Revenue has contracted by 97.2% year-over-year to $696.0K in 2026Q1, driving an operating margin of -125.3% as R&D costs continue to escalate.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 | Jun'10 | Jun'09 | Jun'08 | Jun'07 | Jun'06 | Jun'05 | Jun'04 | Jun'03 |
|---|
| Sales/Revenue | 7.62M | 31.37M | 43.27M | 46.02M | 41.4M | 36.94M | 34.44M | 20.36M | 2.96M | 7.54M | 1.62M | 26.57M | 3.47M | 2.14M | 3.53M | 4.96M | 23.05M | 12.16M | 3.48M | 2.23M | 1.47M | 629.52K | 265.23K | 74.35K |
| Revenue Growth % | -86.41% | -27.5% | -5.97% | 11.14% | 12.09% | 7.27% | 69.1% | 587.77% | -60.72% | 365.37% | -93.9% | 664.9% | 62.06% | -39.22% | -28.98% | -78.46% | 89.55% | 249.88% | 55.53% | 52.52% | 132.78% | 137.35% | 256.73% | - |
| Cost of Goods Sold | 1.79M | 2.07M | 3.71M | 4.63M | 8.33M | 8.18M | 5.82M | 2.69M | 18.5M | 0 | 815K | 14.38M | 78K | 9.57M | 7M | 7.04M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | 6.59% | 8.58% | 10.07% | 20.11% | 22.14% | 16.91% | 13.19% | 624.86% | - | 50.31% | 54.14% | 2.25% | 446.71% | 198.67% | 141.77% | - | - | - | - | - | - | - | - |
| Gross Profit | 5.83M | 29.3M | 39.56M | 41.39M | 33.08M | 28.76M | 28.61M | 17.68M | -15.54M | 7.54M | 805K | 12.18M | 3.4M | -7.43M | -3.48M | -2.07M | 23.05M | 12.16M | 3.48M | 2.23M | 1.47M | 629.52K | 265.23K | 74.35K |
| Gross Margin % | 76.51% | 93.41% | 91.42% | 89.93% | 79.89% | 77.86% | 83.09% | 86.81% | -524.86% | 100% | 49.69% | 45.86% | 97.75% | -346.71% | -98.67% | -41.77% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| Gross Profit Growth % | - | -25.92% | -4.41% | 25.12% | 15.01% | 0.52% | 61.86% | 213.75% | -306.14% | 836.52% | -93.39% | 258.88% | 145.69% | -113.57% | -67.74% | -109% | 89.55% | 249.88% | 55.53% | 52.52% | 132.78% | 137.35% | 256.73% | - |
| Operating Expenses | 287.65M | 272.74M | 185.41M | 116.45M | 132.72M | 84.04M | 65.9M | 65.54M | 29.23M | 26.11M | 23.39M | 20.14M | 17.04M | 14.17M | 13.91M | 14.97M | 13.96M | 16.8M | 28.38M | 37.78M | 29.14M | 10.88M | 6.5M | 3.67M |
| OpEx % of Revenue | - | 869.4% | 428.48% | 253.06% | 320.54% | 227.5% | 191.37% | 321.82% | 987.34% | 346.4% | 1444.07% | 75.83% | 490.67% | 661.41% | 394.41% | 301.47% | 60.56% | 138.12% | 816.37% | 1690.25% | 1988.63% | 1728.79% | 2451.37% | 4938.64% |
| Selling, General & Admin | 53.03M | 51.7M | 52.49M | 51.79M | 60.32M | 53.08M | 46.02M | 47.71M | 13.06M | 11.23M | 9.01M | 8.06M | 7.47M | 7.17M | 6.87M | 8.1M | 6.97M | 8.79M | 13.95M | 12.98M | 15.88M | 3.81M | 1.6M | 565.51K |
| SG&A % of Revenue | - | 164.8% | 121.3% | 112.55% | 145.7% | 143.69% | 133.63% | 234.28% | 440.97% | 149.03% | 556.36% | 30.33% | 215.03% | 334.53% | 194.78% | 163.22% | 30.23% | 72.28% | 401.35% | 580.85% | 1083.94% | 604.83% | 604% | 760.6% |
| Research & Development | 234.61M | 221.04M | 132.93M | 64.66M | 49.64M | 28.5M | 17.42M | 15.37M | 16.18M | 14.88M | 14.38M | 12.09M | 9.57M | 7M | 7.04M | 6.86M | 6.99M | 8.01M | 14.43M | 20.03M | 11.7M | 6.29M | 4.87M | 3.08M |
