secwatch.observer — SEC 8-K summary
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Issuer:     iSpecimen Inc. (ISPC)
CIK:        0001558569
Form:       8-K
Filed at:   2023-08-02T23:59:59+00:00
Accession:  0001104659-23-086624
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

iSpecimen Q2 revenue down 31% to $1.63M; net loss widens to $3.5M
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- Revenue of $1.63M (Q2 2023), down 31% YoY from $2.34M; net loss $3.5M ($0.39 per share) vs $2.6M ($0.30) in Q2 2022.
- Cash + investments $8.2M at June 30, down from $15.3M at Dec 31, 2022 due to operating spend and technology investments.
- Unique customer organizations up 22% YoY to 534; supplier organizations up 7.5% to 230.
- CEO cites industry-wide funding slowdown; backlog increased in Q2, expects stronger Q3 2023 results.
- New growth initiatives: sequencing pilot complete, embedded coordinators at supplier sites, remnant line reboot.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1558569/000110465923086624/0001104659-23-086624-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1558569/000110465923086624/tm2322620d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-086624

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer