secwatch.observer — SEC 8-K summary
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Issuer:     iSpecimen Inc. (ISPC)
CIK:        0001558569
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0001104659-23-113623
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1558569/000110465923113623/0001104659-23-113623-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1558569/000110465923113623/tm2329606d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-113623

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