ImmuCell Announces Unaudited Financial Results for the Year Ended December 31, 2025

Core Viewpoint - ImmuCell Corporation reported a successful year in 2025 with improvements in net operating income and gross margin, despite a net loss due to non-recurring items [2][7]. Financial Performance - The company achieved a net operating income of $1.6 million in 2025, an increase of $3.3 million compared to 2024 [2]. - Revenue for 2025 grew by 4.3% to approximately $27.6 million compared to 2024 [7]. - Gross profit improved to 41.4% of product sales in 2025, up from 30% in 2024 [7]. - The net loss for 2025 was $1.0 million, an improvement of $1.1 million compared to a net loss of $2.2 million in 2024 [2][7]. Operational Highlights - Average monthly output increased from approximately 345,000 units in 2024 to 380,000 units in 2025 [2]. - The company plans to focus on its successful First Defense franchise moving forward [2]. Balance Sheet Data - Cash and cash equivalents remained stable at $3.8 million as of December 31, 2025, unchanged from 2024 [7][10]. - Net working capital increased to approximately $13.0 million as of December 31, 2025, up from $10.6 million in 2024 [7][10]. - Stockholders' equity decreased to $27.1 million as of December 31, 2025, down from $27.5 million in 2024 [7][10]. Cash Flow Data - Operating activities generated $2.475 million in cash in 2025, compared to $357,000 in 2024 [12]. - Investing activities resulted in a cash outflow of $1.214 million in 2025, compared to $461,000 in 2024 [12]. - Financing activities led to a cash outflow of $1.212 million in 2025, contrasting with a cash inflow of $2.883 million in 2024 [12].