NASDAQ : OCUL
Ocular Therapeutix, Inc. — Financial statements
Healthcare · Biotechnology · United States
Last price 6.97 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.53B
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Financial statements
Ocular Therapeutix, Inc. (OCUL) reported revenue of 52.05M 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 | 52.05M | 51.95M | 63.72M | 58.44M | 51.49M | 43.52M |
| Cost of Revenue | 230.22M | 203.67M | 133.26M | 66.34M | 58.00M | 54.49M |
| Gross Profit | -178.16M | -151.72M | -69.54M | -7.89M | -6.51M | -10.97M |
| Selling, General & Admin | 135.75M | 118.30M | 91.34M | 74.49M | 72.15M | 67.07M |
| Operating Expenses | 135.75M | 118.30M | 91.34M | 74.49M | 72.15M | 67.07M |
| Operating Income | -313.91M | -270.02M | -160.88M | -82.38M | -78.65M | -78.04M |
| Interest Expense | -11.40M | -11.84M | -13.58M | -11.34M | -7.02M | -6.67M |
| Interest & Investment Income | 22.57M | 18.36M | 20.28M | 3.98M | 798.00K | 33.00K |
| Other Non Operating Income (Expenses) | 1.32M | -2.44M | -480.00K | -5.19M | 13.84M | 78.12M |
| EBT Excluding Unusual Items | -301.42M | -265.94M | -154.66M | -94.93M | -71.04M | -6.55M |
| Merger & Restructuring Charges | -1.60M | |||||
| Other Unusual Items | -37.25M | 14.19M | ||||
| Pretax Income | -301.45M | -265.94M | -193.51M | -80.74M | -71.04M | -6.55M |
| Net Income | -301.45M | -265.94M | -193.51M | -80.74M | -71.04M | -6.55M |
| Net Income to Common | -301.45M | -265.94M | -193.51M | -80.74M | -71.04M | -6.55M |
| Shares Outstanding (Basic) | 214.00M | 187.24M | 158.27M | 79.83M | 76.88M | 76.39M |
| Shares Outstanding (Diluted) | 214.00M | 187.24M | 158.27M | 85.60M | 82.64M | 82.16M |
| EPS (Basic) | -1.41 | -1.42 | -1.22 | -1.01 | -0.92 | -0.09 |
| EPS (Diluted) | -1.41 | -1.42 | -1.22 | -1.02 | -0.97 | -0.98 |
| Free Cash Flow | -255.10M | -216.89M | -135.97M | -76.32M | -63.32M | -66.74M |
| Free Cash Flow Per Share | -1.19 | -1.16 | -0.86 | -0.89 | -0.77 | -0.81 |
| Gross Margin | -292.04% | -109.12% | -13.51% | -12.64% | -25.20% | |
| Operating Margin | -603.03% | -519.75% | -252.47% | -140.96% | -152.74% | -179.31% |
| Profit Margin | -579.09% | -511.90% | -303.67% | -138.15% | -137.95% | -15.06% |
| Free Cash Flow Margin | -490.06% | -417.50% | -213.37% | -130.59% | -122.96% | -153.36% |
| EBITDA | -308.46M | -265.69M | -157.09M | -79.40M | -76.55M | -75.62M |
| EBITDA Margin | -246.53% | -135.86% | -148.65% | -173.74% | ||
| D&A For EBITDA | 5.45M | 4.32M | 3.79M | 2.98M | 2.11M | 2.42M |
| EBIT | -313.91M | -270.02M | -160.88M | -82.38M | -78.65M | -78.04M |
| EBIT Margin | -252.47% | -140.96% | -152.74% | -179.31% | ||
| Revenue as Reported | 52.05M | 51.95M | 63.72M | 58.44M | 51.49M | 43.52M |
| Advertising Expenses | 505.00K | 917.00K | 880.00K |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 598.64M | 737.06M | 392.10M | 195.81M | 102.30M | 164.16M |
| Cash & Short-Term Investments | 598.64M | 737.06M | 392.10M | 195.81M | 102.30M | 164.16M |
| Accounts Receivable | 30.26M | 30.65M | 32.39M | 26.18M | 21.32M | 21.14M |
| Other Receivables | 176.00K | |||||
| Receivables | 30.26M | 30.65M | 32.56M | 26.18M | 21.32M | 21.14M |
| Inventory | 3.83M | 3.56M | 3.04M | 2.31M | 1.97M | 1.25M |
