ImmuCell Reports Preliminary FY25 Revenue of $27.6M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 08 2026
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Should l Buy ICCC?
Reports preliminary FY25 revenue $27.6M. "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 CEO 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."
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About ICCC
ImmuCell Corporation is an animal health company. The Company is engaged in the development, acquisition, manufacture, and sale of products that improve the health and productivity of dairy and beef cattle. It operates in two business segments: Scours and Mastitis. The Scours segment is engaged in manufacturing and selling First Defense, a product used to prevent scours in newborn calves. The Mastitis segment includes products called California Mastitis Test and Re-Tain. Re-Tain, a novel treatment for subclinical mastitis in dairy cows, is in the late stages of development. The First Defense product line provides bovine antibodies that newborn calves need but are unable to produce on their own immediately after birth. Its product line extension, Tri-Shield First Defense, is the first calf-level, passive antibody product providing immediate immunity against each of the three causes of calf scours (E. Coli, coronavirus, and rotavirus).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
ImmuCell Reports $27.6M Sales in 2025, Significant Growth in Tri-Shield®
- Sales Overview: ImmuCell reported $7.6 million in sales for Q4 2025, a 1.6% decline from Q4 2024, yet total sales for the year reached $27.6 million, reflecting a 4.3% increase, indicating ongoing progress in rebuilding market position.
- Domestic Market Performance: Domestic sales hit $24.4 million in 2025, a 6.5% increase, showcasing robust growth in the U.S. market despite a 9.6% decline in international sales, highlighting the company's focus on domestic strength.
- Product Line Growth: Sales for the Tri-Shield® product line reached $19.9 million, up 26.5%, demonstrating strong demand and successful acquisition of new customers, particularly in the dairy and beef sectors.
- Strategic Shift: ImmuCell has decided to pause investments in Re-Tain®, anticipating a $2.9 million non-cash impairment write-down, while reallocating resources to First Defense® to enhance future production capacity and market share.
See More
ImmuCell Shifts Focus to First Defense Product Line Ahead of Q4 Sales Call
- Strategic Shift: ImmuCell announced on December 24, 2025, its strategic pivot from Re-Tain® to First Defense®, aiming to enhance cattle health and productivity, which is expected to strengthen its competitive position in the market.
- Financial Disclosure: The company plans to release its unaudited sales results for Q4 and the full year of 2025 after market close on January 8, 2026, providing investors with insights into its financial health.
- Investor Call: ImmuCell will host a conference call on January 9, 2026, at 9:00 AM ET to discuss its strategic shift and sales results, which is anticipated to attract investor interest and bolster market confidence.
- Future Plans: The company also intends to release its complete financial results on February 25, 2026, followed by another conference call on February 26, demonstrating its commitment to transparency and future growth prospects.
See More
ImmuCell Pauses Re-Tain Investment, Focuses on First Defense Expansion
- FDA Incomplete Letter: ImmuCell received an Incomplete Letter from the FDA regarding its Re-Tain New Animal Drug Application, indicating that the contract manufacturer failed to address inspection deficiencies, which negatively impacts the company's future market access and product promotion.
- Investment Strategy Shift: Considering the impending expiration of its contract with the manufacturer in March 2026, ImmuCell has decided to pause further investment in Re-Tain and instead increase its investment in the First Defense franchise to adapt to market demand changes and enhance product competitiveness.
- Sales Force Expansion: The company plans to increase its First Defense field sales force by 50%, aiming to enhance market penetration and sales capabilities, thereby positioning itself more favorably in the competitive animal health market.
- Asset Impairment Expectation: Due to the strategic shift, ImmuCell anticipates recording a non-cash impairment write-down of approximately $2.3 million in the fourth quarter of 2025, which may impact the company's financial performance and investor confidence.
See More
ImmuCell Pauses Re-Tain® Investment, Expands First Defense® Sales Force by 50%
- FDA Approval Update: On December 23, 2025, ImmuCell received an Incomplete Letter from the FDA regarding its Re-Tain® New Animal Drug Application, indicating that despite obtaining Complete Letters for four of the five Technical Sections, the company faces delays in market launch due to unresolved inspection deficiencies with its contract manufacturer.
