Ocular Therapeutix, Inc. (OCUL) 10-Year Financial Performance & Capital Metrics

OCUL • • Industrial / General

HealthcareBiotechnologyAutoimmune & Inflammatory DiseasesOphthalmology & Ocular Diseases

AboutOcular Therapeutix, Inc., a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology. The company markets ReSure Sealant, an ophthalmic device to prevent wound leaks in corneal incisions following cataract surgery; and DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis. It is also developing OTX-TKI, an axitinib intravitreal implant that is in phase 1 clinical trials for the treatment of wet age-related macular degeneration and other retinal diseases; OTX-TIC, a travoprost intracameral implant, which is in phase 2 clinical trials for the treatment of open-angle glaucoma or ocular hypertension; OTX-CSI, a cyclosporine intracanalicular insert that has completed phase 2 clinical trials for the treatment of dry eye disease; and OTX-DED, a dexamethasone intracanalicular insert, which is in phase 2 clinical trials for the short-term treatment of the signs and symptoms of dry eye disease. The company has a strategic collaboration with Regeneron Pharmaceuticals, Inc. (Regeneron) for the development and commercialization of products using the Company's sustained-release hydrogel in combination with Regeneron's large molecule VEGF-targeting compounds for the treatment of retinal diseases; and AffaMed Therapeutics Limited for the development and commercialization of DEXTENZA and OTX-TIC, as well as a discovery collaboration with Mosaic Biosciences to identify new targets and therapeutic agents for the treatment of dry age-related macular degeneration (dMAD). Ocular Therapeutix, Inc. was incorporated in 2006 and is headquartered in Bedford, Massachusetts.Show more

Revenue $64M +9.0%
EBITDA -$168M -111.6%
Net Income -$194M -139.7%
EPS (Diluted) -1.22 -19.6%
Gross Margin 91.17% +0.2%
EBITDA Margin -263.63% -94.1%
Operating Margin -269.57% -91.2%
Net Margin -303.67% -119.8%
ROE -95.21% +25.4%
ROIC -
Debt/Equity 0.24 -73.7%
Interest Coverage -12.65 -74.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 72.0%

✗Weaknesses

✗Negative free cash flow
✗Shares diluted 84.9% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y55.48%

5Y72.05%

3Y13.55%

TTM-9.21%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-43.21%

EPS CAGR

10Y-

5Y-

3Y-

TTM-23.08%

ROCE

10Y Avg-68.65%

5Y Avg-47.16%

3Y Avg-52.15%

Latest-54.21%

Peer Comparison

Ophthalmology & Ocular Diseases

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
KPRXKiora Pharmaceuticals, Inc.	8.05M	2.19	2.52		22.47%	-38.12%	100%	0.00
KALAKALA BIO, Inc.	16.74M	0.60	-0.09		-141.11%	-388.29%		2.62
CLSDClearside Biomedical, Inc.	5.81M	1.11	-0.16	-79.77%	-7.81%
OTLKOutlook Therapeutics, Inc.	33.47M	0.52	-0.29		-25.93%
ADVMAdverum Biotechnologies, Inc.	96.26M	4.36	-0.66	-72.22%	-130.93%	-189.84%		1.30
IRDOpus Genetics, Inc.	143.45M	2.08	-0.97	-42.3%	-466.09%	-11.43%
SKYESkye Bioscience, Inc.	30.87M	0.96	-1.32			-156.01%		0.01
ALDXAldeyra Therapeutics, Inc.	265.32M	4.41	-4.69			-87.71%		0.22