| R&D % of Revenue | - | 704.6% | 307.18% | 140.51% | 119.9% | 77.15% | 50.6% | 75.46% | 546.37% | 197.37% | 887.72% | 45.5% | 275.64% | 326.88% | 199.63% | 138.25% | 30.34% | 65.84% | 415.02% | 896.2% | 798.55% | 999.78% | 1837.06% | 4143.85% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 22.75M | 2.46M | 2.46M | 2.46M | 14.84M | 0 | 13.98M | 3K | 0 | 6.22M | 19.79M | 3.25M | 0 | 0 | 0 | 4.76M | 1.56M | 781.71K | 27.35K | 25.42K |
| Operating Income | -281.82M | -243.43M | -145.85M | -75.07M | -99.64M | -55.28M | -37.29M | -47.86M | -26.27M | -18.58M | -21.77M | 6.42M | -13.49M | -12.03M | -25.21M | -10M | 9.09M | -4.64M | -24.9M | -35.54M | -27.68M | -10.25M | -6.24M | -3.6M |
| Operating Margin % | -3700.89% | -775.98% | -337.06% | -163.13% | -240.65% | -149.64% | -108.28% | -235.02% | -887.34% | -246.4% | -1344.07% | 24.17% | -388.43% | -561.41% | -715% | -201.47% | 39.44% | -38.12% | -716.37% | -1590.25% | -1888.63% | -1628.79% | -2351.37% | -4838.64% |
| Operating Income Growth % | - | -66.9% | -94.3% | 24.66% | -80.25% | -48.23% | 22.09% | -82.16% | -41.44% | 14.69% | -439.11% | 147.6% | -12.13% | 52.28% | -152.03% | -210.03% | 296.1% | 81.38% | 29.94% | -28.42% | -169.92% | -64.41% | -73.35% | - |
| EBITDA | -280.71M | -243.43M | -144.31M | -74.6M | -97.19M | -52.51M | -34.64M | -45.26M | -23.62M | -17.76M | -20.96M | 7.3M | -12.57M | -11.04M | -22.98M | -6.65M | 12.42M | -1.2M | -24.5M | -26.82M | -18.98M | -9.01M | -6M | -3.39M |
| EBITDA Margin % | -3686.26% | -775.98% | -333.5% | -162.12% | -234.74% | -142.14% | -100.59% | -222.23% | -797.77% | -235.59% | -1293.77% | 27.49% | -362.02% | -515.03% | -651.84% | -133.9% | 53.86% | -9.85% | -704.95% | -1200.18% | -1294.99% | -1431.52% | -2260.53% | -4553.38% |
| EBITDA Growth % | -75.84% | -68.68% | -93.44% | 23.24% | -85.11% | -51.57% | 23.46% | -91.59% | -33% | 15.26% | -386.99% | 158.08% | -13.92% | 51.98% | -245.73% | -153.54% | 1136.48% | 95.11% | 8.65% | -41.35% | -110.58% | -50.31% | -77.1% | - |
| D&A (Non-Cash Add-back) | 1.11M | 0 | 1.54M | 464K | 2.45M | 2.77M | 2.65M | 2.6M | 2.65M | 815K | 815K | 882K | 917K | 994K | 2.23M | 3.35M | 3.33M | 3.44M | 397K | 8.72M | 8.7M | 1.24M | 240.94K | 212.09K |
| EBIT | -279.53M | -243.43M | -130.77M | -69.47M | -99.06M | -52.92M | -38.14M | -50.62M | -39.02M | -52.45M | -18.48M | -21.7M | 6.42M | -13.48M | -12.03M | -25M | -8.83M | 9.09M | -3.46M | -75.65M | -35.54M | -27.68M | -14.55M | -6.24M |
| Net Interest Income | 10.45M | 11.75M | 15.07M | 5.7M | -1.06M | -5.21M | -7.2M | -5.12M | -619K | -619K | 91K | 72K | 22K | 5K | 16K | 37K | 17K | 27K | 162K | 141K | -1.64M | -3.37M | 0 | -3.92K |
| Interest Income | 10.45M | 11.75M | 15.09M | 6.95M | 2.13M | 292K | 58K | 1.05M | 101K | 91K | 91K | 72K | 6K | 16K | 38K | 38K | 27K | 162K | 648K | 300K | 300K | 0 | 0 | 0 |
| Interest Expense | 0 | -33K | 14K | 1.25M | 3.19M | 5.5M | 7.26M | 6.18M | 720K | 720K | 0 | 0 | 1K | 2K | 0 | 1K | 13K | 0 | 507K | 1.94M | 3.37M | 3.37M | 3.92K | 3.92K |
| Other Income/Expense | 10.45M | 11.75M | 15.07M | 4.36M | -2.62M | -3.14M | -8.1M | -8.93M | -63.17M | -26.9M | 91K | 72K | 22K | 5K | 14K | 207K | 1.16M | -315K | 1.17M | 8.85M | -61.21M | -17.73M | 9.32M | -807 |
| Pretax Income | -271.37M | -231.68M | -130.78M | -70.71M | -102.25M | -58.42M | -45.39M | -56.79M | -53.17M | -18.48M | -21.7M | 6.44M | -13.48M | -12.02M | -25M | -8.85M | 8.78M | -3.46M | -76.15M | -127.2M | -27.98M | -11.49M | -5.22M | -3.6M |
