
Investing Cash Flow-1.07M1.98M-7.23M-3.19M-1.04M-1.10M
Financing Cash Flow8.86M5.82M70.89K-3.42M38.75M2.03M

iSpecimen Technical Analysis

Technical Analysis Sentiment
Negative
Last Price0.45
Price Trends
50DMA
0.83
Negative
100DMA
1.00
Negative
200DMA
1.13
Negative
Market Momentum
MACD
-0.11
Negative
RSI
31.93
Neutral
STOCH
23.57
Neutral
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 0.45 is below the 20-day moving average (MA) of 0.57, below the 50-day MA of 0.83, and below the 200-day MA of 1.13, indicating a bearish trend. The MACD of -0.11 indicates Negative momentum. The RSI at 31.93 is Neutral, neither overbought nor oversold. The STOCH value of 23.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
51
Neutral
$7.86B-0.30-43.30%2.27%22.53%-2.21%
41
Neutral
$7.52M
39
Underperform
$6.36M-0.07-296.20%-67.73%58.35%
39
Underperform
$9.40M-0.10-245.18%-27.66%13.18%
37
Underperform
$6.12M-223.45%3.26%65.96%
26
Underperform
$9.13M
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
ISPC
iSpecimen
0.45
-3.43
-88.40%
CHEK
Check-Cap
1.65
0.83
101.22%
INBS
Intelligent Bio Solutions
0.65
-1.01
-60.84%
BGLC
BioNexus Gene Lab Corp
4.43
1.22
38.01%
MYNZ
Mainz Biomed B.V.
1.13
-6.19
-84.56%
BIAF
bioAffinity Technologies, Inc.
1.37
-30.13
-95.65%

iSpecimen Corporate Events

iSpecimen Delays Q3 2025 10-Q Filing
Nov 14, 2025

iSpecimen Inc. has announced a delay in filing its Form 10-Q (Quarter Report) for the financial period ending September 30, 2025. The company cites that filing within the prescribed 40-day period would require unreasonable effort or expense, prompting them to seek a five-day extension under Rule 12b-25. iSpecimen expects to file the report within this extended timeline. The company does not anticipate any significant changes in its financial results compared to the same period last year. Forward-looking statements in the notification highlight potential risks and uncertainties that could affect these expectations. The notification was signed by Katharyn Field, the Chief Executive Officer, who assures ongoing compliance efforts.

The most recent analyst rating on (ISPC) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on iSpecimen stock, see the ISPC Stock Forecast page.

Executive/Board Changes
iSpecimen Appoints Katharyn Field as New CEO
Neutral
Nov 7, 2025

On November 7, 2025, iSpecimen Inc. announced significant leadership changes with the appointment of Ms. Katharyn Field as Chief Executive Officer, Secretary, and Treasurer, succeeding Mr. Robert Bradley Lim who resigned from these roles and the Board. Ms. Field, who has been serving as President since February 2025, brings extensive experience in strategy consulting and executive leadership, particularly in the cannabis industry. Additionally, Mr. Arphing (Tommy) Lee was appointed as an independent director, joining the Audit and Nominating and Corporate Governance Committees. The company emphasized that these leadership changes are not expected to disrupt operations, and the Board remains focused on executing the company’s objectives.

The most recent analyst rating on (ISPC) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on iSpecimen stock, see the ISPC Stock Forecast page.

Private Placements and FinancingRegulatory Filings and ComplianceShareholder MeetingsStock Split
iSpecimen Approves Key Proposals in Stockholder Meeting
Positive
Nov 3, 2025

On October 30, 2025, iSpecimen Inc. held a special meeting of stockholders to vote on several key proposals. The company successfully approved a reverse stock split, an increase in authorized shares, and amendments related to private financing transactions and convertible securities, all of which are aimed at enhancing its financial flexibility and compliance with Nasdaq rules.

The most recent analyst rating on (ISPC) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on iSpecimen stock, see the ISPC Stock Forecast page.

Business Operations and Strategy
iSpecimen Announces $200M Solana-Based Treasury Initiative
Positive
Sep 4, 2025

On September 4, 2025, iSpecimen Inc. announced an update on its strategic initiative to integrate digital assets into its business model by building a $200 million corporate treasury reserve based on the Solana blockchain ecosystem. Since its initial announcement in August 2025, the company has been approached by several cryptocurrency-related companies offering opportunities in tokenized real-world assets and highly ranked cryptocurrencies. iSpecimen plans to establish a SOL-based treasury program to diversify its balance sheet and support long-term growth, with a focus on a buy and HODL strategy and purchasing locked SOL at a discount. This initiative is expected to enhance shareholder value and allow for liquidity management through partial diversification and spot trading.

The most recent analyst rating on (ISPC) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on iSpecimen stock, see the ISPC Stock Forecast page.

Business Operations and Strategy
iSpecimen Completes Milestone 1 in Digital Transformation
Positive
Aug 21, 2025

On August 21, 2025, iSpecimen Inc. announced the successful completion of Milestone 1 in its digital transformation program, which involved the installation of the Salestack platform and the provisioning of modern infrastructure. This milestone enhances the iSpecimen Marketplace® with a cloud-native architecture, improving reliability, security, and innovation capabilities, and sets the stage for the next phase of integration aimed at achieving end-to-end operational efficiency.

The most recent analyst rating on (ISPC) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on iSpecimen stock, see the ISPC Stock Forecast page.

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.Date of analysis: Nov 30, 2025