OVID

MKT CAP:$395M

Ovid Therapeutics Inc.

Market Cap

$395M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$2.60+$0.84 (+47.73%)

Apr 24, 2026

Company Details

Ovid Therapeutics Inc., a biopharmaceutical company, develops impactful medicines for patients and families with neurological disorders in the United States. The company is developing OV101, a drug candidate, which is in Phase 2A clinical t...

CEO

Jeremy Max Levin Ba Zoology Dphil Mb Bchir

IPO Date

May 5, 2017

Website

www.ovidrx.com

Key Metrics TTM

Revenue

$7M

+1181.3% YoY

Net Income

-$17M

EPS (Diluted)

-$0.26

Free Cash Flow

-$38M

Revenue / Share

$0.09

Gross Margin

95.9%

Operating Margin

-585.2%

Net Margin

-240.1%

FCF Margin

-528.6%

P/S

54.5x

P/E

—

Earnings Reports

Q1 2026

May 12, 2026

PENDING

FY 2025

Mar 18, 2026

$7M+1181.3%EPS -$0.24

Q4 2025

Mar 18, 2026

$718.0K+844.7%EPS $0.12

Q3 2025

Nov 12, 2025

$132.0K-23.7%EPS -$0.17

Q2 2025

Aug 13, 2025

$6M+3611.2%EPS -$0.07

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$1M	$1M	-$16M
Q2 22	$0	$0	-$14M
Q3 22	$11.1K	$11.1K	-$13M
Q4 22	$46.3K	$46.3K	-$12M
Q1 23	$66.0K	$66.0K	-$15M
Q2 23	$75.0K	$75.0K	-$14M
Q3 23	$109.0K	$109.0K	-$12M
Q4 23	$142.0K	$142.0K	-$18M
Q1 24	$148.0K	$148.0K	-$17M
Q2 24	$169.0K	$169.0K	-$21M
Q3 24	$173.0K	$173.0K	-$13M
Q4 24	$76.0K	$76.0K	-$11M
Q1 25	$130.0K	$130.0K	-$13M
Q2 25	$6M	$6M	-$5M
Q3 25	$132.0K	$115.0K	-$13M
Q4 25	$718.0K	$435.0K	-$12M

Valuation

Quarter	P/S	P/E
Q1 22	156.0x	—
Q2 22	91.3x	—
Q3 22	90.5x	—
Q4 22	94.0x	—
Q1 23	1537.8x	—
Q2 23	1210.3x	—
Q3 23	849.4x	—
Q4 23	575.5x	—
Q1 24	462.3x	—
Q2 24	107.7x	—
Q3 24	132.6x	—
Q4 24	120.1x	—
Q1 25	40.4x	—
Q2 25	3.5x	—
Q3 25	0.3x	—
Q4 25	16.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$20M	-$20M
Q2 22	-$13M	-$15M
Q3 22	-$13M	-$13M
Q4 22	-$9M	-$9M
Q1 23	-$12M	-$12M
Q2 23	-$12M	-$12M
Q3 23	-$10M	-$10M
Q4 23	-$12M	-$12M
Q1 24	-$17M	-$17M
Q2 24	-$14M	-$14M
Q3 24	-$15M	-$15M
Q4 24	-$10M	-$10M
Q1 25	-$10M	-$10M
Q2 25	-$5M	-$5M
Q3 25	-$13M	-$13M
Q4 25	-$10M	-$10M

