# iSpecimen Inc. (ISPC) · Edgar & Edgarette company card

> iSpecimen Inc. (ISPC) saw revenue fall 79.2% in FY2025 to $2 million, operating margin -465% against a 14.9% median for commercial physical & biological research, equity 32.4% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1558569 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/ISPC) · [JSON](https://www.pops4.com/boards/company/ISPC.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $2M |
| Revenue growth, 1 year | -79.2% |
| Revenue growth per year | -35.5% |
| Operating margin | -465.4% (prior year -137.0%) |
| Net margin | -543.7% |
| Operating cash flow | −$4M |
| Capital spending | $454 |
| Free cash flow | −$4M |
| Cash | $7M |
| Long-term debt | — |
| Total assets | $10M |
| Total equity | $3M |
| Equity ÷ assets | 32.4% |
| Return on equity | -339.6% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: -33.49 (distress zone)
- Piotroski F: 4 of 9 (middling)
- Beneish M: 10.07 (above the −1.78 line)
- Health Harbor boat: Rotting at the dock · four or more warning signs · filed late annual report notice, late quarterly report notice in the last 12 months; operating cash flow was negative; operating loss: a margin of -465.4% in FY2025; revenue is hard to predict: its 80% range is ±45%
- Cash Compass: In between · no clear cash pattern yet

## Edgarette's reading

Exposure: revenue $1.9M (FY2025). Experience: revenue down 79.2% on the year, down 35.5% a year over 4 years; operating margin -465.4%, down from -137.0%. Soundness: equity 32.4% of assets, return on equity -339.6%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $452K and $1.2M next year (method v4.1: its own 4-year record of growth weighed at 50% against under $50M filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $423K to $1.3M. A statistical range, not company guidance. Against peers (8 filers, $50M+ revenue, its industry group): operating margin -465.4% against a 14.9% median; growth -79.2% against 5.2%.

Range logged 2026-09-25, receipt 839127c8148eb93c, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item NT 10-K Late annual report notice: 1, latest 2026-03-31 ([filing](https://www.sec.gov/Archives/edgar/data/1558569/000121390026037193/0001213900-26-037193-index.htm))
- Item 3.01 Exchange listing notice or transfer: 4, latest 2026-09-10 ([filing](https://www.sec.gov/Archives/edgar/data/1558569/000121390026098847/0001213900-26-098847-index.htm))
- Item NT 10-Q Late quarterly report notice: 2, latest 2026-05-18 ([filing](https://www.sec.gov/Archives/edgar/data/1558569/000121390026058047/0001213900-26-058047-index.htm))
- Item 5.02 Director or officer change: 3, latest 2026-08-31 ([filing](https://www.sec.gov/Archives/edgar/data/1558569/000121390026095801/0001213900-26-095801-index.htm))

## Recent filings

- 8-K · filed 2026-11-02 · 5.07 Submission of Matters to a Vote of Security Holders · [filing](https://www.sec.gov/Archives/edgar/data/1558569/000121390026115000/0001213900-26-115000-index.htm)
- 8-K · filed 2026-10-09 · 5.07 Submission of Matters to a Vote of Security Holders · [filing](https://www.sec.gov/Archives/edgar/data/1558569/000121390026108501/0001213900-26-108501-index.htm)
- DEF 14A · filed 2026-09-14 · [filing](https://www.sec.gov/Archives/edgar/data/1558569/000121390026099770/0001213900-26-099770-index.htm)
- 8-K · filed 2026-09-10 · 3.01 Notice of Delisting or Failure to Satisfy a Listing Rule · [filing](https://www.sec.gov/Archives/edgar/data/1558569/000121390026098847/0001213900-26-098847-index.htm)
- 8-K · filed 2026-09-04 · 1.01 Entry into a Material Definitive Agreement; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1558569/000121390026097726/0001213900-26-097726-index.htm)
- 8-K · filed 2026-08-31 · 5.02 Departure or Election of Directors; Appointment of Officers; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1558569/000121390026095801/0001213900-26-095801-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001558569.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1558569

## Cite

POPS4, Edgar & Edgarette: iSpecimen Inc. (ISPC) company card, from the company's own SEC filings, accessed 2026-11-05, https://www.pops4.com/boards/company/ISPC. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.