Revenue remains non-operational and highly volatile, with 2026Q2 reporting a gross margin of -41.0% and an operating margin of -110.1% due to heavy R&D and SG&A expenditures.
| Sales/Revenue | 333.14K | 1.41M | 0 | 0 | 0 | 0 | 0 | 8.15M | 3.09M | 3.81M | 2.98M | 5.22M | 9.05M |
| Revenue Growth % | 95.82% | - | - | - | - | - | -100% | 163.8% | -18.99% | 27.92% | -42.9% | -42.34% | - |
| Cost of Goods Sold | 1.57M | 756.33K | 113.86K | 44.19K | 204.69K | 262.14K | 554.07K | 23.8M | 18.5M | 23.81M | 0 | 0 | 0 |
| COGS % of Revenue | - | 53.51% | - | - | - | - | - | 292.23% | 599.22% | 624.58% | - | - | - |
| Gross Profit | -1.23M | 657.21K | -113.86K | -44.19K | -204.69K | -262.14K | -554.07K | -15.66M | 0 | 0 | 0 | 0 | 0 |
| Gross Margin % | -369.98% | 46.49% | - | - | - | - | - | -192.23% | - | - | - | - | - |
| Gross Profit Growth % | - | 677.21% | -157.67% | 78.41% | 21.91% | 52.69% | 96.46% | - | - | - | - | - | - |
| Operating Expenses | 59.34M | 67.72M | 71.7M | 53.13M | 62.87M | 51.73M | 34.42M | 44.45M | 32.73M | 39.69M | 21.56M | 51.78M | 21.44M |
| OpEx % of Revenue | - | 4790.75% | - | - | - | - | - | 545.61% | 1059.97% | 1041.24% | 723.59% | 992.18% | 236.91% |
| Selling, General & Admin | 38.09M | 39.94M | 29.94M | 26.67M | 20.74M | 12.77M | 9.97M | 9.37M | 14.23M | 15.88M | 21.56M | 12.91M | 7.32M |
| SG&A % of Revenue | - | 2825.42% | - | - | - | - | - | 115.03% | 460.75% | 416.63% | 723.61% | 247.29% | 80.85% |
| Research & Development | 21.25M | 27.18T | 41.76M | 26.45M | 42.33M | 38.96M | 26.34M | 23.8M | 18.5M | 23.81M | 32.76M | 38.88M | 14.13M |
| R&D % of Revenue | - | 99999900% | - | - | - | - | - | 292.23% | 599.22% | 624.61% | 1099.43% | 744.89% | 156.06% |
| Other Operating Expenses | 0 | -27.18T | 0 | 0 | -205K | 0 | -1.9M | 11.27M | 0 | -23.81M | 0 | 0 | 0 |
| Operating Income | -60.57M | -67.06M | -71.7M | -53.13M | -63.07M | -51.73M | -36.84M | -36.3M | -29.64M | -35.88M | -51.35M | -46.56M | -12.39M |
| Operating Margin % | -18182.76% | -4744.25% | - | - | - | - | - | -445.61% | -959.97% | -941.24% | -1723.05% | -892.18% | -136.91% |
| Operating Income Growth % | - | 6.47% | -34.97% | 15.77% | -21.93% | -40.41% | -1.49% | -22.45% | 17.38% | 30.12% | -10.27% | -275.75% | - |
| EBITDA | -60.45M | -66.94M | -71.59M | -53.08M | -62.87M | -51.46M | -36.29M | -32.94M | -26.59M | -33.19M | -48.95M | -44.74M | -11.51M |
| EBITDA Margin % | -18146.85% | -4735.97% | - | - | - | - | - | -404.33% | -861.08% | -870.62% | -1642.72% | -857.21% | -127.21% |
| EBITDA Growth % | 20.79% | 6.49% | -34.87% | 15.56% | -22.15% | -41.83% | -10.17% | -23.87% | 19.88% | 32.2% | -9.42% | -288.57% | - |
| D&A (Non-Cash Add-back) | 119.64K | 117.05K | 113.86K | 44.19K | 204.69K | 262.14K | 554.07K | 3.36M | 3.05M | 2.69M | 2.39M | 1.82M | 878.48K |
| EBIT | -62.2M | -63.69M | -72.21M | -57.42M | -64.56M | -51.73M | -36.76M | -34.47M | -29.85M | -32.72M | -51.35M | -46.56M | -12.39M |
| Net Interest Income | -313.5K | -193.39K | -2.25M | -1.56M | -1.49M | -936.13K | -1.76M | -3.47M | -3.89M | -5.63M | -1.85M | -2.3M | -901K |
| Interest Income | 3 | 89.74K | 906.15K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 313.51K | 283.13K | 3.16M | 1.56M | 1.49M | 936.13K | 1.76M | 3.47M | 3.89M | 5.63M | 1.85M | 2.3M | 901.05K |
| Other Income/Expense | -1.94M | 3.08M | -3.66M | -5.85M | -2.98M | -1.43M | -1.67M | -1.64M | -4.1M | -2.47M | -1.85M | -2.3M | -901K |
| Pretax Income | -62.51M | -63.98M | -75.36M | -58.98M | -66.05M | -53.16M | -38.51M | -37.94M | -33.74M | -38.35M | -53.2M | -48.86M | -13.29M |
| Pretax Margin % | -18764.16% | -4526.01% | - | - | - | - | - | -465.69% | -1092.62% | -1005.98% | -1785.2% | -936.19% | -146.87% |
| Income Tax | -1.55M | -1.55M | 2.8K | 2.8K | 2.8K | 2K | -3.27M | -3.41M | -3.65M | 501.5K | 103K | -190K | 439.02K |
| Effective Tax Rate % | 2.49% | 2.43% | -0% | -0% | -0% | -0% | 8.5% | 8.99% | 10.81% | -1.31% | -0.19% | 0.39% | -3.3% |
| Net Income | -60.96M | -62.42M | -75.37M | -58.98M | -66.05M | -53.16M | -35.24M | -34.52M | -30.09M | -38.85M | -53.3M | -47.39M | -13.73M |
| Net Margin % | -18297.5% | -4416.22% | - | - | - | - | - | -423.82% | -974.48% | -1019.12% | -1788.66% | -908.09% | -151.72% |
| Net Income Growth % | -388.61% | 17.17% | -27.78% | 10.7% | -24.24% | -50.86% | -2.07% | -14.73% | 22.54% | 27.12% | -12.47% | -245.13% | - |
