secwatch.observer — SEC 8-K summary
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Issuer:     iSpecimen Inc. (ISPC)
CIK:        0001558569
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001104659-24-057770
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1558569/000110465924057770/0001104659-24-057770-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1558569/000110465924057770/tm2413655d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-057770

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