Filing Flows › Immucell (ICCC) › Q1 2025
Immucell (ICCC) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 14, 2025
Immucell (ICCC) reported revenue of $8.1M for the first quarter 2025 (Q1 2025), +11% from a year earlier and +4% from the quarter before. Operating margin was 13.9%, net earnings $1.4M (17.9% of revenue).
Immucell, Q1 2025: revenue $8.1M (+11% year over year), operating margin 13.9%, net earnings $1.4M, operating cash flow $1.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.1M | +4% | +11% |
| Gross profit | $3.4M | +18% | +46% |
| Operating profit | $1.1M | +80% | — |
| Net earnings | $1.4M | +181% | — |
| Operating cash flow | $1.6M | — | +276% |
| Free cash flow | $1.2M | — | +258% |
What changed
Revenue was $8.1M in Q1 2025, up 11% year over year and up 4% from the previous quarter. First Defense Product Line was the largest line at 100% of revenue. First Defense Product Line added $808K year over year (up 11%), 100% of the total change.
Gross margin was 41.6%, up 9.9 points from a year earlier. Operating profit was $1.1M, a 13.9% margin (up 18.0 points year over year). Operating expenses fell 14% while revenue rose 11%. The fastest-growing cost line was General & admin (+17%). Net earnings were $1.4M. The effective tax rate was 0.1%. Non-operating items added $331K, 23% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $1.6M (up 276% year over year), 109% of net earnings. Non-cash charges added back $687K of depreciation and amortization and $52K of share-based compensation. Working capital and other items used $612K. Capital expenditures of $329K left free cash flow of $1.2M.
Questions
What was Immucell's revenue in the first quarter 2025?
Immucell (ICCC) reported revenue of $8.1M for the first quarter 2025 (Q1 2025), +11% from a year earlier and +4% from the quarter before.
Was Immucell profitable in the first quarter 2025?
Operating profit was $1.1M (13.9% of revenue) and net earnings $1.4M.
Source: Immucell 10-Q on SEC EDGAR.