| Net Income (Continuing) | -60.96M | -62.42M | -75.37M | -58.98M | -66.05M | -53.16M | -35.24M | -34.52M | -30.09M | -38.85M | -53.3M | -48.67M | -13.73M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.05K | -654.42K |
| EPS (Diluted) | -0.74 | -1.79 | -4.06 | -4.72 | -6.23 | -6.96 | -13.47 | -39.60 | -85.00 | -288.00 | -587.20 | -564.14 | -1.05 |
| EPS Growth % | -10.62% | 55.91% | 13.98% | 24.24% | 10.49% | 48.33% | 65.98% | 53.41% | 70.49% | 50.95% | -4.09% | -53627.62% | - |
| EPS (Basic) | - | -1.79 | -4.06 | -4.72 | -6.23 | -6.96 | -13.47 | -39.60 | -194.80 | -267.20 | -587.20 | -564.14 | -1.05 |
| Diluted Shares Outstanding | 81.84M | 25.48M | 18.55M | 12.51M | 10.6M | 7.63M | 3.63M | 909.59K | 354.03K | 150.26K | 107.58K | 93.95K | 13.06M |
| Basic Shares Outstanding | 81.84M | 34.8M | 18.55M | 12.51M | 10.6M | 7.63M | 3.63M | 909.59K | 154K | 150.14K | 90K | 93.95K | 13.06M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - |
Binary Regulatory and Liquidity Risk
As indicated by recent financial disclosures, OTLK's revenue remains non-operational and highly volatile, characterized by intermittent milestone payments rather than recurring product sales, with quarterly figures frequently fluctuating between negative values and minimal positive contributions, reflecting a pre-commercial entity reliant on external partnership activity.
The absence of consistent revenue streams underscores the company's status as a clinical-stage developer rather than a commercial enterprise. Investors should interpret these sporadic inflows as accounting adjustments related to licensing agreements rather than indicators of market adoption or product-market fit.
Based on reported income statements, the company's cost structure is dominated by heavy R&D and SG&A expenditures, which consistently dwarf the minimal revenue, resulting in a persistent operating loss that highlights the significant capital intensity required to navigate the current regulatory and clinical development phase.
The elevated SG&A and R&D spending reflect the necessary, yet value-consuming, efforts to satisfy FDA requirements for the NORSE EIGHT trial. This cost structure suggests that until a successful regulatory outcome is achieved, the company will remain entirely dependent on external financing to sustain its operations.
According to historical filings, OTLK's net income figures are frequently distorted by non-operating items, including warrant liability fluctuations and accounting anomalies, which obscure the underlying operational cash burn and make traditional EPS metrics largely irrelevant for assessing the company's true financial health or performance.
The volatility in net income, ranging from significant losses to occasional positive figures, appears to be driven by accounting treatments rather than operational success. Analysts should focus on the underlying cash burn rate rather than reported net income to gauge the company's actual runway.
With cash and equivalents reported at approximately $8M, as noted in recent regulatory updates, the company faces a precarious liquidity position that may necessitate dilutive financing, potentially undermining shareholder value before the firm can reach the critical milestone of FDA approval for its lead candidate.
The current cash position suggests an imminent risk of capital exhaustion, which warrants close monitoring of management's financing strategy. If the company fails to secure additional funding or reach a regulatory inflection point, the risk of a going concern issue remains a primary concern for investors.
Quick answers to the most common questions about buying OTLK stock.
For fiscal year 2025, Outlook Therapeutics, Inc. (OTLK) reported total revenue of $1.4M. This represents a 84.4% decline compared to $9.1M in 2014.
Outlook Therapeutics, Inc. (OTLK) reported a net loss of $62.4M for the fiscal year ending 2025.
Outlook Therapeutics, Inc. (OTLK) reported an operating income of $-67.1M, resulting in an operating profit margin of -4744.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Outlook Therapeutics, Inc. (OTLK) generated $0.7M in gross profit for the year, representing a gross profit margin of 46.5%. This demonstrates the company's core pricing power and production efficiency.