NASDAQ · Financial Statements

Ocugen, Inc. (OCGN) Financial Statements

$0.74 NASDAQ: OCGN Market Cap $250.84M

Ocugen, Inc. most recently reported annual revenue of $4.0M, a net loss of $68.0M. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Ocugen, Inc.: net profit was positive in 0 of 10 reported years; operating margin moved from -49500.0% to -1425.7%, a shift of +48074.3 percentage points; the most recent year shows a net loss of $68.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$0$0$0$0$0$0$2.0M$6.0M$4.0M$4.0M
Operating Expenses$30.0M$25.0M$30.0M$14.0M$21.0M$58.0M$92.0M$72.0M$59.0M$67.0M
Operating Profit$-30.0M$-25.0M$-30.0M$-14.0M$-21.0M$-58.0M$-89.0M$-66.0M$-55.0M$-63.0M
Operating Margin0.0%0.0%0.0%0.0%-49500.0%0.0%-3580.0%-1085.7%-1350.4%-1425.7%
Other Income$14.0M$-1.0M$12.0M$-6.0M$-1.0M$0$2.0M$2.0M$1.0M$-5.0M
Interest$0$0$0$2.0M$1.0M$0$0$0$0$5.0M
Depreciation$2.0M$2.0M$0$0$0$0$0$1.0M$2.0M$2.0M
Profit Before Tax$-16.0M$-26.0M$-9.0M$-20.0M$-22.0M$-58.0M$-87.0M$-63.0M$-54.0M$-68.0M
Tax$0$700,000$182.4M$0$0$90,000$0$0$0$0
Net Profit$-16.0M$-26.0M$-9.0M$-20.0M$-22.0M$-58.0M$-87.0M$-63.0M$-54.0M$-68.0M
EPS$-67.58$-69.91$-13.98$-1.53$-0.31$-0.30$-0.40$-0.26$-0.20$-0.23
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$4.0M$6.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$2.0M$0$2.0M$1.0M
Operating Expenses$16.0M$15.0M$13.0M$17.0M$14.0M$15.0M$16.0M$15.0M$19.0M$17.0M$19.0M$18.0M
Operating Profit$-12.0M$-9.0M$-12.0M$-15.0M$-13.0M$-14.0M$-15.0M$-14.0M$-18.0M$-17.0M$-18.0M$-16.0M
Operating Margin-336.1%-142.9%-1204.7%-1354.0%-1166.5%-1811.5%-979.1%-1004.7%-1006.0%8805.7%-1163.7%-1105.1%
Interest$0$0$0$0$0$0$1.0M$1.0M$1.0M$1.0M$1.0M$4.0M
Profit Before Tax$-12.0M$-9.0M$-12.0M$-15.0M$-13.0M$-14.0M$-15.0M$-15.0M$-20.0M$-18.0M$-19.0M$-25.0M
Tax$0$0$0$0$0$0$0$0$0$0$0$0
Net Profit$-12.0M$-9.0M$-12.0M$-15.0M$-13.0M$-14.0M$-15.0M$-15.0M$-20.0M$-18.0M$-19.0M$-25.0M
EPS$-0.06$-0.04$-0.05$-0.04$-0.05$-0.05$-0.05$-0.05$-0.07$-0.06$-0.06$-0.07

Over the 10 years reported for Ocugen, Inc., borrowings increased from $1.0M in 2016 to $33.0M in 2025, cash stood at $19.0M in the latest year, shareholders' equity was $3.0M, current assets covered current liabilities 1.04 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$36.0M$11.0M$17.0M$17.0M$27.0M$106.0M$109.0M$65.0M$82.0M$44.0M
Current Assets$32.0M$8.0M$16.0M$16.0M$26.0M$103.0M$98.0M$43.0M$62.0M$24.0M
Cash$32.0M$7.0M$16.0M$7.0M$24.0M$95.0M$78.0M$39.0M$59.0M$19.0M
Inventory$0$0$0$0$0$0$0$0$0$0
Receivables$0$0$0$0$0$0$0$0$0$0
Fixed Assets$4.0M$3.0M$0$0$1.0M$1.0M$6.0M$17.0M$17.0M$14.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$0$1.0M$0$0$0$0$13.0M$0$0$0
Other Assets$0$0$0$0$0$0$0$0$0$0
Total Liabilities$23.0M$22.0M$18.0M$6.0M$6.0M$10.0M$35.0M$24.0M$53.0M$56.0M
Current Liabilities$5.0M$4.0M$3.0M$5.0M$4.0M$7.0M$29.0M$17.0M$22.0M$23.0M
Borrowings$1.0M$0$0$1.0M$2.0M$3.0M$6.0M$7.0M$33.0M$33.0M
Other Liabilities$22.0M$22.0M$18.0M$4.0M$3.0M$7.0M$28.0M$17.0M$20.0M$23.0M
Equity$0$0$1.0M$1.0M$2.0M$2.0M$2.0M$3.0M$3.0M$3.0M
Reserves$14.0M$-11.0M$0$11.0M$22.0M$96.0M$74.0M$41.0M$30.0M$-12.0M

For Ocugen, Inc., operating cash flow was positive in 0 of 10 reported years; free cash flow in the latest year was negative at $57.0M; free cash flow was positive in 0 of 10 years.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$-26.0M$-23.0M$-16.0M$-17.0M$-15.0M$-48.0M$-60.0M$-62.0M$-42.0M$-57.0M
Investing Cash Flow$-1.0M$-2.0M$-3.0M$-2.0M$-1.0M$-3.0M$-21.0M$-7.0M$-7.0M$0
Financing Cash Flow$0$0$0$0$-1.0M$-9.0M$-1.0M$0$-4.0M$0
Net Cash Flow$1.0M$-25.0M$8.0M$6.0M$17.0M$71.0M$-18.0M$-38.0M$19.0M$-40.0M
Free Cash Flow$-26.0M$-23.0M$-18.0M$-17.0M$-15.0M$-49.0M$-65.0M$-73.0M$-46.0M$-57.0M

Valuation & Return Ratios

MetricValue
PEG Ratio0.14
EV / EBITDA-3.40
FCF Yield-24.47%
Quick Ratio0.80
Interest Coverage-8.16
Return 1Y8.55%
Return 3Y125.58%
Return 5Y-77.52%

Ocugen, Inc. (OCGN) financials — frequently asked questions

What is Ocugen, Inc.'s annual revenue?

Ocugen, Inc. (OCGN) reported annual revenue of $4.0M in its most recent fiscal year.

What is Ocugen, Inc.'s net profit?

Ocugen, Inc. (OCGN) reported a net loss of $68.0M in its most recent fiscal year.

What is OCGN EV/EBITDA?

Ocugen, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is -3.40. A negative value means EBITDA was negative over the period, so the ratio is not a meaningful valuation measure.

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