Core Insights - ImmuCell Corporation reported significant improvements in financial performance for the second quarter and six-month period ended June 30, 2025, including a net income of approximately $502,000 for the quarter and $1.9 million for the six months, contrasting with net losses in the same periods of 2024 [4][8]. Product Sales Highlights - Product sales for the second quarter of 2025 increased by 18% to approximately $6.4 million compared to the same quarter in 2024 [7]. - For the six-month period ended June 30, 2025, product sales rose by 14% to approximately $14.5 million compared to the same period in 2024 [7]. - Over the twelve-month period ended June 30, 2025, product sales increased by 22% to approximately $28.3 million compared to the previous year [7]. Financial Performance - Gross margin improved to 44% for the three-month period and 43% for the six-month period ended June 30, 2025, compared to 22% and 28% respectively in 2024 [8]. - Adjusted EBITDA improved to approximately $1.4 million, $3.7 million, and $5.3 million for the three-month, six-month, and twelve-month periods ended June 30, 2025, respectively [8][16]. Balance Sheet Strength - Cash and cash equivalents increased to approximately $6.0 million as of June 30, 2025, up from $3.8 million at the end of 2024 [8][14]. - Net working capital rose to approximately $12.7 million as of June 30, 2025, compared to $10.6 million at the end of 2024 [8][14]. - Stockholders' equity increased to approximately $29.9 million as of June 30, 2025, from $27.5 million at the end of 2024 [9]. Strategic Initiatives - The company has eliminated the backlog of orders as of June 30, 2025, and is building inventory to meet customer demand for the peak selling season [4]. - ImmuCell has initiated Investigational Product use for Re-Tain to collect market feedback on product performance during the second half of 2025 and into early 2026 [4].

ImmuCell Corporation Investor Presentation August 2025 (Nasdaq: ICCC) 2 Table of Contents | 1) | Company Overview and Strategic Opportunity..…….……..…………………………………………………….….… 4-27 | | --- | --- | | 2) | Testimonials………………………………………………………………….……..…….…………………………………….……….…28-32 | | 3) | Financial Review(1).………………..….……..……………………………..……………………………………………..… 33-39 | | 4) | Other Information..……………...………...………………………………………….……………………………...……….…….40-52 | (1)Detailed financial reports, summary press releases and conference ...

Core Viewpoint - ImmuCell Corporation has successfully refinanced a portion of its bank debt, which is expected to improve its financial position and operational flexibility [1][2]. Financial Summary - The company secured a new loan from Maine Community Bank (MCB) amounting to $2,327,119 at a fixed interest rate of 6.5% per annum [2]. - The proceeds were utilized to pay off an existing loan from MCB with a balance of $1,525,852 at 7% interest and another loan from the Finance Authority of Maine (FAME) with a balance of $768,209 at 8% interest [2]. - The paid-off loans had balloon principal payments totaling approximately $1,946,000 due in the third quarter of 2026 [2]. - The new loan features a five-year amortization schedule, concluding in the third quarter of 2030 [2]. Management Commentary - The President and CEO of ImmuCell expressed appreciation for the ongoing relationship with MCB and acknowledged the support from FAME, particularly during mid-2023 [3]. - By paying off the FAME loan early, the company aims to free up funds for other uses within the State of Maine [3]. Upcoming Events - ImmuCell plans to host a conference call on August 15, 2025, to discuss the unaudited financial results for the quarter ended June 30, 2025 [3]. Company Overview - ImmuCell Corporation focuses on developing and marketing products that enhance the health and productivity of dairy and beef cattle [4]. - The company manufactures First Defense, which provides Immediate Immunity™ to newborn calves, and is developing Re-Tain, a treatment for subclinical mastitis in dairy cows [4].

Core Viewpoint - ImmuCell Corporation is set to report its unaudited financial results for Q2 2025 on August 14, 2025, with a conference call scheduled for the following morning to discuss these results [1][2][3]. Financial Results - The company anticipates no changes to the preliminary sales results for the second quarter ended June 30, 2025, which were previously disclosed on July 9, 2025 [3]. Conference Call Details - A conference call will be held on August 15, 2025, at 9:00 AM ET, accessible via specific toll-free and international numbers [2]. - A replay of the conference call will be available until August 22, 2025, with designated access codes for listeners [2]. Corporate Presentation - Investors are encouraged to review the updated Corporate Presentation slide deck available on the company's website, which will be updated after the market closes on August 14, 2025 [4]. Company Overview - ImmuCell Corporation focuses on developing products that enhance the health and productivity of dairy and beef cattle, including First Defense for newborn calves and Re-Tain for treating subclinical mastitis in dairy cows [5].

