NASDAQ : OCGN
Ocugen, Inc. — Financial statements
Healthcare · Biotechnology · United States
Last price 0.7027 USD (Oct 30, 2026, 4:00 PM EST) · Market cap 238.29M
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Financial statements
Ocugen, Inc. (OCGN) reported revenue of 4.58M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 4.58M | 4.41M | 4.05M | 6.04M | 2.49M | |
| Cost of Revenue | 43.76M | 39.75M | 32.13M | 39.57M | 56.16M | 35.11M |
| Gross Profit | -39.18M | -35.34M | -28.07M | -33.54M | -53.67M | -35.11M |
| Selling, General & Admin | 29.72M | 27.58M | 26.69M | 31.99M | 35.40M | 22.92M |
| Operating Expenses | 29.72M | 27.58M | 26.69M | 31.99M | 35.40M | 22.92M |
| Operating Income | -68.90M | -62.92M | -54.76M | -65.53M | -89.07M | -58.03M |
| Interest Expense | -8.44M | -5.19M | -688.00K | |||
| Interest & Investment Income | 877.00K | 922.00K | 1.25M | 2.50M | 1.40M | |
| Other Non Operating Income (Expenses) | -2.96M | -664.00K | 140.00K | -47.00K | 867.00K | -54.00K |
| EBT Excluding Unusual Items | -79.43M | -67.85M | -54.05M | -63.08M | -86.80M | -58.08M |
| Other Unusual Items | -2.38M | -335.00K | ||||
| Pretax Income | -81.81M | -67.85M | -54.05M | -63.08M | -86.80M | -58.42M |
| Income Tax Expense | -52.00K | |||||
| Net Income | -81.81M | -67.85M | -54.05M | -63.08M | -86.80M | -58.37M |
| Net Income to Common | -81.81M | -67.85M | -54.05M | -63.08M | -86.80M | -58.37M |
| Shares Outstanding (Basic) | 320.72M | 300.17M | 271.00M | 244.33M | 214.60M | 195.01M |
| Shares Outstanding (Diluted) | 320.72M | 300.17M | 271.00M | 244.33M | 214.60M | 195.01M |
| EPS (Basic) | -0.26 | -0.23 | -0.20 | -0.26 | -0.40 | -0.30 |
| EPS (Diluted) | -0.26 | -0.23 | -0.20 | -0.26 | -0.40 | -0.30 |
| Free Cash Flow | -61.02M | -57.15M | -45.53M | -72.53M | -64.54M | -49.01M |
| Free Cash Flow Per Share | -0.19 | -0.19 | -0.17 | -0.30 | -0.30 | -0.25 |
| Operating Margin | -1,504.08% | -1,425.70% | -1,350.36% | -1,085.67% | -3,580.02% | |
| Profit Margin | -1,785.88% | -1,537.41% | -1,333.02% | -1,045.03% | -3,488.91% | |
| Free Cash Flow Margin | -1,332.07% | -1,295.02% | -1,122.74% | -1,201.62% | -2,593.89% | |
| EBITDA | -67.17M | -60.53M | -52.79M | -64.83M | -88.59M | -57.80M |
| D&A For EBITDA | 1.73M | 2.39M | 1.97M | 704.00K | 480.00K | 229.00K |
| EBIT | -68.90M | -62.92M | -54.76M | -65.53M | -89.07M | -58.03M |
| Revenue as Reported | 4.58M | 4.41M | 4.05M | 6.04M | 2.49M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 100.05M | 18.57M | 58.51M | 39.46M | 77.56M | 94.96M |
| Short-Term Investments | 13.37M | |||||
| Cash & Short-Term Investments | 100.05M | 18.57M | 58.51M | 39.46M | 90.93M | 94.96M |
| Prepaid Expenses | 5.82M | 5.33M | 2.29M | 3.51M | 7.56M | 7.69M |
| Other Current Assets | 849.00K | 439.00K | 879.00K | |||
| Total Current Assets | 106.72M | 24.34M | 61.68M | 42.97M | 98.49M | 102.65M |
| Property, Plant & Equipment | 13.35M | 18.48M | 20.17M | 21.23M | 9.96M | 2.75M |
| Other Long-Term Assets | 4.14M | 692.00K | 593.00K | 342.00K | 177.00K | 364.00K |
| Total Assets | 124.21M | 43.52M | 82.44M | 64.55M | 108.63M | 105.76M |
