OCGN (Ocugen, Inc.) Stock Financials & Earnings | Market Cap Arena

OCGN (Ocugen, Inc.) Stock Financials & Earnings | Market Cap Arena

OCGNOcugen, Inc.

Mkt Cap$578M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Revenue (TTM)$4M

Net Income (TTM)-$68M

EPS (TTM)-$0.23

Free Cash Flow (TTM)-$57M

Gross Margin45.9%

Op. Margin-1425.7%

Net Margin-1537.4%

FCF Margin-1295.0%

P/S Ratio (TTM)130.9x

P/E Ratio (TTM)—

YoY Rev Growth+8.8%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$443K	-$10M	-$18M
Q2 23	$485K	-$14M	-$24M
Q3 23	$4M	-$3M	-$12M
Q4 23	$6M	$6M	-$9M
Q1 24	$1M	$1M	-$12M
Q2 24	$1M	$1M	-$15M
Q3 24	$1M	$1M	-$13M
Q4 24	$764K	$764K	-$14M
Q1 25	$1M	$1M	-$15M
Q2 25	$1M	$1M	-$14M
Q3 25	$2M	$2M	-$18M
Q4 25	-$193K	-$3M	-$17M

Valuation

Quarter	P/S	P/E
Q1 23	1304.1x	—
Q2 23	622.5x	—
Q3 23	124.9x	—
Q4 23	54.2x	—
Q1 24	51.4x	—
Q2 24	48.6x	—
Q3 24	61.9x	—
Q4 24	142.5x	—
Q1 25	127.8x	—
Q2 25	121.5x	—
Q3 25	107.6x	—
Q4 25	130.9x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$18M	-$20M
Q2 23	-$19M	-$22M
Q3 23	-$14M	-$17M
Q4 23	-$11M	-$14M
Q1 24	-$11M	-$13M
Q2 24	-$10M	-$10M
Q3 24	-$11M	-$12M
Q4 24	-$10M	-$10M
Q1 25	-$19M	-$19M
Q2 25	-$11M	-$11M
Q3 25	-$13M	-$13M
Q4 25	-$14M	-$14M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$2M
Q2 23	$3M
Q3 23	$3M
Q4 23	$3M
Q1 24	$2M
Q2 24	$513K
Q3 24	$507K
Q4 24	$13K
Q1 25	$16K
Q2 25	$43K
Q3 25	$91K
Q4 25	$35K

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	—	+2.5%
Q2 23	—	+22.8%
Q3 23	—	-30.2%
Q4 23	—	-39.3%
Q1 24	+128.9%	-28.4%
Q2 24	+135.3%	-30.9%
Q3 24	-69.3%	-10.8%
Q4 24	-87.3%	-0.4%
Q1 25	+46.1%	+20.8%
Q2 25	+20.3%	-8.6%
Q3 25	+54.2%	+34.7%
Q4 25	-125.3%	+15.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$3M	607.0%
Q2 23	$3M	542.7%
Q3 23	$2M	58.8%
Q4 23	$2M	28.5%
Q1 24	$2M	173.7%
Q2 24	$2M	166.3%
Q3 24	$2M	166.5%
Q4 24	$2M	245.5%
Q1 25	$2M	127.3%
Q2 25	$2M	134.4%
Q3 25	$2M	112.7%
Q4 25	$2M	—

OpEx Breakdown

Quarter	R&D	G&A
Q1 23	$10M	$8M
Q2 23	$15M	$9M
Q3 23	$7M	$9M
Q4 23	$10M	$5M
Q1 24	$7M	$6M
Q2 24	$9M	$8M
Q3 24	$8M	$6M
Q4 24	$8M	$6M
Q1 25	$10M	$6M
Q2 25	$8M	$7M
Q3 25	$11M	$8M
Q4 25	$11M	$6M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$68M	$8M	$77M
Q2 23	$71M	$0	$71M
Q3 23	$53M	$0	$53M
Q4 23	$39M	$0	$39M
Q1 24	$26M	$0	$26M
Q2 24	$16M	$0	$16M
Q3 24	$39M	$0	$39M
Q4 24	$59M	$0	$59M
Q1 25	$38M	$0	$38M
Q2 25	$27M	$0	$27M
Q3 25	$33M	$0	$33M
Q4 25	$19M	$0	$19M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	226M	+2.5%
Q2 23	238M	+5.7%
Q3 23	256M	+7.6%
Q4 23	257M	+0.0%
Q1 24	257M	+0.3%
Q2 24	257M	+0.0%
Q3 24	278M	+8.1%
Q4 24	291M	+4.6%
Q1 25	292M	+0.4%
Q2 25	292M	+0.0%
Q3 25	304M	+4.1%
Q4 25	312M	+2.7%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$0	42
FY 15	$0	49
FY 16	$0	47
FY 17	$0	45
FY 18	$0	49
FY 19	$0	16
FY 20	$3K	15
FY 21	$0	56
FY 22	$30K	84
FY 23	$93K	65
FY 24	$43K	95
FY 25	$14	310K