Key Points – ImmuCell posted a record Q1 2026, with product sales of about $10.4 million, up 28.4% year over year, and net income rising 34% to $1.9 million.
Gross margin improved to 45%, reflecting better pricing and manufacturing performance. – The company said its narrowed focus on the First Defense calf scours prevention business is paying off, with Tri-Shield sales up 38.5% and U.S. market share gains in both dollars and animals treated
Management believes First Defense drove most of the category’s growth in the quarter. – Manufacturing output improved significantly, reaching more than 450,000 units per month as ImmuCell reduced waste, added overtime, and made targeted equipment investments. The company is also using a $2 million settlement and other resources to expand capacity while pursuing domestic and international growth opportunities. ImmuCell (NASDAQ:ICCC) reported a record first quarter of 2026, with management saying the company’s narrowed focus on its First Defense calf scours prevention portfolio helped drive its first-ever quarter above $10 million in product sales.
President and Chief Executive Officer Olivier te Boekhorst said the company is beginning to see results from strategic changes made in 2025, including a sharper focus on the calf scours market, leadership investments and manufacturing yield improvements. “We achieved our first-ever $10 million revenue quarter, which is an exciting milestone for our commercial team and our manufacturing team,” te Boekhorst said. He added that ImmuCell also achieved 45% gross margins despite costs tied to legacy Re-Tain assets that shifted from product development expense to cost of goods sold. First-quarter sales and earnings rise Chief Financial Officer Timothy Fiori said product sales for the quarter ended March 31, 2026, were approximately $10.4 million, up 28.4% from what had been a record first quarter in 2025.