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.75M	1.89M	1.92M	1.99M	4.23M	17.4M	43.52M	51.49M	58.44M	63.72M
Revenue Growth %	1.27%	0.08%	0.02%	0.03%	1.12%	3.12%	1.5%	0.18%	0.13%	0.09%
Cost of Goods Sold+	319K	443K	457K	465K	2.33M	2.08M	4.41M	4.54M	5.28M	5.63M
COGS % of Revenue	0.18%	0.23%	0.24%	0.23%	0.55%	0.12%	0.1%	0.09%	0.09%	0.09%
Gross Profit+	1.43M	1.44M	1.47M	1.52M	1.9M	15.32M	39.12M	46.95M	53.16M	58.1M
Gross Margin %	0.82%	0.77%	0.76%	0.77%	0.45%	0.88%	0.9%	0.91%	0.91%	0.91%
Gross Profit Growth %	1.1%	0.01%	0.02%	0.04%	0.25%	7.05%	1.55%	0.2%	0.13%	0.09%
Operating Expenses+	39.63M	44.77M	63.39M	60.64M	87.7M	78.17M	117.15M	125.61M	135.54M	229.88M
OpEx % of Revenue	22.64%	23.73%	32.96%	30.47%	20.75%	4.49%	2.69%	2.44%	2.32%	3.61%
Selling, General & Admin	13.02M	17.7M	32.51M	23.73M	46.61M	49.47M	67.07M	72.15M	74.49M	102.24M
SG&A % of Revenue	7.44%	9.38%	16.91%	11.92%	11.03%	2.84%	1.54%	1.4%	1.27%	1.6%
Research & Development	26.61M	27.07M	30.88M	36.91M	41.09M	28.69M	50.08M	53.46M	61.05M	127.64M
R&D % of Revenue	15.21%	14.34%	16.06%	18.55%	9.72%	1.65%	1.15%	1.04%	1.04%	2%
Other Operating Expenses	7K	-1K	5K	0	0	0	0	0	0	0
Operating Income+	-38.2M	-43.33M	-61.92M	-59.12M	-85.8M	-62.85M	-78.04M	-78.65M	-82.38M	-171.78M
Operating Margin %	-21.83%	-22.96%	-32.2%	-29.71%	-20.3%	-3.61%	-1.79%	-1.53%	-1.41%	-2.7%
Operating Income Growth %	-0.41%	-0.13%	-0.43%	0.05%	-0.45%	0.27%	-0.24%	-0.01%	-0.05%	-1.09%
EBITDA+	-37.44M	-42.45M	-60.3M	-56.83M	-83.27M	-60.07M	-75.62M	-76.55M	-79.4M	-168M
EBITDA Margin %	-21.4%	-22.49%	-31.36%	-28.56%	-19.7%	-3.45%	-1.74%	-1.49%	-1.36%	-2.64%
EBITDA Growth %	-0.41%	-0.13%	-0.42%	0.06%	-0.47%	0.28%	-0.26%	-0.01%	-0.04%	-1.12%
D&A (Non-Cash Add-back)	754K	881K	1.63M	2.29M	2.53M	2.77M	2.42M	2.11M	2.98M	3.79M
EBIT	-38.02M	-43.02M	-61.49M	-58.24M	-80.27M	-148.87M	118K	-64.02M	-69.4M	-179.93M
Net Interest Income+	-1.56M	-1.38M	-1.47M	-860K	-4.87M	-6.6M	-6.64M	-6.22M	-7.36M	6.71M
Interest Income	166K	304K	424K	879K	1.23M	168K	33K	798K	3.98M	20.28M
Interest Expense	1.72M	1.68M	1.89M	1.74M	6.1M	6.77M	6.67M	7.02M	11.34M	13.58M
Other Income/Expense	-1.55M	-1.38M	-1.46M	-860K	-570K	-92.79M	71.48M	7.62M	1.65M	-21.73M
Pretax Income+	-39.75M	-44.7M	-63.39M	-59.98M	-86.37M	-155.64M	-6.55M	-71.04M	-80.74M	-193.51M
Pretax Margin %	-22.71%	-23.69%	-32.96%	-30.14%	-20.43%	-8.94%	-0.15%	-1.38%	-1.38%	-3.04%
Income Tax+	0	0	272K	-2.29M	0	0	0	0	0	0
Effective Tax Rate %	1%	1%	1%	0.96%	1%	1%	1%	1%	1%	1%
Net Income+	-39.75M	-44.7M	-63.39M	-57.69M	-86.37M	-155.64M	-6.55M	-71.04M	-80.74M	-193.51M
Net Margin %	-22.71%	-23.69%	-32.96%	-28.99%	-20.43%	-8.94%	-0.15%	-1.38%	-1.38%	-3.04%
Net Income Growth %	-0.39%	-0.12%	-0.42%	0.09%	-0.5%	-0.8%	0.96%	-9.84%	-0.14%	-1.4%
Net Income (Continuing)	-39.75M	-44.7M	-63.39M	-59.98M	-86.37M	-155.64M	-6.55M	-71.04M	-80.74M	-193.51M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-1.71	-1.80	-2.20	-1.57	-1.91	-2.56	-0.98	-0.97	-1.02	-1.22
EPS Growth %	0.36%	-0.05%	-0.22%	0.29%	-0.22%	-0.34%	0.62%	0.01%	-0.05%	-0.2%
EPS (Basic)	-1.71	-1.80	-2.20	-1.57	-1.91	-2.56	-1.05	-1.04	-1.09	-1.22
Diluted Shares Outstanding	23.24M	24.82M	28.82M	38.12M	45.27M	60.75M	82.16M	82.64M	85.6M	158.26M