- Sales Force Expansion: In response to the FDA's approval delays, ImmuCell has decided to increase its First Defense® sales force by 50%, aiming to capture a larger share of the estimated $900 million global market for preventing scours in calves, thereby enhancing its competitive position.
- Financial Impact: ImmuCell anticipates recording a non-cash impairment write-down of approximately $2.3 million in Q4 2025, primarily related to Re-Tain® assets, which will affect short-term profitability but allow for resource reallocation towards expanding First Defense® capacity.
- Long-term Strategic Shift: By pausing further investment in Re-Tain®, ImmuCell is focusing on its market-leading First Defense® franchise, which is projected to grow from $4.4 million to $27.8 million in annual revenue, reflecting a compounded annual growth rate of over 13%, thereby enhancing shareholder value potential.
See More
AbbVie Launches New Immunology Drugs, Stock Up 31.6% Over Last Year
- New Drug Launch: AbbVie has successfully launched two new immunology drugs, Skyrizi and Rinvoq, which are expected to support revenue growth in the coming years following Humira's loss of exclusivity.
- Market Performance: AbbVie’s stock has risen 31.6% over the past year, significantly outperforming the 19.5% growth of the large-cap pharmaceuticals industry, indicating strong competitive positioning.
- Acquisition Strategy: The company has engaged in a series of acquisitions over the past few years to bolster its early-stage pipeline, aiming for long-term growth despite challenges from Humira's patent expiration.
- Diversified Product Line: AbbVie's oncology and neuroscience drugs are also contributing to revenue growth, further solidifying its position in the pharmaceutical industry.
See More
ImmuCell Pauses Re-Tain® Investment, Expands First Defense® Sales Force by 50%
- FDA Review Update: On December 23, 2025, ImmuCell received an Incomplete Letter from the FDA regarding its Re-Tain® New Animal Drug Application, necessitating a pause in further investment and a strategic pivot towards First Defense® to meet market demands.
- Sales Force Expansion: The company plans to increase its First Defense® sales force by 50%, leveraging its market leadership in calf scour prevention, which is expected to drive future revenue growth in the estimated $900 million global market.
- Financial Impact Anticipation: ImmuCell expects to record a non-cash impairment write-down of approximately $2.3 million in Q4 2025, primarily due to the net book value of Re-Tain® assets being around $15.5 million, reflecting financial pressures amid strategic adjustments.
- Market Leadership Position: First Defense® holds a 29% share in the U.S. market and ranked #1 in the 2025 Hoard’s Dairyman market study, indicating strong growth potential in the dairy sector and anticipated international market expansion.
See More
ImmuCell Reports $27.6M Sales in 2025, Significant Growth in Tri-Shield®
- Sales Overview: ImmuCell reported $7.6 million in sales for Q4 2025, a 1.6% decline from Q4 2024, yet total sales for the year reached $27.6 million, reflecting a 4.3% increase, indicating ongoing progress in rebuilding market position.
- Domestic Market Performance: Domestic sales hit $24.4 million in 2025, a 6.5% increase, showcasing robust growth in the U.S. market despite a 9.6% decline in international sales, highlighting the company's focus on domestic strength.
- Product Line Growth: Sales for the Tri-Shield® product line reached $19.9 million, up 26.5%, demonstrating strong demand and successful acquisition of new customers, particularly in the dairy and beef sectors.
- Strategic Shift: ImmuCell has decided to pause investments in Re-Tain®, anticipating a $2.9 million non-cash impairment write-down, while reallocating resources to First Defense® to enhance future production capacity and market share.
See More
ImmuCell Shifts Focus to First Defense Product Line Ahead of Q4 Sales Call
- Strategic Shift: ImmuCell announced on December 24, 2025, its strategic pivot from Re-Tain® to First Defense®, aiming to enhance cattle health and productivity, which is expected to strengthen its competitive position in the market.
- Financial Disclosure: The company plans to release its unaudited sales results for Q4 and the full year of 2025 after market close on January 8, 2026, providing investors with insights into its financial health.
- Investor Call: ImmuCell will host a conference call on January 9, 2026, at 9:00 AM ET to discuss its strategic shift and sales results, which is anticipated to attract investor interest and bolster market confidence.