| Accounts Payable | 5.14M | 6.20M | 4.24M | 3.17M | 8.06M | 2.31M |
| Accrued Expenses | 4.78M | 5.44M | 4.31M | 2.67M | 8.39M | 4.33M |
| Short-Term Debt | 82.36M | |||||
| Current Portion of Long-Term Debt | 20.00K | 1.25M | 1.33M | |||
| Current Portion of Leases | 839.00K | 858.00K | 519.00K | 574.00K | 498.00K | 363.00K |
| Current Unearned Revenue | 4.17M | 5.91M | 8.37M | 10.53M | 11.22M | |
| Other Current Liabilities | 35.77M | 3.39M | 2.82M | 151.00K | 357.00K | |
| Total Current Liabilities | 133.08M | 23.04M | 21.59M | 17.09M | 28.53M | 7.00M |
| Long-Term Debt | 1.73M | 27.54M | 27.34M | 2.80M | 2.29M | 1.71M |
| Long-Term Leases | 3.04M | 3.49M | 3.31M | 3.57M | 3.59M | 1.23M |
| Long-Term Unearned Revenue | 800.00K | |||||
| Other Long-Term Liabilities | 2.91M | 803.00K | 564.00K | 527.00K | 244.00K | |
| Total Liabilities | 140.76M | 55.68M | 52.81M | 23.98M | 34.65M | 9.94M |
| Common Stock | 3.39M | 3.12M | 2.92M | 2.57M | 2.22M | 2.00M |
| Additional Paid-In Capital | 432.01M | 392.76M | 366.94M | 324.19M | 294.87M | 225.54M |
| Retained Earnings | -452.12M | -408.07M | -340.22M | -286.17M | -223.09M | -131.67M |
| Treasury Stock | -48.00K | -48.00K | -48.00K | -48.00K | -48.00K | -48.00K |
| Comprehensive Income & Other | 213.00K | 61.00K | 48.00K | 20.00K | 26.00K | |
| Total Common Equity | -16.56M | -12.17M | 29.63M | 40.56M | 73.98M | 95.82M |
| Shareholders' Equity | -16.56M | -12.17M | 29.63M | 40.56M | 73.98M | 95.82M |
| Total Liabilities & Equity | 124.21M | 43.52M | 82.44M | 64.55M | 108.63M | 105.76M |
| Total Debt | 87.99M | 33.14M | 32.50M | 6.94M | 6.37M | 3.31M |
| Net Cash (Debt) | 12.06M | -14.57M | 26.01M | 32.52M | 84.56M | 91.65M |
| Net Cash Per Share | 0.04 | -0.05 | 0.10 | 0.13 | 0.39 | 0.47 |
| Filing Date Shares Outstanding | 339.11M | 327.90M | 292.01M | 257.33M | 226.42M | 199.49M |
| Total Common Shares Outstanding | 339.04M | 312.38M | 291.37M | 256.57M | 221.60M | 199.38M |
| Working Capital | -26.36M | 1.30M | 40.09M | 25.88M | 69.96M | 95.65M |
| Book Value Per Share | -0.05 | -0.04 | 0.10 | 0.16 | 0.33 | 0.48 |
| Tangible Book Value | -16.56M | -12.17M | 29.63M | 40.56M | 73.98M | 95.82M |
| Tangible Book Value Per Share | -0.05 | -0.04 | 0.10 | 0.16 | 0.33 | 0.48 |
| Machinery | 3.92M | 3.82M | 3.62M | 1.89M | 2.02M | 1.14M |
| Construction In Progress | 14.54M | 3.05M | 232.00K | |||
| Leasehold Improvements | 16.09M | 16.09M | 16.09M | 2.09M | 1.60M | 167.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -81.81M | -67.85M | -54.05M | -63.08M | -86.80M | -58.37M |
| Depreciation & Amortization | 1.73M | 2.39M | 1.97M | 704.00K | 480.00K | 229.00K |
| Other Amortization | 3.65M | 1.36M | 16.00K | |||
| Loss (Gain) From Sale of Assets | 363.00K | |||||
| Loss (Gain) From Sale of Investments | -182.00K | -99.00K | ||||
| Stock-Based Compensation | 9.21M | 7.71M | 7.43M | 9.22M | 10.54M | 6.96M |
| Other Operating Activities | 4.28M | -53.00K | -1.16M | 4.08M | 6.61M | 747.00K |
| Change in Accounts Payable | 4.14M | 3.31M | 4.14M | -12.34M | 9.49M | 3.50M |
