ImmuCell FY2023 net loss widens to $5.8M; Q4 sales up 30% but margin pressured

IMMUCELL CORP /DE/

2023-FY EPS reported -$0.75 revenue$17,471,669

Net loss $5.8M ($0.75 per share) in FY2023 vs $2.5M ($0.32) prior year.
Product sales $17.5M in FY2023, down 6% from $18.6M; Q4 sales $5.1M, up 30%.
Gross margin fell to 22% in FY2023 from 41% due to contamination events and write-offs.
EBITDA turned negative to ($2.6M) vs positive $350K in FY2022.
Cash dropped to <$1M from $5.8M; FDA response on Re-Tain expected by May 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

IMMUCELL CORP /DE/ reported the three-month period ended December 31, 2023 results: revenue $5.1 million, net income Net loss was $1.1 million, EPS $0.15 per basic share.

Period: the three-month period ended December 31, 2023
Revenue: $5.1 million
Net income: Net loss was $1.1 million
EPS: $0.15 per basic share
Result: reported results

Exact text from the filing

Product sales increased by 30%, or $1.2 million, to $5.1 million during the three-month period ended December 31, 2023 compared to $3.9 million during the three-month period ended December 31, 2022.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

IMMUCELL CORP /DE/ reported financial results for the quarter and year ended December 31, 2023.

Period: the quarter and year ended December 31, 2023
Result: reported results

Exact text from the filing

On February 27, 2024 ImmuCell Corporation (the "Company") issued a press release announcing its unaudited financial results for the quarter and year ended December 31, 2023.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

IMMUCELL CORP /DE/ reported the year ended December 31, 2023 results: revenue $17.5 million, net income Net loss was $5.8 million, EPS $0.75 per basic share.

Period: the year ended December 31, 2023
Revenue: $17.5 million
Net income: Net loss was $5.8 million
EPS: $0.75 per basic share
Result: reported results

Exact text from the filing

Product sales decreased by 6%, or $1.1 million, to $17.5 million during the year ended December 31, 2023 compared to $18.6 million during the year ended December 31, 2022.

View on SEC.gov

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Source: SEC EDGAR

accession 0001213900-24-017520

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