iSpecimen Inc 2026年季度报告

FORM10-Q (Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2026 Commission File No. 001-40501 iSpecimenInc.(Exact name of registrant as specified in its charter) Name of Each Exchange on WhichRegistered Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the SecuritiesExchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports),and (2)has been subject to such filing requirements for the past 90days.☒Yes☐No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that theregistrant was required to submit such files).☒Yes☐No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reportingcompany,” and “emerging growth company” in Rule12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No☒ As of May 15, 2026, there were 1,437,157 shares of common stock, par value $0.0001 per share, of the registrant issued andoutstanding. iSPECIMEN INC.FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2026 TABLE OF CONTENTS PagePARTI- FINANCIAL INFORMATION1ITEM1.Financial Statements1Condensed Balance Sheets as of March 31, 2026 (Unaudited) and December31, 20251Unaudited Condensed Statements of Operations and Comprehensive Loss for the Three Months Ended March 31,2026 and 2025.2Unaudited Condensed Statements of Changes in Stockholders’ Equity for the Three Months Ended March 31, 2026and 2025.3Unaudited Condensed Statements of Cash Flows for the Three Months Ended March 31, 2026 and 20255Notes to Unaudited Condensed Financial Statements6ITEM2.Management’s Discussion and Analysis of Financial Condition and Results of Operations24ITEM3.Quantitative and Qualitative Disclosures About Market Risk35ITEM4.Controls and Procedures35PARTII– OTHER INFORMATION37ITEM1.Legal Proceedings37ITEM1A.Risk Factors38ITEM 2.Unregistered Sales of Equity Securities and Use of Proceeds38ITEM 3.Defaults Upon Senior Securities38ITEM 4.Mine Safety Disclosures38ITEM 5.Other Information38ITEM 6.Exhibits39SIGNATURES40 PART I – FINANCIAL INFORMATION iSpecimenInc.Condensed Balance Sheets ASSETS Stockholders’ equityCommon stock, $0.0001 par value, 200,000,000 shares authorized, 741,595 issued and 741,556outstanding at March 31, 2026 and 212,004 issued and 211,965 outstanding atDecember31,20252,967848Series C convertible preferred stock, $0.0001par value50,000,000shares authorized,3,045 issuedand outstanding at March 31, 2026 and6,875issued and outstanding as at December 31, 2025—1Additional paid-in capital85,436,61385,437,703Treasury stock, 39 shares at March 31, 2026 and December 31, 2025, at cost(172)(172)Accumulated deficit(84,625,370)(82,350,149)Total stockholders’ equity814,0383,088,231Total liabilities and stockholders’ equity$6,609,658$9,531,410 iSpecimenInc.Condensed Statements of Operations and Comprehensive Loss(Unaudited) Three Months EndedMarch 31, 20262025Revenue$156,009$1,057,510Operating expenses:Cost of revenue84,410657,279Technology247,549545,367Sales and marketing1,542,297347,140Supply development34,01793,681Fulfillment105,724293,766General and administrative680,415758,666Total operating expenses2,694,4122,695,899 iSpecimenInc.Condensed Statements of Changes in Stockholders’ Equity(Unaudited) iSpecimenInc.Condensed Statements of Changes in Stockholders’ Equity(Unaudited) iSpecimenInc.Condensed Statements of Cash Flows(Unaudited) CASH FLOWS FROM OPERATING ACTIVITIES: iSpecimenInc.Notesto Unaudited Condensed Financial Statements 1. NATURE OF BUSINESS AND BASIS OF PRESENTATION Business iSpecimen Inc. (“iSpecimen” or the “Company”) was incorporated in 2009 under the laws of the state of Delaware. The Company hasdeveloped and launched a proprietary online marketplace platform that connects medical researchers who need access to subjects,samples, and data, with hospitals, laboratories, and other organizations who have access to them. iSpecimen is a technology-drivencompany founded to address a critical challenge: how to connect life science researchers who need human biofluids, tissues, and livingcells (“biospecimens”) for their research, with biospecimens available (but not easily acces