| Change in Other Net Operating Assets | -2.06M | -3.83M | -472.00K | -813.00K | -292.00K | -1.01M |
| Operating Cash Flow | -60.87M | -56.96M | -42.14M | -62.05M | -60.08M | -47.94M |
| Capital Expenditures | -153.00K | -185.00K | -3.38M | -10.48M | -4.46M | -1.07M |
| Investment in Securities | 13.55M | -13.27M | ||||
| Other Investing Activities | 5.00K | -126.00K | 761.00K | -750.00K | ||
| Investing Cash Flow | -148.00K | -311.00K | -3.38M | 3.08M | -16.97M | -1.82M |
| Long-Term Debt Issued | 30.00M | 500.00K | 500.00K | |||
| Long-Term Debt Repaid | -1.00M | -10.00K | ||||
| Net Debt Issued (Repaid) | 84.25M | -1.00M | 30.00M | 500.00K | 500.00K | -10.00K |
| Issuance of Common Stock | 58.03M | 19.85M | 38.56M | 20.80M | 59.57M | 129.21M |
| Other Financing Activities | -8.42M | -1.53M | -3.70M | -423.00K | -592.00K | -8.53M |
| Financing Cash Flow | 133.86M | 17.33M | 64.86M | 20.88M | 59.48M | 120.68M |
| Foreign Exchange Rate Adjustments | 200.00K | 13.00K | 28.00K | -5.00K | 25.00K | |
| Net Cash Flow | 73.05M | -39.93M | 19.36M | -38.10M | -17.55M | 70.92M |
| Free Cash Flow | -61.02M | -57.15M | -45.53M | -72.53M | -64.54M | -49.01M |
| Free Cash Flow Margin | -1,332.07% | -1,295.02% | -1,122.74% | -1,201.62% | -2,593.89% | |
| Free Cash Flow Per Share | -0.19 | -0.19 | -0.17 | -0.30 | -0.30 | -0.25 |
| Levered Free Cash Flow | -1.97M | -32.70M | -25.06M | -48.98M | -27.58M | -32.69M |
| Unlevered Free Cash Flow | -353.75K | -30.82M | -24.64M | -48.98M | -27.58M | -32.69M |
| Change in Working Capital | 2.07M | -523.00K | 3.67M | -13.16M | 9.20M | 2.49M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 245.75M | 421.63M | 234.51M | 147.49M | 284.55M | 906.30M |
| Enterprise Value | 233.69M | 422.03M | 202.60M | 100.49M | 189.42M | 802.09M |
| Last Close Price | 0.70 | 1.35 | 0.81 | 0.57 | 1.30 | 4.55 |
| Forward PE | 8.10 | 8.10 | 8.10 | 8.10 | 52.48 | |
| PS Ratio | 54.79 | 95.54 | 57.83 | 24.43 | 114.37 | |
| PB Ratio | -34.66 | 7.91 | 3.64 | 3.85 | 9.46 | |
| P/TBV Ratio | 7.91 | 3.64 | 3.85 | 9.46 | ||
| EV/Sales Ratio | 52.15 | 95.63 | 49.96 | 16.65 | 76.14 | |
| Debt / Equity Ratio | -5.31 | -2.72 | 1.10 | 0.17 | 0.09 | 0.04 |
| Net Debt / Equity Ratio | 0.73 | -1.20 | -0.88 | -0.80 | -1.14 | -0.96 |
| Net Debt / EBITDA Ratio | 0.18 | -0.24 | 0.49 | 0.50 | 0.95 | 1.59 |
| Net Debt / FCF Ratio | 0.20 | -0.26 | 0.57 | 0.45 | 1.31 | 1.87 |
| Asset Turnover | 0.05 | 0.07 | 0.06 | 0.07 | 0.02 | |
| Quick Ratio | 0.75 | 0.81 | 2.71 | 2.31 | 3.19 | 13.56 |
| Current Ratio | 0.80 | 1.06 | 2.86 | 2.52 | 3.45 | 14.66 |
| Return on Equity (ROE) | -776.89% | -154.01% | -110.14% | -102.24% | -99.46% | |
| Return on Assets (ROA) | -48.44% | -62.44% | -46.56% | -47.30% | -51.93% | -54.48% |
| Return on Capital Employed (ROCE) | 776.40% | -307.30% | -90.00% | -138.10% | -111.20% | -58.80% |
| Earnings Yield | -35.20% | -16.09% | -23.05% | -42.77% | -30.50% | -6.44% |
| FCF Yield | -24.31% | -13.55% | -19.41% | -49.18% | -22.68% | -5.41% |
| Buyback Yield / Dilution | -11.22% | -10.76% | -10.91% | -13.85% | -10.04% | -73.75% |