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IMAC Holdings, Inc.

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IMAC Holdings, Inc. • NASDAQ
$0.08 ▼ -1.25% (-0.00)
Market Cap $299012
52w High $1.56
52w Low $0.03
Dividend Yield 0%
P/E -0.02
Volume 8
Outstanding Shares 3.78M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $0 ▼ $1.87M ▼ $-2.12M ▲ 0% ▲ $-0.89 ▲ $-1.92M ▲
Q1-2025 $1.5K ▲ $2.087M ▲ $-2.2M ▲ -146.658K% ▼ $-1.4 ▲ $-2.137M ▼
Q4-2024 $0 ▼ $1.705M ▼ $-2.303M ▼ 0% ▲ $-3.22 ▼ $-1.763M ▲
Q3-2024 $56.3K ▲ $1.93M ▲ $-2.205M ▼ -3.916K% ▲ $-1.56 ▼ $-1.942M ▼
Q2-2024 $15.75K $1.346M $-1.383M -8.784K% $-1.17 $-1.366M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $42.665K ▲ $1.077M ▼ $10.903M ▲ $-9.826M ▼
Q1-2025 $30.88K ▼ $1.14M ▼ $8.773M ▲ $-7.632M ▼
Q4-2024 $504.189K ▲ $1.589M ▲ $7.983M ▲ $-6.394M ▼
Q3-2024 $195.511K ▼ $1.468M ▼ $6.267M ▲ $-4.799M ▼
Q2-2024 $890.61K $2.223M $4.518M $-2.295M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-2.12M ▲ $-1.295M ▼ $0 $1.307M ▲ $11.785K ▲ $-1.295M ▼
Q1-2025 $-2.2M ▲ $-1.033M ▲ $0 $560K ▼ $-473.309K ▼ $-1.033M ▲
Q4-2024 $-2.303M ▼ $-1.137M ▼ $0 $1.446M ▲ $308.678K ▲ $-1.137M ▼
Q3-2024 $-2.205M ▼ $-1.095M ▼ $0 ▲ $400K ▼ $-695.099K ▼ $-1.095M ▼
Q2-2024 $-1.383M $-727.876K $-375K $1.974M $873.075K $-727.876K

Five-Year Company Overview

Income Statement

Income Statement The income statement shows a very small revenue base and ongoing losses. Revenue has not yet scaled in a meaningful way, and the company continues to spend more on operations and overhead than it brings in. Profitability has not been achieved at any point in the past several years, and earnings per share remain deeply negative, amplified by the reverse stock split. Overall, this looks more like an early-stage or transition-phase company than a mature operating business.

Balance Sheet

Balance Sheet The balance sheet is thin and looks stressed. Total assets are very limited, cash is modest, and traditional debt has largely been reduced or eliminated. However, shareholder equity has recently turned negative, which means obligations now exceed the recorded asset base. This combination signals a fragile financial position with little cushion to absorb setbacks and likely dependence on new capital, cost cuts, or asset-light growth strategies to move forward.

Cash Flow

Cash Flow Cash flow from operations has historically been negative, reflecting that the business is not yet self-funding. Free cash flow has also been negative, though there is very little spending on long-lived assets, so most cash usage appears tied to covering operating costs. Recent figures that appear close to zero may reflect timing or very low levels of activity rather than a true turnaround. Overall, the company has relied on external financing and will likely need ongoing funding support until its new oncology-focused strategy begins to generate meaningful, recurring revenue.

Competitive Edge

Competitive Edge On the business side, IMAC is very small compared with the large diagnostics and genomics players it ultimately competes against. However, through Ignite Proteomics it holds a distinct niche: a clinically validated proteomic assay that measures both protein levels and activation in tumors, with a first-mover position in a specific area of advanced breast cancer. Patents, a specialized clinical lab, and early reimbursement groundwork provide some protection. The key challenge is scale: building awareness, driving adoption among oncologists, and securing broad payer coverage against bigger, better-funded rivals in genomics and proteomics.

Innovation and R&D

Innovation and R&D Innovation is the clear strength of this story. Ignite Proteomics’ platform focuses on protein activation rather than just DNA, aiming to provide more actionable treatment guidance in real time. The advanced breast cancer assay, collaborations with major health systems and academic centers, and a growing library of biomarkers show a pipeline mindset rather than a single-product bet. Expansion into other tumor types and immuno-oncology, plus custom panels for pharma partners, illustrates significant scientific ambition. The main uncertainties are pace of clinical validation, regulatory and reimbursement milestones, and whether the company has the financial resources to fully capitalize on its scientific lead.

Summary

IMAC Holdings has shifted from running care clinics to pursuing a high-tech precision oncology model built around proteomics. Financially, it remains very early-stage: revenue is minimal, losses are ongoing, the balance sheet is thin, and the business has not yet proven it can fund itself. Strategically, the Ignite Proteomics platform offers meaningful scientific differentiation and a credible niche in cancer diagnostics, supported by patents, lab certifications, and early reimbursement progress. The story now hinges on execution: converting technical advantages and promising collaborations into commercial traction and sustainable cash flow, while managing funding needs from a relatively weak starting financial position.

NEWS

September 10, 2025 · 3:04 PM UTC

Ignite Proteomics Announces Collaboration with Inova Health on a Biomarker Study for Late-Stage Cancers

Read more