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ISPC on Nasdaq

iSpecimen Inc.

ISpecimen Inc. is an American commercial physical and biological research services company.1 It is headquartered in Woburn, Massachusetts.1 Its shares trade on Nasdaq under the symbol ISPC.1

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Last updated Oct 21, 2026.

Overview

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  • TickerISPC on Nasdaq1
  • IndustryServices-Commercial Physical & Biological Research1
  • HeadquartersWoburn, Massachusetts1
  • Incorporated inDE2
  • Business address8 Cabot Road, Suite 1800, Woburn, Ma 081012
  • Filer category, Emerging growth company2
  • Legal formCorporation

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These insights help researchers assess feasibility, plan studies, and make more informed budgeting decisions.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-465.4%Operating margin4
-543.7%Net margin4
-79.2%Revenue growth, 20254
-339.6%Return on equity4
-$4.2MFree cash flow4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Product brought in 90% of the revenue iSpecimen Inc. broke down this way in fiscal 2025.

  1. Product$1.7M490%down 81% from 2024
  2. Shipping and Handling$194.0K410%up 4% from 2024
Products and services by year
Products and services20242025
Product$9.1M$1.7M
Shipping and Handling$186.2K$194.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue89¢$1.7M
  • Other costs11¢$215.7K

Out of $1.9M in revenue.4 The company lost money this year.

Financial statements

Revenue5674$1.9M in 2025−76% since 2020
0$5.0M$10.0M$15.0M2020: $8.2M$8.2M20202021: $11.1M$11.1M2021+36%2022: $10.4M$10.4M2022−7%2023: $9.9M$9.9M2023−5%2024: $9.3M$9.3M2024−6%2025: $1.9M$1.9M2025−79%
Operating income56784-$9.0M in 2025+273% since 2020
-$15.0M-$10.0M-$5.0M02020: -$2.4M-$2.4M20202021: -$5.9M-$5.9M2021+146%2022: -$10.2M-$10.2M2022+72%2023: -$11.2M-$11.2M2023+10%2024: -$12.7M-$12.7M2024+14%2025: -$9.0M-$9.0M2025−29%
Net income56784-$10.5M in 2025+125% since 2020
-$15.0M-$10.0M-$5.0M02020: -$4.7M-$4.7M20202021: -$9.0M-$9.0M2021+93%2022: -$10.2M-$10.2M2022+14%2023: -$11.1M-$11.1M2023+8%2024: -$12.5M-$12.5M2024+13%2025: -$10.5M-$10.5M2025−16%

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
Revenue$1.9M$9.3M
Cost of revenue$1.9M$5.3M
Technology$2.2M$3.5M
Sales and marketing$2.3M$4.9M
Supply development$247.0K$537.9K
Fulfillment$827.5K$1.6M
General and administrative$3.5M$6.1M
Total operating expenses$10.9M$22.0M
Loss from operations-$9.0M-$12.7M
Interest expense-$1.9K-$173.8K
Interest income$3.7K$44.1K
Interest and penalties on sales tax liability-$8.0K-$46.3K
Other income (expense), net-$1.5M$406.2K
Total other income, net-$1.5M$230.2K
Net loss-$10.5M-$12.5M
Unrealized loss on available-for-sale securities-$840
Total other comprehensive loss-$840
Comprehensive loss-$10.5M-$12.5M
Net loss per share - basic (in Dollars per share)-$2.28-$17.58
Net loss per share - diluted (in Dollars per share)-$2.28-$17.58
Weighted average shares of common stock outstanding - basic (in Shares)4.6M shares710.9K shares
Weighted average shares of common stock outstanding - diluted (in Shares)4.6M shares710.9K shares

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Corporate structure

iSpecimen Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of iSpecimen Inc.

