OCGN

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Ocugen, Inc.

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Key Metrics

Previous Close: $1.48
52-Week Range: $0.99 – $2.73
Market Cap: $471.36M
P/E (TTM): —
EPS (TTM): -0.26
Dividend Yield: —

Advanced Metrics

Price/Book: —
PEG Ratio: —
Return on Equity: —
Return on Assets: -48.44%
Gross Margin: 0.00%
Operating Margin: -1105.11%
Profit Margin: 0.00%
Current Ratio: 0.80
Debt/Equity: —
Total Debt: $87.99M
Free Cash Flow: $-1.97M
Revenue Growth: 8.40%
Earnings Growth: —
Enterprise Value: $459.30M

OCGN Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$2.49M	$6.04M	$4.05M	$4.41M
Research & Development	$56.16M	$39.57M	$32.13M	$39.75M
Selling, General & Admin	$35.40M	$31.99M	$26.69M	$27.58M
Operating Expenses	$91.56M	$71.57M	$58.81M	$67.33M
Operating Income	-$89.07M	-$65.53M	-$54.76M	-$62.92M
EBITDA	-$88.59M	-$64.83M	-$51.40M	-$60.27M
Pretax Income	-$86.80M	-$63.08M	-$54.05M	-$67.85M
Income Tax	$0.00	—	—	—
Net Income	-$86.80M	-$63.08M	-$54.05M	-$67.85M
Diluted EPS	-0.38	-0.26	-0.20	-0.23
Diluted Shares	214.60M	244.33M	271.00M	300.17M

OCGN Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$77.56M	$39.46M	$58.51M	$18.57M
Current Assets	$98.49M	$42.97M	$61.68M	$24.34M
Total Assets	$108.63M	$64.55M	$82.44M	$43.52M
Current Liabilities	$28.53M	$17.09M	$21.59M	$23.04M
Long-Term Debt	$2.29M	$2.80M	$27.34M	$27.54M
Total Debt	$6.37M	$6.94M	$32.50M	$33.14M
Total Liabilities	$34.65M	$23.98M	$52.81M	$55.68M
Retained Earnings	-$223.09M	-$286.17M	-$340.22M	-$408.07M
Shareholders' Equity	$73.98M	$40.56M	$29.63M	-$12.17M
Working Capital	$69.96M	$25.88M	$40.09M	$1.30M
Net Debt	—	—	—	$10.22M

OCGN Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$60.08M	-$62.05M	-$42.14M	-$56.96M
Capital Expenditure	-$4.46M	-$10.48M	-$3.38M	-$185.00K
Free Cash Flow	-$64.54M	-$72.53M	-$45.53M	-$57.15M
Depreciation & Amortisation	$480.00K	$704.00K	$1.97M	$2.39M
Stock-Based Compensation	$10.54M	$9.22M	$7.43M	$7.71M
Investing Cash Flow	-$16.97M	$3.08M	-$3.38M	-$311.00K
Financing Cash Flow	$59.48M	$20.88M	$64.86M	$17.33M
Net Change in Cash	-$17.57M	-$38.10M	$19.33M	-$39.95M

OCGN Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$1.48M	$1.37M	$1.75M	-$193.00K	$1.53M
Research & Development	$9.53M	$8.40M	$11.15M	$10.67M	$11.26M
Selling, General & Admin	$6.45M	$6.77M	$8.23M	$6.13M	$8.12M
Operating Expenses	$15.98M	$15.17M	$19.38M	$16.80M	$19.37M
Operating Income	-$14.50M	-$13.79M	-$17.63M	-$17.00M	-$17.84M
EBITDA	-$13.50M	-$12.55M	-$17.79M	-$16.37M	-$17.27M
Pretax Income	-$15.35M	-$14.74M	-$20.05M	-$17.71M	-$19.18M
Net Income	-$15.35M	-$14.74M	-$20.05M	-$17.71M	-$19.18M
Diluted EPS	-0.05	-0.05	-0.06	-0.06	-0.06
Diluted Shares	292.00M	292.07M	312.32M	312.34M	320.42M

OCGN Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$37.80M	$27.01M	$32.56M	$18.57M	$31.86M
Current Assets	$43.96M	$32.88M	$37.64M	$24.34M	$38.55M
Total Assets	$64.46M	$53.59M	$57.60M	$43.52M	$56.91M
Current Liabilities	$16.89M	$17.99M	$20.36M	$23.04M	$20.71M
Long-Term Debt	$27.67M	$28.02M	$28.40M	$27.54M	$24.19M
Total Debt	$31.82M	$32.82M	$32.96M	$33.14M	$33.30M
Total Liabilities	$48.55M	$50.54M	$54.06M	$55.68M	$51.10M
Retained Earnings	-$355.57M	-$370.31M	-$390.36M	-$408.07M	-$427.24M
Shareholders' Equity	$15.91M	$3.05M	$3.53M	-$12.17M	$5.80M
Working Capital	$27.08M	$14.89M	$17.28M	$1.30M	$17.84M
Net Debt	—	$1.01M	—	$10.22M	—

OCGN Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$19.36M	-$10.73M	-$12.92M	-$13.96M	-$21.79M
Capital Expenditure	-$16.00K	-$43.00K	-$91.00K	-$35.00K	-$6.00K
Free Cash Flow	-$19.37M	-$10.77M	-$13.01M	-$14.00M	-$21.80M
Depreciation & Amortisation	$595.00K	$1.24M	$950.00K	-$397.00K	$590.00K
Stock-Based Compensation	$1.89M	$1.84M	$1.98M	$2.00M	$3.40M
Investing Cash Flow	-$102.00K	-$88.00K	-$86.00K	-$35.00K	-$6.00K
Financing Cash Flow	-$1.25M	$61.00K	$18.51M	$2.00K	$34.98M
Net Change in Cash	-$20.70M	-$10.76M	$5.51M	-$13.99M	$13.18M

Market Snapshot

About

Ocugen, Inc. is a biotechnology company developing gene therapies and cell therapies to cure blindness and treat eye diseases including inherited retinal diseases.