Capital Expenditures

Quarter	CapEx
Q1 22	$45.9K
Q2 22	$1M
Q3 22	$18.6K
Q4 22	$63.0K
Q1 23	$13.6K
Q2 23	$7.8K
Q3 23	$5.2K
Q4 23	$1.2K
Q1 24	$19.0K
Q2 24	$34.0K
Q3 24	$4.0K
Q4 24	$22.0K
Q1 25	$0
Q2 25	$0
Q3 25	$0
Q4 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-74.7%	-35.1%
Q2 22	—	-0.1%
Q3 22	—	+9.7%
Q4 22	—	-53.6%
Q1 23	-95.4%	-15.6%
Q2 23	—	-0.4%
Q3 23	+881.8%	-5.3%
Q4 23	+206.8%	+50.0%
Q1 24	+124.2%	+17.4%
Q2 24	+125.3%	+45.2%
Q3 24	+58.7%	+10.4%
Q4 24	-46.5%	-41.1%
Q1 25	-12.2%	-27.8%
Q2 25	+3611.2%	-45.2%
Q3 25	-23.7%	-5.6%
Q4 25	+844.7%	+20.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$1M	91.7%
Q2 22	$2M	—
Q3 22	$0	0.0%
Q4 22	$2M	3737.3%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$2M	1496.4%
Q4 23	$2M	1259.9%
Q1 24	$2M	1329.7%
Q2 24	$0	0.0%
Q3 24	$1M	756.1%
Q4 24	$0	0.0%
Q1 25	$1M	987.7%
Q2 25	$1M	19.4%
Q3 25	$0	0.0%
Q4 25	$1M	166.4%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 22	$8M	$10M	—
Q2 22	$6M	$8M	—
Q3 22	$5M	$8M	—
Q4 22	$6M	$7M	—
Q1 23	$7M	$8M	—
Q2 23	$6M	$7M	—
Q3 23	$5M	$7M	—
Q4 23	$11M	$6M	—
Q1 24	$10M	$7M	—
Q2 24	$13M	$8M	—
Q3 24	$8M	$6M	—
Q4 24	$6M	$7M	—
Q1 25	$7M	$6M	—
Q2 25	$6M	$5M	—
Q3 25	$6M	—	$7M
Q4 25	$7M	$6M	—

Revenue Segments

Quarter	License	Reportable Segment
Q1 22	$1M	—
Q3 22	$11.1K	—
Q4 22	$46.3K	—
Q1 25	—	$130.0K
Q2 25	—	$6M
Q3 25	—	$132.0K
Q4 25	—	$718.0K

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$167M	$0	$167M
Q2 22	$73M	$80M	$152M
Q3 22	$58M	$80M	$138M
Q4 22	$129M	$0	$129M
Q1 23	$63M	$55M	$118M
Q2 23	$72M	$25M	$97M
Q3 23	$57M	$30M	$87M
Q4 23	$27M	$79M	$106M
Q1 24	$31M	$59M	$90M
Q2 24	$30M	$47M	$77M
Q3 24	$15M	$48M	$63M
Q4 24	$26M	$27M	$53M
Q1 25	$21M	$22M	$43M
Q2 25	$28M	$10M	$38M
Q3 25	$21M	$5M	$26M
Q4 25	$13M	$56M	$70M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	70M	+3.2%	+9.9%
Q2 22	70M	+0.1%	+3.8%
Q3 22	70M	+0.1%	+3.7%
Q4 22	70M	+0.1%	+3.4%
Q1 23	70M	+0.0%	+0.2%
Q2 23	71M	+0.1%	+0.2%
Q3 23	71M	+0.1%	+0.3%
Q4 23	71M	+0.1%	+0.3%
Q1 24	71M	+0.0%	+0.3%
Q2 24	71M	+0.7%	+0.9%
Q3 24	71M	-0.3%	+0.5%
Q4 24	71M	+0.0%	+0.5%
Q1 25	71M	+0.0%	+0.5%
Q2 25	71M	+0.1%	-0.1%
Q3 25	71M	0.0%	+0.2%
Q4 25	82M	+14.9%	+15.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$25.4K	57
Q2 22	$0	57
Q3 22	$195	57
Q4 22	$1.1K	44
Q1 23	$1.5K	44
Q2 23	$1.7K	44
Q3 23	$2.5K	44
Q4 23	$3.5K	40
Q1 24	$3.7K	40
Q2 24	$4.2K	40
Q3 24	$4.3K	40
Q4 24	$3.3K	23
Q1 25	$5.7K	23
Q2 25	$272.7K	23
Q3 25	$5.7K	23
Q4 25	$31.2K	23

Revenue / Employee