  • OBF Investments, LLC Filed SCHEDULE 13G/A on iSpecimen Inc., latest Feb 14, 2025 (4 filings since Feb 14, 2022)
  • Wolf James G. Filed SCHEDULE 13G/A on iSpecimen Inc., latest Jul 9, 2024 (3 filings since Sep 28, 2022)
  • Andrew L. Ross Filed SC 13D on iSpecimen Inc., latest Apr 17, 2023 (2 filings since Feb 7, 2022)
  • Empery Asset Management, LP Filed SC 13G/A on iSpecimen Inc., latest Jan 12, 2023 (2 filings since Jan 24, 2022)
  • Bleichroeder LP Filed SC 13G/A on iSpecimen Inc., latest Feb 14, 2022
  • iSpecimen Inc. Woburn, Massachusetts

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What iSpecimen Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$436.1K4 Dec 31, 2025$435.6K4 Dec 31, 2024+0.1%
Accumulated depreciation$410.5K4 Dec 31, 2025$342.1K4 Dec 31, 2024+20.0%
Property and equipment, net$25.5K4 Dec 31, 2025$93.6K4 Dec 31, 2024−72.7%
Operating-lease assets (leased space)$269.2K4 Dec 31, 2025$328.0K4 Dec 31, 2024−17.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$6.9M4 Dec 31, 2025$1.9M4 Dec 31, 2024+266.3%

Inventory

ItemLatestA year beforeChange
Inventory, total$45.1K4 Dec 31, 2024

Properties, in its own words

Our principal executive office is located in 8 Cabot Road, Woburn, Massachusetts.

We occupy approximately 2,273 square feet of office and laboratory space in Woburn, Massachusetts under a lease that expires on October 30, 2029. Our laboratory is subject to applicable federal and state laws and regulations relating to the safe handling of laboratory specimens along with biohazard disposal, and we utilize an outside medical and biohazard disposal company for disposal of such specimens. We believe our existing facilities meet our current needs. We will need additional office space in the future as we continue to build our development, commercial and support teams. We believe we can find suitable additional space in the future on commercially reasonable terms.

Item 2 of the 10-K filed Apr 1, 2026.3

Leadership

Who has led iSpecimen Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Christopher Ianelli2021–2022
  2. Tracy Curley2022–2023

President

  1. Christopher Ianelli2021–2022

Chief financial officer

  1. Tracy Curley2021–2023
  2. Yuying Liang2025–now

Chief operating officer

  1. Jill Mullan2021–2022
2025
Board members and other officers (16)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerRobert Bradley Lim named Aug 6, 202530
  • DirectorAnthony Lau named Jan 5, 2026 to May 14, 202631
  • DirectorSiyun Yang named Jan 5, 202632
  • DirectorAnthony Bradley Lau named Aug 6, 202530
  • DirectorSiyun Bradley Yang named Aug 6, 202530

Timeline

  1. Oct 9, 20268-K Shareholder vote33
  2. Sep 10, 20268-K Listing notice or transfer34
  3. Sep 4, 20268-K Entered a material agreement35
  4. Aug 31, 20268-K Executive or director change36
  5. Aug 14, 20268-K Entered a material agreement37
  6. Aug 11, 20268-K Entered a material agreement; Ended a material agreement38
  7. Aug 7, 20268-K Entered a material agreement; Regulation FD disclosure39
  8. Jul 14, 20268-K Other events40
  9. Jun 1, 20268-K Listing notice or transfer41
  10. May 29, 20268-K Shareholder vote42
  11. May 13, 20268-K Entered a material agreement; Listing notice or transfer; Unregistered sale of shares43
  12. May 1, 20268-K Bylaws or fiscal year changed; Other events44
  13. Nov 4, 2022New chief executive Tracy Curley becomes CEO11
  14. Jun 17, 2021New chief executive Christopher Ianelli becomes CEO12

