ISPC Earnings Prediction
The chart below shows how ISPC performed 10 days before and after its earnings report, based on data from the past quarters. Typically, ISPC sees a +2.38% change in stock price 10 days leading up to the earnings, and a -15.89% change 10 days following the report. On the earnings day itself, the stock moves by +8.26%. This data can give you a slight idea of what to expect for the next quarter's release.
ISPC Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
2.86M
76.21%
25.05%
Gross Margin
50.25%
5.86%
-10.79%
Operating Margin
-76.18%
-65.24%
-41.86%
Net Margin
-73.65%
-65.64%
-41.88%
EPS
-0.19
-51.28%
-40.62%
No Data Available
ISPC Earnings Analysis
iSpecimen Inc. Common Stock Corporation (ISPC.O) Earnings Conference Call
Positive
iSpecimen exceeded internal revenue targets for the second quarter of 2024 with revenues of approximately $2.9 million, representing a 76% increase from the same period in the prior year. This growth was attributed to operational improvements and streamlined specimen procurement solutions.
Revenues were driven by an increase in specimen count by 26% and an increase in the average selling price per specimen by 39%.
Strategic reductions in spending and workforce contributed to a reduced cash burn rate of 59% for the first half of 2024 compared to the prior year.
iSpecimen welcomed Brielan Smiechowski as the new Senior Vice President of Sales and Business Development, leveraging her 15 years of experience in life sciences and healthcare to advance the company's business development and sales efforts.
Brielan's expertise will help iSpecimen in procuring biospecimens for research and technology advancement.
The Next Day Quote program, implemented in the third quarter of 2023, contributed to increased conversions and revenue generation for iSpecimen. The program streamlined quoting processes and engaged suppliers effectively.
The program resulted in 44% of quotes provided to customers in Q2 2024 being part of the Next Day Quote program.
An impressive 58% of Next Day Quotes were converted to purchase orders in the first half of 2024, showcasing the program's success in driving revenue.
iSpecimen's financial results showed a significant improvement in revenue, cost management, and cash spending efficiency.
Revenue for the second quarter of 2024 increased to $2.9 million from $1.6 million in the same period of the prior year, driven by higher average selling prices and improved operational efficiencies.
The company successfully reduced cash spending for technology, sales and marketing, and general and administrative expenses, contributing to a more robust financial position.
The company's strategic focus on key market opportunities, operational initiatives, and workforce optimization has set the stage for continued revenue growth and financial success throughout 2024 and beyond.
Aggressive efforts to decrease operational expenditures, coupled with a rightsizing approach and workforce reductions, have positioned iSpecimen for long-term sustainability and profitability.
Negative
- Cost of revenue increased by approximately $570,000 or 67% to approximately $1.4 million for the three months ended June 30th, 2024 compared to approximately $854,000 for the three months ended June 30th, 2023.
- General and administrative expenses decreased by approximately $703,000 or 40% from approximately $1.8 million for the three months ended June 30th, 2023, to approximately $1.1 million for the three months ended June 30th, 2024.
- As of June 30th, 2024, iSpecimen had $2.1 million of cash and available-for-sale securities, which represented a decrease of approximately $2.9 million from approximately $5 million as of December 31st, 2023 and a decrease of approximately $405,000 from approximately $2.6 million as of March 31st, 2024.
- The reductions in workforce since January 1st, 2023, through the end of June 30th, 2024, has resulted in an estimated reduction in compensation cost of approximately 45% and technology cost of approximately 66% by the end of June 30th, 2024, when compared to January 1st, 2023.
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ISPC Earning Call Sentiment
iSpecimen Inc. (ISPC) Q2 2024 Earnings Call Transcript
1.0x
00:00
00:00
ISPC.O
-0.98%Positive
The earnings call highlights strong revenue growth and improved cash burn, which are positive indicators. However, the need for additional funding, competitive pressures, and supply chain challenges present uncertainties. The Q&A reveals a cautious market environment and lack of specific guidance, which tempers optimism. The company's strategic initiatives and improved financial health are promising, but the absence of guidance and potential regulatory issues balance the outlook. Considering these factors, the stock price is likely to remain stable, leading to a neutral sentiment.