| Prepaid Expenses | 11.70M | 10.86M | 13.28M | 7.79M | 4.03M | 4.75M |
| Restricted Cash | 150.00K | |||||
| Total Current Assets | 644.43M | 782.13M | 440.99M | 232.24M | 129.63M | 191.30M |
| Property, Plant & Equipment | 25.28M | 24.31M | 15.33M | 18.21M | 17.90M | 11.82M |
| Other Long-Term Assets | 1.61M | 1.61M | 1.61M | 1.61M | 1.76M | 1.76M |
| Total Assets | 671.32M | 808.06M | 457.94M | 252.06M | 149.29M | 204.89M |
| Accounts Payable | 7.00M | 4.15M | 4.18M | 4.39M | 5.12M | 4.59M |
| Accrued Expenses | 39.06M | 43.84M | 35.12M | 28.67M | 24.10M | 20.12M |
| Current Portion of Leases | 3.12M | 2.82M | 1.93M | 1.59M | 1.60M | 1.62M |
| Current Unearned Revenue | 128.00K | 255.00K | 576.00K | |||
| Total Current Liabilities | 49.17M | 50.81M | 41.35M | 34.90M | 31.39M | 26.34M |
| Long-Term Debt | 72.80M | 71.34M | 68.50M | 74.92M | 54.01M | 51.44M |
| Long-Term Leases | 3.47M | 2.81M | 5.34M | 6.88M | 8.68M | 5.92M |
| Long-Term Unearned Revenue | 14.00M | 14.00M | 14.00M | 14.13M | 13.39M | 13.00M |
| Other Long-Term Liabilities | 11.84M | 14.79M | 13.39M | 30.09M | 6.44M | 20.19M |
| Total Liabilities | 151.28M | 153.75M | 142.59M | 160.93M | 113.91M | 116.89M |
| Common Stock | 22.00K | 22.00K | 16.00K | 12.00K | 8.00K | 8.00K |
| Additional Paid-In Capital | 1.84B | 1.81B | 1.21B | 788.70M | 652.21M | 633.79M |
| Retained Earnings | -1.32B | -1.16B | -891.08M | -697.58M | -616.84M | -545.80M |
| Shareholders' Equity | 520.04M | 654.31M | 315.34M | 91.13M | 35.38M | 88.00M |
| Total Liabilities & Equity | 671.32M | 808.06M | 457.94M | 252.06M | 149.29M | 204.89M |
| Total Debt | 79.38M | 76.97M | 75.78M | 83.39M | 64.28M | 58.98M |
| Net Cash (Debt) | 519.26M | 660.09M | 316.32M | 112.42M | 38.02M | 105.18M |
| Net Cash Per Share | 2.43 | 3.53 | 2.00 | 1.31 | 0.46 | 1.28 |
| Filing Date Shares Outstanding | 219.62M | 217.69M | 159.02M | 148.63M | 77.51M | 76.75M |
| Total Common Shares Outstanding | 219.59M | 215.93M | 157.75M | 114.96M | 77.20M | 76.73M |
| Working Capital | 595.25M | 731.32M | 399.63M | 197.34M | 98.23M | 164.96M |
| Book Value Per Share | 2.37 | 3.03 | 2.00 | 0.79 | 0.46 | 1.15 |
| Tangible Book Value | 520.04M | 654.31M | 315.34M | 91.13M | 35.38M | 88.00M |
| Tangible Book Value Per Share | 2.37 | 3.03 | 2.00 | 0.79 | 0.46 | 1.15 |
| Machinery | 21.33M | 18.05M | 16.78M | 13.75M | 12.28M | |
| Construction In Progress | 10.26M | 119.00K | 281.00K | 4.07M | 578.00K | |
| Leasehold Improvements | 15.28M | 14.53M | 14.70M | 9.07M | 9.07M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -301.45M | -265.94M | -193.51M | -80.74M | -71.04M | -6.55M |
| Depreciation & Amortization | 5.45M | 4.32M | 3.79M | 2.98M | 2.11M | 2.42M |
| Loss (Gain) From Sale of Assets | 4.87M | -29.00K | 1.00K | 1.00K | -1.00K | |
| Stock-Based Compensation | 53.28M | 43.18M | 33.11M | 17.82M | 16.96M | 14.98M |
| Other Operating Activities | 1.98M | 5.87M | 32.16M | -2.90M | -8.99M | -73.49M |
| Change in Accounts Receivable | 151.00K | 1.74M | -6.21M | -4.85M | -190.00K | -8.88M |
| Change in Inventory | -787.00K | -524.00K | -735.00K | -331.00K | -724.00K | -49.00K |
| Change in Accounts Payable | 1.29M | -887.00K | -318.00K | 583.00K | -621.00K | 1.80M |
