ImmuCell Reports Q4 Preliminary Net Sales Of $7.6M; Domestic Sales Were $7.0M In 2025, An 8.7% Increase Compared To 2024

ImmuCell Corporation (NASDAQ:ICCC) ("ImmuCell" or the "Company"), an animal health company that develops, manufactures and markets products that improve cattle health and productivity, today announced preliminary, unaudited sales results for the fourth quarter and full year of 2025.

Since the first quarter of 2020, ImmuCell has been providing a preliminary look at its unaudited top line results soon after the close of the quarter and the Company expects to continue providing this prompt, preliminary report on product sales until further notice. The Company will also include a geographic and product line sales breakdown going forward.

Total sales for the three-month period ended December 31, 2025 were $7.6 million, a 1.6% decline compared to the three-month period ended December 31, 2024. For the three-month periods ended December 31:

• Domestic sales were $7.0 million in 2025, an 8.7% increase compared to 2024
• International sales were $0.6 million in 2025, a 52.6% decline compared to 2024
• Tri-Shield® sales were $6.0 million in 2025, a 41.3% increase compared to 2024
• Dual-Force® and other sales were $1.7 million in 2025, a 53.0% decline compared to 2024

Total sales for the twelve-month period ended December 31, 2025, were $27.6 million, a 4.3% increase compared to the twelve-month period ended December 31, 2024. For the twelve-month period ended December 31:

• Domestic sales were $24.4 million in 2025, a 6.5% increase compared to 2024
• International sales were $3.3 million in 2025, a 9.6% decline compared to 2024
• Tri-Shield® sales were $19.9 million in 2025, a 26.5% increase compared to 2024
• Dual-Force® and other sales were $7.7 million in 2025, a 28.2% decline compared to 2024

"Sales for the quarter exceeded our expectations and show that we continue to make progress rebuilding our market position after a period of supply challenges," commented Olivier te Boekhorst, President and Chief Executive Officer of ImmuCell. "This was one of our highest sales quarters ever, without tailwinds from catching up on backorders. Our international business showed a decline, largely due to order timing. We are highly encouraged by the strong growth of our Tri-Shield® product line, which reflects the migration from Dual-Force® products and the acquisition of new dairy and beef customers seeking protection for their calves."

On December 24, 2025, ImmuCell announced a strategic focus on expanding the success of First Defense® after receiving a United States Food and Drug Administration (FDA) Incomplete Letter for its Re-Tain® product. The FDA issued the Incomplete Letter on December 23, 2025, because the Company's contract manufacturer did not satisfactorily address previously cited inspectional deficiencies. After considering the financial implications of the resulting delays, the Company decided to pause further investment in Re-Tain® and intends to record an approximately $2.9 million non-cash impairment write-down of certain property, plant and equipment pertaining to Re-Tain® during the fourth quarter of 2025. The Company has identified opportunities to repurpose the majority of the approximately $15.5 million net book value of Re-Tain® assets as of September 30, 2025, for First Defense®.