Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $10.4M | $11.0M | $13.7M | $15.3M | $19.2M | $18.6M | $17.5M | $26.5M | $27.6M |
| Revenue growth | — | — | 5.3% | 24.9% | 11.8% | 25.4% | -3.5% | -5.9% | 51.6% | 4.3% |
| Gross profit | $5.42M | $5.22M | $5.19M | $6.74M | $6.86M | $8.66M | $7.65M | $3.87M | $7.94M | $11.4M |
| Gross margin | — | 50.1% | 47.3% | 49.1% | 44.7% | 45.0% | 41.2% | 22.1% | 30.0% | 41.4% |
| Operating income | $890K | -$243K | -$1.45M | -$954K | -$1.38M | $257K | -$2.30M | -$5.75M | -$1.64M | $1.65M |
| Operating margin | — | -2.3% | -13.2% | -7.0% | -9.0% | 1.3% | -12.4% | -32.9% | -6.2% | 6.0% |
| Net income | $508K | -$168K | -$2.32M | -$1.30M | -$1.02M | -$78.3K | -$2.49M | -$5.77M | -$2.16M | -$1.04M |
| Net margin | — | -1.6% | -21.1% | -9.4% | -6.7% | -0.4% | -13.4% | -33.1% | -8.1% | -3.8% |
| EPS (diluted) | $0.12 | -$0.03 | -$0.42 | -$0.19 | -$0.14 | -$0.01 | -$0.32 | -$0.75 | -$0.26 | -$0.12 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$222K | $1.18M | -$373K | $234K | $1.32M | $954K | -$1.54M | -$4.67M | $358K | $2.48M |
| Capital expenditures | $3.59M | $17.8M | $2.03M | $1.39M | $4.07M | $2.61M | $3.98M | $1.89M | $466K | $1.25M |
| Free cash flow | -$3.81M | -$16.6M | -$2.40M | -$1.16M | -$2.76M | -$1.65M | -$5.52M | -$6.57M | -$108K | $1.22M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $5.15M | $3.80M | $2.52M | $6.29M | $6.95M | $10.2M | $5.79M | $979K | $3.76M | $3.81M |
| Total assets | $24.7M | $34.3M | $32.7M | $38.7M | $40.3M | $44.5M | $44.9M | $43.8M | $45.1M | $42.5M |
| Total liabilities | $4.98M | $10.7M | $11.0M | $9.70M | $12.1M | $11.9M | $14.5M | $18.8M | $17.6M | $15.5M |
| Long-term debt | — | $8.96M | $9.27M | $8.42M | $9.50M | $812K | $10.2M | — | $9.04M | $7.49M |
| Shareholders' equity | $19.7M | $23.6M | $21.7M | $29.0M | $28.3M | $32.6M | $30.4M | $25.0M | $27.5M | $27.1M |
| Retained earnings | $1.15M | $979K | -$1.34M | -$2.64M | -$3.66M | -$3.74M | -$6.23M | -$12.0M | -$14.2M | -$15.2M |
| Shares (wtd avg diluted) | 4.34M | 4.95M | 5.49M | 6.82M | 7.21M | 7.59M | 7.75M | 7.75M | 8.17M | 9.03M |
Every figure is extracted from IMMUCELL CORP /DE/’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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