ImmuCell Q3 product sales $5.5M (-8% YoY); net loss narrows to $140k; gross margin recovers to 43%

IMMUCELL CORP /DE/

2025-Q3 EPS reported $0.20 revenue$20,018,175

Product sales Q3 2025: $5.5M, down 8% YoY; nine-month 2025: $20.0M, up 7% YoY.
Net loss Q3 2025: ($140k) or ($0.02)/share vs ($702k) loss in Q3 2024.
Net income nine-month 2025: $1.8M ($0.20 diluted) vs ($2.7M) loss in prior period.
Gross margin improved to 43% Q3 2025 vs 26% Q3 2024; nine-month 42.6% vs 27.3%.
Adjusted EBITDA Q3: $751k vs $196k; nine-month: $4.4M vs $35k; cash $3.9M, no debt drawn.

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