Core Viewpoint - ImmuCell Corporation (ICCC) has received an "Outperform" upgrade due to strong sales execution, improved gross margins, and strategic opportunities linked to its late-stage mastitis treatment, Re-Tain [1] Price Performance - ICCC shares have outperformed the industry with a 64.3% increase over the past year compared to the industry's 6.4% growth [2] Sales Execution & Market Penetration - The company achieved a record $8.1 million in product sales for Q1 2025, marking an 11% year-over-year increase, driven by strong demand for its First Defense line [3] - Production capacity expansion supports over $30 million in annual sales, reducing order backlog from $4.4 million at the end of 2024 to $3.4 million by early May 2025 [3] Product Mix and Customer Preference - The Tri-Shield formulation, which provides protection against E. coli, coronavirus, and rotavirus, constituted approximately 71% of the product mix in the quarter, indicating strong customer preference for broader-spectrum coverage [4] Gross Margin Recovery & Operating Leverage - Gross margin improved to 42% in Q1 2025 from 32% in the prior year and 37% in Q4 2024, reflecting enhanced yields and reduced contamination-related scrap [6] - Adjusted EBITDA rose to $2.3 million in Q1 2025 from $0.46 million a year earlier, with a trailing 12-month adjusted EBITDA of $3.3 million, a significant recovery from a $280,000 loss in the prior year [7] Financial Stability - The company reported $4.6 million in cash, $12.1 million in working capital, and a fully undrawn $1 million credit line as of March 2025, alongside $29 million in stockholders' equity [8] Product Innovation & New Format Launch - A bulk powder version of First Defense is set to launch in the second half of 2025, targeting calf ranches and representing an underpenetrated market segment [9] - This new format is expected to enhance market access and diversify revenue streams away from the current sales model [10] Optionality Through Re-Tain & FDA Review - Re-Tain, a non-antibiotic treatment for subclinical mastitis, is under FDA review and represents a strategic option for the company [11] - A Controlled Launch strategy has been outlined to prioritize data collection and quality assurance during initial commercialization [12] Outlook - The "Outperform" rating reflects the company's ability to scale sales and margins through its First Defense franchise, strategic expansion into new formats, and potential upside from Re-Tain's FDA approval [13]

[Overview of Form 8-K Filing (July 9, 2025)](index=1&type=section&id=Form%208-K%20Filing%20July%209%2C%202025) This section outlines ImmuCell Corporation's Form 8-K filing on July 9, 2025, covering preliminary Q2 2025 sales and exhibits [Announcement of Preliminary Q2 2025 Sales Results](index=2&type=section&id=Item%202.02.%20Results%20of%20Operations%20and%20Financial%20Condition) ImmuCell Corporation announced preliminary unaudited Q2 2025 product sales, detailed in a furnished press release - The company issued a press release announcing its preliminary, unaudited product sales for the quarter ended June 30, 2025[6](index=6&type=chunk) - The information in the press release is considered "furnished" and not "filed" for the purposes of Section 18 of the Exchange Act, which has legal implications regarding liability[7](index=7&type=chunk) [Exhibits](index=2&type=section&id=Item%209.01.%20Financial%20Statements%20and%20Exhibits.) The filing includes a press release with preliminary sales data and a Cover Page Interactive Data File as exhibits Exhibit List | Exhibit No. | Description | | :--- | :--- | | 99.1 | Press Release of ImmuCell Corporation dated July 9, 2025 | | 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

Core Viewpoint - ImmuCell Corporation reported preliminary unaudited sales results for Q2 2025, showing significant growth in product sales across various time periods compared to the same periods in 2024 [1][3]. Sales Performance - Total sales for the three-month period ended June 30, 2025, reached $6.4 million, an increase of $972,000 or 18% from $5.5 million in the same period of 2024 [3]. - For the six-month period ended June 30, 2025, sales totaled $14.5 million, up by $1.8 million or 14% from $12.7 million in 2024 [3]. - Sales for the nine-month period ended June 30, 2025, were $22.3 million, reflecting a $4.4 million increase or 25% compared to $17.8 million in 2024 [3]. - Over the twelve-month period ended June 30, 2025, total sales reached $28.3 million, an increase of $5.1 million or 22% from $23.2 million in 2024 [3]. Production and Inventory Management - The company has successfully increased production output, meeting current customer demand and reducing the order backlog to under $100,000 as of June 30, 2025, down from approximately $3.4 million on May 6, 2025 [4]. - The recent sales pace is attributed to the replenishment of the distribution pipeline after a period of supply shortages, allowing the company to ship within one week of order receipt [4]. Future Capacity and Product Development - The company is evaluating additional investments to increase production capacity by 33% to approximately $40 million annually to meet potential demand growth in the North American dairy and beef markets [5]. - ImmuCell is initiating Investigational Product use of Re-Tain to test market acceptance, although this is not expected to generate significant revenue [5]. - The company has submitted a Non-Administrative New Animal Drug Application (NADA) and is addressing inspectional observations at its contract manufacturer's facilities, which is critical for NADA approval [5]. Upcoming Events - A conference call is scheduled for August 15, 2025, to discuss the unaudited financial results for the quarter ended June 30, 2025 [6][7].