Calendar

Coming up

  1. Nov 16, 2026Reports results for the quarter ending Sep/202645

When it reported results

  1. Aug 6, 2024Reported quarterly or annual results46
  2. May 7, 2024Reported quarterly or annual results47
  3. Mar 14, 2024Reported quarterly or annual results48
  4. Nov 2, 2023Reported quarterly or annual results49
  5. Oct 23, 2023Reported quarterly or annual results50
  6. Aug 2, 2023Reported quarterly or annual results51
  7. May 4, 2023Reported quarterly or annual results52
  8. Mar 14, 2023Reported quarterly or annual results53

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

284 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 86 major events, 58 insider forms, 12 large holders, 4 private raises, 103 other. The latest 20:

  1. Oct 9, 2026PRER14A PROXY STATEMENT EDGAR
  2. Oct 9, 20268-K CURRENT REPORT EDGAR
  3. Sep 14, 2026DEF 14A PROXY STATEMENT EDGAR
  4. Sep 10, 20268-K CURRENT REPORT EDGAR
  5. Sep 4, 2026PRE 14A PROXY STATEMENT EDGAR
  6. Sep 4, 20268-K CURRENT REPORT EDGAR
  7. Aug 31, 20268-K CURRENT REPORT EDGAR
  8. Aug 14, 20268-K CURRENT REPORT EDGAR
  9. Aug 14, 202610-Q QUARTERLY REPORT EDGAR
  10. Aug 11, 20268-K CURRENT REPORT EDGAR
  11. Aug 7, 20268-K CURRENT REPORT EDGAR
  12. Aug 7, 2026424B4 PROSPECTUS EDGAR
  13. Jul 30, 2026EFFECT EDGAR
  14. Jul 17, 2026S-1/A AMENDMENT NO. 2 TO FORM S-1 EDGAR
  15. Jul 14, 20268-K CURRENT REPORT EDGAR
  16. Jul 6, 2026S-1/A AMENDMENT NO. 1 TO FORM S-1 EDGAR
  17. Jun 24, 2026S-1 REGISTRATION STATEMENT EDGAR
  18. Jun 22, 2026DRS/A EDGAR
  19. Jun 17, 2026EFFECT EDGAR
  20. Jun 15, 2026CORRESP EDGAR

The 284 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

8 open-market trades by officers, directors and large owners since October 2021: 8 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 14, 2023Bielak BenjaminChief Info Officer & SecretaryBuy18,000$0.72$13.0KForm 4
May 31, 2023Curley TracyCEO, CFO and TreasurerBuy4,400$1.25$5.5KForm 4
Nov 17, 2021Curley TracyCEO, CFO and TreasurerBuy2,000$5.12$10.2KForm 4
Nov 16, 2021DirectorBuy1,000$5.19$5.2KForm 4
Nov 16, 2021Curley TracyCEO, CFO and TreasurerBuy8,000$5.23$41.8KForm 4
Nov 15, 2021DirectorBuy1,000$5.29$5.3KForm 4
Nov 10, 2021DirectorBuy500$5.85$2.9KForm 4
Nov 8, 2021DirectorBuy1,000$5.73$5.7KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. May 11, 2026Raised $2.5 million in a private offering of equity Form D: 2 investors so far Form D
  2. Dec 30, 2025Raised $5.5 million in a private offering of equity Form D: 3 investors so far Form D
  3. Aug 1, 2025Raised $1.8 million in a private offering of equity Form D: 4 investors so far Form D
  4. Dec 1, 2021Raised $21 million in a private offering of equity Form D: 4 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
UBS Group AG32,037$84.9K0.0%New
Jane Street Group, LLC24,414$64.7K0.0%New
Tower Research Capital LLC (TRC)219$5800.0%New
IFP Advisors, Inc200$5300.0%New
BlackRock, Inc.71$1880.0%New
Vanguard Capital Management LLC31$820.0%New
Caitong International Asset Management Co., Ltd2$50.0%New
SBI Securities Co., Ltd.1$30.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How iSpecimen Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARiSpecimen Inc.1
  • CIK0001558569
  • Employer ID (EIN)27-04801433
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)8731 Services-Commercial Physical & Biological Research1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business address8 Cabot Road, Suite 1800, Woburn, MA 081011
  • Phone781-301-67001
  • Shares outstanding2,518,590 as of Aug 14, 202610
  • Public float$2.4M as of Jun 30, 20253
  • AuditorBush & Associates CPA LLC, Las Vegas, Nevada PCAOB ID 6797; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceSep 25, 20121
  • Filings329 in all: 8-K (88), 4 (40), CORRESP (25), 3 (17), 10-Q (16), S-1/A (16), UPLOAD (15), 5 (14)1
    All 36 form types

