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ImmuCell Corporation (ICCC)
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ImmuCell Corporation Income Statement 2025-2008 | ICCC
Brief overview of revenue and earnings at ImmuCell Corporation
The overview follows changes across a five-year period. ImmuCell Corporation reported revenue of $15.3 million in 2020 and $27.6 million by 2025. The cumulative result was +80.2%, corresponding to roughly 12.5% per year. Revenue followed a strong upward trend without signs of stagnation.
The five-year change in gross profit reached +66.8%: from $6.9 million to $11.4 million. The relationship between sales and direct costs deteriorated. Comparing the endpoints gives gross margins of 44.7% and 41.4%. The contraction points to pressure from direct costs or weaker pricing power.
EBITDA changed from 948 thousand dollars to 4.4 million dollars (+367.6%). EBITDA grew faster than revenue, indicating positive operating leverage. At the operating-margin level, the figure shifted from 6.2% to 16%. The business generated more EBITDA from each unit of revenue.
Net income moved from −1 million dollars at the start to −1 million dollars at the end. The loss widened and increased the financial risk.
Market value was $67.4 million at the start and $58 million at the end. Lower capitalization reflects weaker investor expectations.
Conclusion
The results present an uneven picture without one dominant signal. The strongest signals are stable net income, revenue expansion and higher operating efficiency. The main areas of concern are pressure from direct costs. Further direction will depend on top-line growth, operating profitability, and net income.
Annual Income Statement ImmuCell Corporation
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
58 M | 40.9 M | 40.4 M | 40.7 M | 61.9 M | 67.4 M | 34.8 M | 43.4 M | 35.3 M | 25 M | 17.9 M | 18.2 M | 13.3 M | 11.9 M | 13.7 M | 11.1 M | 5.47 M | - |
Shares |
9.03 M | 8.17 M | 7.75 M | 7.75 M | 7.59 M | 7.21 M | 6.82 M | 5.49 M | 4.95 M | 4.23 M | 3.04 M | 3.03 M | 3.02 M | 3.02 M | 2.98 M | 2.97 M | 2.96 M | - |
Historical Prices |
6.43 | 5.01 | 5.21 | 5.25 | 8.15 | 9.35 | 5.36 | 7.86 | 7.32 | 5.92 | 5.87 | 6.02 | 4.29 | 3.83 | 4.7 | 3.75 | 1.85 | 3.3 |
Net Income |
-1.04 M | -2.16 M | -5.78 M | -2.49 M | -78.3 K | -1.02 M | -1.3 M | -2.32 M | -168 K | 508 K | 1.21 M | -167 K | 117 K | 89.5 K | -410 K | -385 K | -216 K | - |
Revenue |
27.6 M | 26.5 M | 17.5 M | 18.6 M | 19.2 M | 15.3 M | 13.7 M | 11 M | 10.4 M | 9.54 M | 10.2 M | 7.6 M | 6.01 M | 5.39 M | 5.11 M | - | - | - |
Cost of Revenue |
16.2 M | 18.6 M | 13.6 M | 10.9 M | 10.6 M | 8.48 M | 6.98 M | 5.79 M | 5.21 M | - | - | - | - | - | - | - | - | - |
Gross Profit |
11.4 M | 7.94 M | 3.87 M | 7.65 M | 8.66 M | 6.86 M | 6.74 M | 5.19 M | 5.22 M | 5.42 M | 6.25 M | 4.45 M | 3.06 M | 3.05 M | 2.81 M | 2.3 M | 2.4 M | - |
