The company has maintained zero commercial revenue over the past ten quarters, with operational expenses dominated by $940,000 in G&A costs during 2025Q1.
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - |
| Cost of Goods Sold | 0 | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | - | - | - | - | - |
| Gross Profit | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Margin % | - | - | - | - | - | - |
| Gross Profit Growth % | - | - | - | - | - | - |
| Operating Expenses | 4.16M | 3.8M | 2.48M | 566.56K | 1.65M | 232K |
| OpEx % of Revenue | - | - | - | - | - | - |
| Selling, General & Admin | 4.14M | 3.77M | 2.48M | 28.41M | 1.6M | 197K |
| SG&A % of Revenue | - | - | - | - | - | - |
| Research & Development | 18K | 26K | 0 | 33.93M | 49K | 35K |
| R&D % of Revenue | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | -61.78M | 0 | 0 |
| Operating Income | -363K | 0 | -2.48M | -566.56K | -1.65M | -232K |
| Operating Margin % | - | - | - | - | - | - |
| Operating Income Growth % | - | 100% | -338.02% | 65.7% | -612.07% | - |
| EBITDA | -28.97M | 0 | -957.74K | -330K | -1.45M | -60.14K |
| EBITDA Margin % | - | - | - | - | - | - |
| EBITDA Growth % | -50.91% | 100% | -190.22% | 77.17% | -2303.9% | - |
| D&A (Non-Cash Add-back) | 0 | 0 | 0 | 236.56K | 206.3K | 171.86K |
| EBIT | -28.97M | 0 | -957.74K | -564.11K | 0 | 0 |
| Net Interest Income | -1.75M | 0 | 1.52M | 2.45K | 0 | 0 |
| Interest Income | 0 | 0 | 1.52M | 2.45K | 0 | 0 |
| Interest Expense | 1.75M | -2.05M | 691 | 0 | 0 | 0 |
| Other Income/Expense | -24.18M | 0 | 1.52M | 2.45K | -1K | 0 |
| Pretax Income | -24.54M | -3.3M | -958.43K | -564.11K | -1.65M | -232K |
| Pretax Margin % | - | - | - | - | - | - |
| Income Tax | -3.3M | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 13.45% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -30.72M | -3.3M | 565.47K | -62.34M | -1.65M | -232K |
| Net Margin % | - | - | - | - | - | - |
| Net Income Growth % | 0.82% | -683.76% | 100.91% | -3671.57% | -612.5% | - |
| Net Income (Continuing) | -21.24M | -3.3M | -958.43K | -564.11K | -1.65M | -232K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.12 | -0.12 | -0.05 | -0.04 | -0.08 | -0.01 |
| EPS Growth % | 3.45% | -153.16% | -11.27% | 47.92% | -611.3% | - |
| EPS (Basic) | - | -0.12 | -0.05 | -0.04 | -0.08 | -0.01 |
| Diluted Shares Outstanding | 27.5M | 27.5M | 19.02M | 13.22M | 20.2M | 20.2M |
| Basic Shares Outstanding | 27.5M | 27.5M | 19.02M | 13.22M | 20.2M | 20.2M |
| Dividend Payout Ratio | - | - | - | - | - | - |
Capital Access and Dilution
As indicated by the company's historical financial statements, Ocean Biomedical has generated zero revenue over the past ten quarters, confirming its status as a pre-clinical stage entity that remains entirely dependent on external capital to sustain its ongoing research and development activities and administrative overhead requirements.
The lack of top-line growth is consistent with the company's current business model, which focuses on the discovery and pre-clinical validation of its Chi3l1 and PfGARP candidates. Investors should monitor the transition from discovery to clinical-stage milestones, as revenue generation remains speculative and contingent upon future out-licensing or commercialization success.
Based on reported figures, the company's cost structure is dominated by general and administrative expenses, which reached $940,000 in 2025Q1, while research and development spending remains inconsistent, fluctuating from $393,000 in 2023Q1 to negligible levels in several subsequent quarters, reflecting a highly variable and non-linear expense profile.
The reliance on external academic labs appears to create lumpy R&D spending that does not follow a predictable quarterly cadence. This cost structure suggests that management is prioritizing administrative maintenance as a public entity, which may limit the capital available for accelerating the core clinical pipeline.
As reported in financial statements, Ocean Biomedical's net income has exhibited extreme volatility, ranging from a $128 million loss in 2023Q1 to a $13 million gain in 2024Q1, largely driven by non-operating items and accounting adjustments rather than core operational performance or sustainable business activities.
The significant swings in net income appear to be artifacts of de-SPAC accounting, including the valuation of warrants and contingent consideration. Analysts should look past these headline figures, as they do not reflect the underlying cash burn or the operational progress of the company's therapeutic pipeline.
According to recent SEC filings, the company's recurring net losses and the explicit inclusion of a going concern disclosure suggest that Ocean Biomedical faces significant liquidity risks, necessitating ongoing reliance on dilutive financing mechanisms like the recent common stock purchase agreement to fund its near-term operations.
The persistent need for external capital to cover operating expenses warrants further investigation into the company's long-term solvency. Investors should be wary that the current path of funding operations through equity issuance may lead to substantial dilution, potentially undermining shareholder value even if clinical milestones are eventually achieved.
Quick answers to the most common questions about buying OCEA stock.
For fiscal year 2024, Ocean Biomedical, Inc. (OCEA) reported total revenue of $0.0M.
Ocean Biomedical, Inc. (OCEA) reported a net loss of $3.3M for the fiscal year ending 2024.