iSpecimen Inc. Common Stock (ISPC)

FairStock Score: 51/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach a company by asking whether it has a durable business and a margin of safety. iSpecimen has a reasonable marketplace concept—connecting researchers who need biospecimens with hospitals and labs that hold them—but the numbers show a business under severe strain. Revenue fell from $9.3M in FY2024 to $1.9M in FY2025, both fiscal years ended December 31, and in fiscal Q2 2026, the quarter ended 2026-06-30, it reported only $151,940 of revenue and a net loss of $1.4M. That is a negative 896.94% net margin, according to the supplied data. Diluted EPS was -$0.98 in that quarter. For FY2025, net income was -$10.5M and diluted EPS was -$2.28. The company had 7 employees, so the platform is small and lacks scale. It has not earned a profit in each of the last four years, and the computed Lynch category is none. The Piotroski F-Score is 4/9 and Altman Z-Score is -16.74, which points to serious financial distress. Free cash flow is -$8.7M trailing twelve months, a -320.0% FCF yield against a $2.7M market cap; it burns more cash than its entire equity value. FairStock's P/B is 0.95 at the $1.08 close on 2026-10-13, but P/B near one is meaningless when ROE is -968.47% and ROCE is -87.69%. The moat, if any, is not translating into profits. Without a dramatic turnaround in revenue and cash burn, the margin of safety is not evident to me.

In plain English: iSpecimen runs an online marketplace that connects researchers who need human biospecimens with hospitals and labs that have them. The business looks very weak right now: revenue has fallen sharply, it loses money, and it burns cash. At $1.08 per share, the price looks low in dollar terms, but compared with the losses it does not look like a bargain.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer