ImmuCell reports $10.4M Q1 sales, net income up 34% to $1.9M
ImmuCell posted record Q1 product sales of $10.4 million, up 28.4% year-over-year, driven by a 35.7% domestic gain to $9.7 million despite a 30.2% drop in international sales to $600,000. Gross margin improved to 45% and net income rose 34% to $1.9 million while cash on hand totaled $6.8 million.
1. Record Q1 Performance
ImmuCell achieved its first quarter with over $10 million in product sales, totaling $10.4 million, marking a 28.4% increase over Q1 2025. Net income rose 34% to $1.9 million ($0.21 per share) and EBITDA improved to $2.6 million, reflecting strong top-line growth.
2. Product Sales Breakdown
Domestic sales climbed 35.7% to $9.7 million while international sales decreased 30.2% to $600,000. TriShield product revenue grew 38.5% year-over-year, and First Defense accounted for nearly 80% of dollar expansion in the U.S. scours prevention market.
3. Profitability and Balance Sheet
Gross margin expanded to 45% from 41.6% despite legacy cost headwinds, and operating expenses increased to $2.7 million from $2.2 million driven by leadership and sales investments. Cash on hand reached $6.8 million, inventory stood at $8.7 million, and working capital rose to $15 million.
4. Operational and Strategic Developments
Manufacturing output surpassed 450,000 units per month, and the company settled a $2 million claim with a former contract manufacturer. New formulations of First Defense launched late last year remain in rollout phase to expand market reach.