    EFFECT (11), D (8), 424B3 (6), DEF 14A (6), PRE 14A (6), S-1 (6), 10-K (5), DEFA14A (5), PRER14A (5), S-3 (5), SC 13G (5), SC 13G/A (5), 424B4 (4), NT 10-Q (3), 8-K/A (2), ARS (2), NT 10-K (2), SCHEDULE 13G/A (2), 10-K/A (1), 424B5 (1), 8-A12B (1), CERT (1), DRS (1), DRS/A (1), FWP (1), POS AM (1), S-8 (1), SC 13D (1)

  • Latest filingsAnnual report (10-K) Apr 1, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Proxy statement (DEF 14A) Sep 14, 2026
    Latest 8-K (8-K) Oct 9, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.0001 per shareISPCNasdaq

From the cover page of the 10-K filed Apr 1, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks iSpecimen Inc. names in Item 1A of its 10-K filed Apr 1, 2026: 74 risks under these headings, as written.3

  • Risks Related to Our Business
  • We have incurred losses since inception and anticipate that we will continue to incur losses for the foreseeable future. We are not currently profitable, and we may never achieve or sustain profitability.
  • There is substantial doubt about our ability to continue as a going concern.
  • During the year ended December 31, 2025, we identified a material weakness in our internal control over financial reporting that may cause us to fail to meet our reporting obligations or result in material misstatements of our financial statements. If we fail to remediate this material weakness or if we otherwise fail to establish and maintain effective control over financial reporting, our ability to accurately and timely report our financial results could be adversely affected.
  • We may likely require additional capital in the future and an inability to meet future capital needs could adversely impact our ability to operate.
  • Our revenue trend is not predictive which can lead to difficulty in accurately forecasting future results.
  • Our growth strategy may not prove viable and we may not realize expected results.
  • International operation expansion could expose us to additional risks which could harm our business, prospects, results of operation, and financial condition.
  • We, or the third parties who provide services for us, may be adversely affected by external events for which our business continuity plans may not adequately prepare us.
  • We rely upon our technology solution for the operation of our business and if our technology platform contains defects or fails to perform as expected, we may need to suspend its availability and divert development resources, and our business and reputation may be harmed.
  • Sustainable future revenue growth is dependent upon the development of technology solutions that enable scale and address new markets.
  • Our platform may become technologically obsolete or commoditized.
The other 63 risks
  • If our security measures are breached, or if our services are subject to attacks that degrade or deny the ability of users to access our platforms, our platforms and applications may be perceived as not being secure, customers and suppliers may curtail or stop using our services, and we may incur significant legal and financial exposure.
  • Changes in demand for our products and services could affect profitability.
  • We incur credit risk with our customers, and we may provide them with products and services for which we do not get paid.
  • Our customer mix increases the risk of customers not paying our invoices.
  • We rely upon relatively few customers for a significant portion of revenue and do not have a recurring revenue business model. A loss of large customers could affect our ability to operate.
  • Customers and customer prospects may be averse to using a self-service marketplace to procure specimens and may continue to require iSpecimen personnel in the procurement process, impacting our scalability and profitability.
  • Our business may be materially and adversely impacted by the reduction, delay or cancellation of orders from our customers.
  • We have entered into contracts with U.S. government agencies and contractors which subjects us to federal contract and audit risks.
  • Sustainable future revenue growth is dependent on growth in the capabilities of our supply network which we may not be able to achieve.
  • Sustainable future revenue growth is dependent upon gaining access to more healthcare data from our supply network and a failure to obtain this data may adversely affect our growth.
  • The adoption cycle of our supply network tends to be very lengthy, which may adversely affect our ability to scale rapidly and increase revenues.
  • Potential adverse effects from changes in the healthcare industry, including consolidations and regulatory changes, could affect access to subjects, samples, and data and affect our growth.
  • Our supply chain may not provide adequate resources to quickly respond to requests for specimens and delays in the procurement process can affect our reputation, revenue, and profitability.
