IRD

MKT CAP:$372M

Opus Genetics, Inc.

Market Cap

$372M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$5.47+$3.35 (+158.02%)

Apr 22, 2026

Company Details

Opus Genetics, Inc., a clinical-stage ophthalmic biopharmaceutical company, focuses on developing and commercializing therapies for the treatment of unmet needs of patients with refractive and retinal eye disorders. The company offers Phent...

CEO

George Magrath

IPO Date

Jan 19, 2015

Website

opusgtx.com

Key Metrics TTM

Revenue

$14M

+29.1% YoY

Net Income

-$50M

EPS (Diluted)

-$0.80

Free Cash Flow

-$35M

Revenue / Share

$0.02

Gross Margin

57.4%

Operating Margin

-271.9%

Net Margin

-349.3%

FCF Margin

-248.3%

P/S

26.2x

P/E

—

Earnings Reports

FY 2025

Mar 12, 2026

$14M+29.1%EPS -$0.80

Q4 2025

Mar 12, 2026

$4M-10.2%EPS -$0.19

Q3 2025

Nov 12, 2025

$3M-20.4%EPS -$0.25

Q2 2025

Aug 13, 2025

$3M+159.2%EPS -$0.12

Q1 2025

May 15, 2025

$4M+155.4%EPS -$0.24

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$0	$0	-$7M
Q2 22	$0	$0	-$5M
Q3 22	$0	$0	-$5M
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
Q4 25	$4M	$4M	-$11M

Valuation

Quarter	P/S	P/E
Q1 22	58.1x	—
Q2 22	70.0x	—
Q3 22	—	—
Q4 22	0.9x	1.9x
Q1 23	0.8x	1.8x
Q2 23	0.8x	1.8x
Q3 23	0.6x	1.2x
Q4 23	1.8x	—
Q1 24	1.8x	—
Q2 24	2.1x	—
Q3 24	4.1x	—
Q4 24	2.7x	—
Q1 25	1.9x	—
Q2 25	1.9x	—
Q3 25	7.8x	—
Q4 25	8.9x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$6M	-$6M
Q2 22	-$4M	-$4M
Q3 22	-$4M	-$4M
Q4 22	$29M	$29M
Q1 23	-$4M	-$4M
Q2 23	$989.0K	$989.0K
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
Q4 25	-$10M	-$10M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	—	+25.5%
Q2 22	-100.0%	-31.8%
Q3 22	-100.0%	-3.9%
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%
Q4 25	-10.2%	-63.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$445.0K	—
Q2 22	$445.0K	—
Q3 22	$493.0K	—
Q4 22	$424.0K	1.1%
Q1 23	$804.0K	46.0%
Q2 23	$1M	38.7%
Q3 23	$573.0K	4.8%
Q4 23	$711.0K	42.0%
Q1 24	$985.0K	57.6%
Q2 24	$806.0K	72.5%
Q3 24	$776.0K	20.1%
Q4 24	$795.0K	18.5%
Q1 25	$913.0K	20.9%
Q2 25	$896.0K	31.1%
Q3 25	$816.0K	26.5%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 22	$5M	$2M	—
Q2 22	$3M	$2M	—
Q3 22	$3M	$2M	—
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
Q4 25	$10M	$5M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$19M	$135.0K	$19M
Q2 22	$17M	$126.0K	$17M
Q3 22	$14M	$101.0K	$14M
Q4 22	$43M	$49.0K	$43M
Q1 23	$39M	$22.0K	$39M
Q2 23	$40M	$22.0K	$40M
Q3 23	$42M	$11.0K	$42M
Q4 23	$51M	$15.0K	$51M
Q1 24	$47M	$5.0K	$47M
Q2 24	$41M	$5.0K	$41M
Q3 24	$37M	$3.0K	$37M
Q4 24	$30M	$2.0K	$30M
Q1 25	$42M	$1.0K	$42M
Q2 25	$32M	$0	$32M
Q3 25	$31M	$0	$31M
Q4 25	$45M	$0	$45M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	19M	+5.8%	+72.9%
Q2 22	20M	+3.3%	+43.3%
Q3 22	20M	+5.1%	+21.1%
Q4 22	21M	+4.8%	+20.3%
Q1 23	21M	-2.5%	+10.9%
Q2 23	21M	+0.1%	+7.5%
Q3 23	22M	+6.9%	+9.3%
Q4 23	22M	-1.8%	+2.4%
Q1 24	25M	+11.5%	+17.1%
Q2 24	26M	+5.3%	+23.2%
Q3 24	26M	+1.2%	+16.7%
Q4 24	32M	+20.8%	+43.5%
Q1 25	34M	+7.3%	+38.2%
Q2 25	63M	+87.0%	+145.4%
Q3 25	71M	+11.5%	+170.2%
Q4 25	622M	+780.9%	+1870.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$0	8
Q2 22	$0	8
Q3 22	$0	8
Q4 22	$4M	9
Q1 23	$194.3K	9
Q2 23	$408.2K	9
Q3 23	$1M	9
Q4 23	$120.8K	14
Q1 24	$122.2K	14
Q2 24	$79.4K	14
Q3 24	$276.2K	14
Q4 24	$239.0K	18
Q1 25	$242.8K	18
Q2 25	$160.1K	18
Q3 25	$171.1K	18
Q4 25	$143.1K	27

Revenue / Employee