Basic Shares Outstanding	23.24M	24.82M	28.82M	38.12M	45.27M	60.75M	76.39M	76.88M	79.83M	158.26M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	106.98M	69.9M	43.34M	56.19M	60.17M	246.16M	191.3M	129.63M	232.24M	440.99M
Cash & Short-Term Investments	105.06M	68.14M	41.54M	54.06M	54.44M	228.06M	164.16M	102.3M	195.81M	392.1M
Cash Only	30.78M	32.94M	41.54M	54.06M	54.44M	228.06M	164.16M	102.3M	195.81M	392.1M
Short-Term Investments	74.28M	35.21M	0	0	0	0	0	0	0	0
Accounts Receivable	193K	250K	226K	201K	2.55M	12.25M	21.14M	21.32M	26.18M	32.39M
Days Sales Outstanding	40.25	48.36	42.9	36.87	220.02	256.97	177.25	151.16	163.5	185.52
Inventory	134K	113K	122K	217K	954K	1.2M	1.25M	1.97M	2.31M	3.04M
Days Inventory Outstanding	153.32	93.1	97.44	170.33	149.77	210.45	103.55	158.7	159.31	197.23
Other Current Assets	0	1.39M	108K	1.71M	0	0	0	4.03M	7.94M	13.46M
Total Non-Current Assets+	3.32M	5.04M	12.09M	16.85M	18.57M	15.7M	13.59M	19.66M	19.82M	16.95M
Property, Plant & Equipment	3.1M	3.31M	10.48M	10.24M	16.81M	13.94M	11.82M	17.9M	18.21M	15.33M
Fixed Asset Turnover	0.57x	0.57x	0.18x	0.19x	0.25x	1.25x	3.68x	2.88x	3.21x	4.16x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	1.73M	1.61M	6.61M	0	0	0	0	0	0
Other Non-Current Assets	228K	0	0	0	1.76M	1.76M	1.76M	1.76M	1.61M	1.61M
Total Assets+	110.31M	74.94M	55.43M	73.04M	78.74M	261.86M	204.89M	149.29M	252.06M	457.94M
Asset Turnover	0.02x	0.03x	0.03x	0.03x	0.05x	0.07x	0.21x	0.34x	0.23x	0.14x
Asset Growth %	0.41%	-0.32%	-0.26%	0.32%	0.08%	2.33%	-0.22%	-0.27%	0.69%	0.82%
Total Current Liabilities+	5.38M	8.3M	13.43M	9.16M	12.03M	26.66M	26.34M	31.39M	34.9M	41.35M
Accounts Payable	1.96M	2.12M	3.57M	2.96M	3.27M	2.71M	4.59M	5.12M	4.39M	4.18M
Days Payables Outstanding	2.24K	1.74K	2.85K	2.33K	513.04	474.69	380.41	411.87	303.35	270.93
Short-Term Debt	0	1.55M	5.54M	0	0	8.29M	0	0	0	0
Deferred Revenue (Current)	42K	0	0	0	0	0	0	576K	255K	128K
Other Current Liabilities	0	0	1.37M	2.64M	0	0	0	0	0	0
Current Ratio	19.89x	8.42x	3.23x	6.14x	5.00x	9.23x	7.26x	4.13x	6.66x	10.66x
Quick Ratio	19.87x	8.41x	3.22x	6.11x	4.92x	9.19x	7.22x	4.07x	6.59x	10.59x
Cash Conversion Cycle	-2.05K	-1.6K	-2.71K	-2.12K	-143.25	-7.28	-99.61	-102.01	19.46	111.82
Total Non-Current Liabilities+	15.34M	14.63M	15.86M	28.01M	70.34M	159.1M	90.55M	82.52M	126.03M	101.24M
Long-Term Debt	15.27M	14.09M	12.47M	24.79M	49.31M	41.24M	51.44M	54.01M	74.92M	68.5M
Capital Lease Obligations	0	0	0	0	8.9M	7.55M	5.92M	8.68M	6.88M	5.34M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	68K	537K	3.39M	3.22M	12.12M	98.31M	20.19M	6.44M	30.09M	13.39M
Total Liabilities	20.72M	22.93M	29.28M	37.17M	82.37M	185.77M	116.89M	113.91M	160.93M	142.59M
Total Debt+	15.27M	15.64M	18.02M	24.79M	59.34M	58.44M	58.98M	64.28M	83.39M	75.78M
Net Debt	-15.51M	-17.29M	-23.52M	-29.27M	4.91M	-169.62M	-105.18M	-38.02M	-112.42M	-316.32M
Debt / Equity	0.17x	0.30x	0.69x	0.69x	-	0.77x	0.67x	1.82x	0.92x	0.24x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-22.16x	-25.79x	-32.73x	-34.00x	-14.06x	-9.29x	-11.70x	-11.20x	-7.27x	-12.65x
Total Equity+	89.59M	52.01M	26.15M	35.88M	-3.63M	76.09M	88M	35.38M	91.13M	315.34M
Equity Growth %	0.53%	-0.42%	-0.5%	0.37%	-1.1%	21.96%	0.16%	-0.6%	1.58%	2.46%