  • We do not control the end-to-end quality of specimens and data collected in our supply chain and quality issues can affect our reputation, revenue, and profitability.
  • Reliance on relatively few supply partners for significant supplies and services could affect our ability to operate and grow.
  • Our supply partners’ inventories may become obsolete, which could have a material adverse effect upon our ability to generate revenue.
  • Specimen collection from human subjects, including the possible occurrence of adverse events during or after tissue collection, could provide exposure to claims and litigation.
  • We procure specimens and data from organizations outside of the U.S. and as such, we rely upon these organizations to collect and distribute specimens and data in accordance with their local regulations as well as our contractual requirements. A failure by our sites to comply with both applicable regulations and our contractual requirements could introduce us to compliance risk.
  • We may experience delays or interruption in the shipments of our specimens due to factors outside of our control, and such disruption could lead to lost revenue and customer satisfaction issues.
  • Our future success depends on our ability to retain our key personnel and to attract, retain and motivate qualified personnel.
  • Our senior management team has limited experience managing a public company.
  • Our competitors may have greater resources than us and may outspend us to grow more quickly.
  • We may lose business to competitors which have or develop their own biorepositories and/or collection centers that can meet customers’ needs.
  • We may face pricing pressure from competitors who may lower prices to reduce biorepository inventories or because they have more favorable specimen acquisition costs.
  • Our overall business results may suffer from an economic downturn.
  • Our results of operations and financial condition may be adversely impacted from high inflation rates.
  • Our timely fulfillment of customer orders may be adversely impacted due to constraints in the supply chain.
  • We may have difficulty managing growth in our business, which could adversely affect our financial condition and results of operations.
  • We have incurred losses from sales tax obligations owed to various jurisdictions by us because we did not collect taxes on taxable sales in prior years, and we may never be able to recover the prior sales taxes from the customers.
  • Our ability to utilize net operating loss carryforwards may be limited, resulting in income taxes sooner than currently anticipated.
  • We may acquire other businesses, products, or technologies that could disrupt our business, reduce our financial resources, or cause dilution to our stockholders.
  • We may incur significant debt, and our governing documents contain no limit on the amount of debt we may incur.
  • A failure to comply with restrictive covenants in the Purchase Agreement or our other financing arrangements would have a material adverse effect on us, and any future financings may require us to provide additional collateral or pay down debt.
  • Risks Related to Intellectual Property
  • We use third-party technology licenses as part of our technology solution.
  • We use open source licenses as part of our technology solution, which may subject us to claims from third parties claiming ownership and unauthorized use.
  • We may become subject to third parties’ claims alleging infringement of their patents and proprietary rights, which could be costly, time consuming, and prevent the use of our technology solution.
  • We do not have any patents protecting our intellectual property and if we are unable to protect the confidentiality of our trade secrets, know-how and other proprietary and internally developed technology, our business could be adversely affected.
  • Risks Related to Regulatory Environment
  • Failure to comply with federal and state data protection regulations could result in fines, penalties, and litigation, and have a material adverse effect upon our business.
  • Failure to comply with international laws related to data protection, such as the General Data Protection Regulation (“GDPR”) could result in fines, penalties, and litigation, and have a material adverse effect upon the Company’s business.
  • Failure to comply with federal and state laws around environmental, health and safety, biohazards and dangerous goods, and imports/exports could result in fines, penalties, and litigation, and have a material adverse effect upon our business.
  • Failure to comply with other international laws around environmental, health and safety, biohazards and dangerous goods, imports/exports, and other regulations could result in fines, penalties, and litigation, and have a material adverse effect upon our business.
