iSpecimen Inc. (ISPC) Stock

iSpecimen Inc. (ISPC) is a Technology stock trading at $3.19 (as of 2026-06-04), with a market capitalization of $3.78M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

iSpecimen Inc. develops cloud-based technology and an online marketplace that helps life science researchers find and request human biospecimens—including biofluids, tissues, and living cells—along with related patient information across a network of healthcare organizations. Its platform connects researchers to hospitals, labs, biobanks, and blood centers, serving biopharmaceutical and in vitro diagnostic companies and government or academic institutions.

Understand iSpecimen Inc.: how it makes money

iSpecimen runs a cloud-based marketplace that connects life-science researchers with human biospecimens (tissues, blood, cells) held at hospitals, biobanks, and labs worldwide, earning a fee on each successful match. It is a two-sided platform: specimen providers supply inventory on one side, paying researchers connect on the other, and the company's value scales with the number of transactions it brokers.

Revenue only materializes when a researcher and a specimen provider are matched through the platform; with no owned biobank, the company's entire profit engine depends on achieving sufficient two-sided liquidity in a very niche research-access market.

Business quality (Unprofitable): Unprofitable. Gross margin of 45% shows the unit economics are workable per transaction, but an operating margin of -897% and a collapsing revenue base mean the company is burning capital far faster than it is generating income.

Bull case

  • High-margin platform economics: The 45% gross margin reflects a pure-intermediation model with no inventory, fulfillment, or biobank-capex cost, so each additional matched transaction flows through at a strong contribution rate once fixed platform costs are covered.

Bear case

  • Burn dwarfs income by an order of magnitude: An operating margin of -897% means the company loses roughly nine dollars in operating expense for every dollar of revenue; at this scale the gap is unsustainable without continuous external financing.
Valuation — source: SEC EDGAR (first-party)
Price$3.19
Market Cap$3.78M
EV / EBITDA-0.0
Price / Book2.18
Price / Sales8.10
FCF Yield-185.4%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$1.93M
Net Margin-543.7%
Return on Equity-657.7%
Debt / Equity0.58
Current Ratio0.82
Revenue Growth (YoY)-78.7%
EPS Growth (YoY)133.3%
Financial Health — source: SEC EDGAR
Altman Z-Score-6.10 (distress)
Valuation vs Sector & Industry
Sector P/E (Technology)31.8
Industry P/E (Business Services)28.3
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderRENAISSANCE TECHNOLOGIES LLC ($197960.00)
Institutional Holders Tracked10
Company
SectorTechnology
IndustryBusiness Services
CEOKatharyn Field
Employees24
CountryUS
IPO Date2021-06-17

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ISPC earnings history · ISPC institutional & insider holders · ISPC KPIs & operating metrics · ISPC financials · ISPC investor presentations & press releases · ISPC SEC filings · ISPC peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-06-04.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.