The company exhibits a non-commercial revenue profile with multiple quarters reporting zero revenue and consistent operating losses exceeding $1 million per quarter, highlighting a lack of operational self-sufficiency.
| Sales/Revenue | 173.67K | 536.36K | 449.62K | 184.16K | 259.35K | 961.68K | 694.75K |
| Revenue Growth % | -61.37% | 19.29% | 144.15% | -28.99% | -73.03% | 38.42% | - |
| Cost of Goods Sold | 3.57M | 3.61M | 3.04M | 2.55M | 1.46M | 975.96K | 682.89K |
| COGS % of Revenue | - | 673.65% | 675.87% | 1383.43% | 561.71% | 101.48% | 98.29% |
| Gross Profit | -3.39M | -3.08M | -2.59M | -2.36M | -1.2M | -14.28K | 11.86K |
| Gross Margin % | -1954.73% | -573.65% | -575.87% | -1283.43% | -461.71% | -1.48% | 1.71% |
| Gross Profit Growth % | - | -18.83% | -9.55% | -97.38% | -8287.22% | -220.41% | - |
| Operating Expenses | 2.02M | 2M | 2.16M | 226.19K | 718.38K | 42.59K | 65.65K |
| OpEx % of Revenue | - | 373.58% | 479.68% | 122.83% | 277% | 4.43% | 9.45% |
| Selling, General & Admin | 2.23M | 2M | 2.16M | 226.19K | 718.38K | 42.59K | 65.65K |
| SG&A % of Revenue | - | 373.58% | 479.68% | 122.83% | 277% | 4.43% | 9.45% |
| Research & Development | 0 | 0 | 0 | 2.55M | 1.46M | 975.96K | 682.89K |
| R&D % of Revenue | - | - | - | 1383.43% | 561.71% | 101.48% | 98.29% |
| Other Operating Expenses | -216.12K | 0 | 0 | -2.55M | -1.46M | -975.96K | -682.89K |
| Operating Income | -5.41M | -5.08M | -4.75M | -2.59M | -1.92M | -56.86K | -53.79K |
| Operating Margin % | -3115.15% | -947.23% | -1055.55% | -1406.26% | -738.71% | -5.91% | -7.74% |
| Operating Income Growth % | - | -7.05% | -83.26% | -35.17% | -3269.26% | -5.71% | - |
| EBITDA | -5.41M | -5.08M | -4.74M | -2.59M | -1.86M | -53.69K | 0 |
| EBITDA Margin % | -3113.49% | -946.69% | -1055.18% | -1405.37% | -716.66% | -5.58% | - |
| EBITDA Growth % | -24.13% | -7.03% | -83.31% | -39.25% | -3361.73% | - | - |
| D&A (Non-Cash Add-back) | 2.89K | 2.89K | 1.69K | 0 | 0 | 0 | 53.79K |
| EBIT | -5.33M | -5.02M | -4.61M | -2.59M | -1.86M | -53.69K | -53.79K |
| Net Interest Income | 80.2K | 64.28K | 126.99K | -7.93K | -6.73K | -4.79K | -8.06K |
| Interest Income | 80.2K | 64.28K | 137.84K | 1.68K | 104 | 3.17K | 334 |
| Interest Expense | 0 | 0 | 10.85K | 9.61K | 6.83K | 7.96K | 8.39K |
| Other Income/Expense | 80.2K | 64.28K | 126.99K | -7.98K | 50.35K | -4.79K | -8.06K |
| Pretax Income | -5.33M | -5.02M | -4.62M | -2.6M | -1.87M | -61.66K | -61.85K |
| Pretax Margin % | -3068.97% | -935.25% | -1027.31% | -1410.59% | -719.3% | -6.41% | -8.9% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -5.33M | -5.02M | -4.62M | -2.6M | -1.87M | -61.66K | -61.85K |
| Net Margin % | -3068.97% | -935.25% | -1027.31% | -1410.59% | -719.3% | -6.41% | -8.9% |
| Net Income Growth % | -25.01% | -8.6% | -77.81% | -39.25% | -2925.61% | 0.31% | - |
| Net Income (Continuing) | -5.33M | -5.02M | -4.62M | -2.6M | -1.87M | -61.66K | -61.85K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.17 | -4.79 | -6.16 | -5.12 | -4.38 | -0.23 | -0.24 |
| EPS Growth % | 41.31% | 22.24% | -20.31% | -16.89% | -1804.35% | 4.17% | - |
| EPS (Basic) | - | -4.79 | -6.16 | -5.12 | -4.00 | -0.23 | -0.24 |
| Diluted Shares Outstanding | 4.55M | 1.05M | 750.38K | 507.58K | 426.01K | 266.4K | 260K |
| Basic Shares Outstanding | 4.55M | 1.05M | 749.83K | 507.36K | 466.48K | 266.4K | 260K |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
Capital Access and Dilution
As indicated by the company's recent financial filings, Lipella's revenue stream remains sporadic and non-commercial, with multiple quarters reporting zero revenue, highlighting the firm's reliance on intermittent project-based funding rather than a sustainable, recurring sales model typical of established biotechnology entities within the broader healthcare sector.
The lack of consistent top-line growth suggests that the company is currently in a purely developmental phase, where revenue is likely a byproduct of research grants rather than product market penetration. Investors should monitor the transition from grant-dependent income to commercial product sales, as the current trajectory provides no evidence of a scalable revenue engine.
Based on reported quarterly figures, Lipella's cost structure is dominated by persistent COGS and SG&A expenses that consistently exceed revenue, resulting in a deeply negative gross margin profile that underscores the company's current inability to achieve operational self-sufficiency through its existing research-focused business model.
The high fixed-cost burden, particularly in the absence of meaningful revenue, suggests that the company is heavily exposed to inflationary pressures in clinical trial and regulatory compliance expenses. This cost structure appears to be a structural hurdle that will likely persist until the company successfully transitions to a commercial stage or secures a high-value licensing agreement.
According to the income statement data, Lipella exhibits no positive operating leverage, as the company consistently records operating losses exceeding $1 million per quarter, reflecting a business model where overhead and clinical expenses remain entirely decoupled from the firm's minimal and inconsistent revenue generation capabilities.
The inability to scale operating income relative to expenses suggests that the company's current operational footprint is inefficient for its pre-commercial stage. Without a significant shift in the revenue-to-cost ratio, the company appears to be trapped in a cycle of high cash burn that necessitates ongoing external financing to maintain its clinical programs.
As reported in recent financial statements, the company's cash position of approximately $2.18 million, when viewed against consistent quarterly operating losses, suggests a precarious runway that may force management to pursue dilutive equity offerings or strategic pivots to ensure the continuation of its clinical development pipeline.
Short-term investors should be wary of the potential for significant shareholder dilution, as the current burn rate appears unsustainable without additional capital injections. The reliance on non-recurring revenue streams further complicates the valuation, as the market may be overestimating the company's ability to reach commercialization before exhausting its existing liquidity.
Quick answers to the most common questions about buying LIPO stock.
For fiscal year 2024, Lipella Pharmaceuticals Inc. (LIPO) reported total revenue of $0.5M. This represents a 22.8% decline compared to $0.7M in 2019.
Lipella Pharmaceuticals Inc. (LIPO) reported a net loss of $5.0M for the fiscal year ending 2024.
Lipella Pharmaceuticals Inc. (LIPO) reported an operating income of $-5.1M, resulting in an operating profit margin of -947.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Lipella Pharmaceuticals Inc. (LIPO) generated $-3.1M in gross profit for the year, representing a gross profit margin of -573.7%. This demonstrates the company's core pricing power and production efficiency.