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MARKETS / NASDAQ / ISPC
NASDAQ · SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH

iSpecimen Inc. ISPC

6 fiscal years on record · USD · FY2025 reported · SEC filings only
$1.9M
▼ 79.2% YoY
$-10.5M
$-4.2M
In brief

What this company does

iSpecimen is technology-driven company founded to address a critical challenge: how to connect life science researchers who need human biofluids, tissues, and living cells (“biospecimens”) for their research, with the billions of biospecimens available (but not easily accessible) in healthcare provider organizations worldwide. The iSpecimen Marketplace offers single-source access to millions of human biospecimens and patients across a diverse network of specimen providers quickly and compliantly, saving researchers time and money in their specimen procurement process while making it easier and more efficient for providers to get their specimens in the hands of researchers who need them. In addition to providing the technology platform to connect researchers and healthcare providers, iSpecimen handles all marketing, sales, contracting, and compliance functions across both sides of the marketplace. Our iSpecimen Marketplace platform has compiled de-identified healthcare data provided by our healthcare supply partners’ approximately 19 million patient records, 105 million clinical specimen records, 1.4 million banked specimen records, and 1.2 million medical conditions as of December 31, 2025 — to allow researchers to easily search for and select research subjects, specimens, and associated data they need to drive their research program.

Written from the business description in iSpecimen Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 1 April 2026. Every sentence was checked against that document before publication.

Growth
USD 1.9M
Revenue, FY2025 · full 6-year series below
Revenue $M Net income $M
FY2025 · Revenue 1.9 · Net income -10.5
4M8M-5M-10M202020212022202320242025
Compound annual growth
−43.0%
−25.1%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at −25.1% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−544 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -465.4% · Net -543.7%
-200%-400%202020212022202320242025
ROE
FY2025 · ROE -327.8%
-200%-400%-600%202020212022202320242025

Each USD of equity lost 328 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -4.2
-4M-8M202020212022202320242025

Total assetsUSD 9.5M
EquityUSD 3.1M
CashUSD 6.9M
Current ratio1.12×

Equity funds 32% of total assets.

The 6-year record
6 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020
Revenue $B0.00.00.00.00.00.0
Operating income $B−0.0−0.0−0.0−0.0−0.0−0.0
EBITDA $B−0.0−0.0−0.0−0.0−0.0−0.0
Income tax $B···0.00.00.0
Net income $B−0.0−0.0−0.0−0.0−0.0−0.0
Free cash flow $B−0.0−0.0−0.0−0.0−0.0−0.0
EPS, diluted $−2.28−17.58−24.55−1.16−2.09−4.97
Dividend / sh $······
Payout %······
ROE %−327.8−191.5−73.9−40.9−713.1·
Shares out B0.010.000.000.010.010.00

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 24 reconciliationsAUDITED

Reconciled in 6 of 19 fiscal years. 65 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityServices-Commercial Physical & Biological Research
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categoryemerging growth company
Data on record since2020

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