Book Value per Share	3.85	2.10	0.91	0.94	-0.08	1.25	1.07	0.43	1.06	1.99
Total Shareholders' Equity	89.59M	52.01M	26.15M	35.88M	-3.63M	76.09M	88M	35.38M	91.13M	315.34M
Common Stock	2K	3K	3K	4K	5K	8K	8K	8K	12K	16K
Retained Earnings	-129.18M	-173.88M	-237.26M	-297.24M	-383.62M	-539.25M	-545.8M	-616.84M	-697.58M	-891.08M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-68K	-5K	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-33.74M	-34M	-50.47M	-49.23M	-77.58M	-53.55M	-65.55M	-59.6M	-70.23M	-134.68M
Operating CF Margin %	-19.28%	-18.02%	-26.25%	-24.74%	-18.35%	-3.08%	-1.51%	-1.16%	-1.2%	-2.11%
Operating CF Growth %	-0.65%	-0.01%	-0.48%	0.02%	-0.58%	0.31%	-0.22%	0.09%	-0.18%	-0.92%
Net Income	-39.75M	-44.7M	-63.39M	-59.98M	-86.37M	-155.64M	-6.55M	-71.04M	-80.74M	-193.51M
Depreciation & Amortization	754K	881K	1.63M	2.29M	2.53M	2.77M	2.42M	2.11M	2.98M	3.79M
Stock-Based Compensation	4.64M	5.96M	7.32M	7.48M	8.76M	7.53M	14.98M	16.96M	17.82M	33.11M
Deferred Taxes	-58K	1.42M	9K	0	-4.3M	86.19M	0	0	0	0
Other Non-Cash Items	166K	371K	408K	397K	3.68M	4.41M	-73.49M	-8.99M	-2.9M	32.16M
Working Capital Changes	503K	2.08M	3.55M	585K	-1.88M	1.18M	-2.9M	1.35M	-7.41M	-10.23M
Change in Receivables	136K	-57K	24K	25K	-2.35M	-9.7M	-8.88M	-190K	-4.85M	-6.21M
Change in Inventory	-1K	21K	-9K	-95K	-737K	-247K	-49K	-724K	-331K	-735K
Change in Payables	348K	-159K	932K	-796K	124K	-452K	1.8M	-621K	583K	-318K
Cash from Investing+	-38.57M	35.57M	27.07M	-1.89M	-2.24M	-841K	-1.19M	-3.71M	-6.09M	-1.29M
Capital Expenditures	-1.78M	-1.92M	-8.25M	-1.89M	-2.24M	-841K	-1.19M	-3.71M	-6.09M	-1.29M
CapEx % of Revenue	1.02%	1.02%	4.29%	0.95%	0.53%	0.05%	0.03%	0.07%	0.1%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	60K	-1.5M	114K	0	0	0	0	0	0	0
Cash from Financing+	65.7M	585K	32.01M	68.64M	75.34M	228.01M	2.85M	1.45M	169.83M	332.11M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-306K	-42K	370K	694K	529K	3.33M	2.31M	514K	-4.63M	-300.6M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-35.52M	-35.92M	-58.73M	-51.12M	-79.82M	-54.4M	-66.74M	-63.32M	-76.32M	-135.97M
FCF Margin %	-20.3%	-19.04%	-30.54%	-25.69%	-18.88%	-3.13%	-1.53%	-1.23%	-1.31%	-2.13%
FCF Growth %	-0.63%	-0.01%	-0.63%	0.13%	-0.56%	0.32%	-0.23%	0.05%	-0.21%	-0.78%
FCF per Share	-1.53	-1.45	-2.04	-1.34	-1.76	-0.90	-0.81	-0.77	-0.89	-0.86
FCF Conversion (FCF/Net Income)	0.85x	0.76x	0.80x	0.85x	0.90x	0.34x	10.00x	0.84x	0.87x	0.70x
Interest Paid	0	0	0	0	0	0	1.93M	2.15M	5.46M	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-53.61%	-63.14%	-162.21%	-186.04%	-535.72%	-429.55%	-7.99%	-115.16%	-127.64%	-95.21%
Return on Invested Capital (ROIC)	-51.97%	-59.74%	-248.75%	-961.16%	-1633.91%	-	-	-	-	-
Gross Margin	81.77%	76.52%	76.23%	76.63%	45%	88.03%	89.88%	91.18%	90.96%	91.17%
Net Margin	-2271.31%	-2369%	-3296.2%	-2899.1%	-2043.34%	-894.31%	-15.06%	-137.95%	-138.14%	-303.67%
Debt / Equity	0.17x	0.30x	0.69x	0.69x	-	0.77x	0.67x	1.82x	0.92x	0.24x
Interest Coverage	-22.16x	-25.79x	-32.73x	-34.00x	-14.06x	-9.29x	-11.70x	-11.20x	-7.27x	-12.65x
FCF Conversion	0.85x	0.76x	0.80x	0.85x	0.90x	0.34x	10.00x	0.84x	0.87x	0.70x
Revenue Growth	126.68%	7.83%	1.91%	3.48%	112.41%	311.71%	150.08%	18.32%	13.49%	9.03%

