ImmuCell reports 2025 net operating income $1.6M; net loss narrows to $1.0M

IMMUCELL CORP /DE/

Product sales $27.6M, up 4.3% YoY; gross margin improved to 41.4% from 30%.
Net loss $1.0M ($0.12/share) vs $2.2M ($0.26/share) in 2024.
Net operating income $1.6M vs operating loss $1.6M in 2024.
Non-recurring items: $2.7M Re-Tain write-down, $651K colostrum write-downs, $297K CEO transition costs, $427K insurance proceeds.
Cash $3.8M, no debt draw; net working capital $13M.

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