Q2 2026 ImmuCell Corp Earnings Call Transcript
Key Points
- Product sales for Q2 2026 increased 11.5% year-over-year to $7.2 million, with domestic sales growing 27.7%.
- First Defense market share increased from approximately 15% in December 2025 to approximately 19% by the end of June 2026.
- Distributor sell-through volumes grew 24% in the first half of 2026 compared to the same period in 2025.
- The company received a $2 million settlement from its former retained contract manufacturer, boosting cash and working capital.
- ImmuCell Corp (ICCC) is investing approximately $8 million to more than triple manufacturing capacity and reduce processing times from 2-3 months to less than one month.
- Gross margin declined to 33.9% in Q2 2026 from 43.7% in Q2 2025, impacted by lower manufacturing output and scrap costs.
- International sales decreased 38.9% in Q2 2026, primarily due to a decline in Canadian sales related to the 2025 backorder clearing.
- Sales, marketing, and administrative expenses increased to $2.4 million in Q2 2026 from $1.4 million in Q2 2025 due to investments in leadership and commercial expansion.
- Manufacturing output averaged approximately 350,000 units per month in Q2 2026, down from a record 450,000 units per month in Q1 2026.
- The company incurred approximately $150,000 in scrap costs due to a purchased material issue, which negatively impacted gross margin.
Good morning and welcome to the ImmuCell Corporation conference call to discuss unaudited second quarter 2026 financial results. All participants will be in listen-only mode. (Operator Instructions) After today's presentation, there will be an opportunity to ask questions. (Operator Instructions)
Please note this event is being recorded. I would now like to turn the conference over to Joe Diaz of Lytham Partners. Please go ahead.
Thank you. Good morning and welcome.
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 earnings for the second quarter and six months ended June 30, 2026.
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 future events or expected future results or predictions about steps the
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