Revenue by Segment

	2018	2022	2023	2024
Product revenue, net	-	-	57.87M	63.46M
Product revenue, net Growth	-	-	-	9.66%
Collaboration revenue	-	1.04M	573K	262K
Collaboration revenue Growth	-	-	-44.74%	-54.28%
Product	1.99M	50.46M	-	-
Product Growth	-	2435.53%	-	-

Frequently Asked Questions

Growth & Financials

Ocular Therapeutix, Inc. (OCUL) reported $55.8M in revenue for fiscal year 2024. This represents a 557730% increase from $0.0M in 2012.

Ocular Therapeutix, Inc. (OCUL) grew revenue by 9.0% over the past year. This is steady growth.

Ocular Therapeutix, Inc. (OCUL) reported a net loss of $249.7M for fiscal year 2024.

Dividend & Returns

Ocular Therapeutix, Inc. (OCUL) has a return on equity (ROE) of -95.2%. Negative ROE indicates the company is unprofitable.

Ocular Therapeutix, Inc. (OCUL) had negative free cash flow of $199.4M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

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Ocular Therapeutix, Inc. (OCUL) 10-Year Financial Performance & Capital Metrics

OCUL • • Industrial / General

HealthcareBiotechnologyAutoimmune & Inflammatory DiseasesOphthalmology & Ocular Diseases

Revenue $64M +9.0%
EBITDA -$168M -111.6%
Net Income -$194M -139.7%
EPS (Diluted) -1.22 -19.6%
Gross Margin 91.17% +0.2%
EBITDA Margin -263.63% -94.1%
Operating Margin -269.57% -91.2%
Net Margin -303.67% -119.8%
ROE -95.21% +25.4%
ROIC -
Debt/Equity 0.24 -73.7%
Interest Coverage -12.65 -74.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 72.0%

✗Weaknesses

✗Negative free cash flow
✗Shares diluted 84.9% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y55.48%

5Y72.05%

3Y13.55%

TTM-9.21%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-43.21%

EPS CAGR

10Y-

5Y-

3Y-

TTM-23.08%

ROCE

10Y Avg-68.65%

5Y Avg-47.16%

3Y Avg-52.15%

Latest-54.21%

Peer Comparison

Ophthalmology & Ocular Diseases

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
KPRXKiora Pharmaceuticals, Inc.	8.05M	2.19	2.52		22.47%	-38.12%	100%	0.00
KALAKALA BIO, Inc.	16.74M	0.60	-0.09		-141.11%	-388.29%		2.62
CLSDClearside Biomedical, Inc.	5.81M	1.11	-0.16	-79.77%	-7.81%
OTLKOutlook Therapeutics, Inc.	33.47M	0.52	-0.29		-25.93%
ADVMAdverum Biotechnologies, Inc.	96.26M	4.36	-0.66	-72.22%	-130.93%	-189.84%		1.30
IRDOpus Genetics, Inc.	143.45M	2.08	-0.97	-42.3%	-466.09%	-11.43%
SKYESkye Bioscience, Inc.	30.87M	0.96	-1.32			-156.01%		0.01
ALDXAldeyra Therapeutics, Inc.	265.32M	4.41	-4.69			-87.71%		0.22

