Saturday 17 October 2026 Export OCUL’s income statement to Excel — free account

Ocular Therapeutix, Inc.

Ocular Therapeutix, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $52.0 million, down 18.5% from fiscal 2024. In the quarter to June 2026, revenue was flat, EPS grew 10.3%, free cash flow fell 25.4% and total debt rose 4.13%, each against the same quarter a year earlier. Insiders bought in the last twelve months.

6.87 0.51 −6.91%

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Market cap: $1.6B
P/E: 0.0×
Fwd P/E: −5.3×
Dividend yield: —
F-score: 4/9
Altman Z: 6.91
Beneish M: −2.92
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.46

Total sells 3.15

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	1	—	—	—	—	—	—	—	—
Sell	5	—	—	10	—	—	4	1	—	5	—	1

Insider Ownership 10.76%

Capital & Financial Ratios $m

Market Cap 1,620.00

Revenue 52.05

Net Income (301.45)

Free Cash Flow (255.10)

Net Debt (525.85)

Current Ratio 13.11

Debt/Equity 0.14

P/E ratio 0.00

Fwd P/E (5.25)

P/S ratio 29.69

P/B ratio 2.97

Past 5Y EPS Growth —

This Y EPS Growth (5.38%)

Next Y EPS Growth 1.01%

Next Y revenue growth 1.88%

Next 5Y EPS Growth 9.07%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 36.71%

10-year low 10-year high

P/B against its own 10 years 11.49%

10-year low 10-year high

EV/Sales against its own 10 years 34.02%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	196	392	737	599
Receivables	26	32	31	30
Inventory	2	3	4	4
Other	—	—	—	—
	232	441	782	644

	2023	2024	2025	Q'26
Payables	4	4	4	7
ST’ Debt	—	—	—	—
Other	—	—	—	—
	35	41	51	49

Compound Annual Growth %

	10y	5y	3y
Sales	40.36%	24.45%	0.29%
Cash Flow	0.00%	0.00%	0.00%
Earnings	0.00%	0.00%	0.00%
Book Value	22.00%	53.77%	164.45%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	11	13	—	—	—
’25	11	13	15	13	52
’24	15	16	15	17	64
’23	13	15	15	15	58
’22	13	12	12	14	51
’21	7	12	12	12	44
’20	3	2	6	7	17

