Ocugen, Inc. (OCGN) Financial Statements
Industry: Biological Products, (No Diagnostic Substances)
In fiscal 2025, Ocugen reported revenue of $4.4M, up 8.8% from $4.1M the year before. Net income was -$67.8M (a -1537.4% net margin), or -$0.23 per diluted share. Operating margin was -1425.7%. Operating activities generated -$57.0M of cash, leaving -$57.1M of free cash flow. At fiscal year end, Ocugen held $43.5M in total assets against $55.7M in total liabilities.
Open the full interactive Ocugen financials → Quarterly statements, key ratios, valuation history and price charts.
Ocugen Key Stats
| Share Price | $0.88 |
|---|---|
| Market Cap | $299.7M |
| Revenue YoY Growth | +8.8% |
| 52-Week Range | $0.88 – $2.48 |
| Shares Outstanding | 338.7 million (basic, 2026 Q2) |
Ocugen Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $42,620 | $0 | $0 | $6.0M | $4.1M | $4.4M |
| Operating Income | -$21.3M | -$58.0M | -$84.9M | -$65.5M | -$54.8M | -$62.9M |
| Pre-Tax Income | -$21.8M | -$58.4M | -$81.4M | -$63.1M | -$54.1M | -$67.8M |
| Income Tax | — | -$52,000 | $0 | $0 | $0 | $0 |
| Net Income | -$21.8M | -$58.4M | -$81.4M | -$63.1M | -$54.1M | -$67.8M |
| Diluted EPS | -$0.31 | -$0.30 | -$0.38 | -$0.26 | -$0.20 | -$0.23 |
Ocugen Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $1.8M | — | $1.5M | $1.5M |
| Net Income | -$20.1M | -$17.7M | -$19.2M | -$24.9M |
| Diluted EPS | -$0.07 | -$0.06 | -$0.06 | -$0.07 |
Ocugen Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $24.0M | $95.0M | $77.6M | $39.5M | — | — |
| Current Assets | $25.9M | $102.6M | $98.5M | $43.0M | $61.7M | $24.3M |
| Total Assets | $27.4M | $105.8M | $108.6M | $64.5M | $82.4M | $43.5M |
| Current Liabilities | $3.6M | $7.0M | $18.5M | $17.1M | $21.6M | $23.0M |
| Total Long-Term Debt | $2.1M | $1.7M | $2.3M | $2.8M | $28.7M | $28.8M |
| Total Liabilities | $5.8M | $9.9M | $24.6M | $24.0M | $52.8M | $55.7M |
| Shareholders' Equity | $21.6M | $95.8M | $84.1M | $40.6M | $29.6M | -$12.2M |
Ocugen Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$14.7M | -$47.9M | -$60.1M | -$62.1M | -$42.1M | -$57.0M |
| Cash From Investing | -$306,825 | -$1.8M | -$17.0M | $3.1M | -$3.4M | -$311,000 |
| Cash From Financing | $31.6M | $120.7M | $59.5M | $20.9M | $64.9M | $17.3M |
| Free Cash Flow | -$15.0M | -$48.9M | -$64.5M | -$72.5M | -$45.5M | -$57.1M |
Figures from Ocugen's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Ocugen financials page for every line item.
Ocugen Company Profile
| Ticker | OCGN |
|---|---|
| Exchange | Nasdaq |
| Industry | Biological Products, (No Diagnostic Substances) |
| Headquarters | Malvern, Pennsylvania |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0001372299 |
Frequently Asked Questions
What was Ocugen's revenue in fiscal 2025?
Ocugen (OCGN) reported revenue of $4.4M for fiscal 2025.
What is Ocugen's annual revenue history?
Ocugen's annual revenue by fiscal year: 2020: $42,620; 2021: $0; 2022: $0; 2023: $6.0M; 2024: $4.1M; 2025: $4.4M.
What was Ocugen's net income in fiscal 2025?
Ocugen reported net income of -$67.8M for fiscal 2025.
What was Ocugen's earnings per share (EPS) in fiscal 2025?
Ocugen's diluted EPS was -$0.23 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Ocugen generate in fiscal 2025?
Ocugen generated -$57.1M of free cash flow in fiscal 2025.
What was Ocugen's revenue last quarter?
In its most recent reported quarter (2026 Q2), Ocugen reported revenue of $1.5M.
How much debt does Ocugen have?
Ocugen reported $28.8M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Ocugen are outstanding?
Ocugen reported a weighted average of 338.7 million basic shares outstanding in 2026 Q2.
What is Ocugen's market cap?
Based on its latest closing price, Ocugen (OCGN) has a market capitalization of about $299.7M.
When does Ocugen's fiscal year end?
Ocugen's fiscal year end, as registered with the SEC, is December 31.
Where is Ocugen headquartered?
Ocugen lists its business address in Malvern, Pennsylvania in its SEC filings.
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