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.75M	1.89M	1.92M	1.99M	4.23M	17.4M	43.52M	51.49M	58.44M	63.72M
Revenue Growth %	1.27%	0.08%	0.02%	0.03%	1.12%	3.12%	1.5%	0.18%	0.13%	0.09%
Cost of Goods Sold+	319K	443K	457K	465K	2.33M	2.08M	4.41M	4.54M	5.28M	5.63M
COGS % of Revenue	0.18%	0.23%	0.24%	0.23%	0.55%	0.12%	0.1%	0.09%	0.09%	0.09%
Gross Profit+	1.43M	1.44M	1.47M	1.52M	1.9M	15.32M	39.12M	46.95M	53.16M	58.1M
Gross Margin %	0.82%	0.77%	0.76%	0.77%	0.45%	0.88%	0.9%	0.91%	0.91%	0.91%
Gross Profit Growth %	1.1%	0.01%	0.02%	0.04%	0.25%	7.05%	1.55%	0.2%	0.13%	0.09%
Operating Expenses+	39.63M	44.77M	63.39M	60.64M	87.7M	78.17M	117.15M	125.61M	135.54M	229.88M
OpEx % of Revenue	22.64%	23.73%	32.96%	30.47%	20.75%	4.49%	2.69%	2.44%	2.32%	3.61%
Selling, General & Admin	13.02M	17.7M	32.51M	23.73M	46.61M	49.47M	67.07M	72.15M	74.49M	102.24M
SG&A % of Revenue	7.44%	9.38%	16.91%	11.92%	11.03%	2.84%	1.54%	1.4%	1.27%	1.6%
Research & Development	26.61M	27.07M	30.88M	36.91M	41.09M	28.69M	50.08M	53.46M	61.05M	127.64M
R&D % of Revenue	15.21%	14.34%	16.06%	18.55%	9.72%	1.65%	1.15%	1.04%	1.04%	2%
Other Operating Expenses	7K	-1K	5K	0	0	0	0	0	0	0
Operating Income+	-38.2M	-43.33M	-61.92M	-59.12M	-85.8M	-62.85M	-78.04M	-78.65M	-82.38M	-171.78M
Operating Margin %	-21.83%	-22.96%	-32.2%	-29.71%	-20.3%	-3.61%	-1.79%	-1.53%	-1.41%	-2.7%
Operating Income Growth %	-0.41%	-0.13%	-0.43%	0.05%	-0.45%	0.27%	-0.24%	-0.01%	-0.05%	-1.09%
EBITDA+	-37.44M	-42.45M	-60.3M	-56.83M	-83.27M	-60.07M	-75.62M	-76.55M	-79.4M	-168M
EBITDA Margin %	-21.4%	-22.49%	-31.36%	-28.56%	-19.7%	-3.45%	-1.74%	-1.49%	-1.36%	-2.64%
EBITDA Growth %	-0.41%	-0.13%	-0.42%	0.06%	-0.47%	0.28%	-0.26%	-0.01%	-0.04%	-1.12%
D&A (Non-Cash Add-back)	754K	881K	1.63M	2.29M	2.53M	2.77M	2.42M	2.11M	2.98M	3.79M
EBIT	-38.02M	-43.02M	-61.49M	-58.24M	-80.27M	-148.87M	118K	-64.02M	-69.4M	-179.93M
Net Interest Income+	-1.56M	-1.38M	-1.47M	-860K	-4.87M	-6.6M	-6.64M	-6.22M	-7.36M	6.71M
Interest Income	166K	304K	424K	879K	1.23M	168K	33K	798K	3.98M	20.28M
Interest Expense	1.72M	1.68M	1.89M	1.74M	6.1M	6.77M	6.67M	7.02M	11.34M	13.58M
Other Income/Expense	-1.55M	-1.38M	-1.46M	-860K	-570K	-92.79M	71.48M	7.62M	1.65M	-21.73M
Pretax Income+	-39.75M	-44.7M	-63.39M	-59.98M	-86.37M	-155.64M	-6.55M	-71.04M	-80.74M	-193.51M
Pretax Margin %	-22.71%	-23.69%	-32.96%	-30.14%	-20.43%	-8.94%	-0.15%	-1.38%	-1.38%	-3.04%
Income Tax+	0	0	272K	-2.29M	0	0	0	0	0	0
Effective Tax Rate %	1%	1%	1%	0.96%	1%	1%	1%	1%	1%	1%
Net Income+	-39.75M	-44.7M	-63.39M	-57.69M	-86.37M	-155.64M	-6.55M	-71.04M	-80.74M	-193.51M
Net Margin %	-22.71%	-23.69%	-32.96%	-28.99%	-20.43%	-8.94%	-0.15%	-1.38%	-1.38%	-3.04%
Net Income Growth %	-0.39%	-0.12%	-0.42%	0.09%	-0.5%	-0.8%	0.96%	-9.84%	-0.14%	-1.4%
Net Income (Continuing)	-39.75M	-44.7M	-63.39M	-59.98M	-86.37M	-155.64M	-6.55M	-71.04M	-80.74M	-193.51M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-1.71	-1.80	-2.20	-1.57	-1.91	-2.56	-0.98	-0.97	-1.02	-1.22
EPS Growth %	0.36%	-0.05%	-0.22%	0.29%	-0.22%	-0.34%	0.62%	0.01%	-0.05%	-0.2%
EPS (Basic)	-1.71	-1.80	-2.20	-1.57	-1.91	-2.56	-1.05	-1.04	-1.09	-1.22
Diluted Shares Outstanding	23.24M	24.82M	28.82M	38.12M	45.27M	60.75M	82.16M	82.64M	85.6M	158.26M
Basic Shares Outstanding	23.24M	24.82M	28.82M	38.12M	45.27M	60.75M	76.39M	76.88M	79.83M	158.26M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	106.98M	69.9M	43.34M	56.19M	60.17M	246.16M	191.3M	129.63M	232.24M	440.99M
Cash & Short-Term Investments	105.06M	68.14M	41.54M	54.06M	54.44M	228.06M	164.16M	102.3M	195.81M	392.1M
