Ocular Therapeutix, Inc. (OCUL) Revenue History
Annual and quarterly revenue from 2012 to present
OCUL Revenue Over Time (2012–2025)
OCUL Revenue Growth History
10 of 12 years with positive growth- FY2012 revenue growth
- N/A
- FY2013 revenue growth
- -100.0%
- FY2014 revenue growth
- N/A
- FY2015 revenue growth
- +126.7%
- FY2016 revenue growth
- +7.8%
- FY2017 revenue growth
- +1.9%
- FY2018 revenue growth
- +3.5%
- FY2019 revenue growth
- +112.4%
- FY2020 revenue growth
- +311.7%
- FY2021 revenue growth
- +150.1%
- FY2022 revenue growth
- +18.3%
- FY2023 revenue growth
- +13.5%
- FY2024 revenue growth
- +9.0%
- FY2025 revenue growth
- -18.7%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $10.8M | +0.8% |
| Q4 2025 | $13.3M | -22.4% |
| Q3 2025 | $14.5M | -5.7% |
| Q2 2025 | $13.5M | -18.1% |
| Q1 2025 | $10.7M | -27.6% |
| Q4 2024 | $17.1M | +15.4% |
| Q3 2024 | $15.4M | +2.3% |
| Q2 2024 | $16.4M | +8.3% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
OCUL's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
OCUL Revenue Analysis (2012–2025)
Current Revenue & Growth
As of June 22, 2026, Ocular Therapeutix, Inc. (OCUL) generated trailing twelve-month (TTM) revenue of $52.0 million, reflecting modest growth of +0.8% year-over-year. The most recent quarter (Q1 2026) recorded $10.8 million in revenue, down 18.6% sequentially.
Historical Growth Trajectory
OCUL's 5-year compound annual growth rate (CAGR) stands at +24.4%, indicating outstanding long-term growth trajectory. The 3-year CAGR of +0.2% is below the 5-year average, signalling a growth deceleration in recent years. Ocular Therapeutix, Inc.'s highest annual revenue of $63.7 million was recorded in 2024.
Revenue by Segment
OCUL's revenue is primarily driven by Product (100%), and Collaboration revenue (0%). With over half of revenue concentrated in Product, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Healthcare sector peers — including NVCR (+8.5% YoY), and SGHT (+1.8% YoY) — OCUL has underperformed the peer group in revenue growth. Compare OCUL vs NVCR →
OCUL Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| OCULCurrent | $52M | +0.8% | +24.4% | -521.0% | |
 NVCR | $655M | +8.5% | +5.8% | -23.5% | |
 SGHT | $77M | +1.8% | +22.9% | -48.0% |
OCUL Historical Revenue Data (2012–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $51.8M | -18.7% | $45.2M | 87.3% | $-270,017,000 | -521.0% |
| 2024 | $63.7M | +9.0% | $58.1M | 91.2% | $-171,781,000 | -269.6% |
| 2023 | $58.4M | +13.5% | $53.2M | 91.0% | $-82,382,000 | -141.0% |
| 2022 | $51.5M | +18.3% | $47.0M | 91.2% | $-78,654,000 | -152.7% |
| 2021 | $43.5M | +150.1% | $39.1M | 89.9% | $-78,037,000 | -179.3% |
| 2020 | $17.4M | +311.7% | $15.3M | 88.0% | $-62,847,000 | -361.1% |
| 2019 | $4.2M | +112.4% | $1.9M | 45.0% | $-85,802,000 | -2029.9% |
| 2018 | $2.0M | +3.5% | $1.5M | 76.6% | $-59,118,000 | -2970.8% |
| 2017 | $1.9M | +1.9% | $1.5M | 76.2% | $-61,923,000 | -3220.1% |
| 2016 | $1.9M | +7.8% | $1.4M | 76.5% | $-43,326,000 | -2296.0% |
| 2015 | $1.8M | +126.7% | $1.4M | 81.8% | $-38,197,000 | -2182.7% |
| 2014 | $772K | - | $681K | 88.2% | $-27,094,000 | -3509.6% |
| 2013 | $0 | -100.0% | $-10,517,000 | - | $-12,903,000 | - |
| 2012 | $10K | - | $3K | 30.0% | $-13,671,000 | -136710.0% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
14+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
OCUL — Frequently Asked Questions
Quick answers to the most common questions about buying OCUL stock.
Is OCUL's revenue growth accelerating or slowing?
OCUL revenue growth is slowing. TTM revenue is $52M, up +0.8% year-over-year — below the 5-year CAGR of +24.4%. The deceleration suggests maturing end-markets or increased competition.
What is OCUL's revenue history from 2012 to 2026?
Ocular Therapeutix, Inc. (OCUL) revenue history spans 2012 to 2026. TTM revenue as of 2026 is $52M, growing at +0.8% YoY. The 5-year CAGR is +24.4%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is OCUL's long-term revenue growth rate (CAGR)?
Ocular Therapeutix, Inc.'s 5-year revenue CAGR of +24.4% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of +0.8% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for OCUL.
Why does OCUL's quarterly revenue fluctuate?
OCUL quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Ocular Therapeutix, Inc.'s revenue data from 2012 to 2026 shows full historical quarterly detail on this page.
How is OCUL's revenue distributed by segment?
OCUL reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does OCUL's revenue compare to industry peers?
Ocular Therapeutix, Inc. (OCUL) with TTM revenue of $52M and +0.8% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.