OCS

MKT CAP:$2B

Oculis Holding AG

Market Cap

$2B

Healthcare·Biotechnology·🇨🇭 Switzerland·NASDAQ

Healthcare·Biotechnology·🇨🇭·NASDAQ

Stock Price

$26.77+$6.77 (+33.85%)

Apr 23, 2026

Company Details

Oculis Holding AG, a clinical-stage biopharmaceutical company, develops novel topical treatments for ophthalmic diseases for both back- and front-of-the-eye. The company's lead candidate is OCS-01, a topical dexamethasone formulation, which...

CEO

Riad Sherif

IPO Date

May 18, 2021

Website

oculis.com

Key Metrics TTM

Revenue

$641.5K

— YoY

Net Income

-$126M

EPS (Diluted)

-$2.44

Free Cash Flow

-$85M

Revenue / Share

$0.01

Gross Margin

-2858.1%

Operating Margin

-16254.4%

Net Margin

-19598.9%

FCF Margin

-13292.2%

P/S

2394.7x

P/E

—

Earnings Reports

Q1 2026

May 7, 2026

PENDING

FY 2025

Mar 4, 2026

$0-100.0%EPS -$2.30

Q4 2025

Mar 4, 2026

$0EPS -$0.53

Q3 2025

Sep 30, 2025

$309.3KEPS -$0.41

Q2 2025

Jun 30, 2025

$332.2KEPS -$0.62

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$315.6K	-$7M	-$9M
Q2 22	$0	$0	-$12M
Q3 22	$0	$0	-$9M
Q4 22	$0	$0	-$14M
Q1 23	$0	$0	-$57M
Q2 23	$0	$0	-$14M
Q3 23	$0	$0	-$16M
Q4 23	$0	$0	-$16M
Q1 24	$0	$0	-$20M
Q2 24	$0	$0	-$29M
Q3 24	$0	$0	-$23M
Q4 24	$0	$0	-$22M
Q1 25	$0	$0	-$25M
Q2 25	$332.2K	-$19M	-$26M
Q3 25	$309.3K	$309.3K	-$26M
Q4 25	$0	$0	-$27M

Valuation

Quarter	P/S	P/E
Q1 22	—	—
Q2 22	4866.7x	—
Q3 22	4866.7x	—
Q4 22	4866.7x	—
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	—	—
Q4 24	—	—
Q1 25	—	—
Q2 25	4624.3x	—
Q3 25	2394.7x	—
Q4 25	2394.7x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$7M	-$7M
Q2 22	-$7M	-$7M
Q3 22	-$9M	-$9M
Q4 22	-$8M	-$10M
Q1 23	-$20M	-$20M
Q2 23	-$17M	-$17M
Q3 23	-$15M	-$15M
Q4 23	-$17M	-$17M
Q1 24	-$17M	-$17M
Q2 24	-$17M	-$17M
Q3 24	-$13M	-$13M
Q4 24	-$13M	-$13M
Q1 25	-$24M	-$26M
Q2 25	-$22M	-$22M
Q3 25	-$17M	-$17M
Q4 25	-$20M	-$20M

Capital Expenditures

Quarter	CapEx
Q1 22	$13.4K
Q2 22	$13.4K
Q3 22	$651.6K
Q4 22	$2M
Q1 23	$0
Q2 23	$30.5K
Q3 23	$24.2K
Q4 23	$6.4K
Q1 24	$0
Q2 24	$24.2K
Q3 24	$196.0K
Q4 24	$72.5K
Q1 25	$1M
Q2 25	$160.4K
Q3 25	$157.8K
Q4 25	$47.1K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 22	—	+136.7%
Q4 22	—	+137.4%
Q1 23	-100.0%	+502.2%
Q2 23	—	+16.3%
Q3 23	—	+88.5%
Q4 23	—	+9.6%
Q1 24	—	-65.8%
Q2 24	—	+109.3%
Q3 24	—	+39.9%
Q4 24	—	+41.7%
Q1 25	—	+30.3%
Q2 25	—	-6.5%
Q3 25	—	+13.3%
Q4 25	—	+21.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$295.9K	93.8%
Q2 22	$498.9K	—
Q3 22	$246.9K	—
Q4 22	$184.5K	—
Q1 23	$184.5K	—
Q2 23	$2M	—
Q3 23	$2M	—
Q4 23	$1M	—
Q1 24	$1M	—
Q2 24	$4M	—
Q3 24	$3M	—
Q4 24	$4M	—
Q1 25	$3M	—
Q2 25	$6M	1739.5%
Q3 25	$0	0.0%
Q4 25	$0	—

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 22	$7M	$3M	—
Q2 22	$9M	$3M	—
Q3 22	$6M	$2M	—
Q4 22	$9M	$2M	—
Q1 23	$8M	$3M	—
Q2 23	$8M	$5M	—
Q3 23	$11M	$5M	—
Q4 23	$10M	$5M	—
Q1 24	$14M	$5M	—
Q2 24	$21M	$7M	—
Q3 24	$17M	$6M	—
Q4 24	$15M	$6M	—
Q1 25	$19M	$6M	—
Q2 25	$19M	$7M	—
Q3 25	$18M	$8M	—
Q4 25	$17M	—	$10M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 21	$59M	$0	$59M
Q2 22	$43M	$0	$43M
Q3 22	$36M	$0	$36M
Q4 22	$25M	$0	$25M
Q2 23	$53M	$92M	$145M
Q3 23	$39M	$97M	$136M
Q4 23	$49M	$68M	$117M
Q1 24	$31M	$71M	$102M
Q2 24	$56M	$94M	$150M
Q3 24	$45M	$89M	$134M
Q4 24	$35M	$90M	$126M
Q1 25	$76M	$155M	$232M
Q2 25	$82M	$122M	$204M
Q3 25	$59M	$0	$59M
Q4 25	$104M	$168M	$271M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	33M	0.0%	—
Q2 22	33M	0.0%	—
Q3 22	33M	0.0%	0.0%
Q4 22	33M	0.0%	0.0%
Q1 23	33M	+1.3%	+1.3%
Q2 23	34M	+1.3%	+2.5%
Q3 23	36M	+8.1%	+10.8%
Q4 23	37M	+1.3%	+12.3%
Q1 24	37M	-0.4%	+10.5%
Q2 24	41M	+10.7%	+20.8%
Q3 24	42M	+3.1%	+15.3%
Q4 24	42M	0.0%	+13.7%
Q1 25	48M	+15.4%	+31.8%
Q2 25	52M	+8.3%	+29.0%
Q3 25	53M	+0.7%	+26.0%
Q4 25	56M	+6.3%	+33.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	$0	28
Q1 23	$0	28
Q2 23	$0	28
Q3 23	$0	28
Q4 23	$0	36
Q1 24	$0	36
Q2 24	$0	36
Q3 24	$0	36
Q4 24	$0	49
Q1 25	$0	49
Q2 25	$6.8K	49
Q3 25	$6.3K	49
Q4 25	$0	200K

Revenue / Employee