IRD (Opus Genetics, Inc.) Stock Financials & Earnings | Market Cap Arena

IRD (Opus Genetics, Inc.) Stock Financials & Earnings | Market Cap Arena

IRDOpus Genetics, Inc.

Mkt Cap$349M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Revenue (TTM)$15M

Net Income (TTM)-$68M

EPS (TTM)-$1.72

Free Cash Flow (TTM)-$33M

Gross Margin5.6%

Op. Margin-445.4%

Net Margin-466.1%

FCF Margin-224.5%

P/S Ratio (TTM)23.8x

P/E Ratio (TTM)—

YoY Rev Growth+74.6%

Employees—

Earnings Reports

Next: Q4 2025 · Mar 30

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q4 22	$40M	$40M	$34M
Q1 23	$2M	-$4M	-$6M
Q2 23	$4M	$4M	-$5M
Q3 23	$12M	$12M	$6M
Q4 23	$2M	-$3M	-$5M
Q1 24	$2M	$2M	-$8M
Q2 24	$1M	$1M	-$8M
Q3 24	$4M	$4M	-$8M
Q4 24	$4M	-$3M	-$38M
Q1 25	$4M	$4M	-$10M
Q2 25	$3M	-$3M	-$9M
Q3 25	$3M	$3M	-$8M

Valuation

Quarter	P/S	P/E
Q4 22	8.7x	19.5x
Q1 23	8.4x	18.7x
Q2 23	7.7x	18.7x
Q3 23	6.1x	12.1x
Q4 23	18.3x	—
Q1 24	18.3x	—
Q2 24	21.2x	—
Q3 24	41.6x	—
Q4 24	31.7x	—
Q1 25	25.5x	—
Q2 25	22.6x	—
Q3 25	23.8x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 22	$29M	$29M
Q1 23	-$4M	-$4M
Q2 23	$989K	$989K
Q3 23	-$3M	-$3M
Q4 23	$5M	$5M
Q1 24	-$6M	-$6M
Q2 24	-$7M	-$7M
Q3 24	-$5M	-$5M
Q4 24	-$7M	-$7M
Q1 25	-$9M	-$9M
Q2 25	-$10M	-$10M
Q3 25	-$6M	-$6M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 22	—	-8.3%
Q1 23	—	+21.1%
Q2 23	—	+83.5%
Q3 23	—	+22.3%
Q4 23	-95.8%	+26.2%
Q1 24	-2.2%	+19.5%
Q2 24	-69.7%	+4.2%
Q3 24	-67.6%	+114.0%
Q4 24	+154.4%	+494.5%
Q1 25	+155.4%	+51.8%
Q2 25	+159.2%	+24.9%
Q3 25	-20.4%	-4.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 22	$424K	1.1%
Q1 23	$804K	46.0%
Q2 23	$1M	38.7%
Q3 23	$573K	4.8%
Q4 23	$711K	42.0%
Q1 24	$985K	57.6%
Q2 24	$806K	72.5%
Q3 24	$776K	20.1%
Q4 24	$795K	18.5%
Q1 25	$913K	20.9%
Q2 25	$896K	31.1%
Q3 25	$816K	26.5%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q4 22	$4M	$2M	—
Q1 23	$6M	$2M	—
Q2 23	$5M	$4M	—
Q3 23	$3M	$2M	—
Q4 23	$4M	$3M	—
Q1 24	$5M	$5M	—
Q2 24	$6M	$3M	—
Q3 24	$9M	$3M	—
Q4 24	$7M	$7M	—
Q1 25	$8M	$6M	—
Q2 25	$6M	$6M	—
Q3 25	$6M	—	$5M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$43M	$49K	$43M
Q1 23	$39M	$22K	$39M
Q2 23	$40M	$22K	$40M
Q3 23	$42M	$11K	$42M
Q4 23	$51M	$15K	$51M
Q1 24	$47M	$5K	$47M
Q2 24	$41M	$5K	$41M
Q3 24	$37M	$3K	$37M
Q4 24	$30M	$2K	$30M
Q1 25	$42M	$1K	$42M
Q2 25	$32M	$0	$32M
Q3 25	$31M	$0	$31M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q4 22	21M	+4.8%
Q1 23	21M	-2.5%
Q2 23	21M	+0.1%
Q3 23	22M	+6.9%
Q4 23	22M	-1.8%
Q1 24	25M	+11.5%
Q2 24	26M	+5.3%
Q3 24	26M	+1.2%
Q4 24	32M	+20.8%
Q1 25	34M	+7.3%
Q2 25	63M	+87.0%
Q3 25	71M	+11.5%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 19	$0	5
FY 20	$0	5
FY 21	$74K	8
FY 22	$4M	9
FY 23	$1M	14
FY 24	$611K	18