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(66)	(67)	—	—	—
’25	(45)	(55)	(51)	(54)	(205)
’24	(34)	(25)	(37)	(39)	(135)
’23	(20)	(20)	(8)	(22)	(70)
’22	(19)	(11)	(13)	(17)	(60)
’21	(17)	(20)	(13)	(15)	(66)
’20	(19)	(15)	(14)	(6)	(54)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(71)	(71)	—	—	—
’25	(47)	(56)	(57)	(57)	(217)
’24	(34)	(26)	(37)	(40)	(136)
’23	(23)	(22)	(8)	(23)	(76)
’22	(19)	(11)	(14)	(19)	(63)
’21	(18)	(20)	(13)	(16)	(67)
’20	(19)	(15)	(14)	(6)	(54)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.40)	(0.35)	—	—	—
’25	(0.38)	(0.39)	(0.38)	(0.29)	(1.42)
’24	(0.49)	(0.26)	(0.22)	(0.29)	(1.22)
’23	(0.39)	(0.26)	(0.01)	(0.35)	(1.02)
’22	(0.15)	(0.25)	(0.31)	(0.17)	(0.97)
’21	0.04	(0.10)	0.03	(0.04)	(0.08)
’20	(0.41)	(0.64)	(0.21)	(1.21)	(2.56)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	4.04	3.30	3.55	2.35	3.78	6.02	2.57	2.00	3.76	5.79	Analyst estimates 2026–2028 Powerpack
	High	14.50	11.79	8.28	5.55	24.30	23.68	7.38	7.96	11.78	16.44
People
People	Employees	118	119	167	161	181	228	274	267	274	325
	Revenue/emp, $m	0.02	0.02	0.01	0.03	0.10	0.19	0.19	0.22	0.23	0.16
Income, $m
Income, $m	Revenue	2	2	2	4	17	44	51	58	64	52
	Gross margin, %	76.52	76.24	76.63	45.00	88.03	89.88	91.18	90.96	91.17	87.35
	EBT	(45)	(63)	(60)	(86)	(156)	(7)	(71)	(81)	(194)	(266)
	EBT margin, %	(2,369.00)	(3,296.20)	(3,013.97)	(2,043.34)	(894.31)	(15.06)	(137.95)	(138.14)	(303.67)	(511.90)
	Net income	(45)	(63)	(60)	(86)	(156)	(7)	(71)	(81)	(194)	(266)
	Depreciation	1	2	2	3	3	2	2	3	4	4
Per share, $
Per share, $	Revenue	0.08	0.07	0.05	0.09	0.29	0.57	0.67	0.73	0.40	0.28
	Earnings	(1.80)	(2.20)	(1.57)	(1.91)	(2.56)	(0.09)	(0.92)	(1.01)	(1.22)	(1.42)
	Cash flow	(1.37)	(1.75)	(1.29)	(1.71)	(0.88)	(0.86)	(0.78)	(0.88)	(0.85)	(1.09)
	Capex	(0.08)	(0.29)	(0.05)	(0.05)	(0.01)	(0.02)	(0.05)	(0.08)	(0.01)	(0.06)
	Free cash flow	(1.45)	(2.04)	(1.34)	(1.76)	(0.90)	(0.87)	(0.82)	(0.96)	(0.86)	(1.16)
	Book value	2.10	0.91	0.94	(0.08)	1.25	1.15	0.46	1.14	1.99	3.49
	Shares, m	25	29	38	45	61	76	77	80	158	187
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	P/S	109.42	72.08	76.23	42.31	72.26	12.23	4.17	6.57	21.21	43.75
	P/B	3.97	5.30	4.23	0.00	16.53	6.05	6.06	4.21	4.29	3.47
	EV/Sales	80.77	56.97	61.52	41.09	61.53	9.64	3.23	4.50	16.13	30.94
	EV/FCF	(4.24)	(1.87)	(2.39)	(2.18)	(19.68)	(6.29)	(2.62)	(3.45)	(7.56)	(7.42)
Cash, $m
Cash, $m	Operating cash flow	(34)	(50)	(49)	(78)	(54)	(66)	(60)	(70)	(135)	(205)
	Capex	(2)	(8)	(2)	(2)	(1)	(1)	(4)	(6)	(1)	(12)
	Free cash flow	(36)	(59)	(51)	(80)	(54)	(67)	(63)	(76)	(136)	(217)
Balance, $m
Balance, $m	Working capital	62	30	47	48	219	165	98	197	400	731
	Total debt	14	12	25	49	41	51	54	75	69	71
	Net debt	(54)	(29)	(29)	(5)	(187)	(113)	(48)	(121)	(324)	(666)
	Shareholders’ equity	52	26	36	(4)	76	88	35	91	315	654
Returns, %
Returns, %	ROA	(48.26)	(97.24)	(93.37)	(113.81)	(91.39)	(2.81)	(40.11)	(40.23)	(54.51)	(42.01)
	ROIC	0.00	0.00	(559.74)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	ROE	(63.14)	(162.21)	(193.41)	(535.72)	(429.55)	(7.99)	(115.16)	(127.64)	(95.21)	(54.85)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
NUVB Nuvation Bio Inc.	$1.7B	— (loss-making)	— (loss-making)	+555.64% (above 0%: growing)	n/m	+10.62% (above 0%: growing)	70.11%	(161.06%)	Compare
ZBIO Zenas BioPharma, Inc.	$1.7B	— (loss-making)	— (loss-making)	—	n/m	−37.12% (below 0%: shrinking)	100.00%	(10,765.90%)	Compare
OCUL Ocular Therapeutix, Inc.	$1.6B	— (loss-making)	— (loss-making)	+0.12% (above 0%: growing)	n/m	−25.35% (below 0%: shrinking)	85.08%	(609.34%)
NTLA Intellia Therapeutics, Inc.	$1.6B	— (loss-making)	— (loss-making)	−46.23% (below 0%: shrinking)	n/m	+15.05% (above 0%: growing)	100.00%	(1,472.25%)	Compare
STOK Stoke Therapeutics, Inc.	$1.6B	— (loss-making)	— (loss-making)	−32.51% (below 0%: shrinking)	n/m	−128.97% (below 0%: shrinking)	100.00%	(701.65%)	Compare
GPCR Structure Therapeutics Inc. Sponsored ADR	$1.6B	— (loss-making)	—	—	n/m	−119.15% (below 0%: shrinking)	0.00%	0.00%	Compare
QURE uniQure N.V.	$1.6B	— (loss-making)	— (loss-making)	+11.00% (above 0%: growing)	n/m	+27.66% (above 0%: growing)	94.01%	(893.73%)	Compare
KRSA Korsana Biosciences, Inc.	$1.5B	— (loss-making)	— (loss-making)	−43.24% (below 0%: shrinking)	n/m	−184.69% (below 0%: shrinking)	100.00%	0.00%	Compare
MAZE Maze Therapeutics, Inc.	$1.5B	— (loss-making)	—	—	n/m	+50.21% (above 0%: growing)	100.00%	0.00%	Compare
Median of peers	$1.6B	—	—	−32.51%	—	−13.25%	100.00%	(431.35%)

All 614 Biotechnology stocks →

Ocular Therapeutix, Inc. (OCUL) key facts

Concern: Ocular Therapeutix, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $52.0 million, down 18.5% from fiscal 2024.
Ocular Therapeutix, Inc. (OCUL) is a Biotechnology company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, OCUL traded at $6.87, a market capitalization of $1.6 billion.
Return on equity was −54.9% and debt-to-equity 0.14.
Its Piotroski F-score is 4 out of 9 and its Altman Z-score is 6.91 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.