Lipocine Inc. (LPCN) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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LPCN Revenue Growth
Revenue Breakdown (FY 2024)
LPCN's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
LPCN Revenue Analysis (2014–2025)
As of May 8, 2026, Lipocine Inc. (LPCN) generated trailing twelve-month (TTM) revenue of $2.0 million, reflecting exceptional growth of +27.2% year-over-year. The most recent quarter (Q1 2026) recorded $119,397 in revenue, down 89.6% sequentially.
Looking at the longer-term picture, LPCN's historical revenue data shows a 3-year CAGR of +58.1%. The company achieved its highest annual revenue of $16.1 million in 2021.
Revenue diversification analysis shows LPCN's business is primarily driven by Royalty (100%). With over half of revenue concentrated in Royalty, the company maintains significant focus in this area while developing other growth vectors.
When compared to Healthcare sector peers including ANIP (+43.8% YoY), NUVB (+1205.5% YoY), and CLDX (-78.6% YoY), LPCN has underperformed the peer group in terms of revenue growth. Compare LPCN vs ANIP →
LPCN Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| LPCNCurrent | $2M | +27.2% | - | -524.7% | |
 ANIP | $883M | +43.8% | +33.5% | 12.6% | |
 NUVB | $63M | +1205.5% | - | -338.7% | |
 CLDX | $2M | -78.6% | -27.4% | -19160.0% | |
 ABBV | $61.2B | +8.6% | +6.0% | 32.8% |
LPCN Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $2.0M | -82.3% | $-6,607,242 | -334.3% | $-10,371,379 | -524.7% |
| 2024 | $11.2M | +492.8% | $11.2M | 100.0% | $-1,155,035 | -10.3% |
| 2023 | $-2,850,818 | -670.2% | $-13,026,069 | 456.9% | $-17,930,957 | 629.0% |
| 2022 | $500K | -96.9% | $-8,056,888 | -1611.4% | $-12,119,375 | -2423.9% |
| 2021 | $16.1M | - | $8.5M | 52.5% | $3.1M | 19.5% |
| 2020 | $0 | -100.0% | $0 | - | $-17,996,264 | - |
| 2019 | $165K | -61.5% | $-7,303,220 | -4426.5% | $-12,900,290 | -7818.8% |
| 2018 | $428K | - | $428K | 100.0% | $-11,325,819 | -2646.0% |
| 2017 | $0 | - | $0 | - | $-21,217,976 | - |
| 2016 | $0 | - | $0 | - | $-18,458,199 | - |
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Start ComparisonLPCN — Frequently Asked Questions
Quick answers to the most common questions about buying LPCN stock.
Is LPCN's revenue growth accelerating or slowing?
LPCN revenue is accelerating at +27.2% year-over-year, exceeding the 5-year CAGR of N/A. TTM revenue reached $2M. Growth momentum has increased versus prior periods.
What is LPCN's long-term revenue growth rate?
Lipocine Inc.'s 5-year revenue CAGR of N/A reflects the sustained expansion pattern. Current YoY growth of +27.2% is above this long-term average.
How is LPCN's revenue distributed by segment?
LPCN reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.