Q4 2025 ImmuCell Corp Earnings Call Transcript
Key Points
- ImmuCell Corp (ICCC) achieved total product sales of $27.6 million in 2025, with a net operating profit of $1.6 million, marking a $3.3 million improvement compared to 2024.
- The company successfully increased its manufacturing capacity to meet customer demand, resolving a multiyear backorder situation.
- Gross margin improved significantly, increasing to 41% during the full year 2025 compared to 30% in 2024, driven by increased manufacturing volumes and efficiencies.
- ImmuCell Corp (ICCC) maintained a 15% market share of treated calves in the US and captured approximately 29% of the spend in the growing calf scours prevention category.
- The company has identified opportunities to further increase manufacturing capacity to between 5 million and 6 million units per year without major investments, ensuring future growth potential.
- Product sales for the fourth-quarter of 2025 decreased by 1.6% compared to the fourth-quarter of 2024, impacted by prior backorder catch-up dynamics.
- International sales for Q4 2025 declined by more than half compared to the same period in 2024, mainly due to order timing in Canada.
- Operating expenses increased to $3 million during Q4 of 2025 compared to $2.2 million during Q4 of 2024, driven by increases in G&A expenses.
- The company took a noncash write-down impairment charge of $2.7 million for certain Re-Tain-related property, plant, and equipment.
- Net loss for 2025 was $1 million, although this represents an improvement, it still indicates a loss for the year.
Good morning, and welcome to the ImmuCell Corporation conference call to discuss unaudited fourth-quarter and full year 2025 financial results. (Operator Instructions) Please note, this event is being recorded.
I would now like to turn the conference call over to Joe Diaz of Lytham Partners. Please go ahead.
Thank you, Bailey, and good morning to all. As the conference call operator indicated, my name is Joe Diaz with Lytham Partners. We are the Investor Relations consulting firm for ImmuCell. I thank all of you for joining us today to discuss the unaudited financial results for the fourth-quarter and the year ended December 31, 2025.
Listeners are reminded and cautioned that statements made by management during the course of this call include forward-looking statements, which include any statement that refers to the future events or expected future results or predictions about the steps the company plan to take in the future. These statements are not guarantees of performance and are subject to risks
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