Cash Only	30.78M	32.94M	41.54M	54.06M	54.44M	228.06M	164.16M	102.3M	195.81M	392.1M
Short-Term Investments	74.28M	35.21M	0	0	0	0	0	0	0	0
Accounts Receivable	193K	250K	226K	201K	2.55M	12.25M	21.14M	21.32M	26.18M	32.39M
Days Sales Outstanding	40.25	48.36	42.9	36.87	220.02	256.97	177.25	151.16	163.5	185.52
Inventory	134K	113K	122K	217K	954K	1.2M	1.25M	1.97M	2.31M	3.04M
Days Inventory Outstanding	153.32	93.1	97.44	170.33	149.77	210.45	103.55	158.7	159.31	197.23
Other Current Assets	0	1.39M	108K	1.71M	0	0	0	4.03M	7.94M	13.46M
Total Non-Current Assets+	3.32M	5.04M	12.09M	16.85M	18.57M	15.7M	13.59M	19.66M	19.82M	16.95M
Property, Plant & Equipment	3.1M	3.31M	10.48M	10.24M	16.81M	13.94M	11.82M	17.9M	18.21M	15.33M
Fixed Asset Turnover	0.57x	0.57x	0.18x	0.19x	0.25x	1.25x	3.68x	2.88x	3.21x	4.16x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	1.73M	1.61M	6.61M	0	0	0	0	0	0
Other Non-Current Assets	228K	0	0	0	1.76M	1.76M	1.76M	1.76M	1.61M	1.61M
Total Assets+	110.31M	74.94M	55.43M	73.04M	78.74M	261.86M	204.89M	149.29M	252.06M	457.94M
Asset Turnover	0.02x	0.03x	0.03x	0.03x	0.05x	0.07x	0.21x	0.34x	0.23x	0.14x
Asset Growth %	0.41%	-0.32%	-0.26%	0.32%	0.08%	2.33%	-0.22%	-0.27%	0.69%	0.82%
Total Current Liabilities+	5.38M	8.3M	13.43M	9.16M	12.03M	26.66M	26.34M	31.39M	34.9M	41.35M
Accounts Payable	1.96M	2.12M	3.57M	2.96M	3.27M	2.71M	4.59M	5.12M	4.39M	4.18M
Days Payables Outstanding	2.24K	1.74K	2.85K	2.33K	513.04	474.69	380.41	411.87	303.35	270.93
Short-Term Debt	0	1.55M	5.54M	0	0	8.29M	0	0	0	0
Deferred Revenue (Current)	42K	0	0	0	0	0	0	576K	255K	128K
Other Current Liabilities	0	0	1.37M	2.64M	0	0	0	0	0	0
Current Ratio	19.89x	8.42x	3.23x	6.14x	5.00x	9.23x	7.26x	4.13x	6.66x	10.66x
Quick Ratio	19.87x	8.41x	3.22x	6.11x	4.92x	9.19x	7.22x	4.07x	6.59x	10.59x
Cash Conversion Cycle	-2.05K	-1.6K	-2.71K	-2.12K	-143.25	-7.28	-99.61	-102.01	19.46	111.82
Total Non-Current Liabilities+	15.34M	14.63M	15.86M	28.01M	70.34M	159.1M	90.55M	82.52M	126.03M	101.24M
Long-Term Debt	15.27M	14.09M	12.47M	24.79M	49.31M	41.24M	51.44M	54.01M	74.92M	68.5M
Capital Lease Obligations	0	0	0	0	8.9M	7.55M	5.92M	8.68M	6.88M	5.34M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	68K	537K	3.39M	3.22M	12.12M	98.31M	20.19M	6.44M	30.09M	13.39M
Total Liabilities	20.72M	22.93M	29.28M	37.17M	82.37M	185.77M	116.89M	113.91M	160.93M	142.59M
Total Debt+	15.27M	15.64M	18.02M	24.79M	59.34M	58.44M	58.98M	64.28M	83.39M	75.78M
Net Debt	-15.51M	-17.29M	-23.52M	-29.27M	4.91M	-169.62M	-105.18M	-38.02M	-112.42M	-316.32M
Debt / Equity	0.17x	0.30x	0.69x	0.69x	-	0.77x	0.67x	1.82x	0.92x	0.24x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-22.16x	-25.79x	-32.73x	-34.00x	-14.06x	-9.29x	-11.70x	-11.20x	-7.27x	-12.65x
Total Equity+	89.59M	52.01M	26.15M	35.88M	-3.63M	76.09M	88M	35.38M	91.13M	315.34M
Equity Growth %	0.53%	-0.42%	-0.5%	0.37%	-1.1%	21.96%	0.16%	-0.6%	1.58%	2.46%
Book Value per Share	3.85	2.10	0.91	0.94	-0.08	1.25	1.07	0.43	1.06	1.99
Total Shareholders' Equity	89.59M	52.01M	26.15M	35.88M	-3.63M	76.09M	88M	35.38M	91.13M	315.34M
Common Stock	2K	3K	3K	4K	5K	8K	8K	8K	12K	16K
Retained Earnings	-129.18M	-173.88M	-237.26M	-297.24M	-383.62M	-539.25M	-545.8M	-616.84M	-697.58M	-891.08M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-68K	-5K	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-33.74M	-34M	-50.47M	-49.23M	-77.58M	-53.55M	-65.55M	-59.6M	-70.23M	-134.68M
Operating CF Margin %	-19.28%	-18.02%	-26.25%	-24.74%	-18.35%	-3.08%	-1.51%	-1.16%	-1.2%	-2.11%