  • Failure to comply with laws and regulations related to the protection of research subjects could result in fines, penalties, and litigation, and have a material adverse effect upon our business.
  • Our failure to comply with other laws and regulations related to our business operations also have a material adverse effect upon our business.
  • Failure to comply with governmental export and import regulations could result in fines, penalties, and litigation, and have a material adverse effect upon the Company’s business.
  • Product safety and product liability, including bio-hazard risks, could provide exposure to claims and litigation.
  • Risks Related to Our Securities
  • There can be no assurance that an active and liquid trading market for our common stock will continue or that we will be able to continue to comply with Nasdaq’s continued listing standards.
  • We are not in compliance with Nasdaq’s minimum bid price requirement, and our common stock may be delisted if we fail to regain compliance.
  • In the event that our common stock is delisted from Nasdaq, U.S. broker-dealers may be discouraged from effecting transactions in shares of our common stock because it may be considered a penny stock and thus be subject to the penny stock rules.
  • The sale of substantial shares of our common stock may depress our stock price.
  • Our directors, officers and principal stockholders have significant voting power and may take actions that may not be in the best interests of our other stockholders.
  • Certain provisions of our certificate of incorporation, as amended, and our bylaws, as amended, may make it more difficult for a third party to affect a change-of-control.
  • Our bylaws, as amended, designate certain courts as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or employees.
  • Limitations on director and officer liability and indemnification of our officers and directors by us may discourage stockholders from bringing suit against an officer or director.
  • We are responsible for the indemnification of our officers and directors.
  • We do not expect to pay dividends in the foreseeable future. Any return on investment may be limited to the value of our common stock.
  • We may need additional capital, and the sale of additional shares of common stock or other equity securities could result in additional dilution to our stockholders.
  • Our quarterly revenue tends to fluctuate, making it harder to forecast and meet investor expectations.
  • Our stock price may be volatile.
  • General Risk Factors
  • Our status as an “emerging growth company” under the JOBS Act may make it more difficult to raise capital when we need to do it or make our common stock less attractive to investors.
  • We have limited insurance which may not cover claims by third parties against us or our officers and directors.
  • The requirements of being a U.S. public company may strain our resources and divert management’s attention.
  • Evaluation of internal control and remediation of potential problems will be costly and time consuming and could expose weaknesses in financial reporting.
  • Public company compliance may make it more difficult to attract and retain officers and directors.

Legal proceedings

To the knowledge of our management team, there is no material litigation, arbitration or governmental proceeding currently pending against us or any members of our management team in their capacity as such, other than the matter described below. We may from time to time be involved in various legal proceedings and other matters arising in the normal course of business. We may in the future institute additional legal proceedings to enforce our rights and seek remedies, such as monetary damages, injunctive relief and declaratory relief. We cannot predict the results of any such disputes, and despite the potential outcomes, the existence thereof may have an adverse material impact on us because of diversion of management time and attention as well as the financial costs related to resolving such disputes.

Focus Technology Solutions, Inc. v. iSpecimen,; Suffolk (MA) Superior Court

On December 9, 2024, Focus Technologies, Inc. (“Focus”) filed a complaint against the Company in the Superior Court of Suffolk County, Massachusetts, alleging non-payment under agreements dated July 29, 2022, related to the provision of information technology services. Focus is seeking approximately $489,572 in damages, plus interest and attorneys’ fees. Following the filing, Focus disabled the Company’s web-based commerce platform on January 24, 2025, resulting in a shutdown of the iSpecimen Marketplace from January 25, 2025, through February 12, 2025, which was not fully resolved until early March 2025.

The opening of Item 3, Legal Proceedings.3

Sources

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