iSpecimen 2025 Q3 Earnings Net Loss Widens 93.1% Despite EPS Improvement

iSpecimen (ISPC) reported fiscal 2025 Q3 earnings on November 17, 2025, showing a 77.1% improvement in per-share losses but a 93.1% increase in net loss. The results highlight persistent financial challenges despite cost-cutting measures.

Revenue

The company’s total revenue declined sharply to $106,592 in Q3 2025, a 96.0% drop from $2.66 million in the prior-year period. Specimens contracts with customers accounted for the lion’s share of revenue at $95,816, with shipping and other services contributing an additional $10,776. The segment breakdown underscores a reliance on core specimen contracts as ancillary revenue streams contracted.

Earnings/Net Income

iSpecimen narrowed its per-share loss to $0.48 in Q3 2025 from $2.10 in Q3 2024, reflecting a 77.1% improvement. However, the company’s net loss widened to $2.78 million, a 93.1% increase from $1.44 million in the prior-year quarter. The EPS improvement is positive, but the widened net loss indicates ongoing financial challenges.

Price Action

ISPC’s stock price plummeted 28.19% month-to-date as of November 17, 2025, following a 9.91% decline during the preceding full trading week. The latest trading day saw a 7.89% drop, reflecting investor concern over the company’s financial outlook.

Post-Earnings Price Action Review

The strategy of buying iSpecimen shares on the date of its earnings release and holding for 30 days has shown poor performance over the past three years. The average return per trade is -6.59% over 12 months, with a 71% success rate, indicating significant underperformance compared to the market. While the 3-month average return is slightly better at +11.61%, the overall trend remains a challenging risk-return profile.

Additional News

Recent filings and news underscore iSpecimen’s liquidity concerns. For the nine months ended September 30, 2025, revenue fell 76% year-over-year to $1.88 million, with a net loss of $5.49 million. Cost reductions and equity financings improved short-term liquidity, but substantial doubt persists about the company’s ability to continue as a going concern. These developments highlight ongoing operational and financial risks, including potential insolvency.