Operating CF Growth %	-0.65%	-0.01%	-0.48%	0.02%	-0.58%	0.31%	-0.22%	0.09%	-0.18%	-0.92%
Net Income	-39.75M	-44.7M	-63.39M	-59.98M	-86.37M	-155.64M	-6.55M	-71.04M	-80.74M	-193.51M
Depreciation & Amortization	754K	881K	1.63M	2.29M	2.53M	2.77M	2.42M	2.11M	2.98M	3.79M
Stock-Based Compensation	4.64M	5.96M	7.32M	7.48M	8.76M	7.53M	14.98M	16.96M	17.82M	33.11M
Deferred Taxes	-58K	1.42M	9K	0	-4.3M	86.19M	0	0	0	0
Other Non-Cash Items	166K	371K	408K	397K	3.68M	4.41M	-73.49M	-8.99M	-2.9M	32.16M
Working Capital Changes	503K	2.08M	3.55M	585K	-1.88M	1.18M	-2.9M	1.35M	-7.41M	-10.23M
Change in Receivables	136K	-57K	24K	25K	-2.35M	-9.7M	-8.88M	-190K	-4.85M	-6.21M
Change in Inventory	-1K	21K	-9K	-95K	-737K	-247K	-49K	-724K	-331K	-735K
Change in Payables	348K	-159K	932K	-796K	124K	-452K	1.8M	-621K	583K	-318K
Cash from Investing+	-38.57M	35.57M	27.07M	-1.89M	-2.24M	-841K	-1.19M	-3.71M	-6.09M	-1.29M
Capital Expenditures	-1.78M	-1.92M	-8.25M	-1.89M	-2.24M	-841K	-1.19M	-3.71M	-6.09M	-1.29M
CapEx % of Revenue	1.02%	1.02%	4.29%	0.95%	0.53%	0.05%	0.03%	0.07%	0.1%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	60K	-1.5M	114K	0	0	0	0	0	0	0
Cash from Financing+	65.7M	585K	32.01M	68.64M	75.34M	228.01M	2.85M	1.45M	169.83M	332.11M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-306K	-42K	370K	694K	529K	3.33M	2.31M	514K	-4.63M	-300.6M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-35.52M	-35.92M	-58.73M	-51.12M	-79.82M	-54.4M	-66.74M	-63.32M	-76.32M	-135.97M
FCF Margin %	-20.3%	-19.04%	-30.54%	-25.69%	-18.88%	-3.13%	-1.53%	-1.23%	-1.31%	-2.13%
FCF Growth %	-0.63%	-0.01%	-0.63%	0.13%	-0.56%	0.32%	-0.23%	0.05%	-0.21%	-0.78%
FCF per Share	-1.53	-1.45	-2.04	-1.34	-1.76	-0.90	-0.81	-0.77	-0.89	-0.86
FCF Conversion (FCF/Net Income)	0.85x	0.76x	0.80x	0.85x	0.90x	0.34x	10.00x	0.84x	0.87x	0.70x
Interest Paid	0	0	0	0	0	0	1.93M	2.15M	5.46M	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-53.61%	-63.14%	-162.21%	-186.04%	-535.72%	-429.55%	-7.99%	-115.16%	-127.64%	-95.21%
Return on Invested Capital (ROIC)	-51.97%	-59.74%	-248.75%	-961.16%	-1633.91%	-	-	-	-	-
Gross Margin	81.77%	76.52%	76.23%	76.63%	45%	88.03%	89.88%	91.18%	90.96%	91.17%
Net Margin	-2271.31%	-2369%	-3296.2%	-2899.1%	-2043.34%	-894.31%	-15.06%	-137.95%	-138.14%	-303.67%
Debt / Equity	0.17x	0.30x	0.69x	0.69x	-	0.77x	0.67x	1.82x	0.92x	0.24x
Interest Coverage	-22.16x	-25.79x	-32.73x	-34.00x	-14.06x	-9.29x	-11.70x	-11.20x	-7.27x	-12.65x
FCF Conversion	0.85x	0.76x	0.80x	0.85x	0.90x	0.34x	10.00x	0.84x	0.87x	0.70x
Revenue Growth	126.68%	7.83%	1.91%	3.48%	112.41%	311.71%	150.08%	18.32%	13.49%	9.03%

Revenue by Segment

	2018	2022	2023	2024
Product revenue, net	-	-	57.87M	63.46M
Product revenue, net Growth	-	-	-	9.66%
Collaboration revenue	-	1.04M	573K	262K
Collaboration revenue Growth	-	-	-44.74%	-54.28%
Product	1.99M	50.46M	-	-
Product Growth	-	2435.53%	-	-

Frequently Asked Questions

Growth & Financials

Ocular Therapeutix, Inc. (OCUL) reported $55.8M in revenue for fiscal year 2024. This represents a 557730% increase from $0.0M in 2012.

Ocular Therapeutix, Inc. (OCUL) grew revenue by 9.0% over the past year. This is steady growth.

Ocular Therapeutix, Inc. (OCUL) reported a net loss of $249.7M for fiscal year 2024.

Dividend & Returns

Ocular Therapeutix, Inc. (OCUL) has a return on equity (ROE) of -95.2%. Negative ROE indicates the company is unprofitable.

Ocular Therapeutix, Inc. (OCUL) had negative free cash flow of $199.4M in fiscal year 2024, likely due to heavy capital investments.