| Pretax Margin % | -3563.62% | -738.53% | -302.22% | -153.66% | -246.97% | -158.14% | -131.82% | -278.88% | -1795.71% | -245.19% | -1339.63% | 24.25% | -388.28% | -560.76% | -709.13% | -178.17% | 38.07% | -28.47% | -2190.82% | -5691.41% | -1909.47% | -1824.63% | -1969.97% | -4839.72% |
| Income Tax | -43K | 279K | 90K | 83K | 0 | 0 | 0 | 0 | -25.56M | -815K | -155K | 96K | -130K | -117K | -169K | -218K | 23K | -951K | -483K | -23.53M | -7.07M | -303.15K | -2.67M | -1.74M |
| Effective Tax Rate % | 0.02% | -0.12% | -0.07% | -0.12% | 0% | 0% | 0% | 0% | 48.07% | 4.41% | 0.71% | 1.49% | 0.96% | 0.97% | 0.68% | 2.46% | 0.26% | 27.47% | 0.63% | 18.5% | 25.26% | 2.64% | 51.01% | 48.38% |
| Net Income | -271.6M | -231.96M | -130.87M | -70.8M | -102.25M | -58.42M | -45.39M | -56.79M | -53.17M | -18.48M | -21.55M | 6.35M | -13.36M | -11.9M | -24.84M | -8.63M | 8.75M | -2.51M | -75.67M | -103.67M | -20.91M | -11.18M | -2.56M | -1.86M |
| Net Margin % | -3566.63% | -739.42% | -302.43% | -153.84% | -246.97% | -158.14% | -131.82% | -278.88% | -1795.71% | -245.19% | -1330.06% | 23.89% | -384.54% | -555.3% | -704.34% | -173.78% | 37.97% | -20.65% | -2176.93% | -4638.7% | -1427.12% | -1776.47% | -965% | -2498.46% |
| Net Income Growth % | -85.04% | -77.25% | -84.86% | 30.77% | -75.04% | -28.69% | 20.07% | -6.81% | -187.64% | 14.21% | -439.48% | 147.53% | -12.23% | 52.08% | -187.84% | -198.57% | 448.59% | 96.68% | 27.01% | -395.74% | -87% | -336.94% | -37.78% | - |
| Net Income (Continuing) | -271.33M | -231.96M | -130.87M | -70.8M | -102.25M | -58.42M | -45.39M | -56.79M | -89.44M | -53.17M | -18.48M | -21.55M | 6.35M | -13.36M | -11.9M | -24.84M | -8.63M | 8.75M | -2.51M | -75.67M | -83.53M | -20.91M | -12.75M | -2.56M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.1M | 137.28K |
| EPS (Diluted) | -3.16 | -3.17 | -2.32 | -1.82 | -2.74 | -2.03 | -3.54 | -6.04 | -11.50 | -5.23 | -6.81 | 2.08 | -4.87 | -5.16 | -11.95 | -4.43 | 4.63 | -1.37 | -41.65 | -93.93 | -27.81 | -5.73 | -2.08 | -1.35 |
| EPS Growth % | -45.23% | -36.64% | -27.47% | 33.58% | -34.98% | 42.66% | 41.39% | 47.48% | -119.89% | 23.2% | -427.4% | 142.71% | 5.62% | 56.82% | -169.75% | -195.68% | 437.96% | 96.71% | 55.66% | -237.76% | -385.34% | -175.48% | -54.07% | - |
| EPS (Basic) | - | -3.17 | -2.32 | -1.82 | -2.74 | -2.03 | -3.54 | -6.04 | -11.50 | -5.23 | -6.81 | 2.16 | -4.87 | -5.16 | -11.95 | -4.43 | 4.76 | -1.37 | -41.65 | -93.93 | -27.81 | -5.73 | -1.68 | -1.35 |
| Diluted Shares Outstanding | 86M | 73.25M | 56.3M | 38.9M | 37.32M | 28.76M | 12.84M | 10.43M | 4.62M | 3.53M | 3.16M | 3.06M | 2.74M | 2.3M | 2.08M | 1.95M | 1.89M | 1.83M | 1.82M | 1.1M | 752.1K | 1.95M | 1.23M | 1.37M |
| Basic Shares Outstanding | 86M | 73.25M | 56.3M | 38.9M | 37.32M | 28.76M | 12.84M | 10.43M | 4.62M | 3.53M | 3.16M | 2.94M | 2.74M | 2.3M | 2.08M | 1.95M | 1.84M | 1.83M | 1.82M | 1.1M | 752.1K | 1.95M | 1.53M | 1.37M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Clinical trial funding runway
