---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-034321"
form_type: "8-K"
ticker: "ISPC"
cik: "0001558569"
company_name: "iSpecimen Inc."
filed_at: "2024-03-14T23:59:59+00:00"
generated_at: "2026-06-04T19:27:55.546173+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# iSpecimen FY2023 revenue $9.93M (-4.5% YoY), net loss $11.1M; cash burn improves to $657K in Q4

## Summary
- Revenue $9.93M vs $10.40M in 2022; specimen count fell 11% to 24,565 but ASP rose 7% to $404.
- Net loss $11.10M ($1.23/sh) vs $10.2M ($1.16/sh); cash ended at $5.01M, down from $15.31M.
- Q4 cash burn $657K, down from $4.29M in Q1; quote-to-PO conversion rose 39% vs prior quarters.
- Record monthly revenue of ~$1.7M in Dec 2023; over 600 customer orgs and 7,428 registered users.
- Entered ATM offering up to $1.5M on March 5, 2024 for additional funding.

## SEC filing metadata
- accession: 0001104659-24-034321
- form_type: 8-K
- ticker: ISPC
- cik: 0001558569
- company_name: iSpecimen Inc.
- filed_at: 2024-03-14T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1558569/000110465924034321/0001104659-24-034321-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1558569/000110465924034321/tm248700d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-034321
- JSON: https://secwatch.observer/filing/0001104659-24-034321.json
- Plain text: https://secwatch.observer/filing/0001104659-24-034321.txt

## Key facts
- Earnings Releases
  iSpecimen Inc. reported year ended December 31, 2023 results: net income net loss was approximately $11.10 million, EPS (1.23) per share.
  - Period: year ended December 31, 2023
  - Net income: net loss was approximately $11.10 million
  - EPS: (1.23) per share
  - Result: reported results
  source text: For the year ended December 31, 2023, the net loss was approximately $11.10 million, or (1.23) per share, compared to a net loss of approximately $10.2 million, or $(1.16) per share, for the same period the prior year.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1558569/000110465924034321/0001104659-24-034321-index.htm
- Earnings Releases
  iSpecimen Inc. reported twelve-month period ended December 31, 2023 results: revenue $9.93 million, net income $11.10 million net loss, EPS (1.23) per share.
  - Period: twelve-month period ended December 31, 2023
  - Revenue: $9.93 million
  - Net income: $11.10 million net loss
  - EPS: (1.23) per share
  - Result: reported results
  source text: For the year ended December 31, 2023, revenue was approximately $9.93 million, compared to approximately $10.40 million for the year ended December 31, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1558569/000110465924034321/0001104659-24-034321-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.