- Future Plans: The company also intends to release its complete financial results on February 25, 2026, followed by another conference call on February 26, demonstrating its commitment to transparency and future growth prospects.
See More
ImmuCell Pauses Re-Tain Investment, Focuses on First Defense Expansion
- FDA Incomplete Letter: ImmuCell received an Incomplete Letter from the FDA regarding its Re-Tain New Animal Drug Application, indicating that the contract manufacturer failed to address inspection deficiencies, which negatively impacts the company's future market access and product promotion.
- Investment Strategy Shift: Considering the impending expiration of its contract with the manufacturer in March 2026, ImmuCell has decided to pause further investment in Re-Tain and instead increase its investment in the First Defense franchise to adapt to market demand changes and enhance product competitiveness.
- Sales Force Expansion: The company plans to increase its First Defense field sales force by 50%, aiming to enhance market penetration and sales capabilities, thereby positioning itself more favorably in the competitive animal health market.
- Asset Impairment Expectation: Due to the strategic shift, ImmuCell anticipates recording a non-cash impairment write-down of approximately $2.3 million in the fourth quarter of 2025, which may impact the company's financial performance and investor confidence.
See More
ImmuCell Pauses Re-Tain® Investment, Expands First Defense® Sales Force by 50%
- FDA Approval Update: On December 23, 2025, ImmuCell received an Incomplete Letter from the FDA regarding its Re-Tain® New Animal Drug Application, indicating that despite obtaining Complete Letters for four of the five Technical Sections, the company faces delays in market launch due to unresolved inspection deficiencies with its contract manufacturer.
- Sales Force Expansion: In response to the FDA's approval delays, ImmuCell has decided to increase its First Defense® sales force by 50%, aiming to capture a larger share of the estimated $900 million global market for preventing scours in calves, thereby enhancing its competitive position.
- Financial Impact: ImmuCell anticipates recording a non-cash impairment write-down of approximately $2.3 million in Q4 2025, primarily related to Re-Tain® assets, which will affect short-term profitability but allow for resource reallocation towards expanding First Defense® capacity.
- Long-term Strategic Shift: By pausing further investment in Re-Tain®, ImmuCell is focusing on its market-leading First Defense® franchise, which is projected to grow from $4.4 million to $27.8 million in annual revenue, reflecting a compounded annual growth rate of over 13%, thereby enhancing shareholder value potential.
See More
AbbVie Launches New Immunology Drugs, Stock Up 31.6% Over Last Year
- New Drug Launch: AbbVie has successfully launched two new immunology drugs, Skyrizi and Rinvoq, which are expected to support revenue growth in the coming years following Humira's loss of exclusivity.
- Market Performance: AbbVie’s stock has risen 31.6% over the past year, significantly outperforming the 19.5% growth of the large-cap pharmaceuticals industry, indicating strong competitive positioning.
- Acquisition Strategy: The company has engaged in a series of acquisitions over the past few years to bolster its early-stage pipeline, aiming for long-term growth despite challenges from Humira's patent expiration.
- Diversified Product Line: AbbVie's oncology and neuroscience drugs are also contributing to revenue growth, further solidifying its position in the pharmaceutical industry.
See More
ImmuCell Pauses Re-Tain® Investment, Expands First Defense® Sales Force by 50%
- FDA Review Update: On December 23, 2025, ImmuCell received an Incomplete Letter from the FDA regarding its Re-Tain® New Animal Drug Application, necessitating a pause in further investment and a strategic pivot towards First Defense® to meet market demands.
- Sales Force Expansion: The company plans to increase its First Defense® sales force by 50%, leveraging its market leadership in calf scour prevention, which is expected to drive future revenue growth in the estimated $900 million global market.
- Financial Impact Anticipation: ImmuCell expects to record a non-cash impairment write-down of approximately $2.3 million in Q4 2025, primarily due to the net book value of Re-Tain® assets being around $15.5 million, reflecting financial pressures amid strategic adjustments.
- Market Leadership Position: First Defense® holds a 29% share in the U.S. market and ranked #1 in the 2025 Hoard’s Dairyman market study, indicating strong growth potential in the dairy sector and anticipated international market expansion.
See More
