Revenue has plummeted to $21.5K in 2026Q1 from $712.0K in 2024Q4, driving operating margins to a deeply negative -97.5%.
Onconetix, Inc. (ONCO) annual income statement — 7-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 |
|---|
| Sales/Revenue | 645.82K | 815.37K | 2.52M | 58.47K | 0 | 0 | 0 | 0 |
| Revenue Growth % | -51.33% | -67.7% | 4217.31% | - | - | - | - | - |
| Cost of Goods Sold | 126.6K | 182.46K | 1.47M | 1.19M | 6.75K | 4.89K | 3.06K | 573 |
| COGS % of Revenue | - | 22.38% | 58.2% | 2027.93% | - | - | - | - |
| Gross Profit | 519.23K | 632.91K | 1.06M | -1.13M | -6.75K | -4.89K | -3.06K | -573 |
| Gross Margin % | 80.4% | 77.62% | 41.8% | -1927.93% | - | - | - | - |
| Gross Profit Growth % | - | -40.01% | 193.61% | -16593.79% | -38.08% | -60.01% | -433.33% | - |
| Operating Expenses | 8.69M | 6.98M | 57.54M | 34.91M | 13.48M | 3.42M | 1.62M | 879.66K |
| OpEx % of Revenue | - | 855.78% | 2279.76% | 59706.54% | - | - | - | - |
| Selling, General & Admin | 8.13M | 7.04M | 11.23M | 14.77M | 9.35M | 2.09M | 1.1M | 819.49K |
| SG&A % of Revenue | - | 863.89% | 444.99% | 25264.14% | - | - | - | - |
| Research & Development | 75.34K | -66.13K | 154.36K | 1.95M | 4.13M | 1.33M | 524.91K | 60.17K |
| R&D % of Revenue | - | -8.11% | 6.12% | 3334.31% | - | - | - | - |
| Other Operating Expenses | 486K | 0 | 46.16M | 18.19M | 0 | 0 | 0 | 0 |
| Operating Income | -8.17M | -6.34M | -56.49M | -36.03M | -13.48M | -3.42M | -1.62M | -880.23K |
| Operating Margin % | -1265.55% | -778.16% | -2237.96% | -61634.47% | - | - | - | - |
| Operating Income Growth % | - | 88.77% | -56.76% | -167.29% | -294.5% | -110.68% | -84.28% | - |
| EBITDA | -8.29M | -6.33M | -55.76M | -35.99M | -13.47M | -3.41M | -1.62M | -879.66K |
| EBITDA Margin % | -1284.13% | -776.3% | -2208.99% | -61559.32% | - | - | - | - |
| EBITDA Growth % | 75.93% | 88.65% | -54.92% | -167.1% | -294.86% | -110.77% | -84.05% | - |
| D&A (Non-Cash Add-back) | 12.12K | 15.17K | 731.35K | 43.94K | 6.75K | 4.89K | 3.06K | 573 |
| EBIT | -9.88M | -13.28M | -58.33M | -36.75M | -13.42M | -3.42M | -1.6M | -821.91K |
| Net Interest Income | -310.95K | -751K | -1.41M | -671.63K | 0 | 0 | 22.6K | 58.32K |
| Interest Income | 0 | 0 | 18 | 0 | 0 | 0 | 22.6K | 58.32K |
| Interest Expense | 310.95K | 751K | 1.41M | 671.63K | 0 | 0 | 0 | 0 |
| Other Income/Expense | -2.02M | -7.69M | -3.25M | -1.39M | 61.41K | 0 | 22.6K | 58.32K |
| Pretax Income | -10.2M | -14.03M | -59.74M | -37.42M | -13.42M | -3.42M | -1.6M | -821.91K |
| Pretax Margin % | -1578.71% | -1720.91% | -2366.62% | -64008.02% | - | - | - | - |
| Income Tax | 525 | 525 | -1.05M | -12.59K | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | -0.01% | -0% | 1.75% | 0.03% | 0% | 0% | 0% | 0% |
| Net Income | -10.2M | -14.03M | -58.69M | -37.41M | -13.42M | -3.42M | -1.6M | -821.91K |
| Net Margin % | -1578.79% | -1720.98% | -2325.21% | -63986.48% | - | - | - | - |
| Net Income Growth % | 76.92% | 76.09% | -56.89% | -178.76% | -292.7% | -113.65% | -94.6% | - |
| Net Income (Continuing) | -10.2M | -14.03M | -58.69M | -37.41M | -13.42M | -3.42M | -1.6M | -821.91K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 7.01M | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -4.55 | -4.73 | -520.93 | -25.03 | -0.31 | -0.09 | -0.04 | -0.02 |
| EPS Growth % | 98.33% | 99.09% | -1981.34% | -7936.7% | -251.61% | -121.43% | -88.17% | - |
| EPS (Basic) | - | -4.73 | -520.93 | -25.03 | -0.31 | -0.09 | -0.04 | -0.02 |
| Diluted Shares Outstanding | 2.24M | 3.28M | 113.05K | 17.61K | 12.63K | 11.37K | 11.37K | 11.37K |
