Ocugen, Inc.
OCGN Nasdaq· Biological Products, (No Diagnostic Substances)
Last close · Oct 26, 2026
$0.71
KIRA · Stoqly’s AI analyst, in plain words
- Ocugen, Inc. had $4.4M of revenue in fiscal 2025, up 8.8% on the year before. Over five years, revenue changed +152.5% a year on average.
- Its operating margin was −1,425.7%, down 75.3 pts: of every 100 in sales, about −1,426 is left after running the business.
- Ocugen, Inc. lost $67.8M in fiscal 2025.
- Free cash flow was −$57.1M in fiscal 2025, −1,295.0% of revenue.
- Ocugen, Inc. owes $10.2M more than it holds in cash.
Market cap
$240M
P/E
—
Revenue
$4.4M
Net income
−$67.8M
Free cash flow
−$57.1M
Operating margin
−1,425.7%
Ocugen, Inc. in 30 seconds · fiscal 2025
Are sales growing?
+8.8%
Yes. Sales grew 8.8% last year.
Does it make a profit?
−1,537.4%
No. It lost money last year.
Does profit turn into cash?
−1,295.0%
No. It spent more cash than it brought in.
How healthy are the accounts?
2 / 7
Weak. It passes 2 of 7 health tests.
What Ocugen, Inc. does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 4, 2026
- Legal name
- Ocugen, Inc.
- CIK
- 0001372299
Ocugen, Inc. · OCGN
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $0.0M | $2.5M | $6.0M | $4.1M | $4.4M |
| Revenue growth | −100.0% | — | 142.6% | −32.8% | 8.8% |
| Operating margin | — | −3,580.0% | −1,085.7% | −1,350.4% | −1,425.7% |
| Net income | −$58.4M | −$86.8M | −$63.1M | −$54.1M | −$67.8M |
| Net margin | — | −3,488.9% | −1,045.0% | −1,333.0% | −1,537.4% |
| Diluted EPS | −$0.30 | −$0.40 | −$0.26 | — | — |
| Cash | |||||
| Cash from operations | −$47.9M | −$60.1M | −$62.1M | −$42.1M | −$57.0M |
| Capital expenditure | $0.9M | $4.5M | $10.5M | $3.4M | $0.2M |
| Free cash flow | −$48.9M | −$64.5M | −$72.5M | −$45.5M | −$57.1M |
| FCF margin | — | −2,593.9% | −1,201.6% | −1,122.7% | −1,295.0% |
| Share buybacks | $0.0M | — | — | — | — |
| Share count change | 73.8% | 10.0% | 13.9% | — | — |
| Debt and strength | |||||
| Cash and short-term investments | $95.0M | $90.9M | $39.5M | $58.8M | $18.6M |
| Debt incl. finance leases | $1.7M | $2.3M | $2.8M | $28.7M | $28.8M |
| Shareholders' equity | $91.2M | $74.0M | $40.6M | $29.6M | −$12.2M |
| Current ratio | 14.7x | 3.5x | 2.5x | 2.9x | 1.1x |
| Interest coverage | −734.5x | — | — | −79.6x | −12.1x |
| Returns and quality | |||||
| Return on capital | — | — | −1,326.7% | — | — |
| Return on equity | −103.5% | −105.1% | −110.1% | −154.0% | −776.9% |
| Return on tangible equity | −64.0% | −117.3% | −155.5% | −182.4% | — |
| Piotroski F-score | 4 | 2 | 2 | 3 | 2 |
| Altman Z'' | 7.8 | −5.7 | −16.9 | −14.1 | −40.3 |
Insiders bought, 12 months
$0.0M
1 insider
Insiders sold, 12 months
$1.1M
1 insider
Of sales under plans
100%
$1.1M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Ocugen, Inc. · OCGN
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $0.71 a share, the company is worth $240M.
Source: SEC EDGAR XBRL filings (CIK 0001372299). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.