ISPC on Nasdaq

iSpecimen Inc.

These insights help researchers assess feasibility, plan studies, and make more informed budgeting decisions.3 From its latest annual report

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Last updated Oct 19, 2026.

Overview

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  • TickerISPC on Nasdaq1
  • IndustryServices-Commercial Physical & Biological Research1
  • HeadquartersWoburn, Massachusetts1
  • Incorporated inDE2
  • Business address8 Cabot Road, Suite 1800, Woburn, Ma 081012
  • Filer category, Emerging growth company2
  • Legal formCorporation

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These insights help researchers assess feasibility, plan studies, and make more informed budgeting decisions.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-465.4%Operating margin4
-543.7%Net margin4
-79.2%Revenue growth, 20254
-339.6%Return on equity4
-$4.2MFree cash flow4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Product brought in 90% of the revenue iSpecimen Inc. broke down this way in fiscal 2025.

  1. Product$1.7M490%down 81% from 2024
  2. Shipping and Handling$194.0K410%up 4% from 2024
Products and services by year
Products and services20242025
Product$9.1M$1.7M
Shipping and Handling$186.2K$194.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue89¢$1.7M
  • Other costs11¢$215.7K

Out of $1.9M in revenue.4 The company lost money this year.

Financial statements

Revenue5674$1.9M in 2025−76% since 2020
0$5.0M$10.0M$15.0M2020: $8.2M$8.2M20202021: $11.1M$11.1M2021+36%2022: $10.4M$10.4M2022−7%2023: $9.9M$9.9M2023−5%2024: $9.3M$9.3M2024−6%2025: $1.9M$1.9M2025−79%
Operating income56784-$9.0M in 2025+273% since 2020
-$15.0M-$10.0M-$5.0M02020: -$2.4M-$2.4M20202021: -$5.9M-$5.9M2021+146%2022: -$10.2M-$10.2M2022+72%2023: -$11.2M-$11.2M2023+10%2024: -$12.7M-$12.7M2024+14%2025: -$9.0M-$9.0M2025−29%
Net income56784-$10.5M in 2025+125% since 2020
-$15.0M-$10.0M-$5.0M02020: -$4.7M-$4.7M20202021: -$9.0M-$9.0M2021+93%2022: -$10.2M-$10.2M2022+14%2023: -$11.1M-$11.1M2023+8%2024: -$12.5M-$12.5M2024+13%2025: -$10.5M-$10.5M2025−16%

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
Revenue$1.9M$9.3M
Cost of revenue$1.9M$5.3M
Technology$2.2M$3.5M
Sales and marketing$2.3M$4.9M
Supply development$247.0K$537.9K
Fulfillment$827.5K$1.6M
General and administrative$3.5M$6.1M
Total operating expenses$10.9M$22.0M
Loss from operations-$9.0M-$12.7M
Interest expense-$1.9K-$173.8K
Interest income$3.7K$44.1K
Interest and penalties on sales tax liability-$8.0K-$46.3K
Other income (expense), net-$1.5M$406.2K
Total other income, net-$1.5M$230.2K
Net loss-$10.5M-$12.5M
Unrealized loss on available-for-sale securities-$840
Total other comprehensive loss-$840
Comprehensive loss-$10.5M-$12.5M
Net loss per share - basic (in Dollars per share)-$2.28-$17.58
Net loss per share - diluted (in Dollars per share)-$2.28-$17.58
Weighted average shares of common stock outstanding - basic (in Shares)4.6M shares710.9K shares
Weighted average shares of common stock outstanding - diluted (in Shares)4.6M shares710.9K shares

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Leadership

Who has led iSpecimen Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Christopher Ianelli2021–2022
  2. Tracy Curley2022–2023

