iSpecimen Q3 revenue $2.8M (+8% YoY, +75% sequential); net loss $2.1M; cash burn persists

iSpecimen Inc.

2023-Q3 EPS reported -$0.89 revenue$7,353,090

Revenue of $2.8M for Q3 2023 vs $2.6M in Q3 2022; sequential growth of 75% from $1.6M in Q2 2023.
Net loss of $2.1M ($0.23 per share) improved from $3.1M loss ($0.35) in Q3 2022; 9-month loss $8.0M ($0.89).
Cash and securities totaled $5.6M as of Sept 30, 2023, down from $15.3M at Dec 31, 2022; cash burn $9.7M in 9M2023.
Unique customer organizations reached 603 (+26% YoY); registered users 7,326 (+15% YoY); supplier orgs 234.
CEO targets cash flow neutral by year end; launched Next-Day Quote and Cancer Sequencing Procurement Program.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

iSpecimen Inc. reported the three and nine month periods ended September 30, 2023 results: revenue $2.8 million for the three-month period ended September 30, 2023, net income $2.1 million, or $(0.23) per share, EPS $(0.23) per share.

Period: the three and nine month periods ended September 30, 2023
Revenue: $2.8 million for the three-month period ended September 30, 2023
Net income: $2.1 million, or $(0.23) per share
EPS: $(0.23) per share
Result: reported results

Exact text from the filing

iSpecimen Inc. (Nasdaq: ISPC) (“iSpecimen” or the “Company”), an online global marketplace that connects scientists requiring biospecimens for medical research with a network of healthcare specimen providers, today reported its financial and operating results for the three and nine month periods ended September 30, 2023.

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iSpecimen Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-113623

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