ImmuCell Announces Preliminary, Unaudited Sales Results For Q3 2023; Sees Q3 Revenue $5.4M Vs 4.8M YoY
Portfolio Pulse from Happy Mohamed
ImmuCell Corporation (ICCC) announced preliminary, unaudited sales results for Q3 2023, with revenues of $5.4M, up from $4.8M YoY. However, sales for the nine-month and twelve-month periods ended September 30, 2023, lagged behind the comparable periods in 2022. The company's backlog of orders increased to approximately $8.9 million as of September 30, 2023, up from $2.5 million as of December 31, 2022.
October 05, 2023 | 8:11 pm
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ImmuCell's Q3 2023 revenues increased YoY, but sales for the nine-month and twelve-month periods lagged behind 2022. The company's backlog of orders has significantly increased.
While ImmuCell's Q3 2023 revenues have increased YoY, the lag in sales for the nine-month and twelve-month periods compared to 2022 could be a concern for investors. However, the significant increase in the backlog of orders indicates strong demand for the company's products, which could potentially boost future revenues.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100