President

  1. Christopher Ianelli2021–2022

Chief financial officer

  1. Tracy Curley2021–2023
  2. Yuying Liang2025–now

Chief operating officer

  1. Jill Mullan2021–2022
2025
Board members and other officers (16)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerRobert Bradley Lim named Aug 6, 202530
  • DirectorAnthony Lau named Jan 5, 2026 to May 14, 202631
  • DirectorSiyun Yang named Jan 5, 202632
  • DirectorAnthony Bradley Lau named Aug 6, 202530
  • DirectorSiyun Bradley Yang named Aug 6, 202530

Timeline

  1. Nov 4, 2022New chief executive Tracy Curley becomes CEO11
  2. Jun 17, 2021New chief executive Christopher Ianelli becomes CEO12

Filings

284 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 86 major events, 58 insider forms, 12 large holders, 4 private raises, 103 other. The latest 20:

  1. Oct 9, 2026PRER14A PROXY STATEMENT EDGAR
  2. Oct 9, 20268-K CURRENT REPORT EDGAR
  3. Sep 14, 2026DEF 14A PROXY STATEMENT EDGAR
  4. Sep 10, 20268-K CURRENT REPORT EDGAR
  5. Sep 4, 2026PRE 14A PROXY STATEMENT EDGAR
  6. Sep 4, 20268-K CURRENT REPORT EDGAR
  7. Aug 31, 20268-K CURRENT REPORT EDGAR
  8. Aug 14, 20268-K CURRENT REPORT EDGAR
  9. Aug 14, 202610-Q QUARTERLY REPORT EDGAR
  10. Aug 11, 20268-K CURRENT REPORT EDGAR
  11. Aug 7, 20268-K CURRENT REPORT EDGAR
  12. Aug 7, 2026424B4 PROSPECTUS EDGAR
  13. Jul 30, 2026EFFECT EDGAR
  14. Jul 17, 2026S-1/A AMENDMENT NO. 2 TO FORM S-1 EDGAR
  15. Jul 14, 20268-K CURRENT REPORT EDGAR
  16. Jul 6, 2026S-1/A AMENDMENT NO. 1 TO FORM S-1 EDGAR
  17. Jun 24, 2026S-1 REGISTRATION STATEMENT EDGAR
  18. Jun 22, 2026DRS/A EDGAR
  19. Jun 17, 2026EFFECT EDGAR
  20. Jun 15, 2026CORRESP EDGAR

The 284 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

8 open-market trades by officers, directors and large owners since October 2021: 8 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 14, 2023Bielak BenjaminChief Info Officer & SecretaryBuy18,000$0.72$13.0KForm 4
May 31, 2023Curley TracyCEO, CFO and TreasurerBuy4,400$1.25$5.5KForm 4
Nov 17, 2021Curley TracyCEO, CFO and TreasurerBuy2,000$5.12$10.2KForm 4
Nov 16, 2021DirectorBuy1,000$5.19$5.2KForm 4
Nov 16, 2021Curley TracyCEO, CFO and TreasurerBuy8,000$5.23$41.8KForm 4
Nov 15, 2021DirectorBuy1,000$5.29$5.3KForm 4
Nov 10, 2021DirectorBuy500$5.85$2.9KForm 4
Nov 8, 2021DirectorBuy1,000$5.73$5.7KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. May 11, 2026Raised $2.5 million in a private offering of equity Form D: 2 investors so far Form D
  2. Dec 30, 2025Raised $5.5 million in a private offering of equity Form D: 3 investors so far Form D
  3. Aug 1, 2025Raised $1.8 million in a private offering of equity Form D: 4 investors so far Form D
  4. Dec 1, 2021Raised $21 million in a private offering of equity Form D: 4 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
UBS Group AG32,037$84.9K0.0%New
Jane Street Group, LLC24,414$64.7K0.0%New
Tower Research Capital LLC (TRC)219$5800.0%New
IFP Advisors, Inc200$5300.0%New
BlackRock, Inc.71$1880.0%New
Vanguard Capital Management LLC31$820.0%New
Caitong International Asset Management Co., Ltd2$50.0%New
SBI Securities Co., Ltd.1$30.0%New

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

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