---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-057770"
form_type: "8-K"
ticker: "ISPC"
cik: "0001558569"
company_name: "iSpecimen Inc."
filed_at: "2024-05-07T23:59:59+00:00"
generated_at: "2026-06-02T18:13:37.151420+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# iSpecimen Q1 revenue down 22% to $2.29M; net loss widens to ($0.32)/share

## Summary
- Revenue $2.29M vs $2.95M YoY; specimen count fell 39% to 5,241, offset by 28% higher ASP ($437).
- Net loss $2.90M ($0.32/share) vs $2.43M loss ($0.27/share) in Q1 2023; G&A up 16% to $2.10M.
- Cash and securities $2.56M at Mar 31, down from $5.01M at Dec 31, 2023; ATM offering up to $1.5M.
- Next Day Quotes reached 40% of all quotes; conversion rate on NQ quotes hit 91% (vs 32% in Q4 2023).
- Supplier network trimmed to 140 from 243; customer count grew to 600+ (up 66 YoY).

## SEC filing metadata
- accession: 0001104659-24-057770
- form_type: 8-K
- ticker: ISPC
- cik: 0001558569
- company_name: iSpecimen Inc.
- filed_at: 2024-05-07T23:59:59+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/1558569/000110465924057770/0001104659-24-057770-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1558569/000110465924057770/tm2413655d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-057770
- JSON: https://secwatch.observer/filing/0001104659-24-057770.json
- Plain text: https://secwatch.observer/filing/0001104659-24-057770.txt

## Key facts
- Earnings Releases
  iSpecimen Inc. reported for the quarter ended March 31, 2024 results: revenue approximately $2.29 million, net income approximately $2.90 million, EPS ($0.32) per share.
  - Period: for the quarter ended March 31, 2024
  - Revenue: approximately $2.29 million
  - Net income: approximately $2.90 million
  - EPS: ($0.32) per share
  - Result: reported results
  source text: For the quarter ended March 31, 2024, revenue was approximately $2.29 million, compared to approximately $2.95 million for the quarter ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1558569/000110465924057770/0001104659-24-057770-index.htm

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