Core Insights - ImmuCell Corporation has initiated a search for a new President and CEO as current CEO Michael F. Brigham plans to retire by early 2026 after serving since 2000 [1][2][3] - The company aims to identify a suitable successor by the end of the year, with Brigham committed to assisting in the transition [2][3] Company Overview - ImmuCell Corporation focuses on developing, manufacturing, and marketing products that enhance the health and productivity of dairy and beef cattle [1][3] - The company’s notable products include First Defense®, which provides Immediate Immunity™ to newborn calves, and Re-Tain®, a treatment for subclinical mastitis in dairy cows [3]

Summary of ImmuCell Corporation Conference Call Company Overview - **Company**: ImmuCell Corporation (Ticker: ICCC) - **Industry**: Animal Health, specifically focusing on products that reduce antibiotic use in livestock [1][2] Core Products and Market Position - **First Defense**: A USDA licensed product aimed at providing immediate immunity to newborn calves, reducing the need for traditional antibiotics [3][5][17] - **Retain**: A novel alternative to traditional antibiotics for treating mastitis, currently in the investigational phase due to FDA approval delays [6][38] - **Market Dynamics**: The company positions itself against competitors by emphasizing immediate immunity rather than delayed responses typical of vaccines [17][19] Sales and Financial Performance - **Historical Growth**: From 2011 to 2018, the company experienced an 11.6% CAGR, which accelerated to 15.8% CAGR from 2018 to 2024 following the launch of Tri Shield [12][14] - **Recent Sales Data**: Q1 2024 revenue was $8.1 million, with trailing twelve-month growth reaching $27.3 million, indicating strong recovery from previous production issues [14][15] - **Production Capacity**: The company has successfully doubled its production capacity to over $30 million annually and has been operating without contamination issues since April 2024 [16][15] Operational Challenges and Strategies - **Contamination Issues**: The company faced contamination problems during capacity expansion in late 2022 and throughout 2023, which limited supply [15][16] - **Backlog Management**: The backlog of orders was reduced from over $4 million to just over $3 million, with expectations to clear it in the upcoming quarters [27][28] - **Capital Expenditures**: Plans to increase production capacity from 30 million to 40 million annually, requiring approximately $3 million in capital expenditures [29][30] Product Development and Future Outlook - **First Defense Product Suite**: The product line has evolved since its initial approval in 1991, with the introduction of new formulations to enhance efficacy [34][35] - **Retain Investigational Use**: The company is initiating investigational use of Retain to gather field data, which is crucial for future strategic decisions [39][40] - **Gross Margin Improvement**: Gross margins improved from 22% during contamination issues to 42% in Q1 2025, with a target of reaching 45% [42][45] Strategic Financial Tools - **At-the-Market (ATM) Offering**: The company has utilized the ATM offering judiciously, with significant activity in 2024 but minimal in 2025, allowing for flexibility in financing [31][33] Conclusion - **Optimistic Outlook**: The management expresses optimism for the latter half of 2025, focusing on growth in First Defense and resolving strategic options for Retain [45]

Core Insights - ImmuCell Corporation reported a strong financial performance for Q1 2025, with record product sales of $8.1 million, an 11% increase from $7.3 million in the prior-year period [2] - The company achieved a net income of $1.45 million, a significant turnaround from a net loss of $438,000 in the same quarter a year ago, driven by sales growth and gross margin expansion [2] - Adjusted EBITDA for the quarter rose sharply to $2.3 million from $458,000 in the prior-year quarter, indicating improved operational efficiency [4] Revenue & Earnings - Product sales reached a record $8.1 million, up 11% year-over-year from $7.3 million [2] - Net income improved to $1.45 million from a loss of $438,000, with earnings per share increasing to 16 cents from a loss of 6 cents [2] - Adjusted EBITDA for the quarter was $2.3 million, up from a loss of $458,000 in the prior-year quarter [4] Business Metrics - Gross margin improved to 42% from 37% in Q4 2024, reflecting operational normalization after previous disruptions [3] - The company has successfully remediated contamination issues that affected prior quarters, leading to better manufacturing efficiencies [9] Product Performance - First Defense, the flagship product line, accounted for the majority of sales, with Tri-Shield representing 71% of First Defense product sales for the quarter [5] - Customer demand for Tri-Shield has increased significantly, attributed to its strong efficacy claims compared to traditional vaccines [9] Management Insights - CEO Michael Brigham noted the company's growth in complexity and diversification, supported by the strength of First Defense and increased production capacity [6] - New CFO Tim Fiori emphasized cost control and operational improvements as key drivers for long-term profitability [7] Future Outlook - The company expects continued sales growth due to backlog reduction and increased production capability [11] - ImmuCell is in the investigational phase for the Re-Tain product, which will provide valuable field feedback for future commercialization strategies [11] - A $4-million investment for in-house formulation and aseptic filling for Re-Tain has been paused pending clarity on FDA licensing timelines [12]