Operating Income |
1.65 M | -1.64 M | -5.75 M | -2.3 M | 257 K | -1.38 M | -954 K | -1.45 M | -243 K | 890 K | 2.12 M | -206 K | -19.6 K | 245 K | -633 K | -690 K | -530 K | - |
Interest Expense |
- | - | 476 K | 349 K | 314 K | 348 K | -314 K | - | - | - | - | - | - | - | - | - | - | - |
EBITDA |
4.43 M | 1.09 M | -3.05 M | 170 K | 2.7 M | 948 K | 1.31 M | -626 K | 662 K | 1.69 M | 2.65 M | 243 K | 398 K | 648 K | -214 K | -273 K | -136 K | - |
Operating Expenses |
9.8 M | 9.58 M | 9.62 M | 9.95 M | 8.4 M | 8.24 M | 7.69 M | 7.34 M | 5.46 M | 4.53 M | 4.13 M | 4.66 M | 3.08 M | 2.81 M | 3.45 M | 2.99 M | 2.93 M | - |
General and Administrative Expenses |
3.2 M | 2.22 M | 2.13 M | 2.26 M | 1.73 M | - | 1.69 M | 1.74 M | 1.52 M | 1.45 M | 1.29 M | 1.16 M | 939 K | 918 K | 857 K | 849 K | 873 K | - |
All numbers in USD currency
Quarterly Income Statement ImmuCell Corporation
| 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
9.03 M | 9.05 M | - | 9.05 M | 9.03 M | 8.98 M | 8.98 M | 8.16 M | 7.81 M | 7.75 M | 7.75 M | 7.75 M | 7.75 M | 7.75 M | 7.75 M | 7.75 M | 7.74 M | 7.74 M | 7.74 M | 7.74 M | 7.66 M | 7.22 M | 7.22 M | 7.21 M | 7.21 M | 7.21 M | 7.21 M | 7.21 M | 7.21 M | 5.62 M | 5.57 M | 5.48 M | 5.48 M | 5.48 M | 5.48 M | 4.99 M | 4.85 M | 4.85 M | 4.85 M | 4.18 M | 4.18 M | 3.83 M | 3.06 M | 3.05 M | 3.03 M | 3.03 M | - | 3.03 M | 3.03 M | 3.03 M | - | 3.02 M | 3.02 M | 3.02 M | - | 3.02 M | 3.02 M | 3.02 M | - | 2.98 M | 2.97 M | 2.97 M |
Net Income |
502 K | 1.94 M | - | -140 K | 502 K | 1.45 M | - | -702 K | -1.53 M | -438 K | - | -940 K | -1.38 M | -2.32 M | - | -655 K | -684 K | 513 K | - | 148 K | 141 K | -441 K | - | -323 K | -766 K | -122 K | - | -503 K | -627 K | 145 K | - | -250 K | -798 K | -221 K | - | -339 K | -218 K | -168 K | 30.3 K | 34.9 K | -9.16 K | 452 K | 289 K | 351 K | 94.1 K | 479 K | 131 K | 10.3 K | -295 K | -13.3 K | -151 K | 57.3 K | 6.45 K | 204 K | -16.9 K | -63.6 K | 15.2 K | 155 K | -530 | -128 K | -258 K | -23.1 K |
Revenue |
6.44 M | 10.4 M | - | 5.51 M | 6.44 M | 8.07 M | - | 6.01 M | 5.47 M | 7.26 M | - | 5.4 M | 3.53 M | 3.45 M | - | 4.8 M | 3.86 M | 6 M | - | 5.15 M | 4.54 M | 4.11 M | - | 3.72 M | 2.97 M | 15.3 M | - | 2.97 M | 2.71 M | 4.41 M | - | 2.15 M | 3.01 M | 2.88 M | - | 2 M | 1.75 M | 3.54 M | - | 144 K | 332 K | 158 K | - | 157 K | 295 K | 193 K | - | 283 K | 214 K | 126 K | - | 288 K | 211 K | 105 K | - | 221 K | 133 K | - | - | 214 K | 139 K | - |
Cost of Revenue |
3.63 M | 5.7 M | - | 3.14 M | 3.63 M | 4.71 M | - | 4.43 M | 4.24 M | 4.96 M | - | 4.13 M | 2.49 M | 3.15 M | - | 2.95 M | 2.15 M | 2.9 M | - | 2.73 M | 2.47 M | 2.5 M | - | 2 M | 1.68 M | 2.67 M | - | 1.52 M | 1.46 M | 2.21 M | - | 1.2 M | 1.53 M | 1.52 M | - | 1.07 M | 828 K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Gross Profit |