| Basic Shares Outstanding | 2.24M | 3.28M | 113.05K | 17.61K | 12.63K | 11.37K | 11.37K | 11.37K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying ONCO stock.
For fiscal year 2025, Onconetix, Inc. (ONCO) reported total revenue of $0.8M.
Onconetix, Inc. (ONCO) reported a net loss of $14.0M for the fiscal year ending 2025.
Onconetix, Inc. (ONCO) reported an operating income of $-6.3M, resulting in an operating profit margin of -778.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Onconetix, Inc. (ONCO) generated $0.6M in gross profit for the year, representing a gross profit margin of 77.6%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Imminent liquidity and survival risk
Metrics are mathematically derived from official filings.
Commercial Revenue Trajectory Collapsing Rapidly
As reported in recent financial filings, Onconetix experienced a severe revenue contraction, with quarterly figures plummeting to $21.5K in 2026Q1 from $712.0K in 2024Q4, representing a year-over-year decline of 78.9% that underscores the significant commercial friction currently facing the company's primary Entadfi product launch in the US.
The precipitous drop in top-line performance suggests that the transition from a development-stage entity to a commercial-stage pharmaceutical company is failing to gain traction. Investors should monitor whether this decline reflects structural market rejection of the single-pill BPH solution or merely temporary distribution inefficiencies.
Operating Expenses Outpacing Revenue Generation
Based on the company's latest income statement, operating expenses remain disproportionately high relative to the minimal revenue base, with SG&A costs consistently exceeding $1.5 million per quarter, which indicates a cost structure that appears fundamentally misaligned with the current scale of the commercial operations.
The persistent reliance on high fixed-cost infrastructure while revenue evaporates suggests that management has struggled to implement necessary expense discipline. This disconnect between overhead and top-line results warrants further investigation into the sustainability of the current corporate footprint.
Operating Leverage Remains Deeply Negative
According to the provided quarterly data, the company's operating margin reached a staggering -97.5% in 2026Q1, demonstrating that the business lacks the necessary scale to achieve operating leverage, as the cost of maintaining commercial infrastructure continues to dwarf the gross profit generated by product sales.
The inability to scale operating income alongside gross profit suggests that the current business model is not yet viable. Without a significant inflection in prescription volume, the company appears trapped in a cycle of high cash burn that may necessitate further dilutive financing.
Fundamental Viability Under Severe Scrutiny
As evidenced by the 2026Q1 net loss of $4.2 million against a cash balance of approximately $5.2 million, the company's financial position appears increasingly precarious, raising significant concerns regarding its ability to continue as a going concern without immediate and substantial capital market intervention.
Short-sellers would likely focus on the rapid depletion of cash reserves and the lack of a clear path to profitability. The current trajectory suggests that the company may be forced to prioritize survival over long-term pipeline development, potentially sacrificing future value for immediate liquidity.