Filing Flows › Immucell (ICCC) › Q1 2026 › vs Q4 2025
Immucell (ICCC) Q1 2026 vs Q4 2025 (quarter over quarter)
Immucell's revenue rose $2.7M (+36%) from $7.6M in Q4 2025 to $10.4M in Q1 2026. Gross margin 45.0% against 38.2% (+6.8 pts).
Immucell, Q1 2026: revenue $10.4M (+28% year over year), operating margin 19.0%, net earnings $1.9M, operating cash flow $3.6M. The chart draws each line against Q4 2025, the increases inside each band.
Margins
| Q1 2026 | Q4 2025 | Change | |
|---|---|---|---|
| Gross margin | 45.0% | 38.2% | +6.8 pts |
| Operating margin | 19.0% | -0.8% | +19.8 pts |
| Net margin | 18.7% | -37.4% | +56.1 pts |
| Free cash flow margin | 32.8% | 4.1% | +28.7 pts |
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $10.4M | $7.6M | $2.7M | +36% |
| Gross profit | $4.7M | $2.9M | $1.7M | +60% |
| Cost of revenue | $5.7M | $4.7M | $984K | +21% |
| Operating profit | $2.0M | −$58K | $2.0M | — |
| Operating expenses | $2.7M | $3.0M | −$280K | -9% |
| Pre-tax earnings | $2.0M | −$2.8M | $4.8M | — |
| Research & development | $318K | $759K | −$441K | -58% |
| Sales & marketing | $1.2M | $1.1M | $151K | +14% |
| General & admin | $1.1M | $1.1M | $10K | +0.9% |
| Net earnings | $1.9M | −$2.8M | $4.8M | — |
| Income tax | $13K | $3K | $9K | +279% |
| Depreciation & amortization | $531K | $709K | −$178K | -25% |
| Share-based compensation | $138K | $104K | $34K | +33% |
| Working capital & other | $962K | $2.5M | −$1.6M | -62% |
| Operating cash flow | $3.6M | $483K | $3.1M | +640% |
| Free cash flow (OCF − capex) | $3.4M | $310K | $3.1M | +995% |
| Capital expenditures | $177K | $172K | $5K | +3% |
Questions
How much did Immucell's revenue grow quarter over quarter in Q1 2026?
Immucell's revenue rose $2.7M (+36%) from $7.6M in Q4 2025 to $10.4M in Q1 2026. Gross margin 45.0% against 38.2% (+6.8 pts).