As reported in recent financial filings, EyePoint Pharmaceuticals has experienced a severe revenue decline, with quarterly figures dropping to $696.0K in 2026Q1, representing a 97.2% year-over-year contraction as the company shifts away from direct commercial product sales toward a royalty-based model following the YUTIQ divestiture.
The precipitous drop in top-line revenue reflects a deliberate, albeit aggressive, transition away from commercial operations to focus on pipeline development. Investors should monitor whether the remaining royalty streams can provide a meaningful baseline or if the company will remain entirely dependent on milestone-driven volatility.
Based on the company's income statement data, R&D expenditures have surged to $72.1M in 2026Q1, significantly outpacing the minimal gross profit of $168.0K and highlighting the heavy capital requirements necessary to sustain late-stage clinical trials for the EYP-1901 program.
The cost structure is now almost entirely dominated by non-discretionary clinical trial expenses, which have ballooned as the company advances its Phase 3 programs. This concentration of spending suggests that management has prioritized clinical milestones over near-term operational efficiency, leaving little room for error in trial outcomes.
Financial statements indicate that EyePoint's operating margin has deteriorated to -125.3% in 2026Q1, as the company's inability to scale revenue against rising R&D costs prevents the realization of operating leverage despite the historically high gross margins inherent in the Durasert drug delivery platform.
The lack of operating leverage is a direct consequence of the company's current clinical-stage status, where R&D spending is decoupled from revenue generation. Until the EYP-1901 program reaches commercialization, the company appears unlikely to achieve positive operating income, regardless of its underlying manufacturing efficiency.
According to the provided income statement data, the company's net loss of $84.8M in 2026Q1, combined with the absence of significant revenue, suggests that the current cash burn rate may be unsustainable without further dilutive financing or successful, timely clinical data readouts.
Short-term observers may focus on the widening gap between cash outflows and the company's limited liquidity, which warrants further investigation into the timing of potential milestone payments. The reliance on equity markets to bridge this funding gap remains a primary risk factor for existing shareholders.
Quick answers to the most common questions about buying EYPT stock.
For fiscal year 2025, EyePoint Pharmaceuticals, Inc. (EYPT) reported total revenue of $31.4M. This represents a 42093.1% increase compared to $0.1M in 2003.
EyePoint Pharmaceuticals, Inc. (EYPT) reported a net loss of $232.0M for the fiscal year ending 2025.
EyePoint Pharmaceuticals, Inc. (EYPT) reported an operating income of $-243.4M, resulting in an operating profit margin of -776.0%. This margin reflects the operational efficiency of the business before interest and taxes.
EyePoint Pharmaceuticals, Inc. (EYPT) generated $29.3M in gross profit for the year, representing a gross profit margin of 93.4%. This demonstrates the company's core pricing power and production efficiency.