| Change in Unearned Revenue | -128.00K | -262.00K | 427.00K | 963.00K | 1.00M | |
| Change in Other Net Operating Assets | -3.02M | 7.51M | -2.71M | -3.24M | 1.92M | 3.23M |
| Operating Cash Flow | -238.24M | -204.88M | -134.68M | -70.23M | -59.60M | -65.55M |
| Capital Expenditures | -16.86M | -12.01M | -1.29M | -6.09M | -3.71M | -1.19M |
| Sale of Property, Plant & Equipment | 130.00K | |||||
| Investing Cash Flow | -16.86M | -11.88M | -1.29M | -6.09M | -3.71M | -1.19M |
| Short-Term Debt Issued | 2.00M | |||||
| Long-Term Debt Issued | 82.47M | 3.72M | ||||
| Total Debt Issued | 84.47M | 3.72M | ||||
| Short-Term Debt Repaid | -2.00M | |||||
| Long-Term Debt Repaid | -26.12M | -4.17M | ||||
| Total Debt Repaid | -28.12M | -4.17M | ||||
| Net Debt Issued (Repaid) | 56.35M | -445.00K | ||||
| Issuance of Common Stock | 462.61M | 561.72M | 332.11M | 118.66M | 1.45M | 3.57M |
| Other Financing Activities | -5.18M | -275.00K | ||||
| Financing Cash Flow | 462.61M | 561.72M | 332.11M | 169.83M | 1.45M | 2.85M |
| Net Cash Flow | 207.51M | 344.96M | 196.15M | 93.51M | -61.86M | -63.89M |
| Free Cash Flow | -255.10M | -216.89M | -135.97M | -76.32M | -63.32M | -66.74M |
| Free Cash Flow Margin | -490.06% | -417.50% | -213.37% | -130.59% | -122.96% | -153.36% |
| Free Cash Flow Per Share | -1.19 | -1.16 | -0.86 | -0.89 | -0.77 | -0.81 |
| Levered Free Cash Flow | -159.25M | -128.28M | -79.78M | -49.44M | -33.30M | -38.07M |
| Unlevered Free Cash Flow | -152.12M | -120.88M | -71.29M | -42.35M | -28.91M | -33.90M |
| Cash Interest Paid | 8.94M | 9.03M | 21.53M | 5.46M | 2.15M | 1.93M |
| Change in Working Capital | -2.37M | 7.71M | -10.23M | -7.41M | 1.35M | -2.90M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.48B | 2.59B | 1.34B | 491.58M | 216.40M | 533.97M |
| Enterprise Value | 958.76M | 2.32B | 990.54M | 464.04M | 155.15M | 413.42M |
| Last Close Price | 6.97 | 12.14 | 8.54 | 4.46 | 2.81 | 6.97 |
| PS Ratio | 28.56 | 49.78 | 21.07 | 8.41 | 4.20 | 12.27 |
| PB Ratio | 2.94 | 3.95 | 4.26 | 5.39 | 6.12 | 6.07 |
| P/TBV Ratio | 2.86 | 3.95 | 4.26 | 5.39 | 6.12 | 6.07 |
| EV/Sales Ratio | 18.59 | 44.63 | 15.54 | 7.94 | 3.01 | 9.50 |
| Debt / Equity Ratio | 0.15 | 0.12 | 0.24 | 0.92 | 1.82 | 0.67 |
| Net Debt / Equity Ratio | -1.00 | -1.01 | -1.00 | -1.23 | -1.07 | -1.20 |
| Net Debt / EBITDA Ratio | 1.68 | 2.48 | 2.01 | 1.42 | 0.50 | 1.39 |
| Net Debt / FCF Ratio | 2.04 | 3.04 | 2.33 | 1.47 | 0.60 | 1.58 |
| Asset Turnover | 0.09 | 0.08 | 0.18 | 0.29 | 0.29 | 0.19 |
| Inventory Turnover | 67.07 | 61.68 | 49.86 | 31.00 | 35.98 | 44.46 |
| Quick Ratio | 12.79 | 15.11 | 10.27 | 6.36 | 3.94 | 7.04 |
| Current Ratio | 13.11 | 15.39 | 10.66 | 6.66 | 4.13 | 7.26 |
| Return on Equity (ROE) | -72.99% | -54.85% | -95.21% | -127.64% | -115.16% | -7.99% |
| Return on Assets (ROA) | -34.95% | -26.66% | -28.32% | -25.66% | -27.76% | -20.90% |
| Return on Capital Employed (ROCE) | -50.50% | -35.70% | -38.60% | -37.90% | -66.70% | -43.70% |
| Earnings Yield | -21.01% | -10.28% | -14.41% | -16.42% | -32.83% | -1.23% |
| FCF Yield | -17.16% | -8.39% | -10.13% | -15.53% | -29.26% | -12.50% |
| Buyback Yield / Dilution | -26.40% | -18.31% | -84.90% | -3.57% | -0.59% | -35.24% |