Slide 1: Second Quarter 2026 Financial Results
Second Quarter 2026 Financial Results August 14, 2026 Nasdaq: ICCC
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and will ofte
Slide 3: Unaudited Statements of Income
Unaudited Statements of Income Statements of Income 2026 2025 Key themes Q2 2026 in millions Q2 Q2 • Continued growth at 11.5% vs. a high revenue Product Sales $7.2 $6.4 period in Q2 2025 that was driven by distributor YTY Growth 11.5% 17.8% restocking following a period of backorders Gross Profit 2
Slide 4: Gross Margin comparison to Q1 2026
Gross Margin comparison to Q1 2026 Gross Margin: Q1 2026 vs. Q2 2026 Key themes of change 45% • Volume: -7.5% impact 7.5% Driven by lower manufacturing volumes produced 2.1% 34% 1.9% • Scrap: -2.1% impact Quality issue with a purchased material • Re-Tain Shift: -1.9% impact Shift of costs formerly a
Slide 5: Unaudited Statements of Income
Unaudited Statements of Income Statements of Income 2026 2025 Key themes Q2 2026 in millions Q2 Q2 • Continued growth at 11.5% vs. a high revenue Product Sales $7.2 $6.4 period in Q2 2025 that was driven by distributor YTY Growth 11.5% 17.8% restocking following a prolonged period of Gross Profit 2.
Slide 6: Unaudited Balance Sheets
Unaudited Balance Sheets BALANCE SHEETS June 30 December 31, Key themes in millions 2026 2025 Assets • Cash increased from $3.8M at year end to $8.9M Cash $8.9 $3.8 driven by strong product sales and a $2M legal Accounts Receivable 2.9 3.4 settlement from our former Re-Tain® CMO Inventory 9.1 9.3 Pr
Slide 7: ImmuCell announced $8 million capacity expansion investment
ImmuCell announced $8 million capacity expansion investment $3.5 million investment in freeze drying Expected completion: H1 2027 $4.5 million investment in colostrum processing Expected completion: H2 2027 Investments will triple capacity and reduce production timelines from 2-3 months to less than
Slide 8: ImmuCell product sales are driven by Tri-Shield®
ImmuCell product sales are driven by Tri-Shield® ImmuCell Product Sales 2023 – 2026(H1) Millions $ Key Facts Key themes Q2 2026 TriShield All other 10.4 • Increased sales activity • Product availability 2.5 7.8 8.1 • Strong end user demand 7.3 7.6 7.2 2.4 6.4 1.7 6.0 5.4 5.5 3.5 5.5 2.3 5.1 3.2 1.9
Slide 9: First Defense® is gaining share
First Defense® is gaining share ImmuCell Segment Share (U.S.) 2021 – 2026 (H1) 36.3% Share of category spend 28.2% 29.1% 26.1% 24.5% 23.8% 18.6% Share of animals treated 14.0% 14.0% 15.2% 15.0% 13.2% 2021 2022 2023 2024 2025 2026 H1 Source: Animal health market data provider Nasdaq: ICCC 9
Slide 10: First Defense® production increased 62% since backorder situation
First Defense® production increased 62% since backorder situation Manufacturing Units (MUs) Of First Defense® 2021 – 2026 (H1) Average Monthly MUs released Key themes 2026 +62% 407,179 • Improve planning 379,533 343,911 • Reduce waste 298,771 • Increase utilization 273,255 • Optimize colostrum use 2
Slide 11: Nasdaq: ICCC
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