# ImmuCell Corporation (ICCC)

**Exchange:** NASDAQ  
**Sector:** Healthcare  
**Market cap:** $87M  
**Price:** $9.67 (-1.02%)

> ImmuCell Corporation is a biotechnology company engaged in the development, manufacture, and sale of products that improve animal health and productivity in the dairy and beef industries. The company's primary focus is on the development of products that provide alternatives to traditional antibiotics, offering innovative solutions to enhance the immune system of livestock. ImmuCell’s notable product, First Defense, helps prevent scours (diarrhea) in newborn dairy and beef calves, a common ailment that can impair growth and development and lead to high mortality rates. By addressing such pervasive health challenges in the livestock sector, ImmuCell significantly impacts agricultural productivity and sustainability. Located in the United States, ImmuCell Corporation contributes to the broader biotechnology and agricultural markets by promoting healthier livestock, thereby potentially reducing the dependency on antibiotics and aligning with global trends towards more sustainable and responsible farming practices. This focus not only underscores the company’s role in animal health innovation but also highlights its importance in food safety and the agricultural supply chain.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $28M | $11M | $2M | -$1M | — |
| 2024 | $26M | $8M | -$2M | -$2M | — |
| 2023 | $17M | $4M | -$6M | -$6M | — |
| 2022 | $19M | $8M | -$2M | -$2M | — |
| 2021 | $19M | $9M | $257,385 | -$78,292 | — |
| 2020 | $15M | $7M | -$1M | -$1M | — |
| 2019 | $14M | $7M | -$953,908 | -$1M | — |
| 2018 | $11M | $5M | -$1M | -$2M | — |
| 2017 | $10M | $5M | -$242,845 | -$168,147 | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $43M | $15M | $27M | $4M | $9M |
| 2024 | $45M | $18M | $28M | $4M | $9M |
| 2023 | $44M | $19M | $25M | $978,741 | — |
| 2022 | $45M | $14M | $30M | $6M | $10M |
| 2021 | $44M | $12M | $33M | $10M | $812,207 |
| 2020 | $40M | $12M | $28M | $7M | $9M |
| 2019 | $39M | $10M | $29M | $6M | $8M |
| 2018 | $33M | $11M | $22M | $3M | $9M |
| 2017 | $34M | $11M | $24M | $4M | $9M |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | $2M | $1M | $1M |
| 2024 | $357,903 | $465,725 | -$107,822 |
| 2023 | -$5M | $2M | -$7M |
| 2022 | -$2M | $4M | -$6M |
| 2021 | $954,170 | $3M | -$2M |
| 2020 | $1M | $4M | -$3M |
| 2019 | $233,511 | $1M | -$1M |
| 2018 | -$373,404 | $2M | -$2M |
| 2017 | $1M | $18M | -$17M |
| 2016 | -$222,314 | $4M | -$4M |
| 2015 | $3M | $3M | $181,047 |
| 2014 | $302,364 | $2M | -$1M |
| 2013 | $1M | $597,697 | $500,963 |
| 2012 | $344,390 | $275,395 | $68,995 |
| 2011 | -$37,315 | $243,735 | -$281,050 |

Source: [CompaniesByCap](https://companiesbycap.com/company/ICCC)