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PORTLAND, Maine - ImmuCell Corporation (NASDAQ:ICCC) reported preliminary, unaudited sales of $6.4 million for the second quarter of 2025, representing an 18% increase compared to the same period last year, according to a company press release. This performance aligns with InvestingPro data showing strong returns over both three-month and one-year periods, though the company remains unprofitable over the last twelve months.
The animal health company, which develops products for dairy and beef cattle, posted six-month sales of $14.5 million, up 14% from the comparable period in 2024. Sales for the twelve months ended June 30 reached $28.3 million, a 22% increase year-over-year. According to InvestingPro, the company maintains strong liquidity with liquid assets exceeding short-term obligations.
ImmuCell has successfully reduced its order backlog to under $100,000 as of June 30, down from approximately $3.4 million in early May. The company attributed this improvement to increased production output that now meets current customer demand. InvestingPro analysis indicates the stock is trading at high EBIT and EBITDA valuation multiples, suggesting investors are pricing in significant growth expectations. Subscribers can access 5 additional key insights about ICCC’s valuation and growth prospects.
"Our investments to increase production capacity to over $30 million per year were challenging and did take longer than we had planned," said Michael F. Brigham, President and CEO of ImmuCell. The company is now evaluating additional investments to increase capacity by another 33% to approximately $40 million. Despite not paying dividends to shareholders, the company’s focus on reinvestment has contributed to its large price uptick over the past six months.
With production constraints resolved, ImmuCell has shifted focus from managing product allocations to pursuing new business opportunities. The company noted that recent sales figures partly reflect the replenishment of distribution inventory following a period of supply shortages.
Separately, ImmuCell is initiating Investigational Product use of Re-Tain, its treatment for subclinical mastitis in dairy cows, to test market acceptance during the second half of 2025. The company submitted its Non-Administrative New Animal Drug Application in January 2025, with regulatory approval pending inspections at its contract manufacturer’s facilities.
ImmuCell plans to discuss its complete second quarter financial results in a conference call scheduled for August 15, 2025.
In other recent news, ImmuCell Corporation reported a strong financial performance for the first quarter of 2025, with product sales reaching a record $8.1 million, marking an 11% increase from the previous year. The company achieved an earnings per share of $0.16 and improved its gross margin to 42% from 37% in the previous quarter. ImmuCell is also introducing a new bulk powder product format for its First Defense line, which is expected to enhance sales further. In leadership news, CEO Michael F. Brigham announced plans to retire by early 2026, and the company is actively searching for his successor. The financial responsibilities have already been transferred to Timothy C. Fiori, the newly appointed Chief Financial Officer. Meanwhile, the company remains focused on expanding its production capacity and exploring strategic options for new product lines. These developments come as ImmuCell continues to navigate potential challenges such as supply chain disruptions and regulatory hurdles for new product approvals.
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