OCS Nasdaq Pharmaceutical Preparations Financials FY2020βFY2025
Oculis Holding AG had $1.4M of revenue in fiscal 2025, up 85.2% on the year before. Over five years, revenue changed +6.4% a year on average.
Hi! I read Oculis Holding AGβs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+85.2%
Yes. Sales grew 85.2% last year.
Does it make a profit?
β8,253.4%
No. It lost money last year.
Does profit turn into cash?
β5,555.1%
No. It spent more cash than it brought in.
How healthy are the accounts?
3 / 7
Weak. It passes 3 of 7 health tests.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Oculis Holding AG did it, and the next one. Share prices often move a lot on those days.
Next results
November 9, 2026
Monday Β· in 14 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Mar 4, 2026 | Period ended Dec 31, 2025 | After the market closes | 20-F β |
| Mar 11, 2025 | Period ended Dec 31, 2024 | After the market closes | 20-F β |
| Mar 19, 2024 | Period ended Dec 31, 2023 | Before the market opens | 20-F β |
| Mar 28, 2023 | Period ended Dec 31, 2022 | After the market closes | 20-F β |
| Mar 8, 2023 | Period ended Mar 2, 2023 | Time not announced | 20-F β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· Oculis Holding AG had $1.4M of revenue in fiscal 2025, up 85.2% on the year before. Over five years, revenue changed +6.4% a year on average. Its operating margin was β6,811.8%, up 3,859.9Β pts: of every 100 in sales, about β6,812 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Oculis Holding AG lost $119M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$80.1M in fiscal 2025, β5,555.1% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Oculis Holding AG can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $50.7M | $21.4M | $45.7M | $30.6M | $103M |
| Interest coverage | β176.3x | β600.0x | β61.4x | β114.6x | β98.0x |
| Current ratio | 11.8x | 2.0x | 5.3x | 2.4x | 6.0x |
| Quick ratio | 11.8x | 2.0x | 5.3x | 2.4x | 6.0x |
| Total assets | $63.6M | $40.1M | $136M | $133M | $298M |
| Total liabilities | $130M | $146M | $24.6M | $51.8M | $50.3M |
| Shareholders' equity | β$66.8M | β$106M | $112M | $81.0M | $247M |
| Net debt (β = net cash) | β | β | β | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Oculis Holding AG passes 3 of 7 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β |
| F-score | β / 3 | β / 4 | 2 / 7 | 3 / 7 | 1 / 7 | 3 / 7 |
| Accruals ratio | β | β8.1% | β27.5% | β42.6% | β31.1% | β18.2% |
| Altman Z'' | β | β1.16 | β14.14 | β0.65 | β6.99 | 2.69 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Revenue | $1.1M | $1.1M | $1.0M | $1.0M | $0.8M | $1.4M |
| Net interest income | $0.0M | $0.0M | $0.1M | β | β | β |
| Research and development | $9.9M | $10.5M | $23.3M | $32.6M | $59.1M | $68.7M |
| Operating income | β$13.1M | β$14.5M | β$33.9M | β$89.8M | β$83.1M | β$98.3M |
| Interest expense | $0.0M | $0.1M | $0.1M | $1.5M | $0.7M | $1.0M |
| Pretax income | β$15.8M | β$20.3M | β$40.5M | β$98.7M | β$97.6M | β$119M |
| Income tax | $0.1M | $0.0M | $0.1M | $0.1M | β$0.2M | β$0.2M |
| Net income | β$15.8M | β$20.3M | β$40.5M | β$98.8M | β$97.4M | β$119M |
| Diluted EPS | β$6.15 | β$6.39 | β$11.85 | β$3.31 | β$2.41 | β$2.27 |
| Diluted shares | 0.00B | 0.00B | 0.00B | 0.03B | 0.04B | 0.05B |
| Cash flow | ||||||
| Cash from operations | β$12.8M | β$15.1M | β$26.3M | β$61.3M | β$55.6M | β$79.8M |
| Capital expenditure | $0.0M | $0.0M | $0.1M | $0.1M | $0.3M | $0.4M |
| Free cash flow | β$12.8M | β$15.2M | β$26.3M | β$61.3M | β$55.8M | β$80.1M |
| Stock-based compensation | $0.3M | $0.4M | $0.8M | $4.0M | $11.1M | $19.3M |
| Balance sheet | ||||||
| Cash and short-term investments | $5.6M | $50.7M | $21.4M | $45.7M | $30.6M | $103M |
| Current assets | β | $52.6M | $25.6M | $121M | $116M | $276M |
| Current liabilities | β | $4.5M | $13.0M | $22.8M | $48.8M | $46.4M |
| Property and equipment, net | β | $0.5M | $0.4M | $0.3M | $0.4M | $0.7M |
| Intangible assets | $9.9M | $9.6M | $13.2M | $14.6M | $14.7M | $16.8M |
| Total assets | β | $63.6M | $40.1M | $136M | $133M | $298M |
| Total liabilities | β | $130M | $146M | $24.6M | $51.8M | $50.3M |
| Shareholders' equity | β$49.6M | β$66.8M | β$106M | $112M | $81.0M | $247M |
| Margins | ||||||
| Operating margin | β1,242.3% | β1,378.3% | β3,549.9% | β9,140.9% | β10,671.6% | β6,811.8% |
| Net margin | β1,497.8% | β1,932.5% | β4,243.0% | β10,056.8% | β12,504.5% | β8,253.4% |
| FCF margin | β1,213.3% | β1,443.0% | β2,756.4% | β6,238.4% | β7,164.9% | β5,555.1% |
| Net interest share of revenue | 1.0% | 2.2% | 13.8% | β | β | β |
| Returns | ||||||
| Return on capital employed | β | β24.5% | β125.0% | β79.0% | β98.9% | β39.1% |
| Return on equity | β | β | β | β3,465.1% | β101.0% | β72.5% |
| Return on assets | β | β31.9% | β78.1% | β111.9% | β72.3% | β55.3% |
| Return on tangible equity | β | β | β | β101.6% | β146.9% | β51.6% |
| Growth | ||||||
| Revenue growth | β | β0.7% | β9.1% | 2.9% | β20.7% | 85.2% |
| Share count change | β | 7.7% | 7.6% | 900.2% | 35.1% | 29.3% |
| Financial health | ||||||
| Interest coverage | β684.4x | β176.3x | β600.0x | β61.4x | β114.6x | β98.0x |
| Current ratio | β | 11.8x | 2.0x | 5.3x | 2.4x | 6.0x |
| Quick ratio | β | 11.8x | 2.0x | 5.3x | 2.4x | 6.0x |
| Capital allocation | ||||||
| Capex / revenue | 1.9% | 2.9% | 7.1% | 5.4% | 33.5% | 25.1% |
| Stock comp / revenue | 33.0% | 34.2% | 88.2% | 408.6% | 1,426.0% | 1,338.1% |
| Quality scores | ||||||
| Piotroski F-score | β | β | 2.0 | 3.0 | 1.0 | 3.0 |
| Altman Z'' | β | β1.2 | β14.1 | β0.6 | β7.0 | 2.7 |
| Accruals ratio | β | β8.1% | β27.5% | β42.6% | β31.1% | β18.2% |
Source: SEC EDGAR XBRL filings (CIK 0001953530). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. Filed in CHF under IFRS and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. For information only β not investment advice. Check the original filings before relying on any figure.