2.82 M | 4.66 M | - | 2.36 M | 2.82 M | 3.35 M | - | 1.58 M | 1.23 M | 2.3 M | - | 1.27 M | 1.04 M | 301 K | - | 1.85 M | 1.71 M | 3.1 M | - | 2.42 M | 2.07 M | 1.6 M | - | 1.72 M | 1.28 M | 2.24 M | - | 1.45 M | 1.25 M | 2.2 M | - | 951 K | 1.49 M | 1.36 M | - | 936 K | 921 K | 2.15 M | 1.22 M | 1.2 M | 1.24 M | 1.76 M | 1.66 M | 1.61 M | 1.13 M | 1.85 M | 1.34 M | 1.08 M | 879 K | 1.15 M | 608 K | 616 K | 784 K | 1.05 M | 750 K | 621 K | 671 K | 1.01 M | 725 K | 526 K | 695 K | 868 K |
Operating Income |
570 K | 1.97 M | - | 20.1 K | 570 K | 1.12 M | - | -575 K | -1.39 M | -300 K | - | -1.18 M | -1.3 M | -2.26 M | - | -617 K | -619 K | 571 K | - | 271 K | 216 K | -375 K | - | -252 K | -691 K | 197 K | - | -430 K | -547 K | 265 K | - | -149 K | -193 K | -178 K | - | -482 K | -265 K | 918 K | 119 K | 50.5 K | 21.5 K | 699 K | 461 K | 627 K | 214 K | 820 K | 199 K | 40.9 K | -459 K | 12.6 K | -210 K | -160 K | 23.7 K | 327 K | 12.5 K | -86.1 K | 37.4 K | 281 K | 9.38 K | -192 K | -433 K | -16.9 K |
Interest Expense |
- | - | - | - | - | - | - | 144 K | 142 K | 146 K | - | 145 K | 88.6 K | 90 K | - | 89.4 K | 90.2 K | 75.2 K | - | 78.5 K | 79.4 K | 79.6 K | - | -71.3 K | -74.5 K | -334 K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
EBITDA |
1.23 M | 2.5 M | - | 729 K | 1.23 M | 1.79 M | - | 111 K | -720 K | 362 K | - | -488 K | -624 K | -1.6 M | - | 10.8 K | 5.6 K | 1.19 M | - | 884 K | 833 K | 240 K | - | 344 K | -123 K | 752 K | - | 133 K | 17.6 K | 829 K | - | 229 K | 87.3 K | 102 K | - | 145 K | 156 K | 1.13 M | 119 K | 620 K | 390 K | 862 K | 461 K | 1.01 M | 458 K | 936 K | 199 K | 372 K | -231 K | 125 K | -210 K | 133 K | 220 K | 424 K | 12.5 K | 218 K | 248 K | 384 K | 9.38 K | 114 K | -222 K | 88.3 K |
Operating Expenses |
2.25 M | 2.69 M | - | 2.34 M | 2.25 M | 2.24 M | - | 2.16 M | 2.62 M | 2.6 M | - | 2.45 M | 2.35 M | 2.56 M | - | 2.46 M | 2.33 M | 2.53 M | - | 2.15 M | 1.86 M | 1.98 M | - | 1.97 M | 1.97 M | 2.04 M | - | 1.88 M | 1.8 M | 1.94 M | - | 1.1 M | 1.68 M | 1.54 M | - | 1.42 M | 1.19 M | 1.23 M | - | 1.15 M | 1.22 M | 1.06 M | - | 985 K | 917 K | 1.03 M | - | 1.04 M | 1.34 M | 1.14 M | - | 776 K | 760 K | 727 K | - | 707 K | 633 K | 731 K | - | 718 K | 1.13 M | 885 K |
General and Administrative Expenses |
720 K | 1.14 M | - | 729 K | 720 K | 623 K | - | 528 K | 602 K | 532 K | - | 515 K | 529 K | 567 K | - | 466 K | 528 K | 685 K | - | 444 K | 422 K | 425 K | - | 392 K | 422 K | 482 K | - | 399 K | 452 K | 419 K | - | 397 K | 443 K | 423 K | - | 386 K | 399 K | 380 K | - | 363 K | 376 K | 337 K | - | 302 K | 329 K | 311 K | - | 302 K | 314 K | 258 K | - | 227 K | 242 K | 239 K | - | 231 K | 228 K | 242 K | - | 216 K | 223 K | 209 K |
All numbers in USD currency
The income statement is one of the